jubalix (OP)
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January 18, 2014, 10:25:16 AM Last edit: January 18, 2014, 11:09:59 AM by jubalix |
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Given the many large *crashes*, read, I only have 500% rather than 2500% since I purchased, and the risk of trading , being in fiat, and then seeing an order of magnitude jump in BTC, but missing out, or put another way selling because BTC has peaked, and only to buy in later less coins...and this has happened so many time now, eg, every one who bought at $250, and just held would still be 300% ahead now, for these reason the Hodl I believe has arisen. Hodl has just encapsulated a latent understanding of the BTC operation, and it didn't have an adequate descriptor before.
Hodl has several advantages. Less stress. You wait for the BTC services to come to you. Every day more goods and services can be purchased directly for BTC, so its more efficient to wait. You stand a better chance of doing a 10x by Hodl, but 10x in trading is not easy What are you going to do with your Fiat anyway? So you have FIAT now....what are you going to buy with it. Apart from say a good house, not much else is life changing, just a car that will devalue, or some plastic crap, or tech gadget that will be obsolete in 3 years. Essentially for whatever reason you went into crypto in the first place, it going to be difficult to find a better thing to do with the FIAT than be in crypto.
I'm not against say spending a portion of Hodl (making me a small h Hodl) so you can get something, or perhaps your initial Fiat back, so you can Hodl better.
I'm just trying to articulate the inchoate thinking behind hodl and why it resonates.
I'm not against trading, just remember for every winner in a trade there is a looser, and you can loose twice in an evaluation event.
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T.Stuart
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January 18, 2014, 10:52:39 AM |
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Thank you for this sensible message!
A word to new people thinking of trying their hand at trading: with hindsight everything looks easy.
I have lost track of how many short-term predictions from experts and traders have been wrong - I would say certainly the majority I have seen here. Many people have lost a lot of money trying to double their money quickly, rather than simply investing in the fundamentals and waiting for extraordinarily good profits a year or two down the line.
Unless you have money to burn or a sixth sense, do not day-trade with Bitcoin. Investing for the long-term has proven to be far more profitable for most.
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Wilhelm
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January 18, 2014, 10:54:37 AM |
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The OP is self-justification and an insight in the uncertanty of TS.
True: If you can't trade HODL. It is a good strategy I do it too and most people should.
If you think you can make "more" money hodling then you're still thinking in terms of fiat. If you think in terms of being able to buy more with crypto you are truely free of thinking fiat.
Cars will still devaluate if you buy them with bitcoin. The only thing that will change is how much you can buy with an amount of fiat/coin.
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Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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superresistant
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January 18, 2014, 10:56:36 AM |
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You can make big profit with trading but you must stay on the screen all day all night. Then most of your profit is used on drugs to balance stress or stay focused.
So fuck the trading. I am hodling.
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T.Stuart
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January 18, 2014, 10:58:34 AM |
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The OP is self-justification and an insight in the uncertanty of TS.
True: If you can't trade HODL. It is a good strategy I do it too and most people should.
If you think you can make "more" money hodling then you're still thinking in terms of fiat. If you think in terms of being able to buy more with crypto you are truely free of thinking fiat.
Cars will still devaluate if you buy them with bitcoin. The only thing that will change is how much you can buy with an amount of fiat/coin.
I agree wholeheartedly that weaning yourself off thinking always in fiat would be great - but for many people coming into the game and for most in the game (me included) it starts with thinking in fiat terms! So addressing the issues in this way is going to strike a chord with most!
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Bitcoin BEAR
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January 18, 2014, 12:21:31 PM |
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What is this, a bulls only support group? Who are you trying to convince?
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segeln
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January 18, 2014, 12:27:03 PM Last edit: January 19, 2014, 07:48:02 AM by segeln |
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What is this, a bulls only support group? Who are you trying to convince? so,go on and tell us some real good reasons for being a bear !
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T.Stuart
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January 18, 2014, 12:42:16 PM |
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What is this, a bulls only support group? Who are you trying to convince? If you don't explain things in a lucid fashion then people without experience would get swayed by the mad FUD and eccentric and biased TA that abounds in here!
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segeln
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January 18, 2014, 12:47:57 PM |
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What is this, a bulls only support group? Who are you trying to convince? If you don't explain things in a lucid fashion ... I never,ever read a very sound and lucid reason for being a bear
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Sitarow
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January 18, 2014, 12:48:47 PM |
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What is this, a bulls only support group? Who are you trying to convince? so,go on and tell us some real good reasons for being a bear?If you must then a good motive would be to pay down mining operation expenses/loans.
