Never Sell Your Bitcoin: Is This Idea Foolish or Smart?

[topbitcoin]

I honestly don't agree if the context of thought is “never sell your bitcoin” because basically someone has a plan in bitcoin ownership for a specific purpose, and at a certain time will definitely do jail, even people who hold long-term even like 1 decade or two decades have determined the time of sale, meaning that he will sell it even though he holds long-term.

And the right title is, hold your bitcoin in the long run as in the sentence you used OP on what you said in your argument, I would strongly agree with this because it is proven that bitcoin if held in the long run will provide benefits to its owner with the price increase that bitcoin has experienced so far.

[Furious 7]

Regardless of whether it is large or small I think it is not a problem because in the end we benefit according to the portion whether it is a bitcoin holder for a large amount or a smaller nominal.
If we are talking about the problem of profit, of course we must realize that profits will not be abundant when the capital is ordinary as well as when in bitcoin but that does not mean we are not profitable, it's just that we have to realize what portion we have.

Never selling seems to be a condition that I don't think is too appropriate because after all it doesn't mean we shouldn't sell especially when talking about investing then we have definitely determined the point where we will stop but in this case maybe what is more certain is not to sell when you are still at a loss and not yet at your destination because we ultimately have a focus that is all almost the same as financial freedom as a hope so as long as it is still the initial goal and as long as we are still able to be in bitcoin why do we have to sell in the end.

[el kaka22]

Well, "never" sounds like a bad plan, because if you "never" sell then you never have it, it is basically gone, you are not going to be seeing any difference between you never selling and you burning it and destroying it. So the "never" idea makes no sense, it's definitely foolish.

Don't sell unless you have to is a greater idea, if you can hold it and you do not need to sell it then hold it as long as you can, let it grow and if you pass away then make your child do the same thing, if you are old, like 60+ years old and you have no child, then sell it and just spend it mate at that point you are not going to leave it to anyone.

So, all I am saying we should consider how we could make it change in a way that would make sense for people to have better results, it should be something that would take a good long time, but that doesn't mean that it is going to be easy, we just need to make sure that it is going to take a while, and not that easy to handle at all. We could see something changing, and because of that we are going to end up selling and maybe we can even trade after a while.

Finally, what I am trying to say is that don't have that "never" sell mindset, it is useless to keep it hoarded like that.

[tabas]

In reality, such an approach benefits the large Bitcoin holders the most, and it can be quite unfriendly to smaller Bitcoin holders.

It is not unfriendly if someone sells their Bitcoin holdings, whether they are small or big. Look at the institutions, when the market plunges, you'll see their names on the headlines that they've dumped Bitcoin. To them, it's just pure business but to us, this is a real fortune of our lives. Those who have plans of never selling their Bitcoin, I don't know what to say to them because they have their own ways of approaching their holdings. But I don't think that they'd hold forever because times might come to them and they'll be required to sell for their own sake. What matters IMO is on how you'd maximize your holdings and it will serve as if it is your lifesaving and there are folks already that have planned all well in the future and treats it as their retirement plan.

[Darker45]

It's not to be taken literally. Never means not ever, not today, not tomorrow, at no time in the future, not at all. So, what's the point of it all? You invest your savings in Bitcoin, you take a couple of jobs and a side hustle, even deprive yourself of some things, work hard, and use a significant portion of your salary to buy Bitcoin; hell, you even sell properties to buy Bitcoin, and then you won't do anything about your coins? You'll just accumulate and accumulate more of this thing called Bitcoin until you die? What is Bitcoin, salvation?

I don't interpret it this way. When I advise or say hodl or never sell your Bitcoin, I only mean that they keep it long term, that they don't sell it just because the price increases 5, 10, 20 percent or because it corrects, that they don't convert just because they want to buy the latest iphone.

[AirtelBuzz]

In reality, such an approach benefits the large Bitcoin holders the most, and it can be quite unfriendly to smaller Bitcoin holders.

