Risk of holding bitcoin forever

[johnnyyash]

I believe if password are not kept safely one can loose his/ her bitcoin forever.. I think probably price determination can put one in lose, and usage of it globally with news that might arise concerning bitcoin movement, all this too can determine the risk of holding it for long ....

[FortuneFollower]

I believe if password are not kept safely one can loose his/ her bitcoin forever.. I think probably price determination can put one in lose, and usage of it globally with news that might arise concerning bitcoin movement, all this too can determine the risk of holding it for long ....

You can hodl forever or put a target for yourself. What you want will be a possibility in the space, with the right amount of effort and time

[GiftedMAN]

And who said most of those stories are even true, we have anti Bitcoiners that can come up with different stories to discourage people from hodling for a long term, some of these persons that are against Bitcoin has a way of making their stories to look real for people to believe, I'm not saying that there are no true stories like that but with how some persons talk about Bitcoin, you'll understand that there are many haters out there, even though things like this has happened, there are lesson to learn from them, the more people say things of this nature, serious minds learn more on how not to avoid such mistakes, I do not fancy anything that discourages hodling for a long-term I see them as a calculated attempt to discourage hodlers.

There's no dispute in what you've said bro, but whether they're true or not my point is that nobody should be discouraged by that especially after understanding the benefits of holding Bitcoin. Also, no matter how people tried to spread the hate, Bitcoin has always thrived, knowing that the ATH is above $120k should encourage some to hold for long-term cause historically Bitcoin has always gone past every ATH it attained. Just that people with the mindset of investing for Short-term would always look for stories or conspiracy theories to justify their actions.

[Easteregg69]

Guess who found two beers in the fridge? I did! "Export". It's the good ones.

Was thinking about kiwi trading. Cheers. Kucoin acting weird. So i of-ramped some. On note.

[serjent05]

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.

I've read the history of those who invested in Bitcoin with the keys lost and the Bitcoin frozen in their wallets for eternity, but I judge that situation didn't hurt them too much, the reason is, they did it when Bitcoin was priced at $10/btc, yes of course they had 1000 btc at that time, not now.

It didn't hurt them when they bought it but it hurts them more when they realized they just missed a huge profit since they can no longer access the wallet holding their Bitcoin.

Those who are investing now and plan to hold forever, are they in better position or their fate will be similar ?

This is a different story, if at today's value, from the experience that has occurred, perhaps those investors who invested in Bitcoin first secured Bitcoin keys, because we know how Bitcoin works, it is not the same as before in 2010 perhaps, many took it lightly and trivially.

Indeed early investors who are shortsighted never think Bitcoin will reach this high, so they don't care during those times whether they will lose their access and did not secure the private key because it Bitcoin was just a couple of dollars or less back then.

[TokenTikas]

And who said most of those stories are even true, we have anti Bitcoiners that can come up with different stories to discourage people from hodling for a long term, some of these persons that are against Bitcoin has a way of making their stories to look real for people to believe, I'm not saying that there are no true stories like that but with how some persons talk about Bitcoin, you'll understand that there are many haters out there, even though things like this has happened, there are lesson to learn from them, the more people say things of this nature, serious minds learn more on how not to avoid such mistakes, I do not fancy anything that discourages hodling for a long-term I see them as a calculated attempt to discourage hodlers.

When i seeing many stories like this. Some people claim they lost access to their bitcoin wallet and could not make any profit from their bitcoin, while others say the price of bitcoin has dropped and it will never recover again. There are many stories like this going around now, when a new investor reads them, it can easily discourage them. This kind of narrative mostly affects beginners because they do not yet understand bitcoin very well. But those who know bitcoin and are familiar with its history can easily recognize that many of these stories are exaggerated, misleading or simply made up.

Just by looking at the subject of the post, it is easy to understand the direction the discussion is trying to take. One thing is clear bitcoin investor would never invest with the intention of leaving it unused forever. After making an investment, if it cannot be used or accessed at any point in the future then it is normal for people to question why anyone would choose to invest in bitcoin in the first place.

[SeriouslyGiveaway]

When i seeing many stories like this. Some people claim they lost access to their bitcoin wallet and could not make any profit from their bitcoin

They lost access to their Bitcoin wallets means they lost their bitcoin if they did not have wallet backups. When people said they lost access to wallets, I think it is very likely they lost bitcoins, without backups.

With Bitcoin, if they have bitcoins, they will be able to get profit but only if they won't sell their coins. Get access to wallets and coins don't mean profit, they can sell their coins for losses.

while others say the price of bitcoin has dropped and it will never recover again.

They might not say anything, just feel panic and do panic sell, then have loss.

