Bitcoin Forum

Anyone who has ever heard of Bitcoin may have heard of HODL as well. Because HODL is a very famous strategy to speculate on long-term price gains of Bitcoin, whereby "long term" is not defined in detail, how long it really is.


HODL dates back to a Bitcointalk post from 2013 (https://bitcointalk.org/index.php?topic=375643.0), where it was advised not to sell one's own Bitcoins despite losses, but to wait patiently until it rises again.

However, it is indeed essential to wait, because most common errors from HODL are:

- Sold all BTC too early to realize (small) profits
- Sold all BTC too early to minimize losses in case of decreasing prices


Additional mistakes can be dangerous coin storage practices, for example on a file-sharing platform, which is increasing risks of getting hacked. But in my post and for advanced Bitcoin HODLers it is assumed our coins are stored properly, which HODL also invites us to do, because HODL only required to transfer our coins on very rare occasions (if at all), which minimizes transferring or storage errors.

As a conclusion we should keep in mind: most common mistakes of HODL are quick sales of our valuable BTC. So, we have to be aware and know that HODL is purely a mental challenge.

A good HODLer can resist any temptation to make (small) profits prematurely and a good HODLer keeps his Bitcoin.
A good HODLer stays cool even in case of losses. Best we can do is to move our valuable Bitcoin somewhere where it has a high resistance of being sold.
And we shouldn't store it on file-sharing networks anyways and also not on centralized exchanges because we don't have our private key on such platforms (not your key, not your coins).

After all, it's a very important lesson to know that HODL is purely a mental challenge. If you want to HODL correctly, you should know and pay attention to all points mentioned above.  :)

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Translations:

Language	translated by	Title
___________________________	_____________________	_______________________________________________________________________
Nigeria (Naija)	Chilwell	HODL na purely a mental challenge (https://bitcointalk.org/index.php?topic=5480344.0)
Pakistan (Urdu)	Publictalk792	هوڈل واقع ہی ایک ذہنی چیلنج ہے  (https://bitcointalk.org/index.php?topic=232519.msg63117852#msg63117852)

Reserving new translations is currently not available.

*2013
It's a shame the author isn't around anymore. Would love to hear his story.


This has a lot in common with religion, cults, and similar things.
Even though I'm a hodler myself, every time I read something like this makes me think of how crazy this sounds to an average person, especially people who trade stocks or currencies.

You are right, somehow I've missed it, that it's been that early.  :D
I've edited my post.  :)

Yes, despite logging it and even writing posts a few times, GameKyuubi isn’t actively participating in a discussion here. Maybe he doesn’t want to cause any attention because he’s somewhat famous already.  :D

I wouldn’t call it "cult", just a nice and promising strategy suited for Bitcoin.
Because compared to stocks or (fiat) currencies, Bitcoin is quite different. I would compare Bitcoin and gold to each other.
And for gold, it's also common that people are collecting coins or bars, while hoping for price increases or by simply collecting them.

HODL is all about mental, I totally agree.

The temptation to HODL bitcoin when the price is falling is whether we will continue to hold it and wait for the price to rise again? How long? or do we cut lose?

The temptation to HODL Bitcoin when the price goes up, do we keep holding it until the price is even higher? or will it go down again? we are confused about what price to sell, too early we will regret it, too long the price can drop again

So HODLing bitcoin is about mental strength, long-term goals and good financial condition. Without it, I doubt I would be able to HODL

A good HODLer believes even if the price of bitcoin drops their is no permanent loss in his investment because the price of bitcoin will come up even if it goes down.  A true HODLer does not get intimidated by volatility of the market no matter how the price falls their will still be increase by the time he waits for the market volatility to increase again.  Real hodler are not scared of losses, they do not panic of volatility, so patiently waiting for the bull market,  they always succeed because they throughly understand bitcoin market.

In my humble opinion, as a self-proclaimed Bitcoiner, HODL means "no return back". When you HODL, you expect that the rest of the populace will follow on a Bitcoin standard, sooner or later. HODLing isn't to merely keep a bitcoin for a couple of years, just to sell it back for fiat (which is considered long-term for many).

I don't want to be called a toxic maxi, but it's just the way it is. If you don't think the people will treat Bitcoin seriously, then you don't either.

If you are a Hodler, have you determined the price for yourself when you will sell your Bitcoins, or does hodl not involve selling coins at all? And from my experience, I can add that Bitcoins are most often lost when you try to increase their number with the help of trading.

It takes a lot of courage to hodl in the face of Bitcoin price going up and down and I won't blame those who cave in when things get hard because as the Op clearly stated, there's just so much the mind can take, but I feel it's more blessed and rewarding to hodl than to sell ;D. The expectations most bitcoiners have of the event of the Bitcoin halving is to me enough reason to continue hodling.

The prices of Bitcoin and other cryptocurrencies are very volatile but the best approach to raking in more profits is when you don't panic and sell just because you feel the market is crashing. To me panic sell defeats the purpose of hodling.

You are right, but HODLers are also very careful with their recovery seeds cause if we don't use it more often then chances of losing it also high so it is important to keep the recovery seeds in physical form and somewhere secure.
 
We didn't lose anything until we sold the assets which may be really hard to understand for someone who is new to the investment but once they get used to it I mean at least a cycle then they will realize what they can potentially make at the bear run if they are prepared to accumulate more coins at the highest possible discounted price.


Anything related to money is just a game of our emotions so one who knows how to control it when the market goes other ways will succeed more than those who will react to everything and fall for the traps of whale's traps.

It is a strong mental challenge where a holder who is not mentally strong will fail to keep holding because there always will be temptations or fears that can make a holder stop holding. Investors in bitcoins with poor mental strength will have to work hard to improve their mental strength if they have the plan to hold their bitcoins for long. But what I need to ask is, how long should I keep holding to show my mental strength? It should be until I get to my target right? or do we just keep holding and holding? because of not wanting to sell early to make better profit. Bitcoin value will keep increasing, so when is the right time?

I think the temptation to HODL when price is rising is far higher than when price is falling. I don't know if others experience that as well but personally, seeing my portfolio in profits of multiple of my investment could be so tempting to sell and take profits. It takes a great deal of courage and faith to hodl and not sell at this point.
On the other hand when is falling, people rarely sell except some panic sellers or big playings that will dump the price so they buy cheaper. There is even this popular saying that  "you only loose when you sell"

Indeed a great deal of mental preparedness is needed to HODL Bitcoin in both bull and bear market but in all, the level of faith and believe in Bitcoin is what will guide our decision. 

Honestly hodling was so much easy for the first generation investors as it was easy to buy  a whole Bitcoin for say $10, $50 or $200 or perhaps anything less than $1000 without having a mental challenge to forget about these coins for a while...

But with prices playing around 27,000 dollar's today, tbh you can't just buy such an asset and choose to forget about it because this will always be in your back of your head reminding you to always check and see if you can take any small profits and walk away ...otherwise to hodl=big boy/whale's games atm(mental challenge), better yet holding is for the financially disciplined ::)

mental strength comes easy when you are also financially stable not having to think about your stash..or coins you hodling.

Investing in itself is a mental challenge. Like, even the best stock/asset picker can perform really badly when he/she's not mentally ready for actual 'investing' a.k.a. long-term holding. Like, even me myself — I'd be far better off financial today if I just held everything and never sold since the first time I held BTC.

Most of us made some mistakes with bitcoin. Over the years I've learned that we grow into hodling. It's very rare for someone to be a hodler from the start as most people come here get either hit by early euphoria or fear, depending on what part of the cycle they face right after buying their first bitcoin.

In my case we were in a post GOX bear market with bitcoin at -70% from its ATH, so obviously I thought bitcoin was cheap ($400) and it was a great idea to buy some. Next thing, it was down 40% and I was literally sick. Yea, I couldn't sleep, was waking up early in the morning every day to see the charts and seeing the price was making me depressed. I didn't sell. I felt so bad that I told myself - go ahead kill me now. If my investment's destiny is to keep going to 0, so be it. A year later it was at $500 and I was up on my money, which is when I became more relaxed about all of it, but it did not stop me from taking profit all the way up to 20k, which I now regret, but it was different times.

Good luck with HODLing!

It's not only a mental challenge but also a fight with yourself. It takes so much patience to HOLD. I have seen many give up in the middle or sell BTC for small profits, sometimes to avoid loosing all fund. I knew a person who had a lot of assets in different crypto currency, mostly BTC. He was doing well, everything seemed fine. Then suddenly, one day the whole market crashed. (I don't remember the year). He also lost 70% of his whole funds. You know how BTC works! When BTC goes down it takes others with it. As a result, all the other cryoto he had or holding or investing also went from green to red. It was the worst year for him. Later he cashed out the remaining 30% of his fund, in fear of loosing everything. For me, I think we shouldn't just focus in one place when finance is involved. Rather our investments should be wide spreaded like in real state, property, stocks, crypto etc. That way the risk of loosing everything at a same time decreases rapidly. Of course, you have to knowledgable in these sectors or you won't able to survive.

When it comes to BTC, it's not like any other shitcoins which comes for some months and then disappeares. But still I would consider plan B, plan C... That way I won't have to rely on only one person.

Hmm, do agree with it that it's a one-way, believe it or not. 80% of the Bitcoiners who really consider themselves as Bitcoin Hodlers are just money seekers who are waiting for a good exit, whenever the circumstances suit them they will, all the way to that exit point they will show others that they hate fiat, they want to get rid of this system they want freedom and blah blah they don't care because they want to approach some of their luxuries with a shortcut ride on the BTC.

I also consider myself in this same category but I do agree that I'm with the constant vision I can be a good Hodler, I do realize that my experiences will push me to be a good Hodler. Trying to get over my emotions (Short tempered Greed).