Our only objective in investing in cryptocurrency is to earn profit regardless of the coin we invest in. Similarly when we invest Bitcoin our only aim is to earn good profit from it, so many investors hold it for long term even short term.

But OP as you mentioned in the title of this post, "never sell your Bitcoin". Does this mean you want to hold the investment forever? We all have a specific plan and goal before investing even when to sell the investment we decide in advance. It depends on the investor how long they will hold their investment. Many want to hold the investment for 4 to 5 years and many want to hold for longer. No matter how long hold our investments, we sell them as needed. Maybe OP you should do the same.

[reagansimms]

In reality, such an approach benefits the large Bitcoin holders the most, and it can be quite unfriendly to smaller Bitcoin holders.

The intelligence of the investor depends on his decision when to sell or buy. The purpose of investing is only to get a commensurate return, for investors who have held Bitcoin for the long term it is a good idea to sell some Bitcoin when it is traded at a high price. Price fluctuations that always play a role in Bitcoin's journey can be utilized to buy back when Bitcoin is trading at a cheaper price.

For small scale Bitcoin holders, they can also take advantage of the price increase to sell Bitcoin, the profits obtained can be reused to buy more Bitcoin at a cheaper price. Investing in Bitcoin is not always measured by how long you are able to hold Bitcoin, but you must be able to prioritize the initial plan when investing. Ideally in my opinion, when the price is high, sell immediately and buy again at a cheaper price.

[BALIK]

Never Sell Your Bitcoin: Is This Idea Foolish or Smart?

Instead of asking others, ask yourself if you held bitcoin forever, what benefit would that bring you? Each of us is different, we are not the same in terms of economic conditions, the number of bitcoins we hold, the pressures in life are completely different...So, it's entirely up to you how long you hold your bitcoin or keep it forever.
If you ask me, for me bitcoin is an investment and holding it is only for the purpose of improving my life so I don't see any reason or see any benefit in holding it forever and not selling.

[Lanatsa]

In reality, such an approach benefits the large Bitcoin holders the most, and it can be quite unfriendly to smaller Bitcoin holders.

The intelligence of the investor depends on his decision when to sell or buy. The purpose of investing is only to get a commensurate return, for investors who have held Bitcoin for the long term it is a good idea to sell some Bitcoin when it is traded at a high price. Price fluctuations that always play a role in Bitcoin's journey can be utilized to buy back when Bitcoin is trading at a cheaper price.

For small scale Bitcoin holders, they can also take advantage of the price increase to sell Bitcoin, the profits obtained can be reused to buy more Bitcoin at a cheaper price. Investing in Bitcoin is not always measured by how long you are able to hold Bitcoin, but you must be able to prioritize the initial plan when investing. Ideally in my opinion, when the price is high, sell immediately and buy again at a cheaper price.

We do have our own will
We do have our own preference
We do have our own choice
We do have our own decisions

Outcomes and results would really be that entirely be depending into someones personal decisions about his/her coins. Your money your rules as we do all know.
Investors could really be classified whether they are short term holders or they would really be that going for long term. Selling out on high peak prices and making up some entry
on crash or bear markets then it is really that the basic stuff about buy low and sell high thing but doing on the right time or position will really be the toughest challenge among all.
We do have our own targets or goals on which we know that when it comes to this aspect then it would really be something that will be that into their interest and preference.

[AmoreJaz]

It's not to be taken literally. Never means not ever, not today, not tomorrow, at no time in the future, not at all. So, what's the point of it all? You invest your savings in Bitcoin, you take a couple of jobs and a side hustle, even deprive yourself of some things, work hard, and use a significant portion of your salary to buy Bitcoin; hell, you even sell properties to buy Bitcoin, and then you won't do anything about your coins? You'll just accumulate and accumulate more of this thing called Bitcoin until you die? What is Bitcoin, salvation?

I don't interpret it this way. When I advise or say hodl or never sell your Bitcoin, I only mean that they keep it long term, that they don't sell it just because the price increases 5, 10, 20 percent or because it corrects, that they don't convert just because they want to buy the latest iphone.

