Why you don't need to HODL or trade Bitcoin

[taufik123]

I think a big mistake that people do, when looking on Bitcoin, is only profit. There is nothing bad about it, we all need money. But Satoshi Nakamoto doesn't made money machine so everyone can get rich, Bitcoin is money itself. I just want people to understand why he bringed this technology. Bitcoin is very successive experiment, it showed us that we can put our trust to cryptography, decentralized public ledger that we call blockchain. Amazing innovation that early adopters bringed to the masses. But cryptocurrencies need to evolve further, while we looking only on price, developers and programmers from around the world giving new technologies based on Satoshi's ideas. Do your own research, look at the Bitcoin deeper, at Ethereum, at any other cryptocurrency, if you want to be on the wave of crypto technologies, you need to be more inovative, always reconsider your opinion, as Satoshi do, back in the 2008.

I believe you are a true Ethereum fan and cannot be denied. Not everyone sees bitcoin based solely on the benefits it will get. Those who only see the benefits are ordinary people who are new to bitcoin and not the technology. Remember that Ethereum is still dependent on bitcoin and other altcoins are dependent on bitcoin. Currently cryptocurrency is very far developed and new innovations continue to emerge. Remember that vitalik buterin was also inspired by Satoshi Nakamoto with his bitcoins. There's nothing to argue about anymore. Bitcoin, etehreum or any other altcoin have their own advantages and disadvantages.

[cryptoaddictchie]

I dont have any issues holding either of the two cause I think their price movement isn't far from each other. When bitcoin pump, eth also follows and same goes for eth when it is moving. People or institutional players tend to favor bitcoin since they know that its more popular than any other crypto and hype surge as its progress in long term. Not all are knowledgeable in terms of which is more chance of gaining but some traders knew that altcoins are more chance of winning than bitcoin. But that's on others point. Some prefer long term goal and they can be assured of it through bitcoin.

[Anrix2036]

I think that there's misunderstanding of my position about Bitcoin, Ethereum and alts.

I cannot blame you for having a negative impression towards Bitcoin yet I assure you that your points are wayy old and were already wrong in the current market situation.

I have no negative impression about Bitcoin. This forum exists for discussion, not the praise of Bitcoin, aswell as other crypto. I just looked at the code of Bitcoin and whitepaper a bit, looked at the history, looked at the other cryptocurrencies. I don't blame anyone that love Bitcoin, cause i love it myself. But i wanted to express more critic view, that catched my mind.

Yet you cannot just point out your ideas as it would all fall down to the fact that a user choses to invest/hold, regardless of the risk he/she already knew about. Yes, you can lose everything in investing on crypto, yet aren't you warned at the first place?

Because of that, i told:

~
Tell me your opinion.

I'm not ordering anyone to buy Ethereum, I'm just expressing critic and not so ordinary point of view. The last decision of what to do is on you of course, and i know about investment/trading risks, obviously, we're not kids here.

Actually it depends on someone's strategy and knowledge, you can blame for someone who hold bitcoin for long term investment because he has understood how to manage bitcoin for long term investment. Also, the stragegy that will be used seem like will be different, most of long term hold will focus on fundamental analyst not TA. Maybe they will use technical analyst but they will use high time frame.

Also, You cannot justify someone who has a strategy for short term investments or day/swing trades. Sometimes this way can make you get a huge lose, remember low time frame can be manipulated easily by some whales. They will sell their bitcoin so as will make many people take a panic selling as a solution to safe their money but it is just for a while and the whales buy back at the lowe price. This is why there is no safe 100% when you choose long term and short term strategey.

I'm not fully against the TA, if you spotted some pretty predictable property of price using the set of indicators, developed and tested trading strategy and have good money management, then of course go ahead and trade.
Just my personal opinion: long-term: Ethereum, short-term and active trading: other alts.

