Most crypto millionaires forgot that they had crypto!

[jinnyjinny]

really wise words ) and i think too, that sitting and waiting will bring much more money than trading. The main important point to make deep analyze before investment of anything and after that just wait . Now is the good times for buying right assets. Everything looks like a Christmas sale.

[AlexS_off]

I believe that when cryptocurrencies began to appear, many did not even imagine what their prospects would be. Many people bought them very cheaply. After a time, all have changed greatly. Many cryptocurrencies have become very popular and expensive. And now for many people who bought crypto is expensive very sad to watch as they lose in price.

[slyfox]

This is my council to you, invest some amount which you can afford to loose completely and then just forget that you have crypto, don't care much about the current prices. Be a F* HODLER.
Most crypto millionaires were holders and they didn't even know that.
Don't try everyday to understand the market and neither try to take profit from every bounce - you'll probably give it back to the market another day.
I will leave some quotes from Jesse Livermore which I assume are great for this topic:

“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this:  It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

“Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.

Those are some great quotes and even more importantly those quotes are true, it is interesting that in the stock market or in any kind of market by the way the ones getting the bigger profits are not the ones that are working the hardest like the day traders but the ones that do not do too much and that prefer to sit on their investments and hold for a long time.

[ahoenk]

I agree with what you said all of them.
All millionares from crypto now holder since 2009 or 2010 there are also holder from 2014. They investing not speculating or day trading. They buy with their cold money or the money they can afgord to loose like if we want to buy property hold that property for very long term 8 years or at least 4 years. If you see the chart every second you probably will not be a millionare because you will sell it in lose.

[solarion]

I believe that when cryptocurrencies began to appear, many did not even imagine what their prospects would be. Many people bought them very cheaply. After a time, all have changed greatly. Many cryptocurrencies have become very popular and expensive. And now for many people who bought crypto is expensive very sad to watch as they lose in price.

Since they bought it at expensive price, so better if they will give it another try by this time buying at their dips, long term investment should be in their mind, millionaires know such thing , unless they just inherit it.  soon after this dips there will see the market recovering.

After recovering has been started from the few weeks before. There are many people keep on investing multiple crypto currencies as I believe bro. Last night G20 meeting about the crypto currency also shows the positive output answer from them.
This indicated that bitcoin and alts will live for long years. When the talk about regulations also it has not been agreed any country. So safe value and better growth in future.

[almtu]

Riskier have more chance to lose millions of dollars but they are also the one who can rich just a day if got lucky. Millionaires can forget their crypto because they have huge money that manipulate their business to survive. While others who aren't rich alwayslook and check the prices and do some rush decision. Taking the risk can be good or it can be bad.

[kortwyss]

This is my council to you, invest some amount which you can afford to loose completely and then just forget that you have crypto, don't care much about the current prices. Be a F* HODLER.
Most crypto millionaires were holders and they didn't even know that.
Don't try everyday to understand the market and neither try to take profit from every bounce - you'll probably give it back to the market another day.
I will leave some quotes from Jesse Livermore which I assume are great for this topic:

“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this:  It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

“Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.

I've read his book, this is absolutely truth. Also I heard a plenty of stories about those who forgot about crypto and they are fucking rich, for instance 50 cent, he received some BTC for one of the contract and gained 8 mln $ once remembered about them. The most important thing is not to forget your private key, when you leave crypto for a years

[Gotomoon]

Riskier have more chance to lose millions of dollars but they are also the one who can rich just a day if got lucky. Millionaires can forget their crypto because they have huge money that manipulate their business to survive. While others who aren't rich alwayslook and check the prices and do some rush decision. Taking the risk can be good or it can be bad.

Yes true, for some reason's millionaires forgot other's account because of too many event to attend. Millionaire become's millionaire because they are risks taker actually. Investing in others platform to grow their money as this can be the good for the best profit that they can have.

[sweerty1]

I am not surprised as I keep finding coins from airdrops I joined and forgot in my wallet. As far as I remember people that forgot they bought bitcoin in 2009 are also high class riches now living in luxury.