The others especially market manipulators will do callings like "Bitcoin is dead" but luckily such callings become less with time when Bitcoin has been stronger a lot.

https://bitcoindeaths.com/

[Muba20]

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.

For those who do not store their passwords or phrases securely at the beginning of their investment, the duration of their Bitcoin investment does not matter. They will be harmed. Before investing in Bitcoin, the investor must give importance to store it and should also monitor well in advance whether his passwords or phrases are correct or not. If someone does not monitor these things well at the beginning of investing, then his assets are never safe. Long-term holding provides special benefits for every investor. The investor does not have to worry about market volatility and the amount of assets also increases. These issues should be given utmost importance before investing in Bitcoin.

[Makus]

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 ?

I don't really know why people would forget their seed phrase when they know how important it is, perhaps some that lost or forgot it didn't know how important it would be because they didn't put in enough time to do their research before investing in bitcoin. Holding bitcoin for a long term is what can put you in profit but holding for too long carries a lot of risks. Instead of keeping your investment running for too long, bitcoin is also volatile and the profits you made can be lost temporary until the market pumps again

[SuperBitMan]

I believe if password are not kept safely one can loose his/ her bitcoin forever.. I think probably price determination can put one in lose, and usage of it globally with news that might arise concerning bitcoin movement, all this too can determine the risk of holding it for long ....

You can hodl forever

Do you understand what it means to hold bitcoin forever, you won’t sell, you will just hold, sometimes you guys sound as if we are investing in bitcoin just because we want to have bitcoin as part of our investment and just keep it there for the record, the truth is no one is investing in bitcoin because he just want to have it. Everyone is investing in bitcoin because they want to make profit, so no one will hold forever at some point people will sell their bitcoin and make profit and that is the essence of going into bitcoin investment. Anyone who is saying he’s going to hold bitcoin forever don’t understand what he’s saying and he’s a big liar.

[henry_of_skalitz]

Guess who found two beers in the fridge? I did! "Export". It's the good ones.

Was thinking about kiwi trading. Cheers. Kucoin acting weird. So i of-ramped some. On note.

You broke a bit, dude, reload the toasts!

[FortuneFollower]

I believe if password are not kept safely one can loose his/ her bitcoin forever.. I think probably price determination can put one in lose, and usage of it globally with news that might arise concerning bitcoin movement, all this too can determine the risk of holding it for long ....

You can hodl forever

Do you understand what it means to hold bitcoin forever, you won’t sell, you will just hold, sometimes you guys sound as if we are investing in bitcoin just because we want to have bitcoin as part of our investment and just keep it there for the record, the truth is no one is investing in bitcoin because he just want to have it. Everyone is investing in bitcoin because they want to make profit, so no one will hold forever at some point people will sell their bitcoin and make profit and that is the essence of going into bitcoin investment. Anyone who is saying he’s going to hold bitcoin forever don’t understand what he’s saying and he’s a big liar.

As I said - you can hodl forever, or a target would need to be put on your BTC to reach.

[GiftedMAN]

Do you understand what it means to hold bitcoin forever, you won’t sell, you will just hold, sometimes you guys sound as if we are investing in bitcoin just because we want to have bitcoin as part of our investment and just keep it there for the record, the truth is no one is investing in bitcoin because he just want to have it. Everyone is investing in bitcoin because they want to make profit, so no one will hold forever at some point people will sell their bitcoin and make profit and that is the essence of going into bitcoin investment. Anyone who is saying he’s going to hold bitcoin forever don’t understand what he’s saying and he’s a big liar.

For the record, I think only Satoshi's estimated 1.1 million Bitcoins has remained intact since 2010 and he'll have a specific reason for that, however people who hold no matter how long would definitely sale someday cause everyone has different targets, some intend to hold for 5, 8 years, a decade and so on. No one would invest forever except the person has made up his mind to leave it for his children to inherit when he's dead.

[Mate2237]

Snip

For the record, I think only Satoshi's estimated 1.1 million Bitcoins has remained intact since 2010 and he'll have a specific reason for that, however people who hold no matter how long would definitely sale someday cause everyone has different targets, some intend to hold for 5, 8 years, a decade and so on. No one would invest forever except the person has made up his mind to leave it for his children to inherit when he's dead.

You are right I don't think that, there is actually anyone who bought Bitcoin with the plan of holding it forever. Jus as you have rightly said when it comes to holding Bitcoin the most important factor that, should be considered is target of such a person. Yes we are aware that some people may considered as long term investors, so will like to hold for long. But that will not be forever when once they gets to target they will consider selling.


Holding your bitcoin forever will actually be a tough decision to be made by anyone. Except maybe the investor is doing it for his child or grandchildren. Apart from that I don't see no reason why you should not be able to sell some of your Bitcoin holding and solve your problem when the need arises.

