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Author Topic: 10 Reasons to hold Bitcoin  (Read 303 times)
mlkvch (OP)
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March 19, 2018, 11:31:27 AM
 #21


2. You don't lose money unless you sell.


I do not get this statement people use. How is this a perk? One can state if you buy any tangible item and dont use it, and dont sell it, you will not lose its valuation. I understand it cannot be applied to everything, but it seems to be a loosely-chained perk.

Example:

I can buy a car for 20k USD. I wont use it regularly, just keep maintaining it. I wont lose any money because I wont sell. If I do sell, I can just wait 40 years, and my car valuation (as long as I didnt use it too often, and kept it maintained) may increase tremendously.


Another point to make is that there is no guarantee the price of bitcoin will go up when you buy it. It could easily go down.
Thus, why state that you wont lose money unless you sell?

What happens if bitcoin becomes a dud as a currency, just like DTC? And the USD valuation becomes 100USD (not saying that it will), Does it mean that even if you bought your bitcoin at 20k and did not sell it until now, you still havent lost any money because you havent sold at its market price 100USD??


I do not want to sound rude, I just have a hard time getting the point of this statement. It does not seem as a great reason to buy anything. I feel like it would deter possible consumers more than anything.

Am I understanding this statement alright, or am I missing a point?


Please tell me if I am missing something,

TVL


Yes, you got the point right. Let's say you bought 1 BTC at $20k. It dropped to $10k. But if you don't sell, you still have your 1 BTC which means you didn't lose money. This works if you really believe in the potential of the currency you bought and that it will sky rocket someday.
Ctn
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March 19, 2018, 11:42:31 AM
 #22



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1. Adoption of Bitcoin continues to grow. There are more and more companies that want to accept Bitcoin and work with it.

May be, but the number is not visible yet so we cant say anything about this so surely. Companies are trying to adopt it but government is strong wall between them.

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2. You don't lose money unless you sell.

Thats kind of true because at any point whatever value bitcoin carries is nothing but more valuable as long as it is earned and not invested one. If there is investment which is above my entry point then as long as im not selling it, it is my grown money.

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3. Institutional investors start to invest heavily in cryptocurrencies. (Goldman Sachs-backed mobile Bank Circle acquired Poloniex. Mastercard, New York Life Insurance Company, and CIBC have invested in the Digital Currency Group.
4. It’s still only a small percentage of wise investors pouring money into it (perhaps 10 to 30% of the U.S. population).

The same thing as option of the bitcoin on large scale whether it is industry wise or amongst the republicans. However, the figures are again unsure for the population that usage the bitcoin but im pretty confident that is far low than what we expect. Once the number grows the bitcoin will grow in the market and thus adoption as well.

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5. US legislators are drifting toward a positive stance on the regulation of cryptocurrencies.

Its legal thing and these rules and regulations keep changing as the government changes each time. However we can see some changes on the state level as that change would be acceptable.

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6. Selling Bitcoin in it's low is what whales want from you to earn money for them.
7. Currently, there are too many dumpers like Mt Gox and too many FUD news but crypto market always recovers after some dump.

What to say about the Mt Gox, they are smartest one in playing the market. But now everyone has already understood the formula to grow our bitcoin and it means only one thing, people will buy more at this dump and this will push the bitcoin economy harder and upward.

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8. US or China aren't interested in banning cryptocurrencies because if they do this, other countries will adopt it and win. Most likely, those governments also want to buy Bitcoin but for lower price.

Or may be there could be case where rest of the world will follow these powerful countries in terms of economic statement that they make. This could become disastrous for rest of the crypto career.

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9. Crypto market gains upright scale graph starting from the third quarter few last years.
10. Bitcoin millionaires became millionaires because they holded it for years, not months.

The same formula that we keep talking about and if people dont accept that then they will keep loosing the money and also they will give chances to whales to buy more and become even richer than previous stages. That would mistake of those who fear of the drop.
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March 19, 2018, 11:49:00 AM
 #23

NUMBER 1 REASON, BITCOIN IS BOOMING BABY
gordeevaverona
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March 19, 2018, 11:49:33 AM
 #24

I adhere to the 10th point because it is an effective way if there is money to buy bitcoins unnecessary to store bitcoin and to be further a person who will make a profit
BelieveInBTC
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March 19, 2018, 11:54:39 AM
 #25

I believe that more and more people will accept Bitcoin in the future which should encourage people to buy and use it often. I hold my bitcoins because I am very excited that Bitcoin will become faster especially when Lightning Network goes live after developers finish it and decide to make it easier to use for average person. I don't think it's difficult right now but it is probably because I have been into Bitcoin for a long time.

Dava.Dina
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March 19, 2018, 12:00:29 PM
 #26

I do not think it's hard now but maybe because I have long been in. Bitcoin.

I am holding Bitcoin because I am very happy because Bitcoin will get faster especially when Network Lightning goes after the developers resolve it and decide to make it easier to use the average person.

The main reason I hold Bitcoin is I believe in Bitcoin's system and future.

Bitcoin will continue to increase consistently in the middle of this year, if major markets such as Japan and the United States can support growth in every regional market and if relatively small markets like India are also undergoing major changes. so I will hold Bitcoin until the price goes up.
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