ETH shares the exact same on-chain problems as Bitcoin. If you think Bitcoin is outdated, then ETH also is. The thing is though, the only solution to their problems is reducing their decentralization levels. If you want them to be super fast and super cheap, then they need to be super centralized as well. You just cannot have all three.

Strange statement, Ethereum not shares all problems with Bitcoin. Just think a bit, why are there so many cryptocurrencies developed at different times? You really think that they were developed, just so developers can profit from it? You right! But not all crypto were developed for that purpose. Litecoin, Bitcoin cash, Ethereum, Monero, and many others were developed to mitigate drawbacks of Bitcoin, but have their own issues aswell. I think it's not impossible for some cryptocurrency to be decentralized, fast, cheap, and convenient, if developers are trying to improve base ideas of Bitcoin.

I believe you are a true Ethereum fan and cannot be denied. Not everyone sees bitcoin based solely on the benefits it will get. Those who only see the benefits are ordinary people who are new to bitcoin and not the technology. Remember that Ethereum is still dependent on bitcoin and other altcoins are dependent on bitcoin. Currently cryptocurrency is very far developed and new innovations continue to emerge. Remember that vitalik buterin was also inspired by Satoshi Nakamoto with his bitcoins. There's nothing to argue about anymore. Bitcoin, etehreum or any other altcoin have their own advantages and disadvantages.

I'm not Ethereum "fan", I'm not even the "fan" of crypto. I'm researching and learning cryptocurrencies aswell as you all do. I just take it seriously, not as someone that too "excited" or making "fun" of it. This is not bad to be excited or making fun of it, this is just my personal, cold-blooded "inspiration".
Other cryptocurrencies are not so depended to Bitcoin as you may see. Price doesn't tell that much. If Bitcoin get cracked, hacked, breaked or whatever can happen, the price of other crypto will drop, definitely, but that doesn't mean that Ethereum or other cryptos just disappear.
I can't get why all of you telling me that some other crypto is using Bitcoin "ideas", that Vitalik inspired by Satoshi, we're all already know that. This sounds like this is something bad to be "inspired" by someone, and use something as reference in project. If to think that way then, Satoshi is a bad guy too, because he used ideas of Nick Szabo, and Bitcoin is a bad project because it used ideas of Bit Gold as reference. You really think it's so bad? I just can't get, why are pointing me that?

I don't want to hurt someone, we are just discussing.

[so98nn]

Bitcoin can't help organizations and investors get rid of the fear that this is all just a bubble.
Bitcoin is important step to revolution of the whole financial system, but not the last. It exists now, because not many people understand that Bitcoin is relic of the past. Ethereum is much more promising than Bitcoin with it's smart-contracts. HODL Ethereum not Bitcoin, when the disaster comes, Bitcoin won't survive.

There is really something on your head which is not right at all mate. You are thinking completely wrong about the bitcoin. With the advancement of more enthusiasts bitcoin actually has captured more and more investor based attention. On one hand people do think that bitcoin can give rise to decentralised banks and on the other hand it has futuristic use in the share market to inter-country transfers. In this case, sky is not the limit! You never know what amazing usage might just come out if someone really push it hard. The big game!

Second: why not to trade Bitcoin?
How are you predict price of Bitcoin? TA indicators?
Ranges? Support/Resistance? Price action? Candle patterns?
[...]

HODL and trade that's what got most of the people to use bitcoin. They gotten more than enough by holding it, trading it with intra day to long term positions. In fact with my own experience I can suggest that one must try bitcoin trading and see how useful it would be to gain good position over the time.

[Johnyz]

Holding Bitcoin for years now, it makes me more profitable without exerting any effort so I don't have any problem with holding bitcoin, and since I make more money than my capital, I can say that its not that risky.

We all have strategies in this market, and you can't say that TA will not work because it has been used by many traders over the decades now and its already proven and tested. If you don't like bitcoin and only support altcoins, then so be it but you cannot force everyone here to follow you.