I believe almost every aspect of the Bitcoin investment is purely a mental challenge and the last time I checked 95% of all BTC investors and holders barely have enough sleep ever since they joined the market.
One of the ways to resist selling early for a small profit or in the case of emergency financial need as a good HODLER is to lock the BTC way for some years.

Have difference spell or meaning between HOLD or HODL? which one both words are trues, I don't think about mentality challenge when holding inside bitcoin or another coins assets depend with how urgent for taking profit and less get risk if later price drop drastically. I don't agree with holding is about mentality challenge because taking profit early how to make maximize for losing in the future, can't make stable on higher price always and moment for dump is waiting for us and take profit early than prefer for holding is not true all mental challenge. More technical and manage less risk when taking profit early although in the next time have possibility with price will up or down.

Not bad ideas with holding and good luck for all holder.

Not sure though if you are aware of the origin of that word? If not then here is it, I AM HODLING (https://bitcointalk.org/index.php?topic=375643.0)


True, and I will say that the pandemic really thought me a lesson about holding. I mean you are just alone and can't get out, so that's already a mental challenge. But then again, you have a lot of time to think about your bitcoin investment and so with the pandemic, I was able to hold for so months or even years and accumulate decent to good amount of BTC. So it's very hard if you look at it on paper, but I can attest that anyone can do it and HODL for a long time.

It's a difficult question but I wouldn't say HODL involves selling coins necessarily. Some people buy Bitcoins for HODL and don't sell, some people sell after some time. I believe, HODL doesn't has any fixed amount of time. But maybe at least 4 years for each halving cycle? It's up to every HODLer.
HODLer's just sell (or don't sell) after an undefined amount of time.

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You can HODL as long as you want to HODL. And about a certain target: it depends on every HODLer.
Personally, I don't have any target for HODL, just a veeery long time.
But to consider it "HODL" I would say, a HODLer needs to hold at least 4 years, which is 1 halving cycle.  :)

It's up to every HODLer.  :)

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HODL is based on a Bitcointalk post, where OP misspelled HOLD: https://bitcointalk.org/index.php?topic=375643.0

Question is, will the mental challeges equal the risk of not taking the tough rout of getting the basic knowledge that will sustain you along the line as you accumulate more bitcoin and keep Hodling and reducing the risk of losing control of your funds.


While we prepar for long term hodling we might ought to make provisions and preparation for how best to secure the Bitcoin we intend to hold for so long and having a securely protected personal wallet is the best thing to do in that regard.

Let's be realistic and keep grammers aside it's ain't easy to hold for a very long period of years, except there's any HODLer here that will say he he is with no any financial challenges for over the years like in the past 5-10years and hasn't tampered a bit with his HODLing. The mental strength in HODLing is not in a HODLer not taking a profit from his long time HODLing buy him not completely selling it all out of fear or due to a little too up profit made. I would rather be that HODLer that can be taking a little profit from my HODLing to meet my financial challenge while I still DCA when am able to.

I was an idiot before when I had my old wallet's private key on my email, yeah that was literally an idiotic move but thanks to the people here like miau who have been reminding everyone that it's not a good practice. Also about holding, it is true that this is a mental challenge you're already seeing the profit if you're going to sell now but then what's next upon selling? Are you going to buy and take those sold Bitcoins of yours or do you have no plan at all because you're just happy holding that cash then? This is the mental challenge that it's gonna make you happy and satisfied upon seeing that stack of cash upon selling but these days, cash is too quick to be gone because of how things have gone up in prices.
I have managed to survive this market and then stayed for a while when I don't feel that it's good for me to look at it once in a while. We need some distractions to get out of the market temporarily based on our attitude towards it. When we're feeling that we should sell because of how bad the market is, you're just being forced to do that and it ain't good at all when you've got a longer term plan which is the better idea that surely will work for me and to everyone else.

Of course, it entails a lot of preparation for being a long term holder. So in order to secure it better, have a hard ware wallet and keep everything there. You just need to backup everything.


Good for you if you were able to get everything started during the pandemic and the positive effect it did bring to you. For my case, I started much earlier to test myself on how to be a holder. And I can also says that it's a mental game as you have to take a grind week by week, month after month just to be able to stay with your goal of saying and accumulating for the long term and it's going to be worthy in the end or at least if you were able to get at "almost" the top price in a bull run.

Yeah I think many of us are actually class in that category of holders that do such. I even praise those that were able to achieve such high level of holding,  I mean it's definitely not easy not to temper with your coins because challenges always come although it's advice that a holder needs to have a sufficient means of living so that the thought of tempering with his coins will be at a minimal but even at that I can still say this holding game is still not an easy one

Every bitcoiner knows the meaning of HODL but the major problem we face when HODLing is knowing how long to Hodl. Bitcoin volatility makes it difficult for us to know whether it’s early to sell or not. I have not been too long into bitcoin and Hodling but I do wonder when the right time to sell is but i feel it based on individual perceptions of how much temptation they can resist (when price is moving up). When price going down panic sell never an option HODL is the only way.

HODLing is truly a mental challenge and it takes a strong and determined mind to withstand the temptation it carries. This post will help prepare us properly of what is ahead because HODLing for as long as God knows when is not easy.

Bitcoin is revolutionary, and if we understand that feature of Bitcoin, then we would know why we shouldn't sell because of temptation. Selling may offer you instant profit, but hodling will provide you with long term profit.


it depends on their emotional and self control, looking at chart patterns are important too, but without solid discipline most persons will panic sell when in loss.

Yes, this is one of the best precautionary measure to practice as Bitcoin hodler. And as well ensure we are buying it from a legitimate exchange. I've heard many stories of people buying BTC and it ends up being from some untrusted broker which is really just one of those scammers trap that will never let you withdraw the funds.

If it's not too complicated I also suggest after we purchases the BTC we should withdraw it to a private wallet off the exchange to ensure maximum safety in the event the CEX goes insolvent, or trading is halted due to violation of various laws as per the local law enforcement. Its best we withdraw it, perhaps any one is afraid of withdrawing then they should learn it.

I agree with 1miau's post, and yours too.

The hardest part, and the biggest challenge for me, was not NEEDING to cash out. I'm extremely patient, but to be able to afford to be patient, you need to build up a very stable financial and personal situation.

It took me a while at first to realise that I needed to improve my personal situation to be able to hold out for very long. Patience has a considerable cost: personal stability, which is neither acquired nor free for everyone.

For me, HOLDing is the art of investing as much in yourself as in BTC.

From the word HODL, it means long-term hold. So if someone panics when seeing the price drop significantly and decides to sell his Bitcoin, that isn't its characteristic. The same goes for investors who sell when they see some profit, as they are afraid the price will drop.

I think the most important factor to consider when HODLing or holding for the long term is to be specific with your target.

It's undeniable that no one would hold forever. While we are still alive, we like to enjoy the profit from holding. So without a target, it might affect our decision-making in the long run, as you know, emotions could affect our game plan or investment strategy.

It takes the strong to keep HODL even in daunting times where the market is threatening with a falling profit. Imagine seeing the profit you've made over a few years HODL going all the way down due to some uncommon market news while you watch. It takes only those with a strong mental psychology to not only pay attention to all the points OP stated but to also keep to it in such conditions.

That's why it's good to have a good understanding and knowledge about past and current events in the market they could always be a reference point to help keep our resolve strong not to be forced to sell but to keep HODL extensively cause the market will absolutely rise again no matter how long it took the fall.

Investors now have very little patience to hold. This is indeed a very popular strategy to speculate on the long-term value gains of Bitcoin. However, many cannot define "long-term" in detail, how long it actually has to be.  I think holding that is a huge challenge in itself.  Because many fail to hold long term and most of the time they become unstable.  It is not easy for all investors to hold for a long period of time. It may be possible for those with more capital.

It's a mental challenge indeed, but I think it's more than that. HODL need a deep understanding on the market, not just believe in product, after all investment is not a religion, it's supply and demand, it's a free market. Understanding when to enter the market, and understanding what is going on with the market will put a HODLer mind at peace.

And on the contrary entering the market and buying any investment recklessly, without understanding, will make HODL very hard even for a mentally strong person.

There are many long-term investors who know very well how the crypto market actually works and what to do to stay in this market. Those who are short-term investors who tend to make various wrong decisions to make quick profits, because they have limited knowledge, do not try to learn about Bitcoin. Before investing in any sector, it is the most positive thing for an investor to try to know about that sector well. And this is why a crypto investor should also try his best to know about the crypto market so that at least he knows about the crypto market before investing.

In fact, those who come to invest in short-term bitcoin, have little idea about bitcoin, they come to invest after hearing the name of bitcoin from different places. As a result, inexperience makes them suffer in many ways.

Of course, it's another big advantage of HODL vs. Trade. Traders need to have their coins on an exchange to be able to make trades and that's always a huge risk. While in opposite, HODLers can just send their coins to an offline wallets, where it's very safe (cold storage) compared to an exchange (hot storage). HODL is beneficial from many perspectives.  :)

But HODL is also a good strategy, when we don't know when to enter a market. For example, in 2022, at 50k USD, it was impossible to say if Bitcoin will increase to 100k or if it would be going down to 25k USD next (it's never possible to make a safe prediction). In such situations, HODL might be our best bet because HODL is a long-term strategy.

If you are buying an asset for the long term, then everything is important, starting with a thorough study of what you will invest in, and an understanding of the market, its cycles, and everything that concerns it.

In addition, the holder must be prepared for the fact that the market may change, cycles may increase significantly when the asset rises in price. I think the more expensive Bitcoin becomes, the more difficult it will be for it to rise in price, in addition, now many people believe in the cyclical nature of Bitcoin and will wait for the cycle to repeat in the coming years, but what if the cycle does not repeat itself, but instead the next bull market increases significantly will begin not in a year, but in 5 years, how many holders will remain who will wait all this time and wait for Bitcoin to reach a new ATH?

