Transferring of wealth from the impatient to the patient!

[arpon11]

I will like to say the plain truth about what I have think laid ahead of us as an investors, traders and speculators on cryptocurrencies market. Many of us that know about cryptocurrencies and bitcoin since 2010 and 2011 and did not see any reason to buy and hold till 2017 before selling will testify that impatient is the reason why they are not millionaire in the local currency.
in cryptocurrencies market we are witnessing transfer of wealth and this transfer is been done through creating a system that make some group of people selling their holding because of the fear of what the future hold. The wise one are buying and hold for 2 to 3 years before thinking to sell.
if you want to be a future millionaire  and billionaire? then think on how important it is for you to keep holding and patient with the market and in 2 to 3 years to come if you will not be in money, this money always come from the impatient one.
Goodluck to you friend.

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[dothebeats]

I digress. There are cases in which holding for too long causes an investment to lose its value, and even if bitcoin and crypto has repeatedly rise over several occasions and broke their previous records, how sure are we that the next time around we will be reaping the same amount just like what we had back then? Not that I'm against hodlers, but we can never be sure of crypto and bitcoin holding their value for too long. Diversifying one's investment is still king for financial literacy, as you always have a fail-safe when things get rough. Hodling long-term is okay, but putting all your money in it is not.

[Dig Bicks]

I digress. There are cases in which holding for too long causes an investment to lose its value, and even if bitcoin and crypto has repeatedly rise over several occasions and broke their previous records, how sure are we that the next time around we will be reaping the same amount just like what we had back then? Not that I'm against hodlers, but we can never be sure of crypto and bitcoin holding their value for too long. Diversifying one's investment is still king for financial literacy, as you always have a fail-safe when things get rough. Hodling long-term is okay, but putting all your money in it is not.

Hey MR Doom you should leave this forum because you obviously don't support crypto.

[Bagaji]

I digress. There are cases in which holding for too long causes an investment to lose its value, and even if bitcoin and crypto has repeatedly rise over several occasions and broke their previous records, how sure are we that the next time around we will be reaping the same amount just like what we had back then? Not that I'm against hodlers, but we can never be sure of crypto and bitcoin holding their value for too long. Diversifying one's investment is still king for financial literacy, as you always have a fail-safe when things get rough. Hodling long-term is okay, but putting all your money in it is not.

Hey MR Doom you should leave this forum because you obviously don't support crypto.

Why will you say he/she should leave this forum? It seems to me that you don't want to hear the truth or maybe, you don't have good knowledge of what investment is all about. Crypto currency is not basically meant to be hold forever and you should know that all investors in the crypto currency market are out to make profit from their investment.
Holding is not the only best way of increasing crypto currency market value but ADOPTION of crypto currency is the only way that value will appreciate. The higher the demand for Bitcoin/crypto currency the higher its market value if you ever do basic economics.

[HabBear]

I digress. There are cases in which holding for too long causes an investment to lose its value, and even if bitcoin and crypto has repeatedly rise over several occasions and broke their previous records, how sure are we that the next time around we will be reaping the same amount just like what we had back then? Not that I'm against hodlers, but we can never be sure of crypto and bitcoin holding their value for too long. Diversifying one's investment is still king for financial literacy, as you always have a fail-safe when things get rough. Hodling long-term is okay, but putting all your money in it is not.

Hey MR Doom you should leave this forum because you obviously don't support crypto.

He's just offering an alternative opinion to get paid. He does support bitcoin miners because he's getting paid to make his posts and then (likely, based on his comments) sells his bitcoin for fiat...and both transactions pay a miner.

The wise one are buying and hold for 2 to 3 years before thinking to sell.

Yes, there's been a huge wealth creation event associated with Bitcoin. Not sure that it's a transfer as much as it is a creation. By hodling bitcoin and watching it appreciate many are creating wealth (on paper at least) brand new. I suppose some of the transfer could be out of other investments, but that's a rare scenario for most current bitcoin holders. Most bought or acquired what they could and have watched that ownership increase in value. No one is losing value to create this new bitcoin value, it's not as if someone has to lose $1000 for me to gain $1000.