[mindrust]

ETH shares the exact same on-chain problems as Bitcoin. If you think Bitcoin is outdated, then ETH also is. The thing is though, the only solution to their problems is reducing their decentralization levels. If you want them to be super fast and super cheap, then they need to be super centralized as well. You just cannot have all three.

Strange statement, Ethereum not shares all problems with Bitcoin. Just think a bit, why are there so many cryptocurrencies developed at different times? You really think that they were developed, just so developers can profit from it? You right! But not all crypto were developed for that purpose. Litecoin, Bitcoin cash, Ethereum, Monero, and many others were developed to mitigate drawbacks of Bitcoin, but have their own issues aswell. I think it's not impossible for some cryptocurrency to be decentralized, fast, cheap, and convenient, if developers are trying to improve base ideas of Bitcoin.

ETH is almost as expensive as bitcoin to operate. People who say Bitcoin is very expensive also not using ETH anymore. They use other currencies and they are either very centralized or nobody is using it so there is more room. Litecoin, Bitcoin Cash or Monero will also have the same problems as Bitcoin once more people start using them. (btw BCH is more centralized than the others because of its block size)

Decentralized, fast, cheap.

Pick 2.

You can't have all.

[maydna]

I believe we all have our own choice for our bitcoin, whether we want to hold or trade. We know what we should do with bitcoin, and besides of hold bitcoin, I am sure many of us also hold the other coins that can increase. I hold bitcoin for years, but I also trade bitcoin to earn more bitcoin and hold it for more. I did too with the altcoin because I am using crypto for short, medium, and long-term investment. Whenever I see the price can surge to high price, I sell for some amount and take my profit, while I will wait for the other time to buy back the coin at a low price.

If you ask about what Bitcoin exactly can give? I will say that bitcoin provides us with a chance to make money from the internet because we live to need money, and while people busy making money from their offline, we have another way to make money.

[tvplus006]

A year ago, I did not believe that bitcoin would be able to reach its ATH of 20 thousand dollars. Today, I have no doubt that the price of BTC will reach 100 thousand dollars and which is not the maximum for bitcoin. Given this potential for BTC growth, both traders and investors will be able to make a profit. Which of them will eventually earn more is a topic of a separate conversation.

[Mauser]

First: why not to HODL Bitcoin?
HODLing require from you to hold long position for years. You assume that the price will go up long-term. But why it should go up? General reason for that assumption is that many and many people, enthusiasts, developers, investors, organizations of the whole world get to recognize Bitcoin more. This results to encreasing money flow and price. But in essence, what Bitcoin exactly can give? Of course, decentralizaton, self emission, a bit privacy. But Bitcoin lack some features, that other cryptocurrencies have. Bitcoin can't give people enough transaction speed and convinience. Bitcoin can't give developers convinient methods to build applications. Bitcoin can't help organizations and investors get rid of the fear that this is all just a bubble.
Bitcoin is important step to revolution of the whole financial system, but not the last. It exists now, because not many people understand that Bitcoin is relic of the past. Ethereum is much more promising than Bitcoin with it's smart-contracts. HODL Ethereum not Bitcoin, when the disaster comes, Bitcoin won't survive.

I understand your motivation for holding Ethereum instead of Bitcoins, but why not just hold both? You say that other crypto currencies are better than Bitcoins, but you are forgetting that for many people Bitcoins are the Crypto Currency. There is just no way around it. The last few months should have been the best example of why holding Bitcoins is a good idea. Personally, I will keep holding both ETH and BTC. Also, I prefer holding coins long term and not to trade too much.

[crzy]

A year ago, I did not believe that bitcoin would be able to reach its ATH of 20 thousand dollars. Today, I have no doubt that the price of BTC will reach 100 thousand dollars and which is not the maximum for bitcoin. Given this potential for BTC growth, both traders and investors will be able to make a profit. Which of them will eventually earn more is a topic of a separate conversation.

