Anyone else think "long term" hodlers are idiots?

[HeRetiK]

You could argue the same thing with that mate exchanging 30,000 or 300K Bitcoins for a pizza, that is

Some short term investment like never seen before .

10k. Sometimes I wonder what ever happened to the guy that received the Bitcoins. Guy must be living on a lifetime supply of Pizza by now.

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[cafucafucafu]

Think of it like this, OP.

Long term wise, more peolpe are definitely going to accept bitcoin both as merchants and just as everyday users, right? So the demand for bitcoin as a global currency will definitely increase in the long term. But unlike fiat currencies, the supply isn't able to go above 21 million. It's restricted by lines of code. So that's the reason a lot of us believe in bitcoin, and why we're holding for the long term.

Yeah I'm an idiot and had already bitcoin when the price is only at $350 so I did hold it out because of people telling here that it will become higher soon. And I listened to those people because I'm an idiot and now the price of bitcoin is $2,400 something and it's even getting higher. Hooray for myself, an idiot.

Hahaha, well played sir.

[deisik]

Yeah I'm an idiot and had already bitcoin when the price is only at $350 so I did hold it out because of people telling here that it will become higher soon. And I listened to those people because I'm an idiot and now the price of bitcoin is $2,400 something and it's even getting higher. Hooray for myself, an idiot

There is one caveat, though

That is, you should never forget that until you book your profits they will remain only paper profits (read they could evaporate a lot faster than it took you to accumulate them). As the Russian proverb goes, chickens are counted by the fall. If we rephrase it, it could be said that profits (Bitcoin profits, obviously) are counted by August. So don't be an idiot and cash out at least some coins until it is too late. You can always buy back later when the dust settles and the sun shines bright again. Right now it looks more like a rainy weather with likely a severe storm dead ahead

[timerland]

Yeah I'm an idiot and had already bitcoin when the price is only at $350 so I did hold it out because of people telling here that it will become higher soon. And I listened to those people because I'm an idiot and now the price of bitcoin is $2,400 something and it's even getting higher. Hooray for myself, an idiot

There is one caveat, though

That is, you should never forget that until you book your profits they will remain only paper profits (read they could evaporate a lot faster than it took you to accumulate them). As the Russian proverb goes, chickens are counted by the fall. If we rephrase it, it could be said that profits (Bitcoin profits, obviously) are counted by August. So don't be an idiot and cash out at least some coins until it is too late. You can always buy back later when the dust settles and the sun shines bright again. Right now it looks more like a rainy weather with likely a severe storm dead ahead

Somewhat agreed.

When you cash your bitcoins out though, you're presented with pieces of paper that if not because of the government would be otherwise consideed quite worthless. So it's quite subject what is real value, and what is not. Some may consider bitcoin as a long term investment and they wouldn't care less about the short term movements in price. But you're right, if you can cash out at the highs and buy at the lows, that would be ideal.

time is the greatest deciding force in investments. If you have a good investment then time is going to make the investment grow even more, and imo bitcoin is a great long term oriented investment. There is no need for messing about with short term markets.

[talkbitcoin]

no they are not, but it would not hurt to diversify to hedge your position into a few other alts.

yeah it would hurt, and it would hurt a lot if you choose a wrong altcoin or any altcoin at the wrong time and invest in it. the dumps of altcoins are crazy.
if bitcoin goes down 10% in a day at worst times, an altcoin can easily lose half its value in 2 hours at best case dump.

not saying trading altcoins is not a good idea but saying considering them as a real investment is bad.

[IntelligentIdiot]

the buy-and-HODL or buy-and-forget strategy is actually hard to beat in the long run even by good traders. the daytraders may be able to scalp well short term but you cannot time the market for so long. at some point you will get caught up in bad trades and then later forget about the long term prospects of the coin you are into.

