After all these years, I just learned that. HODL, never sell. The only action allowed is accumulate (preferably when price is weak).
But I will become more active again when my
TenX card arrives. I am going to add my small contribution to the growing pool of people that actually spend cryptocurrencies in day-to-day life. Holding in crypto, spending as fiat, seamlessly.
Well, maybe we can clarify that the most basic strategy is HODL BTC. However, in order to get to the point of HODL, you have to BUYDL and ACCUMULATL.
The next more sophisticated strategy is to immediately (or near immediately) BUYDL back any coins that you SODL.
A more complicated strategy is to SODL small amounts of BTC as the prices go up, so in essence, you are never really selling your principle, but only the accumulation in value (and profits), and when the price dips (which it inevitably will in this ongoing volatile market), use a portion of those profits to BUYDL back, so you are offsetting some of the downside volatility and accumulating more coins.
One of the difficulties with attempting to follow more sophisitcated strategies is that guys get greedy and they sell too much or they start to think that they are smart and they can short in order to accumulate more BTC... DUMB!!!!!! and DANGEROUS!!!!!
So, I guess my point is to stick to BUYDL, ACCUMULATL, and HODL, until you really get used to those basics before you attempt to proceed to the more advanced strategies - and probably, it would be safe to completely abstain from shorting or other gambling type strategies, at least until you have really solidified your approach and your understanding of basic concepts of BUYDL and HODL.
The "Sophisticated" or "Complicated" strategies are, as you rightfully promote, are the best for whoever has only a modest capital available.
I don't think so. Even though I am describing more sophisticated and complicated strategies, I am not promoting them.
What I promote is a kind of dollar cost averaging approach and sensibility, not gambling.
If you spend some time accumulating bitcoin, with a sensible strategy, and don't buy beyond your means, then you are much more likely to get "rich" from bitcoin than if you are engaging in leverage or hedging and/or playing with money that you do not fucking have.
I am an older person, so I have had a large number of years of accumulating capital before I got into bitcoin; however, I accumulated my capital by dollar cost averaging over nearly 30 years by the time I got into bitcoin. When I got into bitcoin, I spent about a year establishing my position, which was a goal to put approximately 10% of my quasi-liquid assets into bitcoin.
In other words, I am saying prepare yourself for the upside and for the downside and be reasonable, and if you are able to be reasonable, then you are more likely going to be able to ACCUMULATL and HODL through the tougher times (which are likely not going to go away any time soon).
Yeah, you can assert that bitcoin is different and that I cannot relate to younger people, blah, blah, blah, but the truth of the matter is that I can relate, and even young people need to think in term of reason and incrementalism and having themselves protected in case we go into a bear market (even if we already are in a bear market - perhaps)... Anyhow, if you overplay your low capital hand, then your low capital hand has a higher chance of getting shook and fucked up by an overly emotional focus on getting rich quick, rather than being more measured, strategic and practical.
You don't want to place yourself into a position where you end up having to act emotionally, which is more likely when you are engaging in leverage rather than figuring out how to play within your resources and to build up your capital, even if it takes several years to accomplish.
Only, it is a damned hard thing to master with BTC. (I am not going to compare to some experiences with the female homo sapiens sapiens).
Well, fuck, bitcoin is a whole hell of a lot more volatile than other assets, and likely to continue to be volatile, and that volatility is not guaranteed as going up in the short term... so I think that one of the main differences with bitcoin is that in the long term there seems to be a pretty decent chance that it is going up from the price point where we are at... however, that going up is not guaranteed, it is merely a decent probability of such, which makes BTC a great fucking investment as long as you do not get too greedy merely because it has ongoing and great upside potential. In other words, you gotta prepare for both up and down without losing the perspective that long term chances of up are very decent (not guaranteed).
As for the TA part, I hope we will escape the "Hokusai" cliff that the WS casino players are surfing now right on the top of it.
I am not sure about what conclusion(s) you are reaching here.
Currently, we seem to have a price range of about $3,400 to $4,300, so yeah, I understand that is a large price range, but my point is that we should not be getting too excited unless prices either go above or below that price range in terms of whether we are going up or down, so yeah, currently we are bouncing a bit in the higher end of the current price range with prices of the last day or so bouncing up from upper $3600s to lower to mid $3900s.
Certainly there remains decent potential that the news of the Chinese cracking down “exchange closing” will continue to cause some bitcoin (and crypto currency) disruption and possibly present a regulatory model for other countries, it is far from conclusive that demand for BTC is going to dry up because of these kinds of disruptions and/or regulatory attempts.
So, in the end, let’s keep our heads, and let’s not put too much weight on any one doom and gloom scenario, or even put too much weight upon the stacking of doom and gloom scenarios, including the decently likely upcoming segwit2x hardfork, that will likely end in a similar kind of failure as the Bcash hardfork (even while threatening to one-upmanship the attack on bitcoin by planning for lack of replay and/or wipeout protections).
We cannot completely ignore the various ongoing attacks on bitcoin or even the attempts to describe them as “worse than ever before,” yet through the years, bitcoin has become stronger and stronger in spite of these kinds of attacks, so on a personal level we can continue to prepare ourselves mentally and financially for up or down (or sideways for that matter), but don’t become so delusional as to allow FUD spreading to shake you from what should be a strategy to buy and accumulate BTC.
Of course, any buy and accumulation strategy is going to be different for those folks who have already been in BTC for a while as compared with folks who are just entering BTC or considering an entrance into BTC.
Let me just repeat that there is no need to get excited until we get a price break either above or below $3400 to $4300 (of course I could be a bit off, but that is my assessment at the moment and based on some of our settling down in the past week or so)..
I will repeat from my assertion from an earlier post, there is no real indication that we are no longer in a bull market, therefore, there seems to be a slightly better chance that any price break outside of the current range would be upwards rather than downwards – however, we frequently know that there are fake outs and there are additional corrections that happen in spite of expectations, so there is nothing certain in bitcoinlandia, so we could have one more correction attempt and attempt to push us below the previous bottom of $2,972 and even down to $2,500. So no matter your status in bitcoin (newbie or long-time accumulator), you should be mentally and/or financially prepared for either price direction.
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