Risk of holding bitcoin forever

[Warkop]

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 ?

Investing in Bitcoin is certainly risky, not just for Bitcoin. Investments like land, houses, vehicles, gold, diamonds, or silver are all at risk. If no one knows about it, including family or trusted individuals, it's guaranteed to disappear.

A Brief Story: I remember a friend telling me about a friend who had been playing Bitcoin since 2013, but he didn't tell his relatives or family about some of his Bitcoin security keys. When he died, no one in his family knew his email address or his Blockchain wallet. To this day, no one knows anything about it, and it simply disappeared. At least, it could have been a gift from his hard work for the family he left behind, or the money could have been a savings for his parents in their old age, but unfortunately, that didn't happen.

[purple_sparkles]

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 ?

Investing in Bitcoin is certainly risky, not just for Bitcoin. Investments like land, houses, vehicles, gold, diamonds, or silver are all at risk. If no one knows about it, including family or trusted individuals, it's guaranteed to disappear.

A Brief Story: I remember a friend telling me about a friend who had been playing Bitcoin since 2013, but he didn't tell his relatives or family about some of his Bitcoin security keys. When he died, no one in his family knew his email address or his Blockchain wallet. To this day, no one knows anything about it, and it simply disappeared. At least, it could have been a gift from his hard work for the family he left behind, or the money could have been a savings for his parents in their old age, but unfortunately, that didn't happen.

There is always a risk of losing your savings, nothing can guarantee 100% protection. Gold and diamonds can be hidden so well that they may never be found, but they can also be stolen. Real estate can also be affected by all kinds of problems. Too many things can happen.That’s why it’s better to spread your savings across different assets and sources. At the same time, bitcoin is probably the easiest place to start, because you can begin investing in it with any amount, and that’s what makes it so appealing.

[Nrcewker]

Investing in Bitcoin is certainly risky, not just for Bitcoin. Investments like land, houses, vehicles, gold, diamonds, or silver are all at risk. If no one knows about it, including family or trusted individuals, it's guaranteed to disappear.

That’s why you should at least share this information with one of your loved ones—perhaps your mother or spouse. If something suddenly happens to you, they will be able to recover your investment.

As far the OP’s concern, our situation is different from that of the early Bitcoin investors. We regularly check our wallets for updates and access our coins on a daily basis. Additionally, I have informed my loved ones that I have invested some money in Bitcoin for the betterment of our future. I have also shown them how to access it.

I believe that anyone who does this can significantly reduce the risk of losing their Bitcoin permanently due to a password loss or an unexpected accident.

[Byebyebtc]

To me I don't see any point holding, if I am planning to hold forever,
The reason I hold Bitcoin is to get rewards at the time I will need it in the next few years.

Many hold for similar reasons as well, there will always be a time you want to start cashing out your profits and during the waiting and accumulation time you should keep your informations safe with you

[VivaMan]

Holding bitcoin for long -terms can comes out positively expecially when Bitcoin to gain values and good rates.

But there are risks in holding for Long term. There are also ways to scale through if you are experience which I listed below:


1.. Regulatory Risk


Governments may  implement stricter regulations on cryptocurrency trading and taxation.  Meanwhile  a global restriction is difficult, regulations can still affect demand as well as affecting prices in the nearest.

3. Technological Risk

Bitcoin is seem as highly protected.  But it's best you know that no technology is risk-free.


4. Competitive Risk

Bitcoin is the largest cryptocurrency as stand's
But is not well predicted to stay dominant for lifetime.
Note that lastest discovering technologies asset's may reduce it values.

 

5. Key control and Security Risk

Selling your custody Bitcoin can affect your private key's permanently, expecially during loss of funds.


6. Opportunity Amount
Fund's tied in Bitcoin can be used as well as an investment means for real estate business, properties, hospitality etc this can as well generate income and a certain periods of time.

[Queen uloma]

I don’t think their faith must be the same. The early bitcoin investors that lose their coins mostly suffered because they don’t know the importance of securing their password and their private keys. Bitcoin was Newly introduced and many people treated it like an experiment, they never knew how important they need to secure their private keys. So people who are investing now have good knowledge on how it works, and how important their seed phrase and private keys are. That does not mean that modern investors cannot make same mistake. If someone decide to hold bitcoin forever but does not keep proper record of their password and  recovering phrases, they will still lose everything. Long term holding isn’t the problem, the problem is poor security. So investors today are in a better position because information and security tools are available than before. But if they become careless, history can repeat itself. Bitcoin is not all about buying and holding, securing your keys are also very crucial.

[Ahli38]

To me I don't see any point holding, if I am planning to hold forever,
The reason I hold Bitcoin is to get rewards at the time I will need it in the next few years.

Many hold for similar reasons as well, there will always be a time you want to start cashing out your profits and during the waiting and accumulation time you should keep your informations safe with you

Everyone also knows that there’s no point in holding Bitcoin forever because everyone wants the benefits too from it. And everyone also wants to enjoy the profits from the Bitcoin they’ve been holding all this time whether in small or even large amounts. But I personally think that holding Bitcoin forever can also be interpreted as continuing to hold Bitcoin indefinitely with the goal of profiting from price appreciation. And what is cashed out from holding Bitcoin is only a portion of it, where the rest is left untouched so that it can continue to be profitable in the long term. So I personally think that this approach can be considered holding Bitcoin forever. On the other hand holding Bitcoin forever also applies to people who save Bitcoin for their retirement or even to pass it down to their descendants as an inheritance.