Being a holder is a talent where you could literally say thay you are a brave person. Some people might fall into such panic when everything tremble in fear but honestly how could you resist those heartbreaking paper loss? Its quite hard right, since its literally something you could not just handle easily. OP is right on the part that to avoid those panic selling is to put up your bitcoin to some wallet that arent prone to direct liquidity like an exchange or wallet app where it can be converted right away since its a temptation we are prone to make.

I disagree with you on this, not using your recovery seed often is even the best, and that doesn't mean that you won't always or once in a while check where your recovery seed is to see that it is still safe from third party since you know that you are hodling for long and your recovery seed is your funds. When you are only hodling it less the risk from Hackers as said by the OP. The way you do keep your recovery seed of the wallet that you are using to sell your coins and make profit is the same way you would keep your recovery seed if you were a hodler.

Hodling is the most difficult thing when you are not prepared mentally and financially for it. If you have a target amount of bitcoin that you want to accumulate, this can also help you hodli because you will be busy piling up your coins until it gets to that level. Even when it has gotten to that target amount, you might still choose to increase your bitcoin investment portfolio, and this can make you continue hodling and jeep on accumulating to your new target. The challenge that some hodlers are facing is that they bought bitcoin too aggressively and when they are short of fiat, they sell and lose focus of the original idea which is to hodli.

From this, you're saying a true HODLer is devoid of emotions and that's not entirely true.
You can get scared of losing your Bitcoin when the price dips. You can get worried but the ability to control those emotions and hold on is what determines a true HODLer. I don't believe there's anybody that doesn't give a shit about the price.
We all do but we control our emotions, that's why it's a mental challenge.

To be a good HODLer you need to have a lot of trust in Bitcoin. Market analysis is good, but if you don't trust the coin it will be so hard to see a coin drop down from $60k to $19k and not panic. I said trust because even if it's a certainty that it will go back up, you don't know when you can only speculate.
It takes a lot to HODL Bitcoin and it's truly a mental challenge.

I think it is not only a mental challenge but also it is an emotional challenge.  Many have the mind set of hodling but most of them give up on emotional challenges due to fear of lossing when Bitcoin plummets to a certain degree.  Also, we know that in an investment and trading, not only mental capability is important but also the emotional capability plays a significant role in how a trader maintant their composure in Hodling.

Many investors gave in to fear and became weak hand, selling their stash the moment the price of Bitcoin take a dip.  FUD will never be called FUD if it does not affect the emotion of a trader.

Holding of bitcoin for long time is base on someone who had budgeted for that for period of time. I know quite that allowing your bitcoin to stay long for investment is good but anyone who doesn't not another source of survival is not supposed to keep its bitcoin for long times, sometimes some people sell off their bitcoin because of challenges and their is no way of replacement funds whenever they lack funds,so that is while I always emphasising on people who invest and make profit, it depends on individuals target.

This decision will really depends on the person who decide to do this conditions and usually at the moment people only speculate the halving so most provably Hodlers always prefer the 4 year cycle since the halving event is the only thing they are waiting for. Maybe there are some few people Hodl for long time but there are only few of them and mostly they are the institutions which want to create something big for bitcoin. If someone think they are holder because they hold their bitcoin for one year I think that's fine to call theirself that way as long as they enjoy doing that and just wanna try to see if what happen on their balance on the span of a year. Maybe next to that they could able to hold for more years and can convince other people decide to hold their coins to.

I agree with you when you say hodling is a mental challenge as you can find yourself in a dilemma of selling or hodling. Personally I invested in some earning products https://www.bitget.com/earn  and only take out my interests without tempering with my initial capital this way I am able to earn without having to sell off my BTC. It's either that, or I have to develop a tough skin against selling off especially when you see prices dipping.

We all gotta sell at one point on the journey, if you are a good thinker you should know that bull market is the best time to dump all your Bitcoin, this doesn't makes you a betrayer but a smart investor, you just have to wait till the next flush out in bear market and reposition yourself, you will have more money to invest in more Bitcoin by then.

I believe that taking profits is all in the chart, here is my own plan, the last all time high of Bitcoin is always beaten in the next bull market, so my taking profit range is right after Bitcoin grows over $69,000, so I am targeting the 80k range as the max for the next bull market.

It's possible that Bitcoin can do more than 80k but I am not greedy, if bought at 17k and will sell at 80k, this seems fair enough for me, the idea of wanting more have burnt me in the past and I don't won't such to ever happen to me again, it's smart to have a taking profit strategy on the ground.

Hodling is like hoping for the best but expecting the worst, and it's much easier to hodl when we keep in mind that challenges will surface and therefore we have to be flexible with our hodling as too much rigidity can make us to be dieing in the midst of plenty when we can just take a little profit to meet our needs and make life easy for us while we keep HODL to stack more in future. There are challenges that can need beyond our means of income to solve them so tampering out hodling isn't a bad idea in such situations.

Hodling can be viewed as It's like savings they are meant for emergency that are beyond our everyday expenses or income to solve, so what's important is being able to continue to o accumulate after taking a little from it to clear out challenges.

I saw HODL for the first time here and was thinking it was a typo error until I started seeing it everywhere and ever since I joined this forum
It is interesting to learn what it meant as it is no different from the normal spelling of hold but this 'Hodl' stands to represent saving for a long time or let me say some years before withdrawing the investment.
How to make it till the final year of HODLing is tougher than being said, because in the real world, saving up for the future comes with lots of challenges and bills and denial of gratification, which might be discouraging to maintain in the long run

Regardless of the spellings, HOLD and HODL do mean the same thing, that is not to sell in panic and keep on holding Bitcoin for the long term.

I understand that everyone's life is full of challenges and there are times we need to sell our crypto holdings, in order to meet urgent need, but this is expectation and can be avoided if we invest only the extra money in crypto. However, real holding refers to a situation in which you sell out of panic, you see that the market is dumped and the fear of losing your portfolio makes you dump and sell your coins.

Remember one thing, we only lose when we sell, as long as you are HODLing then there is every chance that prices will recover and you will be in profits.

Obviously, each hodler has already determined the price at which they will sell their Bitcoins and this price may not be related to the 4-year cycle. This may explain this behavior of hodlers, when coins on many wallets remain motionless for 10 years. Perhaps they want to sell Bitcoins when the price reaches a million, or have they simply lost access to their coins?

Hodl bitcoin is too difficult to think of,  the bitcoin previously was at a better position of about 60k$,  but with time to time,  it was going down and now it is 28k$. So,  I was telling that if someone was holding it at a price of 40k$-45k$,  he should have to wait now. And his waiting is from the previous 8-9 months. If he sells now,  he would be in complete loss which is not good for the trader at all.


So,  I think trading need Hodl,  and Bitcoin Hodler should need to be emotionally stable if he wants some decent profit,  selling in the area where one are in loss doesn't make any sense. And also the bitcoin Hodler,  should be the best Hodler if they Hodl it for a long term,  instead of being in pain and sad and sell them in loss.

I'm not sure at all here, that each hodler has already determined the price when they will sell.
I'm not even sure if that's more than a tiny percentage, who start to HODL and have a determined price, where they are going to sell.
And yes, "Moon" or "Lambo" is not a determined price.  ;)

Also for me, I have not determined a price, where I'm going to sell my valuable Bitcoin.  :D
Of course, also some have lost access, probably.  :D

If hodlers don't wait for the 4 year cycle then he can never be a long term hodler. A hodler always maintains positive thoughts and he relies on them for a certain period of time. A hodl is simply a waiting period when a person hodls their money for a long period of time until the bitcoin halving, basically we call them a hodler. Timing is of the essence for every holder as the longer he can hodl the greater the risk of profit. And holders who hold for a long time must pass their time in psychological challenges. I think investing and holding whenever a person does it for a long period of time has to go through a lot of epidemics. So it is not so easy to hodl, it must be for a long period of time, which is not possible for everyone and those who wait for a long time are the real Hodlers.

Holdling is totally depends on your mindset or planning, it could only you if constantly watching the price movement which could lure to start panic and sell off your investment but like I said it depends on mindset because for me I plan on buying and holdling for long time and never allow anything to distract me.

This is where I thumb up for Satoshi Nakamoto. Whoever they're or whatever entity that's. I give it up to him/them, staying unshaken despite all through the various ATHs; even the one in 2021 and the wallets alleged to be his/theirs still didn't move. It takes a special kind of mind control not to trade that wallet, honestly.

The dude was active till June 2022. It's not as if he left that year he made that "whiskey" enhanced post which turned out legendary 😏

There's fear when you're spending to buy crypto. Investing your savings isn't an easy step so it's a real mental challenge that's when the journey starts. We don't know the future so we can't plan each decision's going to be the best. Every bitcoin's selling for $27k so HODL would've been superb for early investors because they'd be best off in financial terms.

People have mind or maybe they have much more than they really invest in bitcoin, I'm really puzzle how they developed that kind of mind because thinking bitcoin will reach 1 million before selling is going to be a forever waiting, like it might not happen and even if does, the moment people detect the bitcoin held for many years start moving, the market will react to it and it will be so quick to crash again. Where does that now lead?

We don't know why many of the wallets which haven't been motionless are in that condition. Losing access to coins isn't hard to believe because we know incidents like these occur. If they're under pressure they'll make mistakes so some hold on for longer than expected or sell early because they can't handle it.

Yes that is actually correct. Having a good mental and emotionally stable health is a must needed in this kind of market. If you are old or trading long time in crypto your patience is already been stretch and you are get used to it. The bear and bull market is too hard to understand at first especially if there is a FUD coming from some people , new people in the market tend to believe in this and at the end of the day they will panic sell.

Most of the holders don't have that mental strength to keep on holding. And when they see the price dropping, they sell in panic. It's not their fault either. They don't have enough funds to hold for 4 years. In my opinion, mental strength is not the only thing that requires for holding. Knowledge and experience are also important. Good holders don't panic or expect small profits; rather, they wait long-term for huge profits. 4 years!! Yeah, it's a long period of time. But those who kept up holding for these years hit the bullseye.

