Shall We Hold Our Bitcoin Like Gollum?

[glendall]

Many of us hoard more Bitcoins over time.

hoarding here in the sense that we invest so if we are able to buy as many bitcoins do it and we have confidence that we will benefit from our investment


Will we sell Bitcoin one day?

yes, we will sell our bitcoins someday, usually the main reason for selling bitcoins is that we need money suddenly and only bitcoins can we quickly turn into money at this time,

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[michellee]

That will be up to you because everyone who owns bitcoin will have their own plan about what they want to do with their bitcoin one day. If they think that selling their bitcoin can give them money to survive, they will do that. Otherwise, they will sell it for a long time or if they do not see bitcoin is not reach its target price. But I will sell bitcoin whenever it reaches my target price and try to buy back at a lower price if I can.

[Pom_bensin]

Obviously it’s nice to take some profits at times. I’ve been HODLING since 2014 & sold hardly anything. I will make bigger sells in Q4 though as I expect more ath’s towards the end of 2021. Never sell your whole stash though, bitcoin is going to gain more & more mainstream adoption as the years pass. We will probably see $1,000,000 per coin in the next 20 years.

Have you been holding since 2014? even if you sell now you already get a big profit. but you decide to hold. I am surprised by your decision. I'm sure you have done an analysis of bitcoin so you dare to accept the risk by holding bitcoin since 2014. This will make you get a lot of profit if you sell it. congrats bro, you will be rich

[Kong Hey Pakboy]

That will be up to you because everyone who owns bitcoin will have their own plan about what they want to do with their bitcoin one day. If they think that selling their bitcoin can give them money to survive, they will do that. Otherwise, they will sell it for a long time or if they do not see bitcoin is not reach its target price. But I will sell bitcoin whenever it reaches my target price and try to buy back at a lower price if I can.

And it's also a good thing that besides being up to you, you also should consider the climate of the market, if it's making a really good price, you might want to sell your bitcoin but always leave something behind so in case that it goes up again, you will still take some profit.

[ilovealtcoins]

Bitcoin bullishness is in vogue and the momentum of the bitcoin market going to be what people hoard the most in the future. Companies are buying Bitcoin, even El Salvador has bought itself hundreds of Bitcoins.
Haha, maybe we're Gollum right now or Thorin drowning in a treasure trove of gold. I think they just hold their Bitcoins during an uptrend. They will have to sell off Bitcoin to buy it back at a lower price. I like this trading idea more than trying to hold Bitcoin for years.

[tulpash]

Will we sell out of Bitcoin one day?

Yes, and  I did several times.
Not all are holding anyway as that was their choice nor I should have to hold forever but something to enjoy while I could still use it to buy stuff.
Maybe you are right that if everyone will hold it makes the price of Bitcoin dump but this had never happened in real life because not all are holding. Buying and selling is the nature of this market, might these people buy now and possibly sell it by tomorrow, that can be happening depending on their decision and the reason why they are here in crypto.

Bitcoin is interesting because it is both a currency and can be an investment. I really like the way you act. If we considered Bitcoin as a commodity like any other, we would be mere profit seekers.

As long as I'm involved with bitcoin, I just want to enjoy the beauty and comfort of life as long as I'm involved with bitcoin while I still have it.
I mean I always take advantage of bitcoin's rise when it hits highs to sell some of the profits to buy or manifest what I want and facilitate the life I really need so I can have it, and most likely if I wasn't involved with bitcoin I wouldn't be can make it happen.
So I don't fully hold my holdings for long term because I want to really enjoy and feel the benefits for my happy life with my family it's all because of bitcoin.

You are similar to the guy above. A person who takes advantage of an opportunity to trade. I understand the feeling of taking money out of an investment and enjoying the profits. It's sweet and comforting. I know people who have thousands of Bitcoins. He lives a simple life, doesn't drink, doesn't smoke, has no romantic relationships with women, and lives on a monthly minimum of about $300. I really admire his mindset and regret the pleasures he doesn't enjoy.

[tulpash]

• Is holding btc too long (HODL) a significant achievement?

