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

[Maslate]

Never sell your bitcoin turns out to be a foolish idea if you already have seen decent profits in front of you but still you are hesitant to sell hoping that there's more to come in the next couple of days or months. You need to sell when there are significant profits already. Don't be too greedy, but instead know when to sell your bitcoin and know when to hold more. Hodling is good but it has also its certain limitations.

[Lanatsa]

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

Dont need to stress out yourself when it comes to this on which on the moment that you had bought bitcoin then it would neither for you to sell out in profits in short term basis
or you would really be just that basically making yourself simply hold those coins for long term? It would really be just that depending on you on which each person does have their different
targets or goals when it comes into their Bitcoin holdings. You cant stop them whether they would really be selling out neither big or small coin holders because the main purpose on why
people are dealing or engaging with Bitcoin isnt really that totally because of its utility but rather because into the earning opportunity that does it have.

Selling or holding then it would really be that just depending on you, if you do find out that BItcoin would really be giving out that good profit in upcoming years or future
in compared into those traditional investments then it would really be just that depending on you.It would really be that basing on what you do prefer nor targets.

[uneng]

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

This concept works as a marketing which aims boosting Bitcoin price by decreasing the supply of coins for sale, so the increasing demand will push Bitcoin upside constantly. However, on practice it doesn't make much sense, because you can't use your Bitcoin at all as currency, because there aren't many shops and services accepting it as payment method nowadays.

Therefore, you need to exchange your BTC into fiat first in order to use your money. For that reason, I think it's a bad idea to just hold BTC, as I consider important to use the money to benefit you, otherwise you are the one who is serving money and not the opposite.

[serjent05]

@OP the title is foolish IMO.  Holding is good but eventually, we need to sell in order to realize our profit.  Holding and not selling are two different things.  Investors hold not to keep Bitcoin for eternity but they are not selling until they have reached the goal price.

You won't get profit if you don't sell your holdings @OP.  And it is foolish to miss out on a good profit when you know it is happening.

[passwordnow]

A very subjective thing but majority will tell you that it will be a foolish idea. I have sold in the past and that tends out to be a mistake that I am still extracting right now and contemplating whether it will be a great idea to do it for this cycle. Because if someone is a long term holders and he don't intend to sell on this cycle, then it will be foolish for him to sell it while looking forward in the future with a target price that's quite high for the floor and ceiling price for what this bull run will reach.

While for someone who has got plans already on how she/he will spend the holdings that they have. It's not a foolish idea because we're all aiming for some specific profits and we've got needs to cater from the profits we're about to make from our holdings. You do you, as they say. And we've got our own preferences whether it will be acceptable to just hold for long term and let that ATH pass on you without doing anything or you do the opposite and even the ATH hasn't been reached and you're very much satisfied by the time that you've sold your holdings. This is in general regardless of what you hold, for sure that each of us have his/her own targets that we're all going to do it no matter what people say to you, either you're short or long on investing.

[tottong]

Never sell your bitcoin turns out to be a foolish idea if you already have seen decent profits in front of you but still you are hesitant to sell hoping that there's more to come in the next couple of days or months. You need to sell when there are significant profits already. Don't be too greedy, but instead know when to sell your bitcoin and know when to hold more. Hodling is good but it has also its certain limitations.

It's not too stupid when we make long-term investment ideas because holding is an option until ATH arrives and people expect this.
If the short-term investment pattern and involvement in trading may be true that not selling when you have made maximum profit is a mistake.
Holding has no limits as long as you want to hold until ATH but we have to think about how to collect.

Sometimes limited by capital so choosing to hold alone will not make assets more because it takes time to wait for a significant increase period to buy back at the profits obtained previously.

[Xcode7]

Never sell your bitcoin turns out to be a foolish idea if you already have seen decent profits in front of you but still you are hesitant to sell hoping that there's more to come in the next couple of days or months. You need to sell when there are significant profits already. Don't be too greedy, but instead know when to sell your bitcoin and know when to hold more. Hodling is good but it has also its certain limitations.

It's not too stupid when we make long-term investment ideas because holding is an option until ATH arrives and people expect this.
If the short-term investment pattern and involvement in trading may be true that not selling when you have made maximum profit is a mistake.
Holding has no limits as long as you want to hold until ATH but we have to think about how to collect.

Sometimes limited by capital so choosing to hold alone will not make assets more because it takes time to wait for a significant increase period to buy back at the profits obtained previously.

It all depends on the plan we implement at the beginning of starting the investment, whether it is for the long term or the short term, but what is certain is that selling Bitcoin is not a stupid act, I even think we should also sell the Bitcoin that we save when our stomachs are empty.