Yeah, maybe we say it easily right now "let's HODL for a very long time" but it's really a different situation, once our stash of Bitcoin has hit 1 million US Dollars or even more. It will be very tempting to sell because after selling it, we would be insanely rich.
So, we can see, it's not easy at all to be a good HODLer.  :D

In any case, I would always try to keep at least a fraction of Bitcoin.
Never sell everything.  ;)

I am a hodler too, but honestly, it's a hard task. I need a lot of patience for that, and it is hard to control emotions. We know emotional decisions aren't the perfect move in crypto. However, I am still a holder, though I am not sure how long. My habit is to take advantage of the volatility and buyback again. So I have some extra funds that help me in my daily life. That's the reason I store my funds in hardware devices and keep them far from me. So easily, I can't sell emotionally. I need to have more patience, to be honest. So I am still practicing this. I hope I will be a great handler rather than just a holder.

You're correct.
You seee, it actually looks very insensible to allow your coins to read down bellow, believing that it'll definitely go up...that's where hope plays a vital part..
Sometime in the past, I use to ask questions like; what if it doesn't go up anymore? What if this is just manipulated to suck up the world's investment and die in a twinkle of an eye?.. at the end, I decided to dig deep, investing my time in personal tutorings ECT...

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I've grown to discover how wrong I was.

Sandra 🧑‍🦰

If you are a holder, you can also determine within yourself how long you want to hold for. Your reasons for holding has to be well articulated. There are even more people holding now than before. They have started to understand it's importance. One of such is the low volatility.

Reason for holding is such a great challenge.
If I am holding to build a house after the bull run and in the process of holding, there is a financial problem that is needed to solve, if I have no emergency fund, it means that I could cut my hodl short and take care of the most needful.
The best hodler is one who holds with spare money, or money that is actually not budget for anything. This is the only way to keep going even in the middle of a dip bear

I agree that hodling is a mental challenge, especially if the hodler is always a checker of the portfolio and a tracker of the bitcoin price.

Some people tend to break every rule made in this world. Sometimes I cannot hold myself from saying something straightforward. My forum journey began with a question in mind, it was "Can I lock my Bitcoin in a wallet? I found a solution at the end. But the problem was, I was making money online and spending them online as well. I was thinking of saving my Bitcoin for the future. But most of the time I end up gambling my bitcoin in online casinos. So I was looking for a solution. Coinb.in was the solution. I already know that saying Hodl is not hard, but most of us cannot hold it. We fail because it's a mental challenge and sometimes we fail to ourselves.

In any case, I have been holding for some time. Quite a bit of time. Around 85% of everything I earn is in my holding account. The rest I am somehow using to survive. I need to sell, because I need money, I need to buy things, but I'm holding myself back. Wait just some days. I know it may sound absurd. But I think if I can somehow pass this moment, I can hit a big. That's why I have been buying whenever I can. As we all know, we are at the peak of bitcoin. The halving will occur pretty soon, in April 2024. So until then, I will keep buying.

Never selling everything, almost holding everything.

I believe...
In the future, technology will not be able to escape from what is called blockchain.
So bitcoin investment is a promising investment in the future.
The value continues to increase and the technology can definitely be utilized by humanity.

As long as technology still exists and develops, bitcoin will continue to exist, and holding bitcoin is a wise choice. Even though Hold is a mental challenge, I agree with that, but if we can get through it our future will be even brighter.

Indeed, holding has many temptations, so what we need to change our mindset and invest confidence in bitcoin assets. Indeed, holding looks easy and simple, but this strategy cannot be implemented haphazardly. So we have to go through various processes of analysis, mental and belief.

It is undeniable, indeed a big challenge, especially for beginners. Having mixed emotions and a lack of knowledge, you'll really become uncertain of your doings, and even holding becomes questionable. I could say this because this is what I felt before until I realized that holding is a must. We can't never beat that market volatility which sometimes we are urged to hold our coins and become patient. If we can't hold it means that we never see success as well. That is why impatient people suffer losses while those who can wait are able to reach their goals.

I understand what you feel and most people fail to practice HODL, to be honest this is very difficult to do because the mental stress of Bitcoin price fluctuations can disrupt this strategy in an instant when you feel panic from a bleeding market or a freefall forming a new bottom , Most people lose, most people give up and most people stop and even lose because they can't practice HODL.

Please know, friends, to reach heaven is not easy, you have to fail and fail, but it is not impossible, you have to keep trying and keep trying so that you are able to do it and prove that you can HODL your bitcoin until the specified time.


From what every Bitcoin adoption shows, most people use Bitcoin as a means of investing and maintaining the value of their money from inflation. Yes, maybe you are right that we will never be far from the future with blockchain and Bitcoin is the pioneer and also the king of all innovation. which is in the ranks of blockchains that have been developed to date. Deciding to hold bitcoin is a tough decision but the people who do it are very intelligent and have a strong mentality.

I mean you have a good point, but I guess it wasn't really that bad to go for early profit as long as it is still a profit even though it wasn't a big amount of profit, profit still profits so it is still good enough, also it wouldn't really matter since you're going to have the opportunity to reinvest your money again in case the market price drop again if the market price starts to skyrocket again arent you going to sell your Bitcoin, I believed that there were just some investors that doesnt really have the plan to sell there Bitcoin which I think is a good move but isn't a waste since your investing in cryptocurrency or Bitcoin in order to make a profit right? probably some are going to save not only for profit, but let's be honest we all invest just to make a good amount of profit, so if we did make a good profit aren't you going to sell your holdings?

personally, I would sell a part of my investment if I think its already a good price to sell and I already make a good amount of profit, but I wouldn't really sell all of my Bitcoin or cryptocurrency since there is always a chance that its going to surpass its past price, where you could lose your opportunity if that happened, also if what happened is the opposite the market price continue to dump, I already make a good profit giving me the opportunity to reinvest that money or maybe use it to invest to a safer investment.

There is a famous quote from the Bible that goes For where your treasure is, there your heart will be also. We all are buying and hodling bitcoin with the intent to make profit. Hodling is easier when you follow the rule Invest only what you can afford to lose, this eases the pressure mand takes your mind off your bitcoin hodlings when faced with financial difficulties.

I also agree, whether to hodl or sell in short term as long as the person is in profit it is still a good trade/investment.  It would be better if one is knowledgeable with trading to exercise trading then holding since trading can greatly increase an investors position if all his actions is a success.  There might be more risk involve but if successful the investor can reap more reward or profit.  Short term holdin isn't also a bad thing as long as he is able to rinse and repeat his action.  Besides profit will never be realized if we don't sell our stash.

If you have another profession and cannot dedicate your time to trading then it is advisable for you to consider the DCA strategy to build a portfolio for you to hold. Some experts say holders profits are greater than interday traders profits most of the time. Holders don't take much loss if they have great portfolio management skills and have the patience to hold their assets for enough time.

In addition, you shouldn't forget that nobody is currently able to predict the price of Bitcoin in the coming years. People saying the opposite are lying. Nobody can certify that Bictoin will be above the current price (around 28k$) in 5 years, or even in one year. Especially after the deployment of CBDC, nobody can say how the Bitcoin market will react to that. Bitcoin starts to get old, and it's expensive and slow to use compared to most of other cryptocurrencies, so its adoption is likely to happen as time is passing. Only serious technological changes could reverse the trend IMO.

Well, that's a really long question, so let me elaborate each detail.  :D


Of course, a profit is already nice and a pizza for some magic internet money is also already nice but it is also about missed profits. Because by selling early, we are at risk of missing much more profits. Of course, selling early for a profit can also mean, we have a safe profit, in case Bitcoin's price will go down again.
But as a HODler, we are always speculating to have a rising Bitcoin price. Maybe not speculating to have a rising Bitcoin price tomorrow, but a rising Bitcoin price next halving, for example.


But for such a case, we need to have a dropping Bitcoin price again.
And Bitcoin has overally been more often in a bull market.
So, it could happen to us to see Bitcoin rising even more after we have sold - and we would miss big profits.

In addition, even in case of a dropping Bitcoin price, we need to re-invest of course. Some people just go away after making a profit.


Well, people can still sell, only requirement is to have access to it (via private keys).  ;)


Selling mainly depends on everyone's general finances. Some people really need money and are forced to sell, some people don't need money and for such cases, I believe HODL is a very good strategy.  :)

I think it's all about the mental and emotional game, right? They say not to let your feelings run the show, but let's be real, sometimes fear creeps in, especially when you're HODLing that Bitcoin. I've been on that rollercoaster myself, man. I mean, I'll preach 'HODL' all day, but in reality, it's not always easy to stick to it 100%.

I remember reading that the late Hal Finney envisioned a future in which banks would be backed by Bitcoin. He understood Bitcoin's scaling problems and that the main layer will never have the capacity for an entire economy. But he thought that banks could perform daily settlements in Bitcoin once a day. A decade away and we don't seem any closer to that.

This will be the solution since for making busy theirselves on their day job they can make them forget some things that can distract them on decision making to hold. Maybe on trading strategy it depends on the skills of traders since daily traders can still possibly earn more than bigger if they are good on trading. Holding is risky option but if this is done in right time and proper mental assessment for sure we can are successful earners since we have bull run seasons and that time can make us earn huge profit if we have long patience to wait.

If they do short term holding then its not a bad thing since the trader could decide for his self if what timeline he could able to sell his coins and as long as he earns then everything is fine on selected settings.

Holding can be risky if you are thinking about holding something that doesn't have massive support from the industry. Holding assets like gold, silver, bitcoin always seems profitable in the long term. Day trading can be profitable but it requires extensive knowledge about the market and experience. Despite that there isn't a guarantee that all of your trading will be successful.