This is also my realization and this situation pushes me to hold more Bitcoin because the bull trend with Bitcoin is inevitable and its too painful to watch the price trend if you don't have Bitcoin on your portfolio.

There's no wrong in holding, and study says holding are more profitable compare to trading in the long term, and with Bitcoin that's proven and tested. I know there's a lot of good altcoins, that's why there's a strategy that suggest you to diversify, this can also work for you.

[Maslate]

Well, I think OP is not really a fan of Bitcoin. All your suggestions and protection towards Bitcoin haven't good for him.

We don't need to argue why we hold Bitcoin or not. OP has already decided what could be the best coin for him and he should keep and trust it. It is not this time we have to see the result and to knows who wins either the Bitcoin holder or ETH holder (OP).

We all are here for a reason and most of us are here for investment. And we are free to choose which one seems to be best and profitable. Because for me, I hold and traded them both.

[boyptc]

But that's it, bitcoin is the firstborn and it's the most adopted and accepted crypto in the world. It wouldn't change the fact of what you're saying but that's it.

And another fact that all of the new coins including the older ones only took the idea of bitcoin.

Seashells were the firstborn, adopted, and accepted currency in history, aswell as, rice, silver, and gold. But this is not reject the fact that they have weaknesses, that in long-term, made them not valuable or practical. Paper money replaced gold cause of convinience. Cryptocurrencies is intended to replace fiat, but Bitcoin have long-term issues, that i described earlier.
There is nothing wrong to modificate ideas of Bitcoin to make better crypto.

There has been debates about that and changes.

I think I'm seeing the improvements of it and that made bitcoin better this time. There will be an unending modification based from the thought of everyone but it cannot replace those facts that I've also mentioned.

[adzino]

So, do you have some sort of personal vendetta against bitcoin or something? You are clearly telling people not to hold bitcoin, but to hold other altcoins. That makes zero sense at all. In fact, it has been seen that bitcoin is actually a better store of value than any other altcoins. I was expecting you to shill for some altcoins, but looks like you are an Ethereum fanboy. At least you aren't promoting some shitty altcoins.
What what is this "disaster" you are talking about? What makes you think that Ethereum would be able to survive, but not Bitcoin?

[trigger1975]

You're just trolling, right?  Your posting does not make any sense whatsoever otherwise.

[goldade]

I don't know how you came about this conclusion but  what I can say is that it's totally absurd. If you'll compare Ethereum to Bitcoin, then you'll need to compare their price movement over the years. Look at what bitcoin achieved in its first five years and compare it to that of Ethereum.
Compare the price movement of bitcoin in the last five years to that of Ethereum and determine which has more potential. I don't know why you'd think Ethereum has more potential than bitcoin when Ethereum is still under $2000 and bitcoin has break $50k. 
If you however think Ethereum is better than bitcoin, then good for you.

[MCobian]

I understand what you mean to say that Bitcoin is imperfect and has weaknesses that might harm us if we HODL or trade. But indeed all coins
are not perfect, including Ethereum is also imperfect and has weaknesses.  Therefore, proper research and analysis is needed before investing
in cryptocurrency. It is not wise to forbid people to HODL and trade Bitcoin because Bitcoin is imperfect and has weaknesses. Because if you do
your research properly, there are a lot of people who get rich because of HODL and Bitcoin trading. I myself also feel huge profits with HODL Bitcoin,
I don't know the reason you actually think negatively about Bitcoin. But I will still choose Bitcoin as the best coins for HODL or trade.

[Anrix2036]

As i can see, not many people are read the whole topic. I suggest everyone to read all replies before posting your reply.

You're just trolling, right?  Your posting does not make any sense whatsoever otherwise.

If you don't agree, then make your words more argumented. I'm tired of people that just saying "nonsense" to anyone they don't agree. Look how my posting is structured and argumented. If you think that my arguments are "nonsense", then prove it, aswell as I'm trying to prove my beliefs.

