Shall We Hold Our Bitcoin Like Gollum?

[tulpash]

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.
Will we sell out of Bitcoin one day? Like how the ring was thrown into volcanic lava.

[LFC_Bitcoin]

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.

[mk4]

Re: Shall We Hold Our Bitcoin Like Gollum?

You know what you should do? Whatever the heck you want! And I'm totally serious and didn't say that in an aggressive manner. If you disagree that bitcoin shouldn't be for hodling but instead used as a currency, then you're free to use it as a currency, and vice versa. That's the beauty of it— freedom to do whatever you want with it.

[bitmover]

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.
Will we sell out of Bitcoin one day? Like how the ring was thrown into volcanic lava.

Personally,  I have sold some of my coins in the current bull run. The gains were enormous,  and I think we will face a big bear market in the upcoming months or years.

Taking small profits now will make me feel better in a bear market, so that is what I did. If it helps you feel better and act more rationally in a bear market if you sell some now, you should do it as well.

As mk4 said, we are all free to do whatever pleases us. Imo, you should never regret taking profits, even if the price gets to new ath later on. Acting rationally is what matters,  and nobody can predict the future.

[kryptqnick]

I don't focus on profits when it comes to Bitcoin. I sell when I need to, and don't sell if I don't need money at a certain point in time. I want to use Bitcoin as a form of money, but the options of using it are so limited that usually I just have to sell it for fiat to buy stuff. Maybe I'll change my stance in the future and try to accumulate some BTC for long-term hodling, though, given how in my country, we're expected to invest into something to ensure our life when we get old because there will be no financial aid from the government when we get old. For now, I want to see more ways of using Bitcoin directly, as a form of money.

[NeuroticFish]

Many of us are hoarding more Bitcoins over time.

Indeed. And many also use it as currency too.

That is also the reason why Bitcoin dropped sharply on exchanges transactions in the past few years.

If you mean the number of Bitcoins at exchanges, I'd start by blaming the rich ones - usually companies - for doing that.

Will we sell out of Bitcoin one day?

No. We will just keep all of them until we die, since we don't like nor want to enjoy life. (/s)


PS. Did it occur to you that people/companies buying Bitcoin actually buy from others who are... um... selling? And since price is still way under 1 billion a piece, it means that there are plenty of sellers?

[tulpash]

Personally,  I have sold some of my coins in the current bull run. The gains were enormous,  and I think we will face a big bear market in the upcoming months or years.

Taking small profits now will make me feel better in a bear market, so that is what I did. If it helps you feel better and act more rationally in a bear market if you sell some now, you should do it as well.

As mk4 said, we are all free to do whatever pleases us. Imo, you should never regret taking profits, even if the price gets to new ath later on. Acting rationally is what matters,  and nobody can predict the future.

I would say we will drift with the trend, wait patiently and sell to buy back at a lower price. Enjoy the profits and enjoyment of redeeming Bitcoin as Gollum reclaims his treasure.

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.

Before Bitcoin reaches $1 million it will have to undergo a value adjustment. I would sell at $100k or $150k or perhaps $200k and buy back at lower.
My imagination looks so beautiful. I would be very happy if that happened.

[tulpash]

Re: Shall We Hold Our Bitcoin Like Gollum?

You know what you should do? Whatever the heck you want! And I'm totally serious and didn't say that in an aggressive manner. If you disagree that bitcoin shouldn't be for hodling but instead used as a currency, then you're free to use it as a currency, and vice versa. That's the beauty of it— freedom to do whatever you want with it.

Bitcoin should be exchanged, traded regularly. It is the value created from trading and holding. Holders create scarcity. I am thinking of many conspiracies around Bitcoin that holders can create like a big dump, big pump. In the end, they will all be Big Gollums.

Will we sell out of Bitcoin one day?

No. We will just keep all of them until we die, since we don't like nor want to enjoy life. (/s)


PS. Did it occur to you that people/companies buying Bitcoin actually buy from others who are... um... selling? And since price is still way under 1 billion a piece, it means that there are plenty of sellers?

The power of Bitcoin is as strong as the way the ring poisons the minds of its holders. Bitcoin is bullish and will increase in price in the future. We look at them like we look at our wealth. A wonderful, magical and precious property. We, we are all Gollum.

[bitzizzix]

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.

[suboo112123]

I think that every time is a good time to hold BTC because the BTC value is up In every year. I see every situation positively because I love BTC.

[noorman0]

This means that Golum holds bitcoins to the point of sacrificing himself and never really enjoying all of his efforts.
Just have questions for anyone who actually did this.

• Is holding btc too long (HODL) a significant achievement?
• What does it mean that the price of bitcoin has reached 100k or 1m, while your expectations are not limited to those prices?
• What advantages of bitcoin do you feel so far when you never spend any or use it?