[tabas]

Yeah I'm an idiot and had already bitcoin when the price is only at $350 so I did hold it out because of people telling here that it will become higher soon. And I listened to those people because I'm an idiot and now the price of bitcoin is $2,400 something and it's even getting higher. Hooray for myself, an idiot

There is one caveat, though

That is, you should never forget that until you book your profits they will remain only paper profits (read they could evaporate a lot faster than it took you to accumulate them). As the Russian proverb goes, chickens are counted by the fall. If we rephrase it, it could be said that profits (Bitcoin profits, obviously) are counted by August. So don't be an idiot and cash out at least some coins until it is too late. You can always buy back later when the dust settles and the sun shines bright again. Right now it looks more like a rainy weather with likely a severe storm dead ahead

Thanks for those words actually I'm enlightened now if I'm going to sell some or not. I've been planning to sell and just wait for the price at dip and then start buying again. But I'm always late on doing that thing. And so it's final that before August 1 the price of bitcoin is going to be at dip? If that is so, I'm going to sell within 5 days.

[deisik]

Yeah I'm an idiot and had already bitcoin when the price is only at $350 so I did hold it out because of people telling here that it will become higher soon. And I listened to those people because I'm an idiot and now the price of bitcoin is $2,400 something and it's even getting higher. Hooray for myself, an idiot

There is one caveat, though

That is, you should never forget that until you book your profits they will remain only paper profits (read they could evaporate a lot faster than it took you to accumulate them). As the Russian proverb goes, chickens are counted by the fall. If we rephrase it, it could be said that profits (Bitcoin profits, obviously) are counted by August. So don't be an idiot and cash out at least some coins until it is too late. You can always buy back later when the dust settles and the sun shines bright again. Right now it looks more like a rainy weather with likely a severe storm dead ahead

Somewhat agreed.

When you cash your bitcoins out though, you're presented with pieces of paper that if not because of the government would be otherwise consideed quite worthless. So it's quite subject what is real value, and what is not. Some may consider bitcoin as a long term investment and they wouldn't care less about the short term movements in price. But you're right, if you can cash out at the highs and buy at the lows, that would be ideal

You likely meant to say subjective, right?

If so, I can't possibly consider what you meant to say as subjective at all. If we talk about dollars as "pieces of paper", then right now these pieces of paper have a lot more objective value than Bitcoin (value as utility, obviously) since you can buy with dollars virtually everything which can only be bought with money at all and virtually nothing with Bitcoin directly. So for most practical intents and purposes, it is an objective measure, i.e. a measure which is based on firmly established facts, not on conjectures and speculations (what might or might not be)

[cramcram21]

Nope I don't really think that long term hodlers are idiots,
Some hodlers make a huge amount of profit from holding their coins,
There are some news about a high school drop out who became millionaire because of bitcoin.
So I really don't think that long term hodlers are idiots he invested in bitcoin when he was only 12 and became millionaire at the age of 18.

[LeGaulois]

I still own Bitcoins that I bought back in 2013 or 2014, I don't remember exactly but I remember I paid ~225$ for each. Two weeks ago I was talking about Bitcoin with a friend, he is not really aware how bitcoin works ect, he still thinks bitcoin is the money for the dark web... When I told him I own Bitcoin bought back in 2013-2014 for 225$ and now the price is ~$2500, he called me asshole, and told me why the fuck don't you sell them? Well for an asshole it's not a bad ROI currently...

[Hyena]

I still own Bitcoins that I bought back in 2013 or 2014, I don't remember exactly but I remember I paid ~225$ for each. Two weeks ago I was talking about Bitcoin with a friend, he is not really aware how bitcoin works ect, he still thinks bitcoin is the money for the dark web... When I told him I own Bitcoin bought back in 2013-2014 for 225$ and now the price is ~$2500, he called me asshole, and told me why the fuck don't you sell them? Well for an asshole it's not a bad ROI currently...

I've been called a faggot when BTC went above 2000$ and the person who got pissed knew I bought in at 4$

[HasHe]

try asking that question to someone who long term held from 2011/12 until now. they would laugh in your face and then probably spit in it too.

Definitely,history is clear before us.Price of bitcoin was earlier $250 and it was $1000 in january 2017 and now in july 2017,its price is $2500.I think that OP has missed the chance of buying bitcoins at a much lower price and so he is speaking these words due to jealousy ha ha ha.