So, do you have some sort of personal vendetta against bitcoin or something?

I've already told that i have not any personal hate against Bitcoin. I am repeat: read the whole topic.

What what is this "disaster" you are talking about? What makes you think that Ethereum would be able to survive, but not Bitcoin?

I've already told about issues that Bitcoin have, and Ethereum have not, but let me clarify.
Bitcoin became more centralized due to ASIC mining. China is the leader in the Bitcoin mining industry, the most of Bitcoin's hashing power are centered in China, cause they can produce ASICs cheaply, and electricity is relatively cheap there. By statistics in the Internet, China may have hashing power over 51% of the whole Bitcoin network. That means China can perform 51% attack on Bitcoin network, but currently they don't do that. But how can we trust Chinese government that they will not suddenly consider Bitcoin as the threat of Chinese currency? This is not conspiracy, if China have power to attack Bitcoin, this will be disaster for it. Cryptocurrency needs to be decentralized, for long-term investment.
I think this issue is the most dangerous.

Well, I think OP is not really a fan of Bitcoin. All your suggestions and protection towards Bitcoin haven't good for him.

We don't need to argue why we hold Bitcoin or not. OP has already decided what could be the best coin for him and he should keep and trust it. It is not this time we have to see the result and to knows who wins either the Bitcoin holder or ETH holder (OP).

We all are here for a reason and most of us are here for investment. And we are free to choose which one seems to be best and profitable. Because for me, I hold and traded them both.

I've already told: do what you want, this is your money. My purpose is to share my thoughts with crypto community.

If you ask about what Bitcoin exactly can give? I will say that bitcoin provides us with a chance to make money from the internet because we live to need money, and while people busy making money from their offline, we have another way to make money.

Of course Bitcoin can give money as any other crypto. But by "what Bitcoin exactly can give?" I mean it's intrinsic value. If Bitcoin have clear disadvantages, like centralization, that will break it in next several years, i suggest to not hold it for too long. The last decision is on you of course.

ETH shares the exact same on-chain problems as Bitcoin. If you think Bitcoin is outdated, then ETH also is. The thing is though, the only solution to their problems is reducing their decentralization levels. If you want them to be super fast and super cheap, then they need to be super centralized as well. You just cannot have all three.

Strange statement, Ethereum not shares all problems with Bitcoin. Just think a bit, why are there so many cryptocurrencies developed at different times? You really think that they were developed, just so developers can profit from it? You right! But not all crypto were developed for that purpose. Litecoin, Bitcoin cash, Ethereum, Monero, and many others were developed to mitigate drawbacks of Bitcoin, but have their own issues aswell. I think it's not impossible for some cryptocurrency to be decentralized, fast, cheap, and convenient, if developers are trying to improve base ideas of Bitcoin.

ETH is almost as expensive as bitcoin to operate. People who say Bitcoin is very expensive also not using ETH anymore. They use other currencies and they are either very centralized or nobody is using it so there is more room. Litecoin, Bitcoin Cash or Monero will also have the same problems as Bitcoin once more people start using them. (btw BCH is more centralized than the others because of its block size)

Decentralized, fast, cheap.

Pick 2.

You can't have all.

I haven't told that LTC, BCH or XMR are better than BTC, I've mentioned them because, many developers are see deep problems of Bitcoin, and are trying to solve them.
The main disadvantage of Bitcoin, is that it cannot be changed. Any major changes of source code leads to new cryptocurrency. Ethereum just more flexible, and have gone the difficult way to prove it's value.

Bitcoin can't help organizations and investors get rid of the fear that this is all just a bubble.
Bitcoin is important step to revolution of the whole financial system, but not the last. It exists now, because not many people understand that Bitcoin is relic of the past. Ethereum is much more promising than Bitcoin with it's smart-contracts. HODL Ethereum not Bitcoin, when the disaster comes, Bitcoin won't survive.