However day trading requires time and patience, which can be challenging for many of us. A full-time professional trader can be a good profession if your earnings are sufficient to cover your family expenses. Even if you have a great skill and earn enough money to maintain your economic stability, it is advisable to have multiple income sources, as sometimes it can be dangerous to have only one income source.

Well, if you are a lazy person then you can be a good HODLER. Just keep your bitcoins in a place where it is difficult to access.
You will most probably avoid those occasions where the price has pumped and you are getting quick profits but you then you become too lazy to sell.
Thus you end up HODLING and price goes to the next ATH price and that's what happened to me. LOL.  ;D

I don't like holding through the bull market which is the right time to let go of your Bitcoin, I mean it's just smart to sell your Bitcoin when it's pumping hard and buy back when it's down, I respect the whales that have held for so long and the wallets are not active and I believe this doesn't mean you are dead or lost access to the wallet.

My strategy is buy on the dips and sell everything in the bull market, I will get them back, way cheaper when Bitcoin dumps again, it's true that holding is a pure mental challenge but it shouldn't be if a bull and bear market as happened right in front of you before, there must have been some lessons you learned.

This is why people get rekt in altcoins too, they hold and get too lazy to sell, instead to keep track on price actions, I mean you can do this with crypto trackers, there are few apps that you can use to track price movement online today, always pay attention to price action, once the bull market starts mostly after the halving it's the right time to get focused on price actions.

Thank you for pointing all these out. I must say that they portray the fear, safety, gains, intents and mistakes HOLDers make while holding their coins and how they should rightly go about it. However, as many might be guilty or careless about some or all, I must say that my own concern is only about the safety of my funds, not the psychology of Hodling them. This is because I've been a trader and investor for almost 2 decades, which is why I see the things of crypto as normal to me.

Nonetheless, this is helped by my plans on how to buy and exit safely without compromising it. My strategy to buy is to either DCA or Buy when a long-term bullish trend is confirmed. I exit only when I see a good reason to do so on the monthly chart, which is why I don't get affected if I make a mistake by that action.

As for safely Hodling it, I've set out 5 different non-custodial wallets that are open sources to distribute my coin for safekeeping. By this, all can't be comprised at once.

If I will be permit I love to take this topic to my local board naija "pidgin language".

It doesn't have to be a mental challenge or even an emotional one to be honest, I think that if you don't make bitcoin the only thing that revolves around your daily life. Now what I mean by that is that when you invest in bitcoin, you don't have to take it seriously by watching the market 24/7, if you're not a long-term investor I can understand why you have to be checking but for the sake of the topic, you are going to be a long-term HODLer which means that you're aiming for the long run growth of bitcoin, you don't need to worry about the dumps that's inevitable to happen in short-term. To be able to survive the HODLing, I think that you just have to learn to think that bitcoin's going to grow no matter what and your only goal in it is to accumulate until you're ready to profit.

Not the typical use of "not all the eggs in the same basket", but as per your concern on the safety of your coins, we could say "not your sats in the same wallet", which is also a wise practice. Now I wonder if you have your crypto portfolio diversified or you only hodl Bitcoin: as an investor with 2 decades of experience, I'm curious what your strategy is.

About the art of HODLing, what is easy to understand in the theory is often hard to do, because many people want fast gains with little money. If one hasn't much money, instead of trading or investing short term, they should try to get a good job and DCA like you: only if someone invests the money that can afford to lose won't lose the sleep when things go wrong in the market and will hodl long term without suffering.

Many don't want to hear that, but that's the way it is.


While you wait for the OP's answer, thanks for the interest in sharing :)

you are right.
Not your key not your CoinYou are really wise to keep your tokens or bitcoins in noncustodial wallets.Noncustodial wallets are held in your own hands while custodial wallets are wallets controlled by an organization.These wallets are more likely to be hacked.
If you want to keep your tokens as safe as possible you should always use a non-custodial wallet like Electrum or hardware wallet. So do not use any centralized exchange or wallet or custodial wallet to hold your bitcoins. Examples of some custodial wallets are Binance, Kucoin, etc. On the other hand, there are non-custodial wallets Exodus, Electrum, Mycelium Etc.

To be a hodler you must have patience and mental endurance.You can't be a real hodler if you don't wait for the four-year cycle.If you want to invest in a coin or bitcoin for a long time, you must bear stress and hold them until their price increases.When a person buys bitcoins during a certain period of time and holds the money until its price is halved, we call him a real holder.It is not so easy to become a real Hodler.

+1
4 years would be the time, I consider it to be HODLing as well and 4 years at least because as we know, the longer we will wait (in theory), the more profits might be the result.  :)

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Your translation would be nice to have, so your request is much appreciated.
I've officially reserved your translation in my list:

Language	translated by	Title
___________________________	_____________________	_______________________________________________________________________
Nigeria (Naija)	Chilwell (reserved)	reserved (https://bitcointalk.org/index.php?topic=5468668.msg63112192#msg63112192)

No hurry to translate it.
When you are ready, you can announce it here.  :)

Attention drawn after your profit have been gotten through bull run i don't see the point of still holding the best i can do is to buy during the bear market. To me that makes much sence then having and leaving it to drop there is no sense in that.  The way the whales show so much interest in holding and so dedicated, they have strong faith in bitcoin and I wonder how they did it to accumulate such amount of Bitcoin.

Your strategy is perfect even for does that don't have much,  the deep is the focus point and have a target once it is reached then sell and wait to do the same thing again. Holding is not just as easy as it looks it is so challenging because you will have different thoughts even to sell. You just have to stick to your gun and not sell. And one thing is that the bear market must come so is the bull market so make proper use of the both seasons is called wisdom.

I am going to say right off the top that there are some problems with both how the OP is framed and also with some of the responses within the thread.

Surely many of know and appreciate that there are needs for real world actions, and we cannot just use our minds to accomplish tasks or even to put ourselves into a position in which we are able to continue with a plan that we might have had wanted to carry out or maybe to have had started to carry out.

So, in that regard, I have a lot of doubts about whether any bitcoin related plan could be "purely" a mental challenge, even if there likely is a lot of mental component within any plan that we might attempt to carry out and to follow through with, including that sometimes whatever preparations that we might have made, to carry out the plan, may or may have not had been enough in order to put ourselves into a strong enough position as to follow through with what we had originally intended.

I would not even say that there would necessarily be any kind of absolute need to stick with a plan if the plan is not working, so sometimes there can be legitimate, rational and prudent reasons to actually abandon a plan that had already been started.

Part of any question might be to figure out what our plan is and then to attempt to both follow through with it and to learn along the way, so it could be that we establish a plan to invest into bitcoin for the longer term of 4-10 years or more and to follow a certain strategy to accumulate BTC in a variety of ways that might include lump sum buying, DCA and/or buying on the dip, but then we may also need to reassess our plan from time to time based on our individual financial and psychological factors, but also may have to do with our view of bitcoin.. what did we think about bitcoin when we started to follow our investment plan, and did something about bitcoin change in the process of following our plan that would either contribute to our need to reassess our following of the plan or to tweak the plan or to abandon the plan.

Sometimes bitcoin HODLers will wrongly conclude that either there is something wrong with bitcoin or that there might be some kind of a need to sell BTC when the price is dropping in order to either buy back at a lower price or to just save themselves from losing more than they had initially planned to lose.  Many of these can be mental challenges, but they are also challenges of putting systems in place that might be aggressive, but not so aggressive that it fails to prepare for BTC price moves in either direction, including extreme BTC price moves that go beyond expectations (which we also know happens in BTC from time to time).  

Ultimately we seem to get into a place in which we cannot really have strong assessments regarding how we might act in certain circumstances if we have not gone through a certain level of planning it out, preparing for price moves in either direction, but also engaging in kinds of investing into bitcoin that might border upon aggressiveness but does not go so far as to devolve into gambling, and sometimes if we are not sure about how aggressive that we might be able to be with our bitcoin investment, then it might be better to employ a more whimpy bitcoin approach in order that we don't contribute to our own feelings of stress in the event that the BTC price ends up moving against what we thought that it would do (which largely means going down in price rather than sideways and/or up).


You have some good ideas, but it also sounds to me that you have likely put yourself into a status of being over-invested in bitcoin, and you have a bit of a gambling mentality in which you are planning to cash out some of your BTC at a certain point in time after the halvening, while at the same time you don't plan to sell all of your BTC... so you are surely wanting to try to play the waves that may or may not happen and it may or may not work out for you.. though it sounds like you have a decent amount of patience and attempts to plan through some of the potential waves.

Within reason, I personally don't mind the idea of overly investing into bitcoin, but each of us needs to try to make sure that we have our emergency funds covered and our cashflow, so that we do not get into a financial and/or psychological pickle because we had been overly investing into BTC.

I guess this is something most of don't get, invest what you know you can afford while still being able to live your life the way you live. Bitcoin investment is not ponzi schemes that would crash, so you don't need to panic buy or sell but no body should still be having this mentality,
It's been a year since the FTX crash the term bitcoin is doom is over but bitcoin is still bitcoin with this and the previous challenges bitcoin will rise above all and soon people will see no need for CEX because bitcoin has overcome all the challenges CEX to the crypto world and so opt for DEX and non custodian wallet and it will be bitcoin or bitcoin investment.
Sometimes the biggest issues is during the bull run, though your plan was to HODL for 2 years and suddenly like 6 months time, the process surge some might be tempted to sale even before it reach their expected ROI.

Stress is a very difficult thing for a person to bear. But those who can withstand stress can achieve success in life. Coping with stress is not only applicable to investing but every activity in human life is equally involved in coping with stress. You will do a job and everyone else including your neighbors will laugh and make bad comments about you for that job. Such bad comments from neighbors will definitely set you back a lot in your work but if you are mentally strong and don't listen or pay attention to these words of people and if you focus fully on your work then success will be yours. When you succeed in your work with hundreds of stress, you will find that those who were criticizing you and those who were making bad comments about your work are praising you. 