[1Referee]

I've been called a faggot when BTC went above 2000$ and the person who got pissed knew I bought in at 4$

It's a sore loser. If faggot means that you have made it, then so be it. I have been named plenty of things (mostly not all that positive) for having close to 50% of my wealth in Bitcoin. But hey, I am sitting here with a big smile, while I know that they have been lagging behind big time, with their wealth sitting in their savings account. I personally bought my first coins between $20-$25 in early 2013, from which I still have an x number sitting untouched in my wallets. I was wondering, have you kept your $4 coins in cold storage till now without touching them, or have you been moving them back and forth?

[btcney]

I still own Bitcoins that I bought back in 2013 or 2014, I don't remember exactly but I remember I paid ~225$ for each. Two weeks ago I was talking about Bitcoin with a friend, he is not really aware how bitcoin works ect, he still thinks bitcoin is the money for the dark web... When I told him I own Bitcoin bought back in 2013-2014 for 225$ and now the price is ~$2500, he called me asshole, and told me why the fuck don't you sell them? Well for an asshole it's not a bad ROI currently...

I've been called a faggot when BTC went above 2000$ and the person who got pissed knew I bought in at 4$

Wow, congratz. I actually had the opportunity to buy bitcoin at $100 like a lot of other people did as well. But we didn't take action.

The monetary supply of a currency in my opinion is one of the most important ways of determining whether or not it is worth it to hold it for the long term or not. Fiat currencies are known for notorious government intervention, and oftentimes the fiat currency ends up being worthless pieces of paper.

Gold and bitcoin are similar in the way that there is only a certain amount of bitcoin available to be mined. So even if the amount of demand for bitcoin only increases by 5% each year(impossible imo), priec is going to go up in the long term as demand outpaces the rate of inflation.

Long term holding is the safest strategy out there. The only way to profit in the short term as much as you do in the long term is to margin trade, and that isn't worth the risk in my opinion.

[Arkaen]

obvious dips is obvious in retrospect.

i'll bet most people if they attempted to 'day trade' would've sold all the moment it hit $1000 and sat around for months afterwards.

HAHAHA, obvious in retrospect only if you are dumb maybe.

Right now Ethereum is dipping, I can tell you right now it will dip to about $150, possibly more to double digits like $95

If you aren't shorting Ethereum right now and then buying the dip at $95-150 you are just plain dumb and hate money. So sorry for you and your family

Increased capital gains taxes from frequent trading must be considered. Those paying a capital gains tax of e.g. 30-40%+, need to make excellent trades for trading to pay off.

There are also huge risks involved with shorting cryptos. I asked the TradingView chat about how how the hell so many of them said they lost all their money. The common theme? They were all shorting cryptos, and the whales destroyed them.

Let's see if your prediction comes true. It seems likely, but not guaranteed, as you make it sound. Remember that many people are buying and holding ETH simply for ICO investment, so TA must be taken with a grain of salt (as always).

For those of us who got in cheap, e.g., $8, a correction all the way to $95 is easily manageable. I sold half my ETH at $400 as a hedge, but I'm holding the other half to avoid the tax implications of capital gains. I believe believe the average person using a portfolio strategy (buy pre-pump lows of innovative projects, sell exponential pumps), is massively outperforming the average active trader.  Traders may get better exits on short and medium term moves, but the most reliable way to win is to buy innovative projects super low before the swing traders get in, and hold them until hysteria hits.

If capital gains tax did not exist, I would be trading more actively using Ichimoku. But I've run the numbers, considered the odds, and would rather spend my time on other things than trying to time perfect entries and exits to compensate for increased tax load.

[Hyena]

obvious dips is obvious in retrospect.

i'll bet most people if they attempted to 'day trade' would've sold all the moment it hit $1000 and sat around for months afterwards.

HAHAHA, obvious in retrospect only if you are dumb maybe.

Right now Ethereum is dipping, I can tell you right now it will dip to about $150, possibly more to double digits like $95

If you aren't shorting Ethereum right now and then buying the dip at $95-150 you are just plain dumb and hate money. So sorry for you and your family

Increased capital gains taxes from frequent trading must be considered. Those paying a capital gains tax of e.g. 30-40%+, need to make excellent trades for trading to pay off.