[goldkingcoiner]

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 ?

Well, forgetting your access info is far different than forgetting that you had Bitcoin in the first place (but you can still access it, should you wish). Also, what do you mean by hodling forever? None of us can live forever so I assume you mean hodling for the sake of passing it on to the next generations of your family. In which case it really depends on your values, morals and character as a person.

Personally I am not worried about making sure my great-great-great-grandchildren have immense riches. But I also do not plan on "selling". Or in other words, trading this magnificant currency for a shittier, outdated version which continually will lose value over the years (fiat).

[Mahiyammahi]

Personally I am not worried about making sure my great-great-great-grandchildren have immense riches. But I also do not plan on "selling". Or in other words, trading this magnificant currency for a shittier, outdated version which continually will lose value over the years (fiat).

Just opened this thread to see everyone's reaction on bitcoin rn, cause bitcoin just made a breakdown from $60k level. So I was thinking those who bought bitcoin in $100k level are they still willing to buy bitcoin in this extreame situation. Since bitcoin just showed us a bearing pattern. Might be a official sign of Bear Market.

So what's your opinion? Will you buy now or wait for bitcoin to stable on a price range. Rn this could be high risky zone which can give you early profit but same time you migh get bitcoin more cheaper price in later.

[headingnorth]

The bitcoin market has become mature and saturated. The days of 10x gains or even just 3 to 4x realistically are long gone.
There is not much hope of 10x'ing a trillion-dollar asset, especially one that doesn't produce anything and is difficult if not impossible to valuate.

It is possible bitcoin could 2x from its low of around $60K up to its high of around $120K again, but that could be the best you can hope for at this point.
But even that could be a very long wait. Of course, if bitcoin plummets back to $20K or $30K, it would be a lot easier for it to 2x or 3x from there.
But I doubt it could double or triple from its ATH within the next several years.

Hence, there isn't much reason for long-term investors to hold on to it anymore. At best, bitcoin is a near term speculative trade to quickly capture profits
while it is rising just before the price plummets back down again.

[goldkingcoiner]

Personally I am not worried about making sure my great-great-great-grandchildren have immense riches. But I also do not plan on "selling". Or in other words, trading this magnificant currency for a shittier, outdated version which continually will lose value over the years (fiat).

Just opened this thread to see everyone's reaction on bitcoin rn, cause bitcoin just made a breakdown from $60k level. So I was thinking those who bought bitcoin in $100k level are they still willing to buy bitcoin in this extreame situation. Since bitcoin just showed us a bearing pattern. Might be a official sign of Bear Market.

So what's your opinion? Will you buy now or wait for bitcoin to stable on a price range. Rn this could be high risky zone which can give you early profit but same time you migh get bitcoin more cheaper price in later.

My personal opinion that DCAing is the best option. Especially now during the bear market (and what I personally consider bottom or near bottom of the bear market). I am not trying to catch the falling knife and I do not recommend anyone try that either. I have tried to in the past and it has almost always been a disappointing experience, especially when compared relatively to DCA results.

But I am not offering any kind of investment or financial advice. Everyone needs to decide their own path.

[Luke3bird]

My personal opinion that DCAing is the best option. Especially now during the bear market (and what I personally consider bottom or near bottom of the bear market). I am not trying to catch the falling knife and I do not recommend anyone try that either. I have tried to in the past and it has almost always been a disappointing experience, especially when compared relatively to DCA results.

But I am not offering any kind of investment or financial advice. Everyone needs to decide their own path.

People are all emotional and even experienced investors can understand more about the market, know what are good or best to do, it does not always result in good control of their emotion and actions.

DCA strategy is good for everyone with investment plan to use because it is very helpful for reducing emotional effects and bad emotional decisions.

DCA strategy mostly is considered as a strategy for accumulation and entries while in fact it can be used similarly for taking profit.

[fuguebtc]

The bitcoin market has become mature and saturated. The days of 10x gains or even just 3 to 4x realistically are long gone.
There is not much hope of 10x'ing a trillion-dollar asset, especially one that doesn't produce anything and is difficult if not impossible to valuate.

It is possible bitcoin could 2x from its low of around $60K up to its high of around $120K again, but that could be the best you can hope for at this point.
But even that could be a very long wait. Of course, if bitcoin plummets back to $20K or $30K, it would be a lot easier for it to 2x or 3x from there.
But I doubt it could double or triple from its ATH within the next several years.

Hence, there isn't much reason for long-term investors to hold on to it anymore. At best, bitcoin is a near term speculative trade to quickly capture profits
while it is rising just before the price plummets back down again.

I have to agree with you that Bitcoin has matured, and the era of 10x gains is likely over. Therefore, any idea of ​​getting rich and becoming a millionaire from a small amount of capital just by investing in Bitcoin at this stage is rather unrealistic.

However, when compared in term of growth performance with investments such as gold or stocks, Bitcoin may still deliver better return in the future. Bitcoin remains far more attractive than many traditional asset classes


Therefore, if people are still investing in gold for the long term, there is no reason for them to reject Bitcoin, which is a better performing asset.