Risk of holding bitcoin forever

[vanesha]

I think they must have had a long-term plan. Those who store assets there must have had a good plan for their storage. At the very least, they've backed up their wallets properly. Private keys, phrases, and passwords must have been stored and backed up in a safe and memorable place. It's impossible to forget so many assets that easily. Even now, I've never heard of a case of losing a significant amount of assets due to forgetting passwords or security measures.

[Strongkored]

I think they must have had a long-term plan. Those who store assets there must have had a good plan for their storage. At the very least, they've backed up their wallets properly. Private keys, phrases, and passwords must have been stored and backed up in a safe and memorable place. It's impossible to forget so many assets that easily. Even now, I've never heard of a case of losing a significant amount of assets due to forgetting passwords or security measures.

Yes, it should be like this. People who have held Bitcoin for a long time definitely have a plan for their assets, even though they might not have initially anticipated the price would reach this level.
And what the Op mentioned, "forgetting password" is just a common occurrence. I mean, even people who are only considering holding Bitcoin for a short period of time or mid-term can forget their password or fail to keep proper records of their wallet due to carelessness, lack of knowledge can also be a cause.

[terrific]

We need to enjoy both the life and the Bitcoins we got while they are here.

That's the lesson for me

I have to agree on this one.
Holders will realize that at some point of their lives, they'll have that time to sell for their own personal reasons.
Whether to enjoy, to buy things and stuff they like or for some important expenditures that they need to do it.
But in all of that, never forget to enjoy life and since the world is uncertain. You'll never know what might come tomorrow.
At the same time, you're also cautious of what you're building in the future and so there's balance in holding and selling Bitcoins.

[Akbarkoe]

The present is different from the past of course from the perception will be different about bitcoin, we see a lot of people who do not back up their bitcoin properly, I remember there are people who send it to the wrong address, and also store it on a flashdisk and then lose it and after a few years looking for it but not finding it, now with many guidelines in securing assets will definitely be more concerned with it, so the conclusion will be different for those who want to store in the long run, today's options are different from the options in the past.

[DiMarxist]

The present is different from the past of course from the perception will be different about bitcoin, we see a lot of people who do not back up their bitcoin properly, I remember there are people who send it to the wrong address, and also store it on a flashdisk and then lose it and after a few years looking for it but not finding it, now with many guidelines in securing assets will definitely be more concerned with it, so the conclusion will be different for those who want to store in the long run, today's options are different from the options in the past.

You can't compare the knowledge available today to what was uptainable years back. In the early days of Bitcoin most people who even invested in Bitcoin didn't give it that much chance that it was going to be a big deal in the years to come, that is why when it comes to safeguarding their seed phase most of them didn't give it much attention. Today the awareness level has increased when it comes to safeguarding of seed phase which is very important when it comes to security of your bitcoin assets.

[Akbarkoe]

The present is different from the past of course from the perception will be different about bitcoin, we see a lot of people who do not back up their bitcoin properly, I remember there are people who send it to the wrong address, and also store it on a flashdisk and then lose it and after a few years looking for it but not finding it, now with many guidelines in securing assets will definitely be more concerned with it, so the conclusion will be different for those who want to store in the long run, today's options are different from the options in the past.

You can't compare the knowledge available today to what was uptainable years back. In the early days of Bitcoin most people who even invested in Bitcoin didn't give it that much chance that it was going to be a big deal in the years to come, that is why when it comes to safeguarding their seed phase most of them didn't give it much attention. Today the awareness level has increased when it comes to safeguarding of seed phase which is very important when it comes to security of your bitcoin assets.

I'm just answering what's in the OP, so I'm not trying to compare them, but that's the question. LOL

Those who invested in bitcoin at the time when it was launched and forgot about it, there are many among these who forgot their password. That is like losing all your money just because you held very long. Those who are investing now and plan to hold forever, are they in better position or their fate will be similar ?

yes no one is aware of what might happen, if I realized I sold all my assets when I first came into contact with bitcoin and today became a billionaire or become some forum parents who have been rich and retired from bitcoin.

[Cleanslate_]

Those who invested in bitcoin at the time when it was launched and forgot about it, there are many among these who forgot their password. That is like losing all your money just because you held very long. Those who are investing now and plan to hold forever, are they in better position or their fate will be similar ?

How can, it is due to their carelessness that they cannot access their funds and as long as your seed phrase is kept in a secured place, then they have nothing to worry about, we should be able to learn from our past mistakes, those investors as at that time never taught that Bitcoin will be a valuable asset today, they saw it as not being important.