[NaXxow]

those people are very lucky to buy in way back 2009, they are rewarded with big amount of money for believing in such project. That is the principle of good investing, and luckily, our present gives us another opportunity to buy in cheaper price. Yes, you heard e right, it is good time to go shopping!

[ilnick]

Here the truth is half. Hold is the best advice for investors. But there are intraday traders. With skilful trading, daytraders can do more than investors. But this is not given to everyone.

[slyfox]

I agree with what you said all of them.
All millionares from crypto now holder since 2009 or 2010 there are also holder from 2014. They investing not speculating or day trading. They buy with their cold money or the money they can afgord to loose like if we want to buy property hold that property for very long term 8 years or at least 4 years. If you see the chart every second you probably will not be a millionare because you will sell it in lose.

This is important, if we want to obtain great profits we need to hold for a very long time I have held only for a short amount of time and yet I'm still in profit despite the crash in the market and I have no doubts that if I hold for five years or more the profits I will get out of my investment will be nothing short of amazing, it will be hard but I think I will be able to do it.

[rallyko]

I also chose a long-term strategy. But still sometimes I sell altcoins, when they grow 3-5 times and then to buy them cheaper.
And I regret that I sold NEO for 10 dollars and could not buy then cheaper.

[unusualfacts30]

This is my council to you, invest some amount which you can afford to loose completely and then just forget that you have crypto, don't care much about the current prices. Be a F* HODLER.
Most crypto millionaires were holders and they didn't even know that.
Don't try everyday to understand the market and neither try to take profit from every bounce - you'll probably give it back to the market another day.
I will leave some quotes from Jesse Livermore which I assume are great for this topic:

“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this:  It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

“Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.

can't disagree with that but I would suggest that you do keep in touch with crypto and see how your investment is doing. Even if you don't want to do short-term trade, you should still keep track of your investment as anything can happen to it.

[Agathai]

I also chose a long-term strategy. But still sometimes I sell altcoins, when they grow 3-5 times and then to buy them cheaper.
And I regret that I sold NEO for 10 dollars and could not buy then cheaper.

Long-term holding strategy means you need to have the patience and psychological stability to overcome the dipping stages. Of course, holding to success requires ambition and assertiveness. Regret is what we go through. that's a lesson for me.

[Febo]

This is my council to you, invest some amount which you can afford to loose completely and then just forget that you have crypto, don't care much about the current prices. Be a F* HODLER.
Most crypto millionaires were holders and they didn't even know that.
Don't try everyday to understand the market and neither try to take profit from every bounce - you'll probably give it back to the market another day.
I will leave some quotes from Jesse Livermore which I assume are great for this topic:

“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this:  It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

“Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.

Yes only way to become a millionaire with crypto is not to sell.  Unless you were millionaire before of course. Other option is to have selling strategy.  I like the A Sane and Simple bitcoin Savings plan https://bitcointalk.org/index.php?topic=345065.0

If you have no plan and you tend to sell you will most likely miss all x100

[akitha]

I think they didn't forgot it, they are just hodling it till the price that they want is achieve, but some of them forgot it because they accidentally deleted their wallets and haven't back their keys 

[nuskill]

sometimes or probably most of the time its more profitable for crypto people to fall into a coma after buying coins instead of trading

But yeah....on the other hand trading makes fun. so why not see it as a hobby lol

[slyfox]

I also chose a long-term strategy. But still sometimes I sell altcoins, when they grow 3-5 times and then to buy them cheaper.
And I regret that I sold NEO for 10 dollars and could not buy then cheaper.

That is the risk that you took with your strategy, you are going to be able to grab a lot of fast profits when coins go up rapidly in price, but you're going to miss the big bull runs of many coins, as you exemplify with the example you gave to what happened to you when you sold your NEO for a cheap price, personally I prefer the opposite I prefer to hold for a very long time and wait for my coins to skyrocket.

[AshCoins]

Totally agree with the OP.  Know a guy that a few months ago found over 150 btc had been sitting in his Dropbox account from back when he used to mine it to test computers at work several years ago.   No way he would have kept it this long if he had known about it.  Likely would have sold when btc was $70-100.