There is really something on your head which is not right at all mate. You are thinking completely wrong about the bitcoin. With the advancement of more enthusiasts bitcoin actually has captured more and more investor based attention. On one hand people do think that bitcoin can give rise to decentralised banks and on the other hand it has futuristic use in the share market to inter-country transfers. In this case, sky is not the limit! You never know what amazing usage might just come out if someone really push it hard. The big game!

I really like your enthusiasm, really. But read the whole topic. Decentralized banks are not possible with Bitcoin, cause it's centralized. If there is cryptocurrency that faster than Bitcoin, more secure, durable and convenient, that crypto may become more important in the near future. And this is not necessary to be Ethereum, I just don't see better, long-term alternative, in case if Bitcoin will totally fall.
Don't be overwhelmed by Bitcoin dominance, in crypto market, changes can happen in the matter of days, you're all know this better than ever.

I don't know how you came about this conclusion but  what I can say is that it's totally absurd. If you'll compare Ethereum to Bitcoin, then you'll need to compare their price movement over the years. Look at what bitcoin achieved in its first five years and compare it to that of Ethereum.
Compare the price movement of bitcoin in the last five years to that of Ethereum and determine which has more potential. I don't know why you'd think Ethereum has more potential than bitcoin when Ethereum is still under $2000 and bitcoin has break $50k. 
If you however think Ethereum is better than bitcoin, then good for you.

I'm not saying that Ethereum is more profitable than Bitcoin, I'm trying to say that Bitcoin have problems that will lead it to fall, and Ethereum have enough technical concrete to withstand, and maybe become next dominant.

And one more thing, I'm not saying that Bitcoin will crack right now, I'm saying that it happen in next several years.
I'm not forcing anyone to beleave me or do like i suggest, we need to talk about anything regarding Bitcoin, to make cryptocurrencies better instrument for investing, trading, and use.

[maydna]

If you ask about what Bitcoin exactly can give? I will say that bitcoin provides us with a chance to make money from the internet because we live to need money, and while people busy making money from their offline, we have another way to make money.

Of course Bitcoin can give money as any other crypto. But by "what Bitcoin exactly can give?" I mean it's intrinsic value. If Bitcoin have clear disadvantages, like centralization, that will break it in next several years, i suggest to not hold it for too long. The last decision is on you of course.

Bitcoin gives an investment value that can increase in the future because if the demand is bigger than the supply, that can impact the price. Even if the price fluctuates, that will not be a problem because it will be back to the higher price. Bitcoin gives privacy to us to manage our own money, which nobody knows how much actually our money. We can convert it into an altcoin, convert it again into bitcoin, and then send it to the other wallet if we don't want other people to know about our bitcoin amount.

[danherbias07]

You want people to shift to Ethereum after a long time passion into keeping Bitcoin.
That's okay.
But the same goes for Bitcoin fans.
If only we all shifted to Bitcoin then the value of it will be better. Not just that, the focus of completing the new way of transactions could have been done years ago with the help of great minds who created the altcoins. But they didn't, instead they created their own kind of crypto currency and try to tell investors this will be better than Bitcoin.
 
Competition is healthy in business but you could not please everyone. They have their own opinions and understanding of how the world works.
I'd very much like to just keep them both for the future.

[Emitdama]

Trading is always a very difficult thing to do, it doesn’t matter what you’re trading whether it is Bitcoin or stocks on forex and options, the thing is that there are more possibilities of you losing your money than making profit, that’s why you’re being told that over ninety percent of the people who are traders are losing their money every day. But that doesn’t mean people will stop trading, there are those who will continue the trading no matter what.

By the way I don’t see anything wrong with Holding Bitcoin at this time, it still has a long way to go, although I don’t know what waits for it in the future. Well for now we can only use it the way it is, but I believe there will be a solution when the time is right.