Must You NEVER Sell Your Bitcoins?

[Basels]

I read someone's post that says you should never sell your bitcoins and could hardly make sense of it. The reason is that no one who understands Bitcoin sells for the heck of it. People sell because life happens. Moreover, we are not in 2010 when you could easily own 10 bitcoins and sit back (assuming you have the power to see the future) and wait for it to rise 1000x. We are in 2026 when if you're not already rich and not just 20, you could hardly hope to get rich by HODLing even if you could do that for another 15-20 years.

Let's say you're in your 30s, you should be independent enough to have bills to pay. Even if you're not spending on luxury, these bills would likely be pressing enough at certain times to prompt you to sell something valuable like Bitcoin. Sometimes, waiting out the bear cycle could be an opportunity to invest in a business that could even make you life-changing income if you're circumspect enough to take waiting opportunities. Even as a Bitcoiner, you could do this and still open another Bitcoin position down the line. More so, if you never ever sell, how do you take advantage of the realized profit? As in, it sounds crazy to me that people say never sell Bitcoin. Does it mean being a Bitcoiner implies living and dying and leaving a large stash of bitcoins at the expense of personal and familial needs? The purpose of wealth is defeated when you never use it. That's why even a maximalist like Michael Saylor could sell.

On a general note, I'd advise that you:

Buy and HODL long-term if you're in your 20s or 30s. At the prime of life, Bitcoin should make up 90% of your portfolio, but if you're in your 50s or 60s, you should start prioritizing stability and less volatile assets, say get your BTC holdings down to 50%. Not even Bitcoin is perfect enough to withstand the vicissitudes of life - regulatory actions, national policies, quantum threat and a fatal bug and more, are all possibilities that maximalists tend to overlook.

Being a Bitcoiner doesn't exclude you from living life in full. Bitcoin could rather be a vehicle that enables you to live the life you have and to accomplish this must not only be through mindless HODLing. As I said, if HODLing is your thing, do it by all means, but also see the bigger picture. On a personal note, I think "never sell your bitcoin" discourages critical thinking. Know when to HODL, know when to swap for a stablecoin (bear market), know when to invest a portion of your coins safely (not in ponzi and scams), know when to take care of your health (if all you have is BTC), know when to go for that holiday of a lifetime with your family, and especially be sure to diversify your investment.

Some people saying NEVER SELL YOUR BITCOIN actually own 100s or 1000s of bitcoins and may already be too rich to understand the daily struggles of the rest of the crowd. Plan your financial journey painstakingly.



 

[Nathrixxx]

I read someone's post that says you should never sell your bitcoins and could hardly make sense of it. The reason is that no one who understands Bitcoin sells for the heck of it. People sell because life happens. Moreover, we are not in 2010 when you could easily own 10 bitcoins and sit back (assuming you have the power to see the future) and wait for it to rise 1000x. We are in 2026 when if you're not already rich and not just 20, you could hardly hope to get rich by HODLing even if you could do that for another 15-20 years.

Even bitcoin success was not an achievement with thoughts could have come this earlier, so when you are investing, try to have the mindset of you selling because you are going to be improved with time as you invested, how do you manage is just to hold for a while until your asset matures to sell, and if you think you have some fun that is of no use for now, instead of keeping them in Fiat currency, you are the better hold such in Bitcoin, at the long run, every bitcoin investor stand the opportunity of making profit once they can hold for some time.

[tbct_mt2]

I read someone's post that says you should never sell your bitcoins and could hardly make sense of it. The reason is that no one who understands Bitcoin sells for the heck of it.

It's a click bait and trap from market makers to keep people in the market, especially in distribution phase. Market makers, and whales need a quite long time for distribute their bitcoins to retails, and they will say something like "the bull market has yet been over", "Bitcoin is not for sale", and so on but they silently sell and distribute their coins for profit.

When people realize that the market turned to bearish, it's late, and they will stuck in a bear market or have to panic sell for exit and provide cheap bitcoins to whales for accumulation and preparation for a next bull market.

People sell because life happens.

well prepared or bad prepared, people have to sell their bitcoins, just all or part of their coins, for profit withdrawal, rebalance their portfolio or cut loss.

[noorman0]

As far as I know, there is no advice to depend on investments, not bitcoin or other instruments. Investment is only part of hoping for future benefits, but you also need to live today which should be a priority. In the context of benefits, there is essentially no difference between selling today or the future. If the advice is to never sell bitcoin, that will only benefit the network, not you.