And for how to save or add Bitcoin assets, we have our own way and I am sure that everyone who invests in Bitcoin already has a plan for the future and has also studied many things in advance.
And especially for Bitcoin, I am sure we have the same belief that there will be the highest price in the future that we will see again, so for other things I think there is nothing to be afraid of.

[Republikcoin.com]

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

Actually, it is a smart idea if you are an investor or someone who likes to store Bitcoin for a long time with a very large amount. But if your soul is a trader, I think it will be difficult for you to implement such an idea, especially if you are someone who is easily tempted by small profits that come only in a moment. So I think whether an idea is smart or stupid depends only on each person who responds to it more rationally so that their own judgment will always be different.

[Obim34]

Never sell your bitcoin turns out to be a foolish idea if you already have seen decent profits in front of you but still you are hesitant to sell hoping that there's more to come in the next couple of days or months. You need to sell when there are significant profits already. Don't be too greedy, but instead know when to sell your bitcoin and know when to hold more. Hodling is good but it has also its certain limitations.

The word Never SELL seems like investing money into Bitcoin just for fun with no intentions of making profits. I disagree with that statement as well, rightly because we all seek for profits that's the perfect reason we chose Bitcoin, whereas we can't get those profits then what more. It is far much different to say Do Not Sell your Bitcoin Too Early, it's a lot reasonable because investors are now on the run to take quick profits which doesn't maximize their chances of making more.

[Scarlett_23]

Bitcoin is a currency.  And this currency is a good source of investment.  Whether you are small investor or big investor?  The point of investing is to get profit from it in a certain period of time.  There is no fixed period for it may be two years, three years, or five years.  However after a while the only objective is to get some profit from it.  It's not entirely clear to me what you mean by "never".  If we invest somewhere according to our ability we will sell by looking at its ATH only then our desired goal will be achieved.  But for a short period of time, our profit is less, but after a long time, we are sure to get the profit from here. Bitcoin started at $0.10 and its ATH reached $73,737.94.  So if one has another source of income then I would say hold on to it for a long time.

[retreat]

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

It is more precisely “sell your Bitcoin at the right time” because if someone buys Bitcoin usually the goal is to get profit, and when they want to achieve maximum profit then they need to sell their Bitcoin according to the goals they have previously set, for example like 4-5 years in the future. Because how can they get the profit they want if they never sell their Bitcoin? that's why they need to sell at the right time to get the profit as they expected before.

[Bright0515]

It may be foolish although. Because every investment needs profit it is true that Bitcoin is rising everyday but there can still be a factor that would hinder the holding, for example, in my country the currency exchange to dollar is not stable sometimes it increases and sometimes it falls. So for the one trying to sell Bitcoin your major focus is to sell it at the right time and this process may benefit those who have lots of Bitcoin in their possession because you can sell today and tomorrow it rises or even sell it today and tomorrow it falls but you will not be that affected because you can still keep others to you own satisfied time. In the market of exchange nothing is permanent things can change within the blink of an eye.

I once received a cash in my account in dollars I Neva wanted to take it because the dollar exchange in my country was not stable but a friend advised me to take it and at last I took it later the next day the price went down and till today it has not risen to the price it was then.

So every investor in Bitcoin must also watch the status of the market and sell it at right time don't be ignorant to sell Bitcoin when the appropriate time comes.

[naira]

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

I don't know the size you set for holding a certain amount of Bitcoin, especially the category of small Bitcoin holders. It could be $1 $10 or even more, when you become a long-term investor, the calculation of profit depends on the amount you hold. Estimates will determine everything and when the purchase price was made. 10 years ago or just done today when bitcoin was in the $66K area. All will have significant differences between those who bought 10 years ago, 5 years ago or 1 year ago depending on the point of purchase.

[Iranus]

@OP the title is foolish IMO.  Holding is good but eventually, we need to sell in order to realize our profit.  Holding and not selling are two different things.  Investors hold not to keep Bitcoin for eternity but they are not selling until they have reached the goal price.

You won't get profit if you don't sell your holdings @OP.  And it is foolish to miss out on a good profit when you know it is happening.

I think the OP has a reason to ask this question because as far as I remember correctly, I have seen some people also claim that they will hold bitcoins forever and will not sell them under any circumstances. In fact, there are many people who are so crazy about bitcoin that they even consider it a religion to worship rather than just seeing it as a means to make our lives more stable. And honestly, the fact that we don't sell any bitcoin is actually the dumbest idea when it comes to investing. There are many things in this life that are much more important than bitcoin, Bitcoin is just money and it only serves us, not us serving it.

