your bitcoin is not yours.

[Boiboi20]

i am aware we all have different strategies and goals for our investments but i am sure that a lot of us are planning to hold bitcoin for the long term and it got me thinking what ways could we do to prevent us from being tempted to sell our bitcoins and spend it on unnecessary things

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

I think that if someone doesn't have that much willpower and discipline to not touch Bitcoins that he/she intended for storing long-term, then the first thing that these people have to do is to work on it because it will help them in life and boost them in every way.
Anyways, there is one option for those who don't have high self-control. You can use timelock in this case. Timelock allows you to create a Bitcoin transaction in a way that the recipient of the output won't be able to spend them for a specific time. If you choose 5 years, you wont' be able to spend them for 5 years, doesn't matter how much you want it, so, it's a nice deal in this situation.

 Yeah I get what you mean most of us probably holding bitcoin long term but it hard part is actually not touching it when the price goes up or when you just feel like spending. However what I usually do is tell my self that stack is not even my money anymore it is just something I am putting away for the future so I don’t even count it as part of what I can spend day to day the more you stare at the price the more you all want to sell so sometime it is best to just forget about it.
Of course at the end of the day it comes down to discipline if someone does not have self control to stick to their plan that is something they need to work anyway because it all helps in every part of life not just with bitcoin. That being said there is cool option for the people who they might get tempted timelock basically you can lock up your coins for a certain number of years and there is no way to spend them until the time is up if you set it for five years that is it u can’t touch them for five years no matter what it is like forcing your self to stick to the plan.

[mak013]

You have strategies which work for your income and investment plan. Other people invest based on their income. If people find a personal investment strategy like you found, they could have profit when they are selling Bitcoin or any altcoins.

First of all. Where i said that i get 20% every year? oO I want don`t equal i get.
Second. I don`t know where you get statistics, i don`t have information about 2% or 5%. For me normal profit 7-12% per year. For my country it is normal profit. It is without cryptocurrency, just fiat money.
Third. I can decide what cryptocurrency i would buy/sell myself. x2 in BTC for 3-4 years would be good profit for me. Altcoins that can give huge profit can scam easily. Big altcoins wouldn`t give x10-x20.

And? Where i said something about others strategies or income? Your money is always your money and only you will be responsible for your profit/loss. I answered someone`s recommendation to me how to invest and what profit is would be ok.

[jackpotmaster]

I agree. 20% per year is good for everybody. But i would like to get 20% every year. I don`t sure that if i would by BTC today, i would get such percent. It`s cost is too high as for me.

20% per year is a dream percentage, most people fail to make 5% per year. Don't joke around these things with made up numbers. Most people don't even make 2% per year consistently.

And i know myself, i`ll sell when it would be x2-x3.

Then you are better to deal with altcoins, Bitcoin is not for selling.

First of all. Where i said that i get 20% every year? oO I want don`t equal i get.

20% per year means every year, that is the definition of per year. If you want to say something else, then it should be something like 20% every other year.

Second. I don`t know where you get statistics, i don`t have information about 2% or 5%. For me normal profit 7-12% per year. For my country it is normal profit. It is without cryptocurrency, just fiat money.

You can find it using bad sources like this https://www.fool.com/investing/stock-market/indexes/sp-500/annual-returns/ or dig deep into research. Most people like 95% are losing money in trades.

Unfortunately, inflation eats into those returns, which means the real compound annual growth rate of the index with dividends reinvested is 6.9%.

And most people are earning less than the S&P 500 returns.

[BitcoinSterilizer]

I understand what you are trying to say, just like having money in your pocket and forget you have money in your pocket and one day when you wear the cloth and you just dip and inside your pocket and you see some cash you forget in your pocket
It is possible if you buy your Bitcoin at once and hold it but is not possible when you are buying your Bitcoin every week or month in a small quality.
The only thing I will say is that every Bitcoin investor should have patient see Bitcoin investment as a long term goal so it can help you remove your mind form it.
Me I'm a patient person I don't get moved when I have decided to save I'm using Bitcoin as my savings all the money I get I save it in Bitcoin.
I'm happy I'm investing or saving my money on something that can change my life for good in the future  I so much trust Bitcoin 

[₿itcoin]