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jubalix (OP)
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January 18, 2014, 09:54:40 PM |
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What is this, a bulls only support group? Who are you trying to convince? so,go on and tell us some real good reasons for being a bear?If you must then a good motive would be to pay down mining operation expenses/loans. hodl PeerCoin, no mining equipment to pay down.....
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JimboToronto
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You're never too old to think young.
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January 18, 2014, 10:04:53 PM |
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Hodl has several advantages.
You forgot to mention that there are no exchange fees for holding.
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Dafar
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dafar consulting
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January 18, 2014, 10:27:32 PM |
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I'm a holder of BTC and LTC... but I do like to participate in movements that I can almost predict and increase my holdings.
For example... When BTC went up to $950 a week ago, there was almost no reason for that to happen given the fear of China's Jan 31st deadline, and it is obvious that the $1000 mark is where many traders who have been holding are gonna sell and take profits.
So I went to fiat when it reached around $930-940. Buying back in right now around $806 and gaining more BTC. It may keep going down past $800, but I don't care... I'm just going to hold it until it goes back again. The price can go either direction on Jan 31st... I'm willing to bet nothing significant will happen on the 31st (friday), but we will probably see another dip on Feb 3rd (monday). But I'm just not gonna worry about it and hold until Summer.
Every time it goes close to $1000 or even $1200, without something significant happening, it's a good time to fall back to fiat and buy at a lower price during the correlation. Every time the price is around $800, it's a great time to buy. I have just been following this simple strategy
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T.Stuart
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January 18, 2014, 10:29:09 PM |
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I'm a holder of BTC and LTC... but I do like to participate in movements that I can almost predict and increase my holdings.
For example... When BTC went up to $950 a week ago, there was almost no reason for that to happen given the fear of China's Jan 31st deadline, and it is obvious that the $1000 mark is where many traders who have been holding are gonna sell and take profits.
So I went to fiat when it reached around $930-940. Buying back in right now around $806 and gaining more BTC. It may keep going down past $800, but I don't care... I'm just going to hold it until it goes back again. The price can go either direction on Jan 31st... I'm willing to bet nothing significant will happen on the 31st (friday), but we will probably another dip on Feb 3rd (monday). But I'm just not gonna worry about it and hold until Summer.
Every time it goes close to $1000 or even $1200, without some significant happening, its a good time to fall back to fiat and buy at a lower price during the correlation. Every time the price is around $800, it's a great time to buy. I have just been following this simple strategy
Support at 800... straight from the horse's mouth!
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Bitcoin BEAR
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January 18, 2014, 11:54:17 PM |
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Hodl has several advantages.
You forgot to mention that there are no exchange fees for holding. Who cares about exchange fees? If you're profiting, then it's irrelevant. I would gladly pay 25BTC for the 150BTC of profit I've taken, over and over and over again. What is this, a bulls only support group? Who are you trying to convince? so,go on and tell us some real good reasons for being a bear?There's a question mark, but it's more of a statement... It was just two simple questions of if this is like an AA support group and who he was trying to convince!?!??! Himself?? I didn't come in here yelling "BEAR BEAR BEAR"! It seems to me, that every thread that pops up explaining why you're holding, is just fishing for approval. Trying to rationalize an irrational behavior. It sounds like the "acceptance" stage of grief when you're about to die. Tell me some good reasons to buy at whatever price and hold until it's worthless! Why is that such a good strategy? ...and "Because it has only ever gone up" is an unacceptable answer. What are your goals? Holding on the way down won't make you be able to buy more goods (less purchasing power). Fiat profits? Again, holding in an obvious down trend is a terrible way to preserve capital. I'm guessing it's greed! We all have it, but the HODLers ooze it from every orifice. Rational traders have greed too, sure, but they don't let it dilute their perception of a bad decision (aka delusion). Whoa, that felt good! Thanks, and have a nice day! ~BEAR
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T.Stuart
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January 19, 2014, 12:00:48 AM |
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Hodl has several advantages.
