Outhue (OP)
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May 22, 2023, 06:24:19 AM |
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As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.
Is all we can do as a Bitcoin investor is to HODL?
Is there any way to HODL and make more BTC?
I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?
Also, What are those RSK Bitcoin for? Any benefit at all?
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Zaguru12
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May 22, 2023, 06:42:29 AM |
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Bitcoin and Ethereum uses different mechanism, while the latter can be staked, the former cannot. From your question the only way you earn while holding and not considering trading is to stake your coins and bitcoin doesn’t supports staking. Is there any way to HODL and make more BTC?
While holding bitcoin, I think the easiest way to earn more is just by providing a lending service. With the lending service strictly tied to been payed back on bitcoin worth and not necessarily dollar worth of bitcoin you can earn gradually with the interest rate that comes off it. Imagine having to lend out 0.1btc and the repayment is like 0.12btc this gives an extra earning while you still have your 0.1btc as an holding. If this doesn’t guarantees the much profits you are yarning for then it is best you pick up trading alternatives or you start mining bitcoin, both are profitable but expensive to startup and also involves risk
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un_rank
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May 22, 2023, 07:04:09 AM |
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but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?
The benefit is that the price has the potential to increase and you get to use a decentralized currency which resists inflation. Any form of staking or passive earning means it stops being decentralized. Also, What are those RSK Bitcoin for? Any benefit at all?
It is an altcoin which takes your actual bitcoin from you. While holding bitcoin, I think the easiest way to earn more is just by providing a lending service.
Lending comes with an increased risk of loses cause you can not guarantee that your debtors would repay, you can only try to vet them by reputation and decide who gets a no-collateral loan and who does not. - Jay -
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hd49728
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May 22, 2023, 07:47:42 AM |
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Is all we can do as a Bitcoin investor is to HODL?
Not all investors can hold or hodl. They call themselves as investors but what they do is trading like traders. Is there any way to HODL and make more BTC?
Holding means you don't touch it and you only wait to take profit with better price in future. Making more bitcoin is not holding, you are thinking about getting passive income with your bitcoin, like staking altcoins. It's not holding. If you send your bitcoins to a platform like exchange, that provides you staking program with a APY for interest from staking, you can get more bitcoins. Think about risk before you do that because "Not your keys, not your bitcoins". When you send your coins to exchange, join staking program, you don't have its key. The exchange can file bankruptcy, suspend their operations like Hotbit.
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blockman
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May 22, 2023, 08:17:21 AM |
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As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.
Is all we can do as a Bitcoin investor is to HODL?
Is there any way to HODL and make more BTC?
I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?
Most likely, yes. That's all that we can do with our Bitcoins and that's to hold it. You have the choice to put that into an interest account of exchange and you'll get to earn maybe somewhere from 2%-5% APY if you deposit there. But are you sure that you're liking that term if there are no keys that are given to you while you're allowing an exchange to hold your Bitcoins for you? That's why I've said that it's most likely that it is. Also, What are those RSK Bitcoin for? Any benefit at all?
This? ( https://coinmarketcap.com/currencies/rsk-smart-bitcoin/) If so, then it's like just like those wrapped Bitcoin but they're not real Bitcoin.
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irhact
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May 22, 2023, 08:35:18 AM |
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I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?
Ethereum just recently moved from the proof of work algorithm to proof of staking and that's why you can earn more Ethereum from just holding and staking it. Bitcoin can't be staked and don't send your Bitcoin to any exchange offering staking rewards. Bitcoin is a currency while Ethereum is a platform used for building decentralized application and that's the difference between both projects. If you want to earn more Bitcoin, increase your income and use the money received to buy more Bitcoin, you can also trade Bitcoin and increase the amount you own but that's very risky. Staking increase the centralization of a project and Bitcoin can't have such traits.
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Dunamisx
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May 22, 2023, 08:49:14 AM |
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As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before. Are you saying that you're not a fan of bitcoin investment rather but an altcoins investors or you're just considering bitcoin for an investment to make, as long as you invested, your asset is working for you because when the market rises you also stand the chance to earn more. Is all we can do as a Bitcoin investor is to HODL? You can hodl but not only by holding, you have to have a specific target on your holding as to when to sell or limit your holdings to especially when you've earn some money over time after the bullrun happened and before the market begins to fall, you can sell out. Is there any way to HODL and make more BTC? Target the bullrun season when the bitcoin will get to a new all time high but before then, study the price trends and know the current position, speculate well and buy the dip and hodl, you could also invent into bitcoin trading, which is a short time of investment and you could earn as well through this.