As for holding, I think we should be doing it for far longer than 2-3 years...but each person has their own agenda.

[Hamphser]

if you want to be a future millionaire  and billionaire? then think on how important it is for you to keep holding and patient with the market and in 2 to 3 years to come if you will not be in money, this money always come from the impatient one.
Goodluck to you friend.

If you do tell this advise wayback on year where bitcoin or crypto is just starting then it is possible but talking this thing nowadays wont really be the same on what we would possibly achieved on the future.Prices already soar up and it cant generate millionaires just like what happen to those early adopters or holders even nowadays. Impatient is not always a good thing but there are really times that we need to sell off due to some circumstances.

[aoluain]

I will like to say the plain truth about what I have think laid ahead of us as an investors, traders and speculators on cryptocurrencies market. Many of us that know about cryptocurrencies and bitcoin since 2010 and 2011 and did not see any reason to buy and hold till 2017 before selling will testify that impatient is the reason why they are not millionaire in the local currency.
in cryptocurrencies market we are witnessing transfer of wealth and this transfer is been done through creating a system that make some group of people selling their holding because of the fear of what the future hold. The wise one are buying and hold for 2 to 3 years before thinking to sell.
if you want to be a future millionaire  and billionaire? then think on how important it is for you to keep holding and patient with the market and in 2 to 3 years to come if you will not be in money, this money always come from the impatient one.
Goodluck to you friend.

This is a natural cycle. It happens in all markets, there are buyers and sellers.
Not everyone has the same outlook.

[figmentofmyass]

in cryptocurrencies market we are witnessing transfer of wealth and this transfer is been done through creating a system that make some group of people selling their holding because of the fear of what the future hold. The wise one are buying and hold for 2 to 3 years before thinking to sell.
if you want to be a future millionaire  and billionaire? then think on how important it is for you to keep holding and patient with the market and in 2 to 3 years to come if you will not be in money, this money always come from the impatient one.

markets are all about patience. this mindset applies to all markets, to varying degrees. it's especially apparent in the real estate market. i know people who bought their houses deep into the bull market and are getting killed by high mortgage payments. i've also known a lot of people who sold cheap into a bloody market. patience would have served these people well.

we have to concede though, that cryptocurrency is a nascent technology, and its value boils down to adoption/speculation about future adoption. because there are no hard fundamentals (as with stocks or agricultural commodities), this is quite speculative.

we might see its potential now, but there is no guarantee that this "transfer of wealth" into cryptocurrencies will really come to fruition. it could all come crashing down, as many have predicted. past performance doesn't guarantee future results, after all.

[Cryptomilz]

Like the old saying goes. 'Patience is a virtue..' It is needed as both a trader and a hodler. But, there are always two kinds of people in the crypto space, the trader and the hodler. It is always important to distinguish between a hodl portfolio and a trading portfolio. Once this is determined and clearly spelt out, then clear timelines must be set to tell how long the coins in that portfolio are going to be held. This applies to a trading portfolio as well, setting take profits points and staying patient till the trade hits TP is very important.

But in situations where the portfolio is being adversely threatened by drastic market downtrend, it is important to know when to exit the market, and in this case, exercising additional patience may cause you to lose everything. So there's the place of patience and the place of wisdom

[resty]

I will like to say the plain truth about what I have think laid ahead of us as an investors, traders and speculators on cryptocurrencies market. Many of us that know about cryptocurrencies and bitcoin since 2010 and 2011 and did not see any reason to buy and hold till 2017 before selling will testify that impatient is the reason why they are not millionaire in the local currency.
in cryptocurrencies market we are witnessing transfer of wealth and this transfer is been done through creating a system that make some group of people selling their holding because of the fear of what the future hold. The wise one are buying and hold for 2 to 3 years before thinking to sell.
if you want to be a future millionaire