You forgot to mention that there are no exchange fees for holding. Who cares about exchange fees? If you're profiting, then it's irrelevant. I would gladly pay 25BTC for the 150BTC of profit I've taken, over and over and over again. What is this, a bulls only support group? Who are you trying to convince? so,go on and tell us some real good reasons for being a bear?There's a question mark, but it's more of a statement... It was just two simple questions of if this is like an AA support group and who he was trying to convince!?!??! Himself?? I didn't come in here yelling "BEAR BEAR BEAR"! It seems to me, that every thread that pops up explaining why you're holding, is just fishing for approval. Trying to rationalize an irrational behavior. It sounds like the "acceptance" stage of grief when you're about to die. Tell me some good reasons to buy at whatever price and hold until it's worthless! Why is that such a good strategy? ...and "Because it has only ever gone up" is an unacceptable answer. What are your goals? Holding on the way down won't make you be able to buy more goods (less purchasing power). Fiat profits? Again, holding in an obvious down trend is a terrible way to preserve capital. I'm guessing it's greed! We all have it, but the HODLers ooze it from every orifice. Rational traders have greed too, sure, but they don't let it dilute their perception of a bad decision (aka delusion). Whoa, that felt good!Thanks, and have a nice day! ~BEAR Yeah you must be getting seriously tense... tense and anxious. All that waiting. We feel for you man. Come in here and yell anytime you like. You can even cry if you want. We're here for you buddy.
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Bitcoin BEAR
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January 19, 2014, 04:14:11 AM |
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Hodl has several advantages.
You forgot to mention that there are no exchange fees for holding. Who cares about exchange fees? If you're profiting, then it's irrelevant. I would gladly pay 25BTC for the 150BTC of profit I've taken, over and over and over again. What is this, a bulls only support group? Who are you trying to convince? so,go on and tell us some real good reasons for being a bear?There's a question mark, but it's more of a statement... It was just two simple questions of if this is like an AA support group and who he was trying to convince!?!??! Himself?? I didn't come in here yelling "BEAR BEAR BEAR"! It seems to me, that every thread that pops up explaining why you're holding, is just fishing for approval. Trying to rationalize an irrational behavior. It sounds like the "acceptance" stage of grief when you're about to die. Tell me some good reasons to buy at whatever price and hold until it's worthless! Why is that such a good strategy? ...and "Because it has only ever gone up" is an unacceptable answer. What are your goals? Holding on the way down won't make you be able to buy more goods (less purchasing power). Fiat profits? Again, holding in an obvious down trend is a terrible way to preserve capital. I'm guessing it's greed! We all have it, but the HODLers ooze it from every orifice. Rational traders have greed too, sure, but they don't let it dilute their perception of a bad decision (aka delusion). Whoa, that felt good!Thanks, and have a nice day! ~BEAR Yeah you must be getting seriously tense... tense and anxious. All that waiting. We feel for you man. Come in here and yell anytime you like. You can even cry if you want. We're here for you buddy. Really, man? That whole post, and THAT's what you gather from it? hoo hoo ha ha hehe ho ho Don't worry about me, dood, I do very well around so many pigs. I'm cool, calm and collected
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deadfi$h
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January 19, 2014, 05:55:30 AM |
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Unless you have money to burn or a sixth sense, do not day-trade with Bitcoin. Investing for the long-term has proven to be far more profitable for most.
This is interesting and I think a lot of people around these forums agree with you. The thing to remember though is that buy and hold is a great strategy until it's not. I don't think it's wise to assume that previous growth in the price of bitcoin is going to continue forever. Unfortunately, new investors in almost every new raging bull market make the same assumption. Now that said, I would think you're probably safe as of now because there's still quite a bit more upside left to the market (in my opinion). I think about it like this... who lost money in the 2009 stock market crash? Or the .com bubble? Or the 1929 Black Friday crash? Lost significant long term, life changing money in the form of unrealized gains that turn into huge losses? It's always buy and hold investors that take the brunt of those losses. Swing/day traders might actually make huge profits on those same days. So sometimes the safe strategy isn't so safe when the market conditions suddenly switch on you. Short term investors have the ability to adjust to rapidly changing conditions where investors following the buy and hold strategy will be much slower to respond.
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TERA
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January 19, 2014, 06:16:29 AM |
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Reasons for being a trader:
1) I have 100x more coins than when I started.
2) I'm too lazy to list more reasons.
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segeln
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January 19, 2014, 07:59:45 AM |
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There's a question mark, but it's more of a statement... Tell me some good reasons to buy at whatever price and hold until it's worthless! Why is that such a good strategy? ...and "Because it has only ever gone up" is an unacceptable answer. What are your goals? Holding on the way down won't make you be able to buy more goods (less purchasing power). Fiat profits? Again, holding in an obvious down trend is a terrible way to preserve capital. The question mark was wrong. It should be an Explanation mark. I corrected it In your questions above you are implying an "obvious downtrend" down to worthlessness. My wish is it to get real,real good explanations for that. Why I am hodling? Because my expectations und surveillance of the BTC-World leads me to the conclusion the price-saturation is not achieved yet When i think it is achieved I will sell.
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