I understand what you are trying to say, just like having money in your pocket and forget you have money in your pocket and one day when you wear the cloth and you just dip and inside your pocket and you see some cash you forget in your pocket
It is possible if you buy your Bitcoin at once and hold it but is not possible when you are buying your Bitcoin every week or month in a small quality.
The only thing I will say is that every Bitcoin investor should have patient see Bitcoin investment as a long term goal so it can help you remove your mind form it.
Me I'm a patient person I don't get moved when I have decided to save I'm using Bitcoin as my savings all the money I get I save it in Bitcoin.
I'm happy I'm investing or saving my money on something that can change my life for good in the future  I so much trust Bitcoin 

That is just super cool to save Sats in savings plan. However, do not overlook that DCA is the actual way to go in most cases. You do not have to buy huge quantities to pile on. Even the small purchases accumulate in long run.  One does not only require to be patient to hold in the long run but it also requires clever decisions, not getting liquidated by FOMO or market crashes. Just keep adding to your stack, be smart and allow the Sat to work. You are on track mate, just be focused on the game

[Alone055]

I understand what you are trying to say, just like having money in your pocket and forget you have money in your pocket and one day when you wear the cloth and you just dip and inside your pocket and you see some cash you forget in your pocket
It is possible if you buy your Bitcoin at once and hold it but is not possible when you are buying your Bitcoin every week or month in a small quality.
The only thing I will say is that every Bitcoin investor should have patient see Bitcoin investment as a long term goal so it can help you remove your mind form it.
Me I'm a patient person I don't get moved when I have decided to save I'm using Bitcoin as my savings all the money I get I save it in Bitcoin.
I'm happy I'm investing or saving my money on something that can change my life for good in the future  I so much trust Bitcoin 

It's basically just a term used for saying that you should buy and just don't think too much about it. It's obviously not possible for someone to invest money into something and then literally forget about it, you will surely think about it even if you don't want to, but what you said is what one needs; it's patience that can keep you from the temptations of the market if you have bought and had decided to keep them for a long term, but then when you see a certain price, you feel like you should sell them now thinking the market might drop from here and you will lose whatever profits you've gained so far.

That being said, in my opinion, there is nothing wrong with taking profits from time to time if you know you are going to save the money and then buy back when the market goes down. For example, if you have bought your Bitcoin at $30k, and then you sell some at $120k, you have already made a good profit, but then you wait for the market to dip again, or maybe wait for the bear market, and then you buy again, and keep holding again.

A lot of people use this strategy, and they make good profit overall, apart from what they are going to get in the long run.

[CryptoHeadlineNews]

i am aware we all have different strategies and goals for our investments but i am sure that a lot of us are planning to hold bitcoin for the long term and it got me thinking what ways could we do to prevent us from being tempted to sell our bitcoins and spend it on unnecessary things

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

One of the ways I think is advisable to prevent you from been tempted to selling your Bitcoin investment, should be deleting your Bitcoin wallet to avoid been tempted, after you must have transferred your BTC to a safe non custodial wallet, where you own the private key to it. Because most times when we have our Bitcoin wallets on our device, it's always easy to get tempted to transferring it to your exchange wallet, where it will be sold through p2p. And I personally, have noticed that when I have funds on exchange, I'm always more easily tempted to sell it, unlike if the Bitcoin was in my non-custodial wallet. And likewise the same thing if the fund was on my non custodial wallet that was deleted from my device.

[mak013]

It is difficult to quote, but i`ll try to leave the main moments as is were. Sorry if i would mistake.

First of all. Where i said that i get 20% every year? oO I want don`t equal i get.

20% per year means every year, that is the definition of per year. If you want to say something else, then it should be something like 20% every other year.

Checking the first words:

I agree. 20% per year is good for everybody. But i would like to get 20% every year. I don`t sure that if i would by BTC today, i would get such percent. It`s cost is too high as for me.

I would like. Try to understand these words correctly.

Second. I don`t know where you get statistics, i don`t have information about 2% or 5%. For me normal profit 7-12% per year. For my country it is normal profit. It is without cryptocurrency, just fiat money.

You can find it using bad sources like this https://www.fool.com/investing/stock-market/indexes/sp-500/annual-returns/ or dig deep into research. Most people like 95% are losing money in trades.

I can use different resources and get different results. I matched that it is situation in my country. The same time i don`t care about other people, who first time bought crypto or stocks or bonds - they mostly don`t understand what they are doing. They aren`t investors, they are common people who want to spend their money in right way, but they don`t know how it works.