[kryptqnick]

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

There are different ways in which 'never selling Bitcoin' can be understood. If it's never selling in a figurative sense (meaning that at some point you do sell, when the price is right), that's fine. If it's 'never selling' but not 'never using' (meaning, you don't sell, but you can spend it directly to obtain something great), it makes sense. But if it's literally just keeping BTC indefinitely, without ever using it, that's not benefiting anyone. Such BTC is sort of dead for the system (because it's de facto not a part of circulating supply), and it's just numbers on a screen to an owner who never uses it to gain something.

[Peanutswar]

People have different use with their coins, some of them have a short-term goal like having a quick flip with the market price movement so they keep earning profit during the market volatility others would not care how much the price and as long as they accumulate coins with their DCA and holding for a long term goal they still get their profit they don't need to get bother with the market price movement at all. I do the same thing I have separate asset for a long term holding and wait for the next ATH, also I have bitcoin for active trades for its different pairs.

[TheUltraElite]

I think the OP has a reason to ask this question because as far as I remember correctly, I have seen some people also claim that they will hold bitcoins forever and will not sell them under any circumstances. In fact, there are many people who are so crazy about bitcoin that they even consider it a religion to worship rather than just seeing it as a means to make our lives more stable.

Considering bitcoin as a cult, I have seen such references previously, but these are just exaggerations and not reality. In fact being obsessed over something is a bad, whatever it might be. Selling is a part of the market and those who need the money should sell.

The point of having that notion previously was to allow people give time to bitcoin and observe how it goes over the years. Newbies would often buy at the high prices and sell before it broke even. That is why such statements were previously made.

[bitgolden]

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

It is more precisely “sell your Bitcoin at the right time” because if someone buys Bitcoin usually the goal is to get profit, and when they want to achieve maximum profit then they need to sell their Bitcoin according to the goals they have previously set, for example like 4-5 years in the future. Because how can they get the profit they want if they never sell their Bitcoin? that's why they need to sell at the right time to get the profit as they expected before.

I agree, if they want to make some profit then they will have to sell, while it could be 40 years down the line or tomorrow, it doesn't matter. We need to just think about how things aren't really looking for anything that would be all that smart for the time being, it would still be smart to hold it for as long as possible.

This is why I think it's important to just focus on what to do and how to improve our investments. This is why I think it's quite clear that we are going to end up facing something much worse, and that won't be all that easy to handle, we need to end up with something that will be considered not so great at all times. We should be considering how things could change, and because of that we are going to be seeing something more.

We need to keep it for this time, wait for the bull to happen, and then we can sell when it peaks, that would actually be the ideal situation and I am sure that we are going to end up with a great return on that one without a doubt. Of course it won't be a simple situation, but it will be what we have and that is more than enough, won't really require anything else, we just need to consider that as the way forward when you look at the market.

[ndutndut]

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

Basically it all depends on yourself in selling bitcoin because everyone has their own investment goals, each investor's target must also be different. So stupid ideas or smart ideas all depend on your choice, because in my opinion the goal of bitcoin investment for everyone is to seek profit not to hold bitcoin for life.

Moreover, bitcoin has a cycle that we can use as a reference to make decisions when to buy and sell. If you sell before ATH it might be a stupid act, but if you sell it when bitcoin ATH is reached it is a smart choice. This is the importance of every investor to be able to manage this risk management so as not to make the wrong decision. The point is when can you sell bitcoin intelligently? when you feel that the profit you get has exceeded expectations then selling is a wise choice, then you can buy it back when the price is down.

[tottong]

It all depends on the plan we implement at the beginning of starting the investment, whether it is for the long term or the short term, but what is certain is that selling Bitcoin is not a stupid act, I even think we should also sell the Bitcoin that we save when our stomachs are empty.

And for how to save or add Bitcoin assets, we have our own way and I am sure that everyone who invests in Bitcoin already has a plan for the future and has also studied many things in advance.
And especially for Bitcoin, I am sure we have the same belief that there will be the highest price in the future that we will see again, so for other things I think there is nothing to be afraid of.

Maybe it is necessary to make a percentage of this and that related to selling bitcoin because of the empty stomach problem.
When someone is seen in an investment, the steps that are considered are how the investment can generate maximum profit and of course people will see the potential in the long term as the chosen step.
But if you have to sell bitcoin for daily needs, then people should have the amount of bitcoin that is traded, the goal is so that it does not affect the assets we have and does not sell every time you need money.

Because of the potential reasons in bitcoin that make us have confidence in the long term and that's why we have to have steps to collect.
Any strategy is good as long as we can continue to collect responsibly and hold it until it gets the next ATH momentum.