[bangjoe]

It's ironic that someone said that, I invested in bitcoin to seek freedom from my own wealth, and it's quite strange if someone says I can't sell the bitcoin that I have collected, this is contradictory in my mind.
I bought bitcoin with the results of my hard work, I keep it myself, maintain it and secure it, then later I was prohibited from selling it, wow very good logic.
Bitcoin is freedom, no one can intimidate you with the bitcoin you have, all rights are in your own hands, don't listen to too many people.
 
Hold is the key to profiting from bitcoin, but that doesn't mean you can't sell it, you can enjoy the results of bitcoin whenever you want, and that's freedom.

[MarryWithBTC]

I saw that thread, but I was not moved to read it, but after posting here, i'll have to read the thread to understand Op's perception and reasons.
I think the era of "never sell" mentra is gone. Smart investors try to time the market and exit properly rather than hodling forever.

I can only support that you should "never sell all your bitcoin". Sell when needed and still remain some portion, you don't know when you will die. Life is not 100% guaranteed. If you become a hodling addict, it's either you exit the earth without enjoying your wealth or others will lavish it when you die, or in the worse case scenario, your loved ones will not be able to access your bitcoin if you are no more.

BUY low and SELL high basic rule should not be forgotten.

[Rashlyowl]

Don't sell your BTC, the meaning of those words is not actually what you think. That's a confident statement that even in bad price conditions, BTC can still reach higher prices. I don't think it's possible for someone with monthly bills not to sell their BTC when they need to. Don't take everything you see online at face value, as it may have a different meaning.

[lionheart78]

Don't sell your BTC, the meaning of those words is not actually what you think. That's a confident statement that even in bad price conditions, BTC can still reach higher prices. I don't think it's possible for someone with monthly bills not to sell their BTC when they need to. Don't take everything you see online at face value, as it may have a different meaning.

There are people who can afford not to sell their Bitcoin because they have jobs and other sources of income.  But I don't agree to follow the advice to not sell our BTC because our gain could not be realized if we just hold our BTC and do not sell it.  The worst thing is to be stuck with unrealized gain only to find ourselves wasting the opportunity to sell at a higher price and repurchase at a lower price.  As an investor, I think selling our holdings at a profit and repurchasing more Bitcoin when the Bitcoin price is down is a smart move.  After all, there is no rule that forbids us from increasing our Bitcoin holdings through trading, a.k.a buy low, sell high, rinse and repeat.

[Zaguru12]

It's ironic that someone said that, I invested in bitcoin to seek freedom from my own wealth, and it's quite strange if someone says I can't sell the bitcoin that I have collected, this is contradictory in my mind.
I bought bitcoin with the results of my hard work, I keep it myself, maintain it and secure it, then later I was prohibited from selling it, wow very good logic.
Bitcoin is freedom, no one can intimidate you with the bitcoin you have, all rights are in your own hands, don't listen to too many people.
 
Hold is the key to profiting from bitcoin, but that doesn't mean you can't sell it, you can enjoy the results of bitcoin whenever you want, and that's freedom.

The thread OP is actually referring to didn’t say that one shouldn’t sell their bitcoin, although it wasn’t a straight forward answer but the OP of that thread say he now understands that never sell your bitcoin is different from the plan words and actually has its meaning although it didn’t put that words there.

For bitcoin is a money and it needed to be traded because without trading bitcoin (buying and selling) there will be very limited or no activity happening on the network that’s not what the bitcoin network is made for. So there is nothing like one shouldn’t be selling their bitcoin because without selling what you only have is unrealized profits

[Agbamoni]

The purpose of investing is to make a profit. No one will deny that fact. So yeah, the idea that you never sell is wrong, because what is the essence of investing if you never use the profit someday?

What the person is actually referring to might be never sell when the goal has not been achieved. Investors have mini goals and major goals. Sometimes part of the goal is not to sell till a certain period.

[BIT-BENDER]

As far as I know, there is no advice to depend on investments, not bitcoin or other instruments. Investment is only part of hoping for future benefits, but you also need to live today which should be a priority. In the context of benefits, there is essentially no difference between selling today or the future. If the advice is to never sell bitcoin, that will only benefit the network, not you.

Investing in not only part of hoping, you can not make bad investment choices and then go hoping it yields you any return, for me investment involves far more than just hoping because you need to do your own research, make your own calculated decisions and trust you well thought out decisions.
Someone investing poor will most likely do that because they believe investment is just based on hope .

[Donneski]

"Never sell your Bitcoin" is a kinda phrase that portrays mindset of a certain people in the market. It's not a rule but it's very common among long-term holders. The main idea behind it is to make people avoid selling their Bitcoin out of fear or the short-term movements of the market.
However, that shouldn't stop you from selling parts of your holdings when you deem it necessary if you're primarily holding Bitcoin to sort immediate life bills. Your primary purpose if building wealth is to enjoy and benefit from it, if holding for long contradicts that, then you should sell and not let other people's strategy to control how you manage your assets.