[Lida93]

I think you should never wait for the right time to invest in Bitcoin. Every time is the right time to invest. So you can invest in Bitcoin with your eyes closed according to your fund management. It is not that just because I told you to invest with your eyes closed, you will invest with all your money. In this case, we always say that after meeting all your needs, then invest the extra money you have in Bitcoin.

The easiest technique to be able to hold long your bitcoin is to invest with extra funds that is not tied to something else to be used later. It's gonna be extremely difficult to use funds meant for some projects into buying bitcoin and expect to have a close eyes on it. Such extra funds as discretionary funds would always be the right funds for a volatile crypto asset like bitcoin in a long term investment plan, and not just any sort of funds in hand.

[Rabata]

The present is different from the past of course from the perception will be different about bitcoin, we see a lot of people who do not back up their bitcoin properly, I remember there are people who send it to the wrong address, and also store it on a flashdisk and then lose it and after a few years looking for it but not finding it, now with many guidelines in securing assets will definitely be more concerned with it, so the conclusion will be different for those who want to store in the long run, today's options are different from the options in the past.

You can't compare the knowledge available today to what was uptainable years back. In the early days of Bitcoin most people who even invested in Bitcoin didn't give it that much chance that it was going to be a big deal in the years to come, that is why when it comes to safeguarding their seed phase most of them didn't give it much attention. Today the awareness level has increased when it comes to safeguarding of seed phase which is very important when it comes to security of your bitcoin assets.

Early Bitcoin holders did not give much importance to the seed phrase because they never imagined that Bitcoin would be considered an asset. But today they have realized their mistakes well. There are many holders who are unable to access their Bitcoin wallet and if they do not save that seed phrase well, they will never be able to get it back. Those small mistakes in the past have been considered as big mistakes of their lives today. All the investors who are present today are now worried about the security of their Bitcoin before holding Bitcoin. If you plan to hold Bitcoin for the long term by saving the seed phrases properly, then there does not seem to be much risk in Bitcoin.

[Mame89]

The present is different from the past of course from the perception will be different about bitcoin, we see a lot of people who do not back up their bitcoin properly, I remember there are people who send it to the wrong address, and also store it on a flashdisk and then lose it and after a few years looking for it but not finding it, now with many guidelines in securing assets will definitely be more concerned with it, so the conclusion will be different for those who want to store in the long run, today's options are different from the options in the past.

That's right. In the early days of Bitcoin, many people may have lost access to their Bitcoins perhaps because the price was still low and they underestimated wallet security. There have been several cases, as you mentioned, of people losing access to their wallets because they never knew Bitcoin would be like it is now, with its increasingly expensive price and rapid growth.

However, these days it's much harder to lose access to your wallet if you really learn as there are many guidelines for securing your assets. So, storing Bitcoin for the long term requires learning how to secure your assets both in terms of storing them and avoiding phishing. Ultimately, the risk to your wallet is solely yours, so remain vigilant in securing your assets especially if you're storing them for a long period of time.

[Abu-Naim]

Those who invested in bitcoin at the time when it was launched and forgot about it, there are many among these who forgot their password. That is like losing all your money just because you held very long. Those who are investing now and plan to hold forever, are they in better position or their fate will be similar ?

It might be different because there is enough information on how to secure our Bitcoin in different ways using different wallets and different security measures to secure our wallets which was limited in the past, therefore, there is a high chance that this generation of holders that are holding for long will have ways of retrieving their wallets as long as they will keep their seed phrases and private keys safe.

For holding Bitcoin in centralized exchanges, that one have no thing to talk about because you as the holder have no control over the Bitcoin, and once the exchange get hacked or go bankrupt, you are automatically losing your money because you don’t have access to your funds; therefore, leaving your coin in centralized exchanges is not proper for your own safety.

[Furious 7]

OP; There's a bit of ambiguity in your idea, but it's understood that the longer you hold onto it, the greater the chance of losing the information. Well, that depends on the security measures you follow; that's relative to the user. Now, what I find curious is that you used an expression in your title that implies a simple answer: if you hold onto Bitcoin forever, you don't enjoy it. Bitcoins can last forever, but your life isn't eternal. 

We need to enjoy both the life and the Bitcoins we got while they are here.

That's the lesson for me

That's true, but on the one hand enjoying the results of investments made with bitcoin does not have to be done from the start, because we also have to set a period of time or even the benefits that we will get from the investments we make so that it does not mean in this case we will also keep bitcoin forever but we only save until the time comes for us to harvest the investments we make.

