HODL - the synonym for I'm out of money but too greedy to sell.

[tvbcof]

It just means "I'm too dumb and/or lazy to trade". Everyone should hodl sometimes, you can't day tard 24/7. Hodling is not a great long term strategy, might as well delete your keys & give up, but there's a time for it, like when you just missed your opportunity to sell before the price dropped.

Hodling simplifies ones books.  That can be important if a guy turns, say, $10k into $1M within a few years and decides that it just makes the most sense to pay taxes.  It's also a lot easier, especially since it is not trivial to design a truly robust framework for maintaining control of private keys.

I'm sure that there are traders who had better performance that this, but I'm sure that there were many more who did not.  Successful trading requires that there are a large contingent of people who are more stupid than oneself in the game.  I can sympathize  with you if that is the source of your frustration and the driving force behind your post

[MonadTran]

Hodling is a way of saying "I believe this thing has a potential to go way up, long term, and I prefer to stay away from the risks and the troubles of day trading".

And you know what? No matter what you, EM, say over here, no matter if the price changes anywhere within the +- 80% of the current one, I still believe this thing has a potential to go up, and I still don't want to get involved with day trading. "HODL!!!" is a battle cry, to cope with emotional aspects of this long-term strategy. Because it does feel scary sometimes, but these feelings have nothing to do with the strategy or reality, they are inherited from the apes who were trained by predators into short-term thinking. With that being said,

HODL!!!1

[ElectricMucus]

Hodling is a way of saying "I believe this thing has a potential to go way up, long term, and I prefer to stay away from the risks and the troubles of day trading".

And you know what? No matter what you, EM, say over here, no matter if the price changes anywhere within the +- 80% of the current one, I still believe this thing has a potential to go up, and I still don't want to get involved with day trading. "HODL!!!" is a battle cry, to cope with emotional aspects of this long-term strategy. Because it does feel scary sometimes, but these feelings have nothing to do with the strategy or reality, they are inherited from the apes who were trained by predators into short-term thinking. With that being said,

HODL!!!1

This is entirely right.
And what I have pointed out is just the subconscious or suppressed emotional aspect of that "battle cry". It happens to cope with the requirement of inaction, because the only action possible would be contrary to the chosen strategy/ IE to sell.

[the joint]

people dont like 0.997664BTC, they want at least 1BTC.

Just like people not wanting $0.997664M. They want at least $1M.

 

Yes, absolutely.  Time and time again, people here seem to think that psychology plays no factor.  

It's absolutely the case that the high valuation of BTC dissuades a large number of people from investing.  How do we know this? Because I hear/see comments like this all the friggin' time!

Edit:  Why do you think we see price tags like $999.99 instead of $1,000? 

[zby]

When people stop defending hodling - this will be the mark that we can be close to the bottom.

[MonadTran]

the only action possible would be contrary to the chosen strategy/ IE to sell.

Not quite. Buy, sell, and hodl - all 3 possible short-term strategies are technically available to me. Buying would increase the risks, though, and selling at this point is pointless. So I choose to hodl.

[Flashman]

People demanding that you sell are like bullies demanding your lunch money, give them a bloody nose and tell them to fuck off.

[calian]

When people stop defending hodling - this will be the mark that we can be close to the bottom.

So you're saying we'll see $2 again? Sweet!!!

[afbitcoins]

People demanding that you sell are like bullies demanding your lunch money, give them a bloody nose and tell them to fuck off.

+1

[ElectricMucus]

the only action possible would be contrary to the chosen strategy/ IE to sell.

Not quite. Buy, sell, and hodl - all 3 possible short-term strategies are technically available to me. Buying would increase the risks, though, and selling at this point is pointless. So I choose to hodl.

Practically you can, probably if you aren't some high tier management type only sell - in any amount that matters, if you got in somewhat recently.

Oh and please pay attention to the debate, to avoid out of context quoting.

[ElectricMucus]

People demanding that you sell are like bullies demanding your lunch money, give them a bloody nose and tell them to fuck off.

+1

lol who 'demands' anything?

[coinpharmer]

People demanding that you sell are like bullies demanding your lunch money, give them a bloody nose and tell them to fuck off.

