Never sell your Bitcoin?

[Peanutswar]

Depends how you will satisfy yourself because some of the people would like to sell their bitcoin because they already gained profit which depends on your preferences if you think you need more time because you want to have some specific amount good for you but if you want to wait for meantime and wait for another wave its ideal too but again it depends how much time you can resist holding your bitcoin. Some people say sell your bitcoin because it gives you a profit or its takes too much losses but again its better to know when is the right time to sell the decision are still yours. Never trust the speculation of other instead invest with your knowledge.

[worle1bm]

I just want to see what the general consensus is about selling Bitcoin. The well-known Bitcoin advocate, Mr. Michael Saylor, has said that you should never sell your Bitcoin, you should hold it for a lifetime. He believes that when you sell bitcoin, you will be taxed, but if you hold it, you can borrow bitcoin at a good interest rate (tax-free). Platforms such as Block Fi provide such services.

What do you think of this problem? If I double my investment during the next bull market, then for liquidity purposes, I will most likely not sell a bit. I really like Bitcoin and its direction of development, so regardless of short-term price fluctuations, I plan to invest in the long-term.

At one point you would have to cash out your profits by selling or make the transactions to buy the stuff because if you are not making any move with your Bitcoins then with time your net worth would increase but in reality you would have no liquid cash so you have to sell It directly or indirectly if you want to have funds with you.Although I agree with Saylor that we should hold for bit more long time and wait for the prices to skyrocket and then do whatever we want to do.The main usage was to make it fiat alternate and if everyone will hold the coins how will there be circulation in market? Btc dormant address would increase so as to keep it normal we need to sell off at some point.

[Luzin]

If I was an active trader then I wouldn't do that. My trading orientation is profit seeking. Through analysis I always try to buy BTC at the low price and sell at the highest price. Or several times I bought a BTC altcoin pair to increase my BTC amount. For BTC I will buy again when the price drops. It would be more relaxing for me. But I know all have their own ways and steps that are considered the best for you.

[boyptc]

if you say never sell your bitcoins, I think everyone in this forum will agree with your opinion, because we all know bitcoin has hope for the future, the price of bitcoin will rise again in the future, for now maybe the whales will do everything possible to frighten weak hands, to be able to take the bitcoins we have,

It's different from a view of selling your bitcoins at the highest possible rate that it can ever be than never to sell your bitcoins.

What's the purpose of holding bitcoin if you're never going to sell it?

[cheezcarls]

I just want to see what the general consensus is about selling Bitcoin. The well-known Bitcoin advocate, Mr. Michael Saylor, has said that you should never sell your Bitcoin, you should hold it for a lifetime. He believes that when you sell bitcoin, you will be taxed, but if you hold it, you can borrow bitcoin at a good interest rate (tax-free). Platforms such as Block Fi provide such services.

What do you think of this problem? If I double my investment during the next bull market, then for liquidity purposes, I will most likely not sell a bit. I really like Bitcoin and its direction of development, so regardless of short-term price fluctuations, I plan to invest in the long-term.

Depends on the circumstances that we are in, especially emergency situations in life. It's better to sell BTC at a profit and never at a loss. It is your choice whether to sell it or not, but the most important thing is that you should always put in your mind that investing or trading Bitcoin is highly risky. Just put an amount that you can afford to lose, as Bitcoin's price movement is unpredictable.

And you mention about selling BTC (through fiat converting and not while it's in the trading platform) could get you taxed, in which some governments are imposing that as part of their regulation, and you can't avoid that.

[dimonstration]

if you say never sell your bitcoins, I think everyone in this forum will agree with your opinion, because we all know bitcoin has hope for the future, the price of bitcoin will rise again in the future, for now maybe the whales will do everything possible to frighten weak hands, to be able to take the bitcoins we have,

Its good to hold bitcoins if we were in for future uses or depending on the circumstances. There is still time to buy and to hold so we can acquire more or use to built or growth our portfolios like when the price were too high earlier this year, I'm glad I was able to sell my BTC that can be use to buy other investments since we don't know the span the price will be high or at low or next time that BTC will reach its ATH again it better to use that time and just buyback when prices falls.

[Hendra gunawan]

if selling our bitcoin, it means we are missing the opportunity to become rich.  There is no investment instrument that has a higher return than bitcoin.  Bitcoin is the money of the future and blockchain is the most advanced technology.

[ndalliard]

if selling our bitcoin, it means we are missing the opportunity to become rich.  There is no investment instrument that has a higher return than bitcoin.  Bitcoin is the money of the future and blockchain is the most advanced technology.

i mostly agree, but blockchain is a fucking slow database - more like a necessary evil

[Henrobakkara]

if you say never sell your bitcoins, I think everyone in this forum will agree with your opinion, because we all know bitcoin has hope for the future, the price of bitcoin will rise again in the future, for now maybe the whales will do everything possible to frighten weak hands, to be able to take the bitcoins we have,

It's different from a view of selling your bitcoins at the highest possible rate that it can ever be than never to sell your bitcoins.

What's the purpose of holding bitcoin if you're never going to sell it?

I agree with you. It doesn't make much sense in that regard that you should never sell your Bitcoin, but I too believe investors will definitely take profits from our investment. There will come a point in time when you will want to have a form of satisfaction from what you have invested in over a period of years so you must sell some of your bitcoin at some point.

