Addicted to HoDLing!

[AlcoHoDL]

Long-time lurker, this is my first post.

I got into the Bitcoin train very late, in 2015, by investing a few thousand € from my savings. I've now got 15 BTC, safely kept in cold storage, and the profit I've made in 1.5 years has been phenomenal. And all this by simply hoDLing. Frankly, I'm very surprised at the comments of many people here, saying that they're going to sell at $2000...

Here's my way of thinking: I consider my fiat investment in BTC as money already lost. What I mean is that I will not feel bad if I ever lose them completely. For me, losing a few thousand € of my investment capital will not make me poor. Will not affect my life at all. Similarly, a gain of $25000 means nothing to me. Will not change my life. Won't make me rich.

What will change my life is when 1 BTC > $10000. Then I will be gaining hundreds of thousands of $ (€ in my case). At that point (if we ever get there -- and I hope and believe we will), I will sell some (but not all) of my 15 BTC, enjoy my earnings, and still be in the Bitcoin rocket on its way to the moon. I do believe and speculate that this will happen and I expect this to take no longer than 10 years.

Selling all/most of one's BTC now, just to gain a few thousand $, is not a very smart move IMHO, unless it's absolutely necessary. My advice to all is to keep hoDLing your coins and don't let some smart guys pick them up for peanuts (because $2000/coin is peanuts when you think of where it could rise to). 10 years is not a long time to wait...

[Nagadota]

To some extent, you're right.

However, you were very lucky to get in during 2015 as there was a significant bear market then and the price was very low.

It all depends on whether price growth looks ridiculous or unstable like it did in 2013.  You'd be much better off if you'd sold near the top in 2013, just because you saw a pump and got ready to buy in the bear market that usually comes after pumps.  If the price went up to >$4000 in just a few weeks, I would either sell early or sell as soon as it crashes.  I wouldn't sell all but you'd end up with a lot more Bitcoin if you just wait for the big crash that happens after pumps.

[Kprawn]

$2000 might be peanuts for you, but for most people in 3rd world countries that is a fortune. I will also not sell at $2000, because I think it will

go much higher, but there will come a time when I will sell, but never every coin I own. If Bitcoin ever reach $1 000 000 per Bitcoin, I will want to

have a few.  .... It already made a huge impact on my finances and I already won the battle against debt. 

[lionheart78]

snipped
It already made a huge impact on my finances and I already won the battle against debt. 

That is very good news for your I think we are in the same boat.  After a year of reentering bitcoin economy, I almost cleared our family debt.  Just a few months more and we are free of debt.


I also like hodling but growing my BTC in terms of trading attracts me more.  Since I never had invested any amount of money in bitcoin, by doing freelance work and some bounty hunting, I am able to get myself a startup capital to trade bitcoin.  I save 20% of my profit and convert the other 40% to fiat currency. the 40% is added to the pool of trading investment. 

[cpfreeplz]

-snip-

Here's my way of thinking: I consider my fiat investment in BTC as money already lost.
-snip-

Selling all/most of one's BTC now, just to gain a few thousand $, is not a very smart move IMHO, unless it's absolutely necessary. My advice to all is to keep hoDLing your coins and don't let some smart guys pick them up for peanuts (because $2000/coin is peanuts when you think of where it could rise to). 10 years is not a long time to wait...

I never understand when people say they're going to sell either. Why sell a currency? Why not just spend it once you're at a point you're happy with? Buy a car or a house or whatever you've been saving for. Retire or get a boat. Whatever. I 100% agree with you that if you're "invested" in fiat, you're already losing. You're actually losing 1-4% buying power every year! If bitcoins were dropping 1-3% every year consistently like clockwork you can be damn sure I wouldn't still be invested in bitcoins.

HODL forever. Spend when you need them, don't ever sell everything. If you have 15 btc and you need to spend 5, whatever. That sucks. But don't sell all 15! your 10 will soon be worth what your 15 were worth, so why sell everything? I'll never get rid of all of my bitcoins ever because they're just so... Perfect.

[slackcryptoz]

Holding is a common practice that most of the bitcoin users does. This is just the way to profit good as the price increase continues for a long time period in a gradual manner. So every user is aware that holding long term profits them.

[richardsNY]

I am absolutely a HODL person too. However, I do like to do some occasional trading if there are opportunities to do so. It has allowed me to increase the number of coins that I have in a decent manner -- holding and trading don't collide with each other. Especially not when you have a certain balance that is solely meant for trading purposes, and one just for holding purposes. Holding doesn't require any effort, so the focus is purely directed at trading.

[xSkylarx]

Long-time lurker, this is my first post.

I got into the Bitcoin train very late, in 2015, by investing a few thousand € from my savings. I've now got 15 BTC, safely kept in cold storage, and the profit I've made in 1.5 years has been phenomenal. And all this by simply hoDLing. Frankly, I'm very surprised at the comments of many people here, saying that they're going to sell at $2000...

Here's my way of thinking: I consider my fiat investment in BTC as money already lost. What I mean is that I will not feel bad if I ever lose them completely. For me, losing a few thousand € of my investment capital will not make me poor. Will not affect my life at all. Similarly, a gain of $25000 means nothing to me. Will not change my life. Won't make me rich.

What will change my life is when 1 BTC > $10000. Then I will be gaining hundreds of thousands of $ (€ in my case). At that point (if we ever get there -- and I hope and believe we will), I will sell some (but not all) of my 15 BTC, enjoy my earnings, and still be in the Bitcoin rocket on its way to the moon. I do believe and speculate that this will happen and I expect this to take no longer than 10 years.

