Quote from: android17 on January 25, 2018, 02:07:25 PM

Quote from: BitProdigy on July 20, 2015, 02:43:04 AM

Reading the responses to the recent topic titled, "I would sell all my bitcoins if." has left me concerned.

The kinds of responses on that thread reveal a deep misunderstanding of bitcoin and the current monetary system in many of those who are speculating. Let's consider the scenario in which bitcoin reaches $1000 or let's say $10,000 per bitcoin. Many have said they will cash out if bitcoin reaches this point. Why??

If bitcoin reaches $10,000 it will have to be because the fiat currencies of the world are tumbling to worthlessness via a hyperinflation type scenario and bitcoin is the safe haven, which if you know anything about the current monetary systems of the world, you know this is inevitable. (there have been 3800 fiat currencies throughout history and EVERY SINGLE LAST ONE has crashed to worthlessness; a value of zero) Why would you then sell all of your sound money (Bitcoin) for a bunch of fiat money that is inevitably becoming worthless? I don't understand the logic in doing that.

If bitcoin ever reaches $10,000 per bitcoin, you will NEVER see me selling for fiat paper money. You may however see me having a shopping spree at Overstock.com or TigerDirect.com or NewEgg.com! I will be buying things I want with my bitcoin profits DIRECTLY WITH BITCOIN, not selling my bitcoin for paper fiat. Hopefully by then there will be many more options, perhaps even Amazon.com will be accepting bitcoin for goods and I can have my shopping spree there.

Point being, selling bitcoin for dollars seems counterproductive. Why convert your paper fiat currency into sound value storing superior bitcoin, only to sell all of your superior bitcoin back for worthless antiquated fiat currency again? Why not just spend the bitcoin itself to buy what you want instead of taking a loss by converting back into dollars which will inflate away eventually anyway?

I think it was too risky. First of all we have no assurance that bitcoin will be there til future. Besides, there are still many users that tend to hold it for a long time. However, the decision will always from them. Base on what I have read here, it is better to sell some of it when its price dumps to gain bigger profit.

In the bearish trending, the best choice to help you keep safe your capital is sell to USDT or FIAT. Then, buy Bitcoin or which coins you are trading again at lower price to help you optomize the amount you are holding. Although in the USD rates can be lower than the past time, but you are having profit.