The people who are still loyal to their hold are not to keep bitcoin forever but they still don't want to leave their investment because of the temporary benefits they have at the moment because they have set their goals from the beginning and this is not now.  We definitely want to enjoy the maximum results and the benefits we have from the investments we make must also be maximized not just a few percent and immediately enjoyed. That's not how hodlers invest.

[JoyMarsha]

Forever means no definite time(infinity) of selling. I don't think there is anyone who will be willing to hodl their Bitcoin forever without longing for someday to sell off their Bitcoin. If it means selling some part of it, or all of them. The majority of Bitcoin investors think of Bitcoin as a store of value, or a hedge against inflation, they don't forget that. That's why they are having their seed phrase kept in a safe place

[Zoomic]

Those who invested in bitcoin at the time when it was launched and forgot about it, there are many among these who forgot their password. That is like losing all your money just because you held very long. Those who are investing now and plan to hold forever, are they in better position or their fate will be similar ?

Those investing now are somehow in a similar situation and are also better;

They are better because; we are more exposed and information about bitcoin storage and security has become rampant and available to everyone to explore.

Then, I said they are in similar situation because of the idea of quantum computer. If this is reality, people will end up losing their bitcoin, especially non active hodlers. This is where I have seen similar situation playing out.

[Emeraldo]

The present is different from the past of course from the perception will be different about bitcoin, we see a lot of people who do not back up their bitcoin properly, I remember there are people who send it to the wrong address, and also store it on a flashdisk and then lose it and after a few years looking for it but not finding it, now with many guidelines in securing assets will definitely be more concerned with it, so the conclusion will be different for those who want to store in the long run, today's options are different from the options in the past.

Can we actually hold Bitcoin forever? We are already close to world war 3 which is going to reverse the way we see things and all internet will be gone in a space of time. I don't think there is anyway we can hold Bitcoin forever even if I will like to do that but the future and the destruction of the world is fast approaching where countries are fighting each other for dominance.
It is not going to be easy at all for Bitcoin holders if the Internet is shotdown due to global conflict.

[Sunshine1525]

You're funny, are you saying that the longer i hold chances are that I'll lose my Bitcoin? That's never true, I'll only lose my Bitcoin based on my own error which is failure to protect my seed phrase from getting lost, drstroyed or from third party and not what you said. Holding it longer is even the best thng I could do for myself because for the records, the longer an investor holds the more Bitcoin the person would get in the future.

I think that statement would discourage uniformed people beause they believe they'll forget their seed phrase if they hold longer not knowing that there are several ways they could safeguard it for as long as possible. Some of those early birds which rumours said they lost their seed phrase after holding for long didn't know the importance or the rightful way of protecting it else they would kept it safe.

[Minor Miner]

The present is different from the past of course from the perception will be different about bitcoin, we see a lot of people who do not back up their bitcoin properly, I remember there are people who send it to the wrong address, and also store it on a flashdisk and then lose it and after a few years looking for it but not finding it, now with many guidelines in securing assets will definitely be more concerned with it, so the conclusion will be different for those who want to store in the long run, today's options are different from the options in the past.

Can we actually hold Bitcoin forever? We are already close to world war 3 which is going to reverse the way we see things and all internet will be gone in a space of time. I don't think there is anyway we can hold Bitcoin forever even if I will like to do that but the future and the destruction of the world is fast approaching where countries are fighting each other for dominance.
It is not going to be easy at all for Bitcoin holders if the Internet is shotdown due to global conflict.

There will be no WW III, and the scenario of a global internet collapse will not happen. There is no need to overcomplicate thing or worry excessively.

However, holding bitcoin forever is not advisable, as it offers no benefit to us. Let's not forget our goal when investing in bitcoin. The goal is to make money to improve one's life, not to buy bitcoin and hold onto it until death, forcing oneself to live a difficult life.

There are many more important thing in life that we need to focus on, Bitcoin is just one of them, not the only one.

[Taskford]

Forever means no definite time(infinity) of selling. I don't think there is anyone who will be willing to hodl their Bitcoin forever without longing for someday to sell off their Bitcoin. If it means selling some part of it, or all of them. The majority of Bitcoin investors think of Bitcoin as a store of value, or a hedge against inflation, they don't forget that. That's why they are having their seed phrase kept in a safe place

Then efforts is useless if they don't have any plans to sell their Bitcoin, since as what said here forever means there's no timeline so  we assume that they just buy and let those bought Bitcoin stuck on their wallet.

I don't want that to happen, because I buy Bitcoin to gain profit. So if I see that its great time to liquidated I will do it, but sure I target to hold many years or even decade before i do that since this is ideal for Bitcoin especially if we are talking about holding this coin for long time.