Selling all/most of one's BTC now, just to gain a few thousand $, is not a very smart move IMHO, unless it's absolutely necessary. My advice to all is to keep hoDLing your coins and don't let some smart guys pick them up for peanuts (because $2000/coin is peanuts when you think of where it could rise to). 10 years is not a long time to wait...

It is a great idea but we don't really know what coin would make it that long,
We don't even know if bitcoin would still be the top 1 crypto currency in the next couple of years.

[peter0425]

Holding is a common practice that most of the bitcoin users does. This is just the way to profit good as the price increase continues for a long time period in a gradual manner. So every user is aware that holding long term profits them.

And its most prevalent nowadays because of its high price. There are some early adopters that didn't hold but sell their bitcoin because that time they didn't know that it will reach to this price level. Others hold, but emergency situation comes along, giving them no choice but to sell. But I will hold bitcoin that I can also afford to lose so that most likely I can hold it for a long time.

[BitHodler]

I am hodling my coins firmly. I am not even considering securing profits at these prices. I value my coins too much for that.

And for those wondering, I am not bothered if the price happens to go down after this ~ it's all part of the market as nothing only goes straight up in value.

For me the long term is the only thing that counts. It was like that when I started in Bitcoin, and it's still like that today. I too believe that relatively speaking, current prices are peanuts.

[chaser15]

Here's my way of thinking: I consider my fiat investment in BTC as money already lost. What I mean is that I will not feel bad if I ever lose them completely. For me, losing a few thousand € of my investment capital will not make me poor. Will not affect my life at all. Similarly, a gain of $25000 means nothing to me. Will not change my life. Won't make me rich.

You got me here. This is my thinking too whenever Im putting money on a certain crypto. In that way, I can't feel much of the loss and if it will succeed to profit then it's a big bonus for me. Currently, I can applied that to my NEM activity. All bitcoins put to bought NEM back in 800 satoshis price are considered loss for me and not really expecting to make profit out of it because if you will just check it's price, from 800 it goes back to 400 and that is for months. Imagine that line of price and now currently sitting at above 10,000 satoshis which giving me now a good and decenet profit.

This is what you called long term hodling. Patience is really a virtue.

[The Sceptical Chymist]

$2000 might be peanuts for you, but for most people in 3rd world countries that is a fortune. I will also not sell at $2000, because I think it will

go much higher, but there will come a time when I will sell, but never every coin I own. If Bitcoin ever reach $1 000 000 per Bitcoin, I will want to

have a few.  .... It already made a huge impact on my finances and I already won the battle against debt. 

Yeah, no kidding!  OP could probably build a legitimate mansion in many countries with his bitcoin holdings.  Good for him.  Unfortunately for myself, I was still very skeptical about bitcoin in 2015 and I watched the whole Mt. Gox disaster as it unfolded whilst lurking on this forum.  Could have gotten in at $200...but didn't.  People who held on through Mt. Gox and earlier were very smart individuals in retrospect.  Kudos for all of 'em.

[AlcoHoDL]

I know what you guys mean, I know I can potentially multiply my BTC if I do short-term trading or play with altcoins, but I also know that this business is not as easy as it seems, and can back-fire. I don't want to risk it. I'm not a good trader, in fact, I hate trading and can't imagine myself selling/buying all the time, watching the charts 24/7, etc. I find it totally boring and also very stressful and time-consuming.

The only reasons why I'm getting involved in Bitcoin are 1. the mathematical beauty of Bitcoin/Blockchain (I'm an engineer/scientist and can appreciate it), 2. to support and take part in the digital money revolution, 3. because I've recognized that Bitcoin has the potential to grow massively in the near future, thus making it a great investment (with all the risks that come with it).

So, I say "hoDL and let it roll", and I'll be fine and cool wherever this roller coaster leads us.

[SvenBomvolen]

10 years is not a long time to wait...

Bitcoin crossed the point of 2000$. I didn't expect this will happen so fast. But bitcoin is constantly growing. I just took the look on the history of my transactions. during the year bitcoin raised 5 times high! That is something crazy! So in 10 years bitcoin can raise 50 times up. Can you imagine?!

[talkbitcoin]

I hate trading and can't imagine myself selling/buying all the time, watching the charts 24/7, etc.

you don't exactly have to watch the charts 24/7 in order to do any trades in fact things are much faster and easier than you may think.
but you are correct, if you don't like it then don't even try it because you won't be successful in something you don't like. and it is really stressful.

in this world you have to pick your battles. you either invest long term and don't bother with any trading, in which case you only invest in something that is worth investing ie bitcoin.
or you want the more work more income method and go into trading, spend a lot of time learning it and then spend a lot of time perfecting it and then spend some time actually doing it.

[Taki]

 

I know what you guys mean, I know I can potentially multiply my BTC if I do short-term trading or play with altcoins, but I also know that this business is not as easy as it seems, and can back-fire. I don't want to risk it. I'm not a good trader, in fact, I hate trading and can't imagine myself selling/buying all the time, watching the charts 24/7, etc. I find it totally boring and also very stressful and time-consuming.

The only reasons why I'm getting involved in Bitcoin are 1. the mathematical beauty of Bitcoin/Blockchain (I'm an engineer/scientist and can appreciate it), 2. to support and take part in the digital money revolution, 3. because I've recognized that Bitcoin has the potential to grow massively in the near future, thus making it a great investment (with all the risks that come with it).

So, I say "hoDL and let it roll", and I'll be fine and cool wherever this roller coaster leads us.

I am not a trader as well. Just can't imagine to waste my free time for watchin on the screen. I chose better strategy for myself - I put on the side 20% of my weekly earnings and I am calm, I just know that my saving is constantly growing in it's sum and in it's price