Holding your investment for a long time is really stressful. When you invest and hold your investment for a long time, you have to face various challenges. Due to the volatility of the market you may see a lot of money loss temporarily if you are mentally broken then you will not be able to hold on to your investment but when you are mentally strong and these temporary losses will not affect your investment much but  you are successful.

Achieving success by investing and sustaining that investment for a long time is the next step for people to achieve success mentally first. An investor will succeed psychologically only when his mind does not stop him from holding the investment for a long time and he will hold his investment despite facing hundreds of challenges. 
Holding is a mental challenge that every investor must succeed in.

It's true that HODL is purely a mental challenge where the money market requires us to be able to face unknown financial seas. It's like being the captain of a ship in the middle of thick fog, it will feel awry if you do it or not at that time and your psychology is working.


Yes. Not only is bitcoin highly volatile, but investors in it and other cryptocurrencies are often targeted by criminals.

Is it all?, I think it depends on what they plan. All I know, don't have to hold back for long. Investors have their own techniques.
But if indeed he plans for the long term, maybe Hold is a good option. But indeed they must master mental emotions. They must learn to be patient. In addition, they must also have a target when they should take off. Because I know, there are those who hold back but they don't really understand when to sell.

I have translated one more post in my local language Urdu. And simplified much which can be understand easily. I read word by word and used simple Urdu words which can be understood easily. It takes much time. But it must be shared because these are some basic information which everyone should keep in mind.
Here is my post link:
 هوڈل واقع ہی ایک ذہنی چیلنج ہے (https://bitcointalk.org/index.php?topic=232519.msg63117852#msg63117852)

I completely agree that the real challenge of Hodl is the mentality of the holder himself. Even for those who invest in bitcoin for the first time, many of them fail in this mentality challenge. Because beginners' thinking will usually be like this "Sell when they get a small profit, and hope to buy back when the decline occurs again at a deeper price, but then they panic because the price continues to rise and finally they have FOMO and buy back at a higher price " ;D
This has become a common story that is often encountered by beginners who are learning to invest in crypto and Bitcoin. After repeating the same mistake several times. Only then do they realize and learn from experience and become stronger holders.

By being mentally tough we mean being normal in all situations. No matter how unfavorable the situation is, you must mentally try to make the situation favorable from Stong. A person is physically strong as can be seen from his physical structure but mentally strong person is one who can handle all the situations properly and can take decision in any situation with a cool head.  

Being mentally strong is so important that the armies of various countries are given special training to be mentally strong beforehand. The physical pressures may be solved with the help of others, but the mental problems that will come in life must be solved by oneself because one can never solve one's own mental problems.

Holding one's investment for a long period of time is very stressful. Not everyone can take this stress. Those who overthink their investments and those who are emotionally weak will not want their time to pass after investing. After investing, they will monitor the market every moment and if the market changes even a little, they will be very broken mentally. If a person who is mentally strong invests in Bitcoin and then if he has a plan to hold his investment for a long time then small changes in the market will not affect him much. Also, since he is very strong mentally, he will not worry much about the market.

Since holding one's investment for a long period of time is a mental challenge, every investor must first have the ability to take on the highest mental challenge. If an investor can take the maximum emotional challenge then the investor can definitely hold his investment for a long time.

No doubt with HODL is purely a mental challenge, I think not all investors or trader have holder mentality exactly when looking opportunity with bitcoin on higher price and prefer sell it early before reinvesting later when bitcoin have drop. I have bit mistake although as long term holding but I made investment on altcoin and more than three years have been loyal hand keep hold my altcoin assets. Looks have different condition if I choose bitcoin as my holding assets and I believe today have been raise higher price and earn more than 50% profit.

Hold is mentality challenge when some people can't controlling their emotion keep hold their bitcoin fund and never to sell it will be the winner later with their assets going to higher price, but if can't controlling emotion and greedy difficult have holding mentality and will be disappointed one day later when bitcoin raising to most highest price.

To be mentally strong in hodli, one must have a proper preparation and make up his mind that he will be hodling for a long period of time and also have a bitcoin target goal. If you are not well prepared by making the calculations of how much you will use to DCA regularly that will not affect your cash flow and also know how much emergency funds that will be kept incase an emergency occurs, you shouldn't use funds for other responsibilities like basic needs to invest in bitcoin if not, you will be trapped with your emotions and sell when it is not at your will of selling.

 When you don't prepare yourself and you think that you can just buy bitcoin and hodli, you will be faced with so many challenges that can end up ruining your plans to hodli for maybe 4yrs and above. The dump and pump is not a problem for someone who uses 10% of his income to DCA weekly or monthly, because he is more focus on accumulating irrespective of bitcoin price at that moment. I will say traders and short term hodlers are the ones that panics in any small fluctuation in bitcoin price. Long term hodlers always win if you can be patient and disciplined.

For sure bitcoin investors can do whatever they like when it comes to the creation of longer term plans and whether they abandon those plans (temporarily) because they believe that they are catching some kind of a price wave and expecting a correction. 

I understand the inclination to get into bitcoin and to believe that a 1-2 year plan is long term, when the fact of the matter still remains that bitcoin has had 4-year cycles and is likely going to continue to have 4 year cycles (until they stop), so even when I got into bitcoin in late 2013, I was thinking that my minimum investment time was going to be 1-2 years, so maybe I was saved from myself by the BTC price going down for my first 2 years in  bitcoin rather than it going up.. because surely I am currently thinking that any newbie to bitcoin should be able to come into bitcoin with a 4-10 year or longer plan in order to attempt to help to keep them in an actual longer term investment framework rather than something that is not really long term and is just going to tempt them into playing the price waves.

It is really hard to know how a person can create a system in order to keep themselves from being tempted by attempting to play BTC prices waves which is likely going to end up causing them too much stress when maybe they need to spend their first 4-10 years in bitcoin just building their portfolio, and if they happen to reach some kind of higher than expectations goals, then maybe they can start to consider various ways to cash out.. so for example, anyone who is just starting to invest into bitcoin or anything else is going to take 10 years to get to the point of investing 1 year of their salary if they are merely investing 10% per year, and getting to fuck you status will usually require 20-30 years of salary(living expenses), so surely it can depend on goals, and people will sometimes think that they need to make short term profits so that they can consume or buy a house or a nice car, so I cannot say that I really know how to get them into thinking in terms of real long term rather than their usually wrong thoughts of something less than 4 years as being sufficiently long term and then even ending up playing the waves in even shorter periods of time (such as 6 months like you suggest) merely because the BTC price might have had ended up going up a lot.

It seems that if you continue to accumulate bitcoin, then the longer that you are in something like bitcoin, you will likely become less and less stressed from the likely to continue to be volatile price moves. 

Surely in the very beginning of your investment into bitcoin, you might not give too many shits about the price moves because you have hardly invested anything into it, but as your investment grows then you might have more expectations that the BTC price goes up in order to put your investment into profits.

We cannot know what bitcoin's future is going to bring, but if there are greater levels of profits, then perhaps some of the stress might go away, but there still could be some questions about what to do with profits and whether to diversify into other assets if your bitcoin investment becomes too great in comparison to other assets in your investment portfolio, including if it is the ONLY investment (besides cash).


I cannot really disagree with any of this part, except maybe to attempt to clarify that each of us should be attempting to put systems into place in order to help us to deal with bitcoin's volatility, which is likely one of the things closest to inevitable in bitcoin.. we cannot necessarily know the short to medium direction of bitcoin's price but we should be able to expect that it is nearly inevitably going to be volatile in one direction or another and it is not necessarily going to be in the direction (UP) that we prefer it to be volatile.. even though historically BTC's price has tended upward, the upward movement is not guaranteed, even though there are ongoingly great systematic factors that are continuing to put upwards pressures on its prices.


I personally believe that putting good systems in place helps mentality, even if things might not go in your preferred direction, if you have good systems in place, including being both financially and mentally prepared for either price direction, and you are able to act upon movements in either direction, then your ongoing actions in light of anything that happens are likely going to contribute towards your being (and feeling) mentally stronger.
 

A person can have various plans that do not necessarily include HODLing under all circumstances, and so there might be plans to accumulate bitcoin up to a certain point and even to have various accumulation practices in place that connect with the person's cashflow situation, but then there also could be scenarios to deal with BTC price volatility, and if a person has already reached sufficient levels of BTC accumulation through DCA and other methods, then the next portion might just be dealing with price movements, so if the price goes down to buy and if the price goes up to sell.. but no need to sell very much because none of us should want to deplete our BTC or even to run low on it, even if the BTC price goes up a lot...

On the other hand if we are buying on the way down, we may well run out of money to buy, and then we either have to choose to revert to DCA buying or to just HODL, and HODLing does seem to be a better strategy for when we run out of money and the price is going down, but it does not seem to be a great strategy for when the price is going up, except to make sure that we are not selling too much BTC if the price is going up. .., so frequently people resort to HODL when the BTC price is going up because they frequently have difficulties understanding ideas of moderation and devolve into thinking that if if they sell, then they need to sell large amounts... which seems to me that anyone who understands BTC would want to make sure that they never sell all of their BTC and probably not even large parts of the BTC, even though it should be understood and accepted that selling parts of your BTC holdings is a prudent way to manage your BTC once you have reached higher levels of BTC, but if you are in early stages of BTC accumulation, then selling is not a method to accumulate more BTC.. so then HODLing would make sense for any one who is relatively early in their BTC accumulation journey, which may well take 4-10 years or longer to reach BTC accumulation target levels.


Part of the question is also how much to sell... because there may be no reason to ever sell more than half of your bitcoin  (or whatever amount that you don't want to sell until much further down the road), but at the same time, if someone does not manage his/her holdings by including selling on the way up, then that person is likely to put themselves in higher mental stress. 