[Ibrahim60]

Bitcoin is the most potential and popular crypto in the world and most profitable coin in my thought. I think this is also the good time to buy Bitcoin and hold them for future. Also if anyone already bought it then they should hold Bitcoin tightly. I think in the end of this year Bitcoin again hit $60k. This is not impossible for Bitcoin. Bitcoin price is so much volatile now. But don't worry and don't be panicked. Hold your coin and hopefully you will get huge profit.

[Ultegra134]

Many of us are hoarding more Bitcoins over time.

Indeed. And many also use it as currency too.

That is also the reason why Bitcoin dropped sharply on exchanges transactions in the past few years.

If you mean the number of Bitcoins at exchanges, I'd start by blaming the rich ones - usually companies - for doing that.

Will we sell out of Bitcoin one day?

No. We will just keep all of them until we die, since we don't like nor want to enjoy life. (/s)


PS. Did it occur to you that people/companies buying Bitcoin actually buy from others who are... um... selling? And since price is still way under 1 billion a piece, it means that there are plenty of sellers?

I used to use it as a currency in the past (was approximately back in 2013-2015, I'm not sure) and I'm pretty sure I'd prefer not having spent that money for something that I could have bought with real money. Can't say I exactly regret it, since there was no possible way I could have predicted it, however, I'd rather have my BTC now.

[Rahman11]

Experts recommend keeping your cryptocurrency investments to under 5% of your portfolio. If you've done that, then don't stress about the swings, because they're going to keep happening, according to Bill Noble, Chief Technical Analyst at Token Metrics, a cryptocurrency analytics platform.

[NeuroticFish]

The power of Bitcoin is as strong as the way the ring poisons the minds of its holders. Bitcoin is bullish and will increase in price in the future. We look at them like we look at our wealth. A wonderful, magical and precious property. We, we are all Gollum.

I don't want to be Gollum. I don't want to end in misery while I had Bitcoin in hand. No. So you are mistaken; no, not all from here are Gollum.

I used to use it as a currency in the past (was approximately back in 2013-2015, I'm not sure) and I'm pretty sure I'd prefer not having spent that money for something that I could have bought with real money. Can't say I exactly regret it, since there was no possible way I could have predicted it, however, I'd rather have my BTC now.

If one has plenty of income to just live good, I think that he can afford to HODL. Meaning hold forever.
But the normal people have to spend - sooner or later - also parts of the investment. Of course, it can be spent well or it can be spent only for the sake of it.
But looking back and wishing you did different is counterproductive. I've spent too. I will probably invest more, I will probably spend more. Life goes on.

[Ultegra134]

I used to use it as a currency in the past (was approximately back in 2013-2015, I'm not sure) and I'm pretty sure I'd prefer not having spent that money for something that I could have bought with real money. Can't say I exactly regret it, since there was no possible way I could have predicted it, however, I'd rather have my BTC now.

If one has plenty of income to just live good, I think that he can afford to HODL. Meaning hold forever.
But the normal people have to spend - sooner or later - also parts of the investment. Of course, it can be spent well or it can be spent only for the sake of it.
But looking back and wishing you did different is counterproductive. I've spent too. I will probably invest more, I will probably spend more. Life goes on.

I see what you mean, however, I'm not rich by any means either. The only BTC I've got left is from signature campaigns, and it's not too much. I'm saving it for future usage/investment, not because I necessarily want to hold, waiting or hoping for its value to rise, but because I don't have the financial need to use it.

I'm currently working, thus, I use my paycheck in order to live by, if I didn't work, I would also consider using some of those funds.

[mk4]

Bitcoin should be exchanged, traded regularly. It is the value created from trading and holding. Holders create scarcity. I am thinking of many conspiracies around Bitcoin that holders can create like a big dump, big pump. In the end, they will all be Big Gollums.

I mean, think about it: if they're actually hodlers, how can they cause a "big dump"? As their coins are pretty much taken off the markets in the first place.

But regardless, then again, you can do whatever you want with your coins.

[dothebeats]

To a certain extent, I think that is the right way to do it, although if ever you need the money, why would you restrict yourself so bad into holding it all if you could get some from it? Trading bitcoin to your local currency whenever you need it is not a crime, and can even save you from getting yourself in debt. The decision would always be yours, but it’s not a crime to sell some in order to gain some when it comes to bitcoin.

[Yamifoud]

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.

[Shenzou]

The Op has a point, we won't live forever and no one knows what the future holds for us or whenever we are going to die, so what is the point of holding bitcoin for a long time if you are not going to reap the rewards of doing so, you should always try to enjoy life while you can and take some of the profit that you make from holding on to bitcoin for years and take your family on a nice vacation or buy that car you always wanted because nothing lasts forever even bitcoin.