You are similar to the guy above. A person who takes advantage of an opportunity to trade. I understand the feeling of taking money out of an investment and enjoying the profits. It's sweet and comforting. I know people who have thousands of Bitcoins. He lives a simple life, doesn't drink, doesn't smoke, has no romantic relationships with women, and lives on a monthly minimum of about $300. I really admire his mindset and regret the pleasures he doesn't enjoy.

• What does it mean that the price of bitcoin has reached 100k or 1m, while your expectations are not limited to those prices?

Human greed is very unpredictable. Even Newton swings to the top of stocks selling at a high price and buying at a higher price in the hope of greater profits.

• What advantages of bitcoin do you feel so far when you never spend any or use it?

For many people, transaction costs are greater than cryptocurrencies that hold them back. They will convert to other altcoins and pay to reduce costs. That's pretty cool too. Sometimes a little transaction fee but doing it many times is enough to erode our wallet.[/list][/list][/list]

[davis196]

Many of us are hoarding more Bitcoins over time. That is also the reason why Bitcoin dropped sharply on exchanges
transactions in the past few years.

This is one of the reasons.Many people got disappointed by the crypto exchange platforms,due to hacks,exit scams and high fees,so they left those platforms.
You don't need a crypto exchange platform,in order to keep your Bitcoins safe.I cold wallet is enough.
I used to be a fanatic HODLer before,but I realized that HODLing BTC just for the sake HODLing is pointless.
It's OK to sell a part of your BTC,when the market is heading towards a bear phase.
The centralized Crypto exchanges having less Bitcoins is actually a good thing.

[hatshepsut93]

Some people would say that they will use Bitcoin as a currency, but from a perspective of Bitcoin as an appreciating asset, both selling or buying something is the same - you are liquidating it.

Everyone will do it sooner or later, unless they will die unexpectedly or will want to pass some coins to their heirs.

I personally have some goals of things I want to buy with my Bitcoin gains, but I also plan to hodl some for a long time as an life-long fund.

[Kelvinid]

Many of us are hoarding more Bitcoins over time. That is also the reason why Bitcoin dropped sharply on exchanges
transactions in the past few years.

This is one of the reasons.Many people got disappointed by the crypto exchange platforms,due to hacks,exit scams and high fees,so they left those platforms.
You don't need a crypto exchange platform,in order to keep your Bitcoins safe.I cold wallet is enough.
I used to be a fanatic HODLer before,but I realized that HODLing BTC just for the sake HODLing is pointless.
It's OK to sell a part of your BTC,when the market is heading towards a bear phase.
The centralized Crypto exchanges having less Bitcoins is actually a good thing.

I just hold during the bear season and sell some when the market is about to recover. Having Bitcoin for me is focus on investing, not a commodity(for now).

Yeah, it found irrelevant thinking about to hold forever. I didn't found a good reason for that, well, many holders got rewarded this year but if they will never sell them, that is still nothing. If ever I hold it now, that probably someday I sold it. It comes to a real investing thing and to buy and sell is somewhat it really happens to me.

[Kusman]

As you can remember, the ring caused Smeagol to get worse and worse every day and he turned into a creature named Gollum. So when it comes to Bitcoin, of course we will sell at least some of our coins at some point. The main logic of HODLing is to sell after keeping your coins for a long term. Maybe you can set a price goal earlier and sell when it is reached. Or you can hold your coins for some years and then sell them when you make a high profit.

[uneng]

As you can remember, the ring caused Smeagol to get worse and worse every day and he turned into a creature named Gollum.

It's true, he got worse day by day because he had a greedy obssession for the One Ring that eventually made him completely change his lifestyle, going away from his traditional routine to live exclusively to worship the ring in dark places. For that reason I think we shouldn't hold our Bitcoin like Sméagol, as we know what happens if we do and I believe no one would want to be on his shoes.
It's important to always have in mind money or bitcoin is here to serve us and not the opposite. If adopters are able to keep a healthy relationship with their holdings and avoid repeating the example of Gollum they will thrive in their personal finances.