On the other hand, even though there might be stress from highly volatile price moves, but if someone is still within the first 4 years of accumulating and either has not even gone through a whole BTC cycle while accumulating BTC or did not front load a lot into the investment, then there is likely no reason to sell any BTC while trying to build a position. 

Once the position is built, then that might be another story... so for example, regular people might take 30-40 or more years to get to fuck you status, and surely many people never get there... so if someone is new to investing expects to get to fuck you status in less than 10 years, then they may well be living in a fanatasy.. but if they are considering getting close to fuck you status in half the time of regular people such as 15-20 years, then that might be more realistic kind of preparations, and surely there can be ways to deal with BTC portfolios that involve selling that comes prior to reaching fuck you status as forms of managing the holdings, but it still seems to be better to build a decently sized position first, whether that is 50% of annual income/expenses or maybe 1x to 2x of annual income/expenses or perhaps some higher amount.

So, selling BTC on the way up might not be a good way to accumulate more BTC it could be a good way to manage BTC holdings and/or psychology, and there can be some challenging balancing in terms of considerations how to treat one's BTC's holdings if they might still be quite a ways away from still reaching their BTC accumulation levels... and we are not all going to reach the same conclusions on how to make those kinds of trade offs, including considering how to manage and/or play the inevitable upcoming and ongoing BTC price waves.

I a gree with you. Because it is true that most bitcoin investors who are HOLDERS are tempted by these two factors. Maybe if you think about it at a glance, these two factors lead to the aspect of minimizing the risk of loss. But even so, basically these two factors will be a big obstacle to achieving higher goals in terms of making a profit. So bitcoin investors who are HODLers should not be tempted by these two factors or two situations like that.

Therefore, when starting to invest in bitcoin in the long term, we must have a definite goal regarding at what price we will sell the bitcoin. Because if there is no price target, I think it will most likely affect our mentality. Especially if you want to transact bitcoin and look for short-term profits, in my opinion this is not recommended if we invest in bitcoin in the long term. Because as OP said, we only need to send the bitcoins we have at certain times. In my personal opinion, this only needs to be done if the target selling price has been achieved.

So in conclusion, I agree with OP's opinion that HODLer bitcoin is indeed a mental challenge. Because if a HODLer doesn't have a strong enough mentality to face conditions such as falling prices or wanting to quickly make (small) profits. I believe investors who have that mentality will likely never get the most out of bitcoin.

A HODL will be tested in his mentality for a long time, how he trains this patience by facing uncertain market situations sometimes influenced by FUD that comes unexpectedly, so strengthening the mentality is very important and how to overcome this is not affected which in the end you can successfully HODL bitcoin for a long time.

A beginner who is new to investing in bitcoin will experience ups and downs because their mentality is still weak but it can be strong if he learns a lot here about how to HODL bitcoin for a long time without any obstacles, maybe at first it will feel hard for this when the price goes up it feels like selling but when he trains not to sell in the near future then over time he will get used to it as long as you don't panic too much and pay attention to the market every day it's clear that it will disturb your mind to hold it.

I myself have arranged such a strategy to remain HODL for a long time, adjusting the flow to keep buying bitcoin by means of DCA, there is still a monthly income for living needs, the important thing is that you have covered enough living needs, then believe your HODL will not experience such heavy obstacles because there is still spare money that does not need to sell BTC for other purposes.

A good plan or as you would put it "a good system" is the only way that one can get his holdings secure and avoid certain drama's and distraction that might lead to tempering with his holding, although such drama's are inevitable in life so only a good system can help you evade or adjust so that much effect won't be on your side. But I would also like to point out that setting a good system isn't just going to cut it as one would still need a certain amount of discipline to actually execute or make this system active because I believe most people lack discipline in sticking to the actual plan and that's the main reason for many Bitcoin investor actually not holding till the end but a good system helps limit the amount of self discipline because a good plan and a keen mind is what is needed as a Bitcoin holder.

It may largely be a semantical difference since I think that I consider one of the differences between having a plan and a system, is that the idea of a system implies the existence of a plan that might get tweaked from time to time under certain criteria, and it also implies ongoing putting the plan into action and trying to learn from mistakes.

I have no problem with the acceptance that aspects of a plan might have some rigid and structured areas, and then other aspects will have more flexibility and there may well be acknowledgements that the system might not be perfect but it is fitting for the current circumstances, and maybe even when it is changed, it is ONLY tweaked here and there.. but there might be stages in which more major changes might be justified.  

In my attempts to follow my own systems, I frequently will find myself making the larger of adjustments after large price moves have occurred, and so sometimes that might be the implementation of a kind of bigger change, and then letting it run for a month or two and then revisiting whether that BIGGER change is working very well.  

Maybe an example might be helpful, here.  

In early 2022, I had buy orders down to about $21k-ish, and then in around May 2022, the BTC price broke quickly below the 100-week moving average from $37k-ish down to right around $30k-ish, and I realized that if all of my buy orders filled down to the lower $20ks, I would not have any cash left.  So I made adjustments to them, and then when the BTC price broke down in to the lower $20ks I made further adjustments, and I ended up making several adjustments during that time to ultimately get my buy orders to go down to $13k-ish, and part of the idea was that it was not expected for the BTC price to break down below the 200-week moving average so quickly (which was then right below $22k), and once it did several adjustments had to be made to continue to buy and not to panic, and surely there were some folks who sold during that time and some of them were able to buy back in and some of them were waiting for $10k to $12k or even below $10k that did not end up happening.. So we cannot necessarily determine how each person is going to deal with the situation and whether one thing is better than another, and so I did not really start to feel good about my having had made it through the whole thing until the BTC price got back above the 200-week moving average in early 2023, but then there still was some uncertainties about whether the $15,479 bottom was in or not.. so there still would be quite a bit of guardedness, and some ways of dealing with these kinds of times worked better for some folks than others including their finances and/or their psychology..

and surely my assertion is that if you have good financial systems in place psychology will follow and usually I do not worry too much about BTC prices because I have orders set up to buy if the price goes down and to sell if it goes up, but there were a few days in June 2022 or so that I had to cancel my other social engagements until I figured out how I was going to deal with the BTC price continuing to drop, including that it had gotten down to around mid $17ks at that time, and it was not clear whether the dips were going to stop or not.

This often happens, beginners will definitely make some mistakes so that their mentality will form itself from the mistakes they make.

Indeed, Hodl must have a strong mentality, but without previous mistakes and experiences, our mentality will not be fully formed.
In the end they have this mindset.
People with a strong mentality: "bitcoin = Place to Store Treasure"
For people with a weak mentality: "bitcoin = Trading"

Because they will think that if bitcoin is past one year old, it will most likely not die, even though we are still in the early stages.

Hello Publictalk792  :)

Your translation got checked now and it's approved.
I've added it to my list as well:

Language	translated by	Title
___________________________	_____________________	_______________________________________________________________________
Pakistan	Publictalk792	HODL is purely a mental challenge (https://bitcointalk.org/index.php?topic=232519.msg63117852#msg63117852)

Maybe you could change the headline and translate it to "HODL is purely a mental challenge" in your native language (headline is still "Pakistan")
Many thanks for providing a translation as well.  :)

I am really sorry for that. This was my first time so little mistakes can be done by me. And I know I will learn from my mistakes I have changed the Headline too. Again sorry for that I will try to my best to not make these kind of mistakes again. Now I have changed it according to the topic. Here you can take a look again.
هوڈل واقع ہی ایک ذہنی چیلنج ہے (https://bitcointalk.org/index.php?topic=232519.msg63117852#msg63117852)

 And thankyou for your compliments.

Sure it really not easy to Hodl due to the market fluctuations but however, a good trader needs to be very hopeful that the future holds more goodies than now so it is advisable not to be afraid of the uncertainty of the future of Bitcoin because so far as cryptocurrencies are concerned, bitcoin being a more volatile asset will continue to conquer and dominate the activities of all other cryptocurrencies.

If you invest in Bitcoin today, you must prioritize it for the future. If you save money one day that money will save you. You can save that money in Bitcoin only when you can HOLD it. Many first-time Bitcoin investors are attracted to the potential for quick profits and balk at the traditional psychological challenge of holding onto their investments for the long term. One of the biggest challenges for an investor is to avoid making hasty decisions when prices are low or falling. If you want to multiply your money then definitely HOLD Bitcoin long term.

Being hopeful is not enough for a trader since if they don't bring any good knowledge and experience regarding on what decision they want to do for sure all will fail since those trader can mentally caught up by some challenges they faced and might get affect for some condition that they didn't yet experience then dump their bought coins.

Bitcoin is really a volatile asset that's the reason why its important for us to know the risk and do some research regarding its past and possible future trajectory since for that for sure that if we plan to hodl for sure we can make it then we can surpass those trials like bear market which is actually a huge threat for a persons decision to continue to hodl.

There's huge future about it if people could just have long patience enough and have strong belief about good thing to happen in future.

Now that there will be ETF and the financial institutions are already in. This is going to make anyone wanting to hold more of their Bitcoins. While it's totally precious before and there have been folks that keep them reminded not to sell just because it's going down.

The thing here is going to make everyone notice of how much more its importance and significance on the upcoming years.

One has to decide for so many times before the final decision of selling some or even entirely.

Yeah saving it in bitcoin will be much better because if you look at it, if not for inflation that will affect the usefulness of your money, you won't enjoy spending that money, and its better to invest the money were you will expect some profit in return than just allowing the money to stay dormant in that account, because when you come to use it it won't have much value tha. When you invest it. And since people have encouraged people to hold a lot of investors have decided to hold for a long time which is best because any hasty decision can liquidate anyone so we just have to be very careful when we make decisions. Holding is beyond words it comes with a lot of dedication. Because a lot have been shouting hold and now they have sold everything. Anyone wanting to do bitcoin should be disciplined and make sure they have another source of income. It is very true that it is a mental challenge because you might not even need money but you might just want to sell.