[Stepstowealth]

Some people saying NEVER SELL YOUR BITCOIN actually own 100s or 1000s of bitcoins and may already be too rich to understand the daily struggles of the rest of the crowd. Plan your financial journey painstakingly.

I believe that there are some conditions that happen to you that is enough for you to sell your bitcoins, one of such conditions is when you find yourself in a life threatening situation where you have the money to safe yourself, I believe you should not hesitate or even try depending on others who may not come through for you because life comes first before wealth and if you say you want to keep your investment and try to sort the money from others and then it so happens that you die in the situation your investment will be lost or given to another person who will not value it.

[Botnake]

If you are still in the early stage of investment, and you are still in the phase of accumulation, of course you must never sell but stick to DCAing and HODLing. But prior to that, you should set your target when to start selling your bitcoin, at least there should be a goal in order for you to be highly motivated to achieve that certain goal.

Otherwise, if bitcoin is all about buying and HODLing, then it no longer holds its essence as a profitable investment. One should take time to sell to experience how profitable it is to have investment like bitcoin.

[uneng]

Stop following internet's gurus or trying to enter a bubble of idiots where you have to behave like they do in order to be accepted by the inner circle of participants. Bitcoin proportionated freedom and autonomy to adopters, so enjoy it as you wish for your own needs.

If you want and have to sell your coins, do this. Nobody else knows your financial situation better than you. Forget Bitcoin maximalism bullshit and such philosophies which are only useful for a few individuals who don't have notion about reality to exercise dominance over other people's minds and lives.

Bitcoin has to be useful for you someway. And you are responsible for finding out how it could better supply your needs.

[Japinat]

It's wrong to say must you never sell your bitcoin because we have no control over the people buying bitcoin. If they continue buying and hodling, well that's a good strategy, but if they chose to instantly sell their bitcoin due to uncontrolled condition or situation, that's already their choice and we can't stop them from doing so.

But if you are here fully committed to invest in bitcoin and hold it for long term, then you should never sell your bitcoin if your goal target has not been achieved or realized. Selling is not prohibited, but if possible, it should be done when you sell for profits, not to sell and suffer from losses because you end up in panic selling.

[Odogwu-Blockchain]

As far as I know, there is no advice to depend on investments, not bitcoin or other instruments. Investment is only part of hoping for future benefits, but you also need to live today which should be a priority. In the context of benefits, there is essentially no difference between selling today or the future. If the advice is to never sell bitcoin, that will only benefit the network, not you.

If you have other means of income that comes in fiat along with storing bitcoin for future purposes, then its better to never sell your bitcoin especially when you are leaving below your means and understanding oneself in your daily spending habit. And other hand, when Satoshi said, not selling bitcoin or forgetting bitcoin in a missing seed phrase increases the stability of the network and ensuring strong demand.

[blockman]

Some people saying NEVER SELL YOUR BITCOIN actually own 100s or 1000s of bitcoins and may already be too rich to understand the daily struggles of the rest of the crowd. Plan your financial journey painstakingly.

Nope, I'm just shrimp who doesn't hold a lot and I'll tell my peers to never sell their bitcoin. But if someone does take that seriously, they won't sell. There's a couple of meaning when people say that and that's to be firm and strong in holding it no matter what the market is showing. Although on the standpoint of being shrimp, I understand your point that we should know our status and situation and we have to depend our decision on our situation. For the younger ones, they've got all the time to take the risk and they're in a great era where this decision of theirs could change their lifetime.

[Finestream]

To gain maximum profits, you must never sell your bitcoin. Instead, focus on DCAing and growing your bitcoin portfolio.

However, the idea of must you never sell your bitcoin for long, I guess that's already an exaggeration. Even those who have started accumulating bitcoin 10 years ago are already selling a portion of it, not because they needed the funds, but because they also want to taste the fruit of their investment. And for me that's reasonable enough, one should take time to sell when the market is highly bullish while you continue buying in dips, or through DCA.

[Maslate]

There are actually few people who can managed to never sell their bitcoin. Maybe because they are earning a decent income from their job, or maybe because they are stable financially and have no reason to sell their bitcoin so they just prefer buying and hold it for let's say 15-20 years or more if they are still alive by that time.

However, this does not apply to everyone who entered bitcoin investment. We all have our own time and own reason why we are selling our bitcoin, and that's something we don't owe an explanation to other people.