Sell if you think you are already gaining profits and you have the need of cash. It is not advisable to deprive yourself for something you can afford and such need is basic need. You can always find a way how to earn that back. The reason why you want to earn more is to alleviate your living. So what's the point of holding your coins if you can't afford to buy your food or pay your bills?

[tottong]

In reality, such an approach benefits the large Bitcoin holders the most, and it can be quite unfriendly to smaller Bitcoin holders.

And if connected by holding Bitcoin is a good idea of course you are right.
The question is, how do bitcoin holders in small amounts also have to be profitable like large bitcoin holders? This must be a reference and we often consider small people not to have the opportunity like that of the rich.
In fact, investment in the equivalent that only distinguishes the level of capital possessed by someone so that those who have large capital are considered quite profitable.

When a smaller bitcoin holder is not friendly then make an investment plan so that we can achieve the same luck.
DCA patterns and strategies may be a hope that can be run because in this way a person can continue to gather even though the capital he has is small.

[barisbilgili]

Sell if you think you are already gaining profits and you have the need of cash. It is not advisable to deprive yourself for something you can afford and such need is basic need. You can always find a way how to earn that back. The reason why you want to earn more is to alleviate your living. So what's the point of holding your coins if you can't afford to buy your food or pay your bills?

That's right the point is never be greedy because in investing in Bitcoin of course we have a plan from the start and when it has been achieved then we should continue to run as planned and to start it again we can do the same thing as the beginning again even though in a different situation.
And to meet the needs in life is a must, regardless of any investment it cannot be maintained if our stomachs are empty.

However for some people who have financial stability, I think the idea of ​​never selling Bitcoin for a long time is not stupid, because we never know what will happen in the future, it could be that it will get big profits.

[South Park]

In reality, such an approach benefits the large Bitcoin holders the most, and it can be quite unfriendly to smaller Bitcoin holders.

To begin with, who can actually achieve that? If you are investing your money in bitcoin, the most likely reason for this to be the case is that you want to increase your capital and protect yourself from inflation, but at some point you may want to use part of that wealth for yourself, so never selling is a goal that is difficult to achieve, a better goal is to set the time you want to hold your coins, and once that time passes you can start to think about what will be the best use for that wealth, which could include to keep holding your coins as you do not need them right now.

[Jatiluhung]

In reality, such an approach benefits the large Bitcoin holders the most, and it can be quite unfriendly to smaller Bitcoin holders.

And in fact, everyone who has made long-term investments in Bitcoin from 5 years to 10 years ago or more has now made huge profits. And I think it doesn't matter if they want to sell some or all of what they have that they have held for a long time. But for those who have just entered this season and they intend to invest long term, they really have to adhere to their initial plan for those who want to invest long term. And you must remember that long-term investment means you are ready to hold it for a minimum of 5 years. So for those of you who are not ready to hold for at least 5 years, you may be more suited to medium-term investment. And there is no problem selling it at any time when you are satisfied with the profits you have made.

[DeathAngel]

I think the whole HODL forever thing is stupid. What’s the point taking extreme wealth to the grave. Unless you have a very high paying fiat job then HODL forever is dumb. Let’s say you HODL for 10 years & you are up 1500% are you supposed to not move to a better area to a bigger house to make your kids have a better life? Of course not, it’s dumb. Never sell ALL of your Bitcoin is smart though.

[avp2306]

In reality, such an approach benefits the large Bitcoin holders the most, and it can be quite unfriendly to smaller Bitcoin holders.

Never been a foolish idea since its proven that holders gain for that decision they are doing and so far I could up read some good statement regarding that everything is doing good especially on their decision to hold. The one I usually see crying for their losses are those newbie traders which hopes for something great to come up each trades with their picked coins in the market, but their expectation didn't show up and what they encounter are those unpredictable situation which cause them to lose their money.