I have been trying to build this idea that as a bitcoiner, you should have a wallet for holding and the wallet for transactions where a merchant accept bitcoin as a payment option. There is a strong thing here which is that, you do not have to worry whether you should spend what you hold in a case of urgency. Having a "spending" wallet solves this. It works like an emergency fund unit.

Even though it can be a bit more complicated to try to keep track of funds, you should try to figure out various kinds of systems in which you keep track of your funds, so part of your funds might be in categories that you do not spend very frequently, and you largely hold (like you mentioned), and other categories of your funds might be used for certain kinds of purposes, and maybe even many folks have discussed ways in which you might keep your KYC coins separate from your non-kyc coins.. but also there could be some issues regarding who you might be transacting with and that they might be able to see your prior transactions or at least the source of the instant transaction, so at least if you have some smaller wallet sizes for regular transacting, then it becomes a bit ambiguous whether 1-2 or several hops back if those might still be your coins or not.

It is surely also the case that if you have some of your coins a bit more difficult to access then you might not be easily able to access them in case you are tempted to sell at a time in which you should be HODLing.. or maybe you get confronted by someone who wants to take your coins, and if they figured out that you have the coins, then it could also be a question of how much work it might be in order to extract the coins from you. .and do they really want to go through that much effort.. which may partly depend on the quantity of the coins, but also might depend on how bad of a guy (how evil or greedy or feeling entitled to remove you from your property) he (or she) might happen to be.

Having a spending wallet and a holding wallet is a good idea but without decipline and a strong financial back up one might still end up spending from both wallets as long as you are the one in control of the wallet phrase.

Discipline is one of the most important thing that would really help us as holders and investors. Someone that is not discipline would always miss tracks and end up doing what they never intended to do. Having two separate wallet for spending and holding is good and things alone can help to be conscious about the way we spend our funds especially on unreasonable things. At least we can keep a separate wallet that would be motivating us to save for the future or when things are not okay for us. The idea of having separate wallet could be achieved if we are disciplined and focused.

Besides that, the higher fee (even if we don't like it), indirectly makes people reluctant to make transactions from their own wallet to exchange, this situation indirectly makes them Hold their BTC. I'm experiencing it right now, yesterday I just needed money (fiat) for the New Year event, but when I looked at the network fee, I just gave up that intention, and replan to create a simple event at home. This situation makes me think to just saving my BTC until peak, I just rethink collecting as much as I can. This unexpected situation may be good for a person who is very calculating in managing his finances.

Having that will be a great decision to do since you cannot think more nicely especially taking good decision if you only have one wallet available that's the reason that its important for us to have an alternative secured wallet intended for hodling purposes so that we could just deposit the amount we want to save then leave those balance we want to use for investment or other things we need.

That's why to many people fail to hodl and they are just good by words since they usually don't have something like this and have plan to hodl since they are just riding up on the discussion about hodling so that they can feel that they belong and not left behind for any discussions like this. For sure we can enjoy our daily activity on investment and will not think about touching our balance separated on other wallet since we could think about that is for future use.

That is for business people who accepts bitcoin as an alternative payment method. For pleb that are only into bitcoin investment, hodli can be possible when they have good financial management. They have made preparation of their emergency funds and also have funds in reserve that can take care of their monthly expenses, so that no matter what challenge that they are faced with, they will not touch the bitcoin that they are hodli. It needs self discipline, commitment, patience,and sacrifice to achieve this.

This is why you should only use the amount of money that you can afford to lose to invest so that you can always DCA regularly with that amount and build up your investment in a long term. You must have a source of income or multiple source of income to be a successful holder.

Holding one's own investments for a long period of time is quite a mental challenge for an investor. Not all investors can take this mental challenge and those who can take this mental challenge may hold their investments for a long time. Every investor faces challenges in holding investments for long periods of time. Due to the volatility of the market many times the amount of investment falls drastically and it frustrates an investor and at that time the investor mistakenly decides to sell his investment. On the other hand, due to some positive changes in the market, if there is some profit in the investment, the investor thinks of selling his investment at that time. Investors who can take on these challenges of not selling their investments in bad times and holding onto their investments when there are gains can ultimately hold their investments.

Its really a huge mental challenge since imagine how many bearish condition we could experience that provably scare us and also many negative news that can change our stand towards continue to hodl  for sure a lot of people cannot last long for having those issues. But for people who experience enough the worse and good things happened on the market for sure they can ignore those negative conditions since they are tough and their decision cannot be change by any other circumstances. Volatility can really frustrate people that's why before going into this things much really better for a person that they should equip first with the knowledge since everything in crypto is really stressful especially if they don't know how to handle their investment and their decision making towards on current happening so their stand towards holding will not be changed.

Investing is really challenging, because if a person invests his wealth in bitcoins and those wealths often come down due to bitcoin market downturns. A normal person would definitely be in a stock position, only those who have invested in Bitcoin for a long time are ready enough to make a long-term investment. But I have also prepared to invest several times, and I am mentally very much prepared at present.

Motivates the HODL, since I came back and got a reality check
The ETF is exciting but were not even at the top 100 days of Bitcoin yet until we pass 55,375 USD still got time to accumulate
 100  2021-04-21  55,375

Most decisions are made by some investors out of no choice. I could remember when I bought matic then around $1. I plan to hold this token no matter what happens. But this token later becoming deep during the bear season till around $0.45. This period I need money seriously to solve some issues, after looking around for where I could see the money and I didn't see any, I have no choice than to sell out this matic to solve the issue. I believe same thing mostly lead investors to sell out their token in deep.

I've experienced problems like that. maybe several times. because everyone's financial situation can quickly change. or some problems that occur to us can make us have to make difficult decisions by selling our assets under any conditions.
as is the case with the current conditions. with high Bitcoin transaction fees. If you are in a situation of necessity, then there is no other choice but to bear these very high costs.
no one wants to accidentally ruin their plans.

Good day sir,
I want to let you know that I have translated this topic https://bitcointalk.org/index.php?topic=5468668.0 to my local board naija, here is the link to my translation https://bitcointalk.org/index.php?topic=5480344.new#new
Thanks for giving me the opportunity for the translation,

It is only the millionaires and the billionaires that would keep holding irrespective of the market condition. An average investors like us would not want to lose from the market because the major reason why we are in the market is to make money and earn from the market.
The market can look very difficult for those of us trying to earn from it especially people that want to hold for a particular time so that they can earn too as others are earning. Holding is the key for crypto investors for a potential earnings.

I think everyone ever experienced this, I also experienced the same thing as you. When we have no choice, it is no longer about mental challenge but it is about an urgent need. You didn't do mistake if you sell your Matic at the moment although you were selling for a lose. You did it because you have no choice to solve urgent need. Bearish market sometimes becomes very challenging because of something like that. We possibly sell our coins if we have no longer fiats in our bank accounts. That's why we also need to consider having savings besides having investments. I personally divide my money in several thing, including for savings and investing. I don't use all my money for investing, I need some money for other purposes.

That reminds me of a joke:

Question:  "What is the difference between a million and a billion?"











Answer:  "Approximately a billion."


Think about how small potatoes millionaires are as compared to billionaires.  And with the debasement of the dollar, millionaires are everywhere.

Maybe soon there may be a need to start counting millionaires at $10 million or some higher number, because a mere $1 million does not seem to be enough to even live off of, especially in the west.

In my thread discussing entry-level fuck you status (https://bitcointalk.org/index.php?topic=5376945.msg58719591#msg58719591), I had recently changed my fuck you status from a $1 million to $2 million, and I am sometimes questioning if that $2 million is going to be enough.. even though I am going to keep that $2 million listed in there for a while longer.. but if our money keeps debasing at the rate that it is, I might have to double it again (which might be $4 million or even $5 million) in a few more years.   That would suck.  I hate to do it, but I am already sensing that one or $2 million is starting to be not very much (and $2 million presumes an ability to draw a passive income of $6,666 per month - that is 4% per year)... and maybe even $2 million will be struggling as a kind of comfortable way to live without working, but at least if we are talking about entry-level fuck you status, there is going to be quite a bit of variation around the world, but still some "luxury" goods still cost similar amounts, even if the person is living in poor places...


Holding is ONLY a good idea when it comes to bitcoin.. Holding does not apply to shitcoins.. just like this thread is not about shitcoins or crypto, but instead in the bitcoin department.  So if you happen to have any shitcoins, then you likely need to make sure you figure out how to get in and out of them and not get stuck holding shit and also thinking that HODLing applies to them, when it does not..

Regarding long term holding of bitcoin, then yeah there would be goals to increase your options by having been able to preserve your value better by accumulating bitcoin and then holding it rather than if you had held your value in fiat or perhaps some shitcoin.  

So if you are holding bitcoin for the longer term, such as 4-10 years or longer, then hopefully bitcoin will have outperformed other places (or assets) that you could have had held your value and including considerations of the likely ongoing increases in the cost of living based on ongoing debasement of the dollar (and other fiats).

Hello Chilwell  :)

Your translation got approved and I've just added it to my OP:

Language	translated by	Title
___________________________	_____________________	_______________________________________________________________________
Nigeria (Naija)	Chilwell	HODL na purely a mental challenge (https://bitcointalk.org/index.php?topic=5480344.0)

+1 for your translation.
Probably, an upcoming bull market (hopefully) will show how helpful my topic can be, if anyone achieved to HODL so far.
But taking profits at prices of, let's say 75k USD + can be an option as well, also depending on our situation, for example, if we need some money.  :)

It's sometimes a tricky question.  ;)

Many investors are forced to sell their coins if they face financial problems. And this is why it is important to invest such money for the long term so as not to be forced to sell coins at a loss for any reason. When investing for the long term you must keep these things in mind so that you can hold your coins until you achieve your target, and it will take time to achieve your target.