There are also huge risks involved with shorting cryptos. I asked the TradingView chat about how how the hell so many of them said they lost all their money. The common theme? They were all shorting cryptos, and the whales destroyed them.

Let's see if your prediction comes true. It seems likely, but not guaranteed, as you make it sound. Remember that many people are buying and holding ETH simply for ICO investment, so TA must be taken with a grain of salt (as always).

For those of us who got in cheap, e.g., $8, a correction all the way to $95 is easily manageable. I sold half my ETH at $400 as a hedge, but I'm holding the other half to avoid the tax implications of capital gains. I believe believe the average person using a portfolio strategy (buy pre-pump lows of innovative projects, sell exponential pumps), is massively outperforming the average active trader.  Traders may get better exits on short and medium term moves, but the most reliable way to win is to buy innovative projects super low before the swing traders get in, and hold them until hysteria hits.

If capital gains tax did not exist, I would be trading more actively using Ichimoku. But I've run the numbers, considered the odds, and would rather spend my time on other things than trying to time perfect entries and exits to compensate for increased tax load.

why don't you swap cryptos then? don't trade fiat and you're good to go. one only has to pay taxes when the fairy dust settles and becomes something real. they can't tax fairy dust, can they ?

"hey man, you gained +200% by trading the GovernmentSucksCoin against WeedCoin so if you kindly sent us our share that would be great, and we will make sure you will get another copy of that memo"

[Golftech]

I've been called a faggot when BTC went above 2000$ and the person who got pissed knew I bought in at 4$

It's a sore loser. If faggot means that you have made it, then so be it. I have been named plenty of things (mostly not all that positive) for having close to 50% of my wealth in Bitcoin. But hey, I am sitting here with a big smile, while I know that they have been lagging behind big time, with their wealth sitting in their savings account. I personally bought my first coins between $20-$25 in early 2013, from which I still have an x number sitting untouched in my wallets. I was wondering, have you kept your $4 coins in cold storage till now without touching them, or have you been moving them back and forth?

early believers are now the god of crypto since they have their btc when its still to cheap and since they called themselves idiot they are not enjoying that stupidity of believing, well its still early being stupid and believes i guess so make your own now.

[fabiorem]

I bought bitcoins for the first time in 2015, it was around 0.7BTC. By that time I had bought it to pay a cloud on Mega and maybe other services that would require it. But other services didnt appear so I hold it until now. By march-may I started buying more, now I have near 2BTC and will keep holding it since I think it will jump even higher.

[nethan1btc]

I've been called a faggot when BTC went above 2000$ and the person who got pissed knew I bought in at 4$

It's a sore loser. If faggot means that you have made it, then so be it. I have been named plenty of things (mostly not all that positive) for having close to 50% of my wealth in Bitcoin. But hey, I am sitting here with a big smile, while I know that they have been lagging behind big time, with their wealth sitting in their savings account. I personally bought my first coins between $20-$25 in early 2013, from which I still have an x number sitting untouched in my wallets. I was wondering, have you kept your $4 coins in cold storage till now without touching them, or have you been moving them back and forth?

early believers are now the god of crypto since they have their btc when its still to cheap and since they called themselves idiot they are not enjoying that stupidity of believing, well its still early being stupid and believes i guess so make your own now.

I think it's a matter of your own belief and even if others looking at the holders of long term is an idiot, for me it's not a problem. The proof will speak against what these nevative peoples were thinking about stupidity by the holders who valued much more of their saving of bitcoin in their wallet. Maybe those critics behind bitcoin should invest and experience how challenging a bitcoiner holder is, and I can prove them the best of what I have within a long time investments.

[hase0278]

For me they don't look like an idiot at all if they are selling at huge price changes such as this and rebuying it when a huge dump occur like what happened in 2013. If they would not sell some, their profits would just be an imaginary one because they don't obtain the returns of their investments yet so its better for them to just trade it when crazy price movements occur.