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Kemarit
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May 22, 2023, 01:51:03 PM |
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As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.
Is all we can do as a Bitcoin investor is to HODL?
Is there any way to HODL and make more BTC?
I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?
Also, What are those RSK Bitcoin for? Any benefit at all?
Are you talking about Staking per se with your bitcoin? But I think staking is only applicable to PoS that's why Ethereum move their model into it. But obviously Bitcoin is still PoW and I doubt that we will move into PoS in the near future. So in any case, yes, the best thing for a Bitcoin investors is HODL. Risk is that if you don't know how to have a good safety and security practice, there are chance that you might lose it through hacks. The obvious benefit is that you are going to make profits if you invest on a bear market, accumulate, buy and have the mentality to HODL and then wait for the right time to sell in a bull run.
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cryptoaddictchie
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May 22, 2023, 01:56:49 PM |
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Is all we can do as a Bitcoin investor is to HODL?
Is there any way to HODL and make more BTC?
Yes you could only hodl and wait for its value to increase then sell it once its appreciated through monetary value. Once bitcoin drop again you could increase your holding by buying it back so basically you increase your asset in bitcoin. Its purpose is to be use for transaction for peer to peer as per Satoshi vission and goal. Cant really compared that into eth which has different consensus that can increase through staking. If you are fond of increasing your asset then go for altcoins. Cant really much do on bitcoin about this.
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Jawhead999
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May 22, 2023, 02:27:48 PM |
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You know right staking has a term about centralization and there are many cases where the altcoins network or smart contract get hacked? and now you're talking about staking Bitcoin when you were pointed out to not hold crypto on a centralized exchange ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) Changed hands account? or someone who have many personality ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) You can't trust any centralized exchange even if they are the top #1 rated over the web, it still doesn't guarantees that your assets will be safe on the exchange.
Centralized exchanges are the ones in the custody of your private key, they are not non-custodial.
If your purpose of depositing on Binance exchange is not to keep funds there then it makes no sense to me why you need an exchange that can give you more than one address, you can do this comfortable in non-custodial wallets too, like meta mask wallet.
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Frankolala
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May 22, 2023, 02:38:33 PM |
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While holding bitcoin, I think the easiest way to earn more is just by providing a lending service.
Lending comes with an increased risk of loses cause you can not guarantee that your debtors would repay, you can only try to vet them by reputation and decide who gets a no-collateral loan and who does not. I don't it is a wise decision to loan out your bitcoin because of the volatile nature of bitcoin. Remember if you loan me 0.1btc today at 26+k to pay back 0.12btc in a month time and within that period of time the price of bitcoin dumps to 19k. When the person is to pay back and he pays you exactly 0.12btc,mate you made a big lost due to the price that you lend him at that time. It is better and safer to give out loan in fiat currency. The only way to make profit in bitcoin is to hodi for a very long time, maybe 10-15yrs with continuous DCA and you will be a winner. Staking your Ethereum is very risk because you no longer control your investment.
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Cryptomultiplier
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May 22, 2023, 02:52:07 PM |
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As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.
If only you could be more expository on what you mean when you say you put some coins to work. Is all we can do as a Bitcoin investor is to HODL?
Is there any way to HODL and make more BTC?
I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?
I believe one of the benefits of HODLing is that your coins will retain its value owning to the near steady nature of BTC. It is also more secure. Also, What are those RSK Bitcoin for? Any benefit at all?
I didn't want to write so much as to explain to clearify what the RSK Bitcoin mean. One fact is that it isn't a cryptocurrency on its own to be used to facilitate payment. It enables smart contract for big transactions and trades. It is still under the BTC Blockchain network. It has cheaper fees and speed of transaction is faster than the regular BTC charge or transaction speed which is about 10mins. Rootstock Platform (RSK) is a second-layer virtual machine that addresses specific limitations of the Bitcoin blockchain. It was introduced in 2014 by developers to increase Bitcoin transaction times and provide smart contracts. RSK is not a cryptocurrency or designed to be a payment method—it is a layer that works in the background to validate transactions much faster via merged mining. RSK also allows decentralized finance application developers to create their DeFi protocols, NFTs, or other digital assets using the Bitcoin blockchain. This will enable Bitcoin to become a cryptocurrency ecosystem similar to Ethereum. Fees have risen sharply since Bitcoin and Ethereum were first introduced, so RSK's innovative approach works to lower these fees. RBTC, or the RSK Bitcoin (RBTC), is the RSK token used to pay transaction fees for smart contracts on the RSK blockchain.