[Shasha80]

holding bitcoin is the right choice especially if we hold it for a very long time we will definitely get very big profits. I used to sell my bitcoins because of an urgent need but I didn't sell all the bitcoins I had. I still hold bitcoin and I will hold it until 2025 in order to get a bigger profit.

If you want to make a profit, it is better to hold Bitcoin, because the price of Bitcoin continues to rise, making Bitcoin demand also increase. The longer
we hold Bitcoin, the bigger the profit we should make. But we in holding Bitcoin must be flexible, meaning that if there is an urgent and important need,
it is not wrong to sell the Bitcoins that we have. And also let not greed dominate us, if the price of Bitcoin has gone up and the profit generated is
quite large, we must take profit. Don't put off selling Bitcoin for the reason that we want to make a much bigger profit. It just makes the opportunity
to make a profit lost.

[Kittygalore]

For me, it's better if we were to utilize a way to move your bitcoin as an investment instead of just hodling them which doesn't grow in number but still the safest bet. There are ways to invest your bitcoin with bankroll investing as one of them that makes a decent profit although there are days where there are losses but in the long-term, the house always wins.

[Tim-BTC]

In the past two years, I have invested in bitcoin. Now I need to sell a little bitcoin every month to pay for the loan. I think tomorrow will be a bear market. I plan to sell half of it before next year to ensure that my loan in the next year can be repaid on time and the rest can be held for a long time.

[UserU]

I just hold during the bear season and sell some when the market is about to recover. Having Bitcoin for me is focus on investing, not a commodity(for now).

Yeah, it found irrelevant thinking about to hold forever. I didn't found a good reason for that, well, many holders got rewarded this year but if they will never sell them, that is still nothing. If ever I hold it now, that probably someday I sold it. It comes to a real investing thing and to buy and sell is somewhat it really happens to me.

The opportunistic ones would keep their holdings in custodial wallets so they enjoy interests + price appreciation over sole price appreciation.

[Rajamuda]

There are already many people who hold Bitcoin, especially in terms of investment, they have their own investment targets, the most highlighted is the long term. It doesn't always cause the Bitcoin price to fall sharply, because the popularity of Bitcoin is increasing when the Bitcoin price is down... there will always be someone doing a new entry. Someone sells and someone else buys, it will continue like that. The people holding Bitcoin out there won't stop until the future, because we know Bitcoin becoming more looks recognized around the world.

[Nunoluck]

In my point of view there is no correlation between bitcoin holding and the recent bitcoin price fall. It is pure because of traders activities. The number of bitcoin users are not fixed, it is still growing. I think even there are some whales decide to take profit now then it is not a big problem because more people come to buy bitcoin. Holding bitcoin is good thing and use some of it as currency is better. Everyone has their own freedom to choose whether will hold it or use it. Actually for contrarian investors, when bitcoin price fall then it is a good time to buy. I am a contrarian investor and I already get a good position ( bought btc ) during last bearish market, I still have spare fund, if bitcoin price keep fall deeply then I will buy more. Now I will hold until certain btc price level based on my own strategy and calculation.

[swiftxi]

Better Gollum then Sauron 

[Natalim]

There are already many people who hold Bitcoin, especially in terms of investment, they have their own investment targets, the most highlighted is the long term. It doesn't always cause the Bitcoin price to fall sharply, because the popularity of Bitcoin is increasing when the Bitcoin price is down... there will always be someone doing a new entry. Someone sells and someone else buys, it will continue like that. The people holding Bitcoin out there won't stop until the future, because we know Bitcoin becoming more looks recognized around the world.

Just never sell your bitcoins all at once and it will make your future becomes secured. I think holding your bitcoin after you started selling some of them for profits will always be a perfect move because bitcoin should not only be as an investment but it should be more of as a currency. Spend your profits as much as you want. After all, you decide for your own because that's what bitcoin is all about, freedom.

I am currently holding bitcoin in my portfolio and i think it will be more valuable as the years pass so probably i will hold it as much as i want and maybe sell it in the future when i want it too.