[RILWAN]

It depends on what your needs are if you don't need money to pay for your bills then you can continue to hold your Bitcoin in other to make good profits from the bitcoin volatile market.

[ndalliard]

if you say never sell your bitcoins, I think everyone in this forum will agree with your opinion, because we all know bitcoin has hope for the future, the price of bitcoin will rise again in the future, for now maybe the whales will do everything possible to frighten weak hands, to be able to take the bitcoins we have,

It's different from a view of selling your bitcoins at the highest possible rate that it can ever be than never to sell your bitcoins.

What's the purpose of holding bitcoin if you're never going to sell it?

I agree with you. It doesn't make much sense in that regard that you should never sell your Bitcoin, but I too believe investors will definitely take profits from our investment. There will come a point in time when you will want to have a form of satisfaction from what you have invested in over a period of years so you must sell some of your bitcoin at some point.

also if you earn in bitcoin and spend in bitcoin and don't have any fiat left it is pretty stupid to not "sell" bitcoin...

[bitterguy28]

many people spend their money to buy bitcoin with the aim of making a profit in the short term they don't think bitcoin is for the future, but only people who know the future profit is bigger they will hold bitcoin in the long term.

though there are instance that Bitcoin really good for  shortterm investing .

Like those who bought back in 2020 march and then sell at May when the price doubled just that fast.

[iTradeChips]

Well, the thing here is, I really do not care how others would deal with their Bitcoins. If they HODL it then go ahead, let them be. I will not interfere nor tell them not to do it. Let them sell it, let them hold it, let them give it away to their girlfriends. You should not be forcing your opinions to the others if that is what they want and if that is what they need to do with their Bitcoins, after all of the factors that they can consider, it gave them that decision to do so on their coins then by all means.

[ndalliard]

Well, the thing here is, I really do not care how others would deal with their Bitcoins. If they HODL it then go ahead, let them be. I will not interfere nor tell them not to do it. Let them sell it, let them hold it, let them give it away to their girlfriends. You should not be forcing your opinions to the others if that is what they want and if that is what they need to do with their Bitcoins, after all of the factors that they can consider, it gave them that decision to do so on their coins then by all means.

amen. like the ancaps say: don't tread on me. let me live and i will let you live. and the last one: everyone will get into bitcoin at the exactly right time (or maybe out again too)...

[CryptoStar19]

So long as the narrative around bitcoin is a digital store of value, HODLing super long term would the preferred strategy.

[Vishnu.Reang]

Well, the thing here is, I really do not care how others would deal with their Bitcoins. If they HODL it then go ahead, let them be. I will not interfere nor tell them not to do it. Let them sell it, let them hold it, let them give it away to their girlfriends. You should not be forcing your opinions to the others if that is what they want and if that is what they need to do with their Bitcoins, after all of the factors that they can consider, it gave them that decision to do so on their coins then by all means.

Most of those advocating for HODL doesn't really care about the other users. They are just afraid that if a lot of the users sell their coins, then the exchange rates may fall. And the same people who are advocating for HODL will dump their coins at the first opportunity, if there is a need. Personally I would go for an ideal mix of profit booking and long term holding. There needs to be a good balance between these two. In such cases, you will not incur big losses if Bitcoin suddenly becomes worthless, and at the same time you will be left with enough coins in case Bitcoin appreciates by 10x or 20x in the future.

[ndalliard]

So long as the narrative around bitcoin is a digital store of value, HODLing super long term would the preferred strategy.

look into the history of money, is has to be first store of value an then it can transition to medium of exchange

Well, the thing here is, I really do not care how others would deal with their Bitcoins. If they HODL it then go ahead, let them be. I will not interfere nor tell them not to do it. Let them sell it, let them hold it, let them give it away to their girlfriends. You should not be forcing your opinions to the others if that is what they want and if that is what they need to do with their Bitcoins, after all of the factors that they can consider, it gave them that decision to do so on their coins then by all means.

Most of those advocating for HODL doesn't really care about the other users. They are just afraid that if a lot of the users sell their coins, then the exchange rates may fall. And the same people who are advocating for HODL will dump their coins at the first opportunity, if there is a need. Personally I would go for an ideal mix of profit booking and long term holding. There needs to be a good balance between these two. In such cases, you will not incur big losses if Bitcoin suddenly becomes worthless, and at the same time you will be left with enough coins in case Bitcoin appreciates by 10x or 20x in the future.

that's not what i experience - i pay and earn in bitcoin and i don't care what you do

beeing normal, keeping the balance, sounds boring

edit: typo

[hitsnorth]

I'm going to sell most of my BTC when it hits 150k. If it drops i'll buy some more and wait until 250k. I want to buy a house and maybe a car with my income from BTC.

[jaminunit]

You could borrow against your savings. they way you don't sell but have liquidity

[ndalliard]

Long term run and if the timing is right, earning from bitcoin investment is very possible. Buy with low value then
wait for some time and sell it with good amount of profits.

i don't understand why someone would sell the best money to "take profits" (not talking about selling to pay for bills, a house or whatever). also if the timing is right, that is a big if - not worth it imo