Here is a link to learn more about RSK Bitcoin: https://www.investopedia.com/news/what-rsk-it-threat-ethereum/
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buwaytress
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May 22, 2023, 03:08:18 PM |
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Putting your assets "to work" is a risk that's different from holding, though. And I know with Bitcoin, they'll try and sell you things like Bitcoin lending, but no risk mechanism or algorithm is completely safe.
And if they try to sell you "non-custodial" "Defi", such as wrapping your Bitcoin on another network... that's still you trusting the security of another inferior network.
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Yatsan
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May 22, 2023, 03:18:48 PM |
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As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.
Is all we can do as a Bitcoin investor is to HODL?
Is there any way to HODL and make more BTC?
I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?
Also, What are those RSK Bitcoin for? Any benefit at all?
One way to hold and earn is to stake your assets but be mindful if the platform offering staking services, is legitimate. I'd probably stick with DCA and swing trades to earn more. Akthough it has bigger risk but if things would be done using the right technical analysis, things would be somehow fine.There's nothing wrong if an investor would enter the market and will just choose. The conflict arises from our expectancies; if you are looking for bigger profit and in a quicker way, then prepare to take risks. There's no way you'd earn easily in any field of investment so what more in this cryptospace wherein prices are way too volatile.
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hannahB4
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May 22, 2023, 05:24:45 PM |
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The benefit of you holding your Bitcoin for two years is the fact that you can double your principal investment if you make a wise decision as to when you sell your coin. Also, you can trade with it, but for me, hold and see your money increase.
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Z-tight
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May 22, 2023, 05:42:12 PM |
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BTC is a coin that should be in self custody, so staking isn't possible and lending isn't recommended, you are using BTC because you want to be in full custody of it and spend it anytime you want to. The best way to get returns from BTC is by buying low and selling high, it is not something that will happen quickly, but in the long run. The benefit of you holding your Bitcoin for two years is the fact that you can double your principal investment if you make a wise decision as to when you sell your coin.
There's no fixed number of years that you can expect to get returns on the BTC's you bought. Buying with dca is by the way helpful, you don't have to spend too much at once and you have a better chance to get returns buying like this.
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cabron
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May 22, 2023, 05:54:08 PM |
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RSK is a smart contract platform that is a sidechain for Bitcoin. One project that I saw using this one is the Sovryn which is a defi platform. Not really something worth looking into unless you risk your BTC to trade with rBTC. Lots have been created these days for BTC usecase like the BRC20 and SRC20, maybe that's what you wanna look at. Join the craze of memecoins. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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Fivestar4everMVP
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May 22, 2023, 09:35:55 PM |
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Well, holding bitcoin in its original and decentralized form may possibly not offer any means through which the holder can earn more bitcoin in the process of holding. But if the holder so desire to earn more bitcoin in its original form, then the holder can utilize centralized services like earn or lending program to either stake their bitcoin or lend out their bitcoin for interest.. Also to enjoy the benefit of earning bitcoin through decentralized staking, providing liquidity and all that, one would have to buy wrapped bitcoin which operates in alternative blockchains like bsc, Solana, Renec blockchain and so on..
In the end, the final choice is on the holder to make.
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BALIK
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May 23, 2023, 02:18:26 AM |
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As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.
Is all we can do as a Bitcoin investor is to HODL?
Is there any way to HODL and make more BTC?
Are you talking about making a profit from staking ETH on platforms like Lido, stakewise...? As far as I know, participating in ETH2.0 staking means you have to transfer your ETH to 3rd party, which means there will be risk, and your assets will become more centralized. If bitcoin has this feature, it will reduce its decentralization, I really don't like this idea. Furthermore, holding bitcoin is also very profitable, and it ensures the privacy and anonymity of your assets, I think we should not break this wonderful thing just for a bit of profit.
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ImThour
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May 23, 2023, 02:34:03 AM |
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That's a really good question and I don't even know other than lending it at an interest rate to CEX, I am not sure if there is any way to make it work for itself. If we buy a property in NYC and rent it out, that would make money in two ways. But Bitcoin isn't going to do it on its own. I am sure there must be a way to grow more bits from the existing ones.
Ethereum is pretty cool on this thing, until the update as before that you couldn't do it. Now Proof of Stake allows you to do it.
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