But also if you hold then make sure you have target year on when you gonna sell your bitcoin so that we could able to enjoy the profits we got since that is what we are targeting for having decisions to hold our bitcoin.

[Rockstarguy]

In reality, such an approach benefits the large Bitcoin holders the most, and it can be quite unfriendly to smaller Bitcoin holders.

What is the essence of having bitcoin when you don't sell it?? Normally you would always hear people say don't sell your bitcoin,  this doesn't mean you won't sell your bitcoin at all, it is just an encouragement for one to hodl bitcoin for sometime because doing this is the only way you can add value to your bitcoin.  Bitcoin is a volatile asset and one of the reasons why people get bitcoin is to keep it for sometime. If people buy bitcoin and not having any plan to sell then their is no reason to have Bitcoin because keeping and never to use it in the future is like having nothing and their is no sense in it.

I think it would have been better for you to make some research to have good understanding of what it means by never to sell bitcoin, it just means hodl for sometime to have profit before you decide to sell bitcoin.

[Finestream]

Regardless of whether it is large or small I think it is not a problem because in the end we benefit according to the portion whether it is a bitcoin holder for a large amount or a smaller nominal.
If we are talking about the problem of profit, of course we must realize that profits will not be abundant when the capital is ordinary as well as when in bitcoin but that does not mean we are not profitable, it's just that we have to realize what portion we have.

Never selling seems to be a condition that I don't think is too appropriate because after all it doesn't mean we shouldn't sell especially when talking about investing then we have definitely determined the point where we will stop but in this case maybe what is more certain is not to sell when you are still at a loss and not yet at your destination because we ultimately have a focus that is all almost the same as financial freedom as a hope so as long as it is still the initial goal and as long as we are still able to be in bitcoin why do we have to sell in the end.

Exactly. Never sell your bitcoin doesn't mean that you won't be selling your bitcoin forever as it's certainly impossible, but most likely for the time being where your goal price isn't reached yet, then it's always advised to never sell when there is not yet massive profits or when you are going to sell at a loss. You have to be responsible with your investment and avoid letting your emotions to decide when to sell, but sell only when you know there is logical reason to sell.

[Dzwaafu11]

I guess for long term holders who have held for more than 4 or 5 years and have seen a lot of profits from holding, they can decide to sell off a bit of their Bitcoins. But then everyone has their own personal reason to hold or sell.

exactly. Every investor has a target for their investment. Many of them set a specific target for which, if the bitcoin price rises, they will sell. Although I believe that someone who has been hodling for the past 5 years will reach their target now, we may have some people whose target hasn't been reached, but still, it will be hard to get because for the past 5 years the bitcoin price has been very low compared to the current one, unless such a person is targeting $100k or maybe some will sell some part of it and continue hodling the rest.

[CryptopreneurBrainboss]

In reality, such an approach benefits the large Bitcoin holders the most, and it can be quite unfriendly to smaller Bitcoin holders.

If you aren't greedy and invest in accordance with you risk tolerance level, you shouldn't be selling until you have reach the end of your investments duration. If you planned to hodl Bitcoin until it reaches $100k and it does that then you can sell. Nobody has the right to tell you when to sell or not to sell. The ideal begin not selling is to encourage people to keep hodling and not being weaklings that sells when they see any pressure on the market. If we keep selling we won't be able to benefit from when Bitcoin prices increase so we are always advised to hodl and not sell unless there are life and dead problems.

once you need FIAT you exchange what you need.
In Business you need places where to store value.
Money has to work in order to produce more money and sustain your lifestyle.

My philosophical is that I can't be hungry and I have an investment that can be sold to attend to my hunger and I wouldn't do it just because I'm holding. We forgot too soon that once you're dead, there's no coming back from that and your assets and everything you worked for can be misuse and your heirs loses everything through mismanagement or ignorance. If you need fiats, don't go borrowing and giving yourself unnecessary debts but sell and solve your problems that are needs and not wants. Wants can wait for the profits from your investments to afford them.