+1

thats pretty much what I see everytime someone saying its time to sell. if it does "crash" im not contributing to it... I have every hope btc will be widely used someday so I buy on every dip I can, but see no reason to sell any bitcoin Ive painstakingly gathered for a currency I dont have a ton of confidence in. I can buy less and less each year with my dollar, and people can buy more and more each year with bitcoin. that is the only chart someone should really need to base a judgement on. I sure hope to see these low $ coins though, if I could buy a few coins up quick an easy for cheap Id count myself lucky just like everyone else.

[BitcoinAshley]

To paraphrase Coinpharmer:

"I can buy less and less each year with my Argentinian Peso, and I can buy more and more each year with my Bitcoin"

ALL SIGNS POINT TO HODL

[ElectricMucus]

Each year since 2014?

Or is this one of your sockpuppet accounts BitcoinAshley?

[TERA]

The HODL strategy means:

1. "i don't want to have the total loss risks involved in transferring my coins, trusting an unregulated offshore entity, and holding the coins on a website where they can be stolen, etc"

2. "i want to lead a normal live without having to stare at charts, follow news, lose sleep, neglect social relationships, and not be able to live in the moment."

3. "I'm not an expert trader and don't want to bother becoming one. I'd rather trust the long term trend where i have 0 chance of making an error in trading. If i trade i might lose coins."

To hodl means you are content with only 1000% gain per year. To trade means the long term trend bores you and you want to do the work to try to make more (for example my 30,000% gain in 2013).To trade also means that in the event of a total collapse of the btc system, you MIGHT have something left to show for it. However, most hodlers aren't worried about that scenario.

Both strategies are valid and there are people for each strategy.

I respect the hodl strategy. However, i don't think hodlers should take an attitude and insult traders or call them stupid for selling. We should just respect eachother and have peace, and have more meaningful content in the forum.

[BitcoinAshley]

Each year since 2014?

Or is this one of your sockpuppet accounts BitcoinAshley?

Sadly, I have no sockpuppet accounts. I was just paraphrasing somebody else, which should have been obvious when I started my post with "To PARAPHRASE blahblah..."

I've held bitcoin in 2012, 2013, and 2014. I've sold bitcoins in 2012, 2013, and 2014. And I've bought bitcoins in 2012, 2013, and 2014. You know, just to clarify things a lil. Because in another post I said that I haven't bought any in over 6 months, in another I've said I put my entire paycheck into it every month and use it for 90% of my expenses, another I said I've been selling for a year, another where I said I never sell and never plan on selling, another where I said I liquidated my BTC stash and went all-in on DOGE, etc etc etc... this is the internet, remember.

[Bitcoin BEAR]

HODLing is for those that tried trading (whether short term or long term, it doesn't matter really) and failed. So they justify their irrationality by acting like everything is OK while their holdings lose value daily. They are fooling themselves... I mean, if you tell yourself the same thing everyday, nay 100x every day, you would begin to believe it too!

What TERA said makes sense too, but I like mine

[tvbcof]

Great bullet points (snipped) about HODLers.  As one myself, I concur.

...

I respect the hodl strategy. However, i don't think hodlers should take an attitude and insult traders or call them stupid for selling. We should just respect eachother and have peace, and have more meaningful content in the forum.

If someone tries to be a trader in the Bitcoin ecosystem between 2011 and now in 2014 (and probably into the foreseeable future) WITHOUT insider information and visibility into non-public data sources, they are quite naive (to be diplomatic) and likely won't be a trader for long.  This is not even completely idle conjecture on my part as are most of my other assertions, but I'll not comment further than that.  This is a simple fact of life in a non-regulated market.  Anyone who lost money trying to trade who was unaware of this can now start to understand why they ended up losers.

[surfer43]

Great bullet points (snipped) about HODLers.  As one myself, I concur.

...

I respect the hodl strategy. However, i don't think hodlers should take an attitude and insult traders or call them stupid for selling. We should just respect eachother and have peace, and have more meaningful content in the forum.

If someone tries to be a trader in the Bitcoin ecosystem between 2011 and now in 2014 (and probably into the foreseeable future) WITHOUT insider information and visibility into non-public data sources, they are quite naive (to be diplomatic) and likely won't be a trader for long.  This is not even completely idle conjecture on my part as are most of my other assertions, but I'll not comment further than that.  This is a simple fact of life in a non-regulated market.  Anyone who lost money trying to trade who was unaware of this can now start to understand why they ended up losers.

Where do you get that?   

[ElectricMucus]

What baloney, trading Bitcoins is easy as fuck. Just compare how real markets look like on real currency pairs in the forex market.