[JiiBs]

I believe if password are not kept safely one can loose his/ her bitcoin forever.. I think probably price determination can put one in lose, and usage of it globally with news that might arise concerning bitcoin movement, all this too can determine the risk of holding it for long ....

You can hodl forever or put a target for yourself. What you want will be a possibility in the space, with the right amount of effort and time

You can’t hodl forever, forever is not a time and would always stay undefined. Having a goal and hodling forever just can’t go together. You can hodl for a long time but, at some point, you would want to sell some of those Bitcoin. Best be for some reasons but for some, it could be just to cash in, to have that feeling from ROI. While you invest and while you hodl, always make plans on how to best utilize your Bitcoin to suit your purposes.

[Miles2006]

Those who invested in bitcoin during the early days never had an idea concerning bitcoin growth now in present time people will value bitcoin worth, for example when there’s no high hope or expectation people intend to take guide and safety for granted. I believe presently they’ve gotten much experience and will not dare to make another mistake as such including young investors who are ready to hold for long. They’re common ways to safeguard passwords basically the private key should be kept hidden so in order to do so it’s expected of an investor to write down their password on steel, etc but not on a mobile phone besides they’re many ways to save such information.

[Zaguru12]

For the record, I think only Satoshi's estimated 1.1 million Bitcoins has remained intact since 2010 and he'll have a specific reason for that, however people who hold no matter how long would definitely sale someday cause everyone has different targets, some intend to hold for 5, 8 years, a decade and so on. No one would invest forever except the person has made up his mind to leave it for his children to inherit when he's dead.

I also agreed that the only legitimate holder that I know wouldn’t be selling his coin easily will be Satoshi but even for Satoshi I wouldn’t say it’s 100% that he wouldn’t sell because we do not know is plans also, while I strongly doubt that someone like Satoshi will actually lose his wallet details I think there is still a chance of it falling into wrong hands and them selling it. So except if a coin is lost forever it’s definitely still possible that the owner irrespective of who they are might sell one day this is my believe.

The coins lost forever in my category also are those coins which were Sent and do not have UTXO spendable ability like OP_Return transactions where the output can never be use as an input which means such coins are unspendable

[kawetsriyanto]

You can’t hodl forever, forever is not a time and would always stay undefined. Having a goal and hodling forever just can’t go together. You can hodl for a long time but, at some point, you would want to sell some of those Bitcoin. Best be for some reasons but for some, it could be just to cash in, to have that feeling from ROI. While you invest and while you hodl, always make plans on how to best utilize your Bitcoin to suit your purposes.

Agree. If someone buys Bitcoin for investment, they mustn't hold it forever. Investors must set a time for taking profits. Holding a long time doesn't mean holding forever. And I'm pretty sure that most of us will never have an idea to hold forever. Unless Satoshi, he may will hold forever.

Sure, anyone must have a plan before he invests money in anything (including Bitcoin). The plan includes the time for buying (entry) and the time for selling (exit). Someday in the future, our Bitcoin probably can be converted to cash or another kind of asset. 

[Publictalk792]

Those who invested in bitcoin during the early days never had an idea concerning bitcoin growth now in present time people will value bitcoin worth, for example when there’s no high hope or expectation people intend to take guide and safety for granted. I believe presently they’ve gotten much experience and will not dare to make another mistake as such including young investors who are ready to hold for long. They’re common ways to safeguard passwords basically the private key should be kept hidden so in order to do so it’s expected of an investor to write down their password on steel, etc but not on a mobile phone besides they’re many ways to save such information.

Yes now keeping of private keys on mobile phones or on the cloud is not great as they can be stolen with AI, instead, they should be backed up with the help of expert tools such as plugin wallets and plates made of steel or titanium and fire safe quality. In my opinion, most important change is fact that single investors have now become experts about their safety by carving their passwords on metal so that in case of bad events such as fire or floods, their life savings can be saved. No matter if you use these high tech tools or newer Bitcoin ETFs, goal is to move that feeling of hoping your items are safe to way of actually showing that it is most safe real and online steps which can be used.

[Fivestar4everMVP]

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 who are investing in bitcoin now and with plans of holding the bitcoin for a very long time are sure in a much better position not to forget their wallet details because they already know what the value of bitcoin is..

I will tell you for free that those who invested in bitcoin from 2009/2010 and up when bitcoin was still almost valueless didn't lose or forget the password to the wallet where they stored their bitcoins out of carelessness, they forgot their password simply because they did not place any value on bitcoin then, they never imagined it possible that bitcoin will become what it has become today, if they did place value on bitcoin even then when it was valueless, they would store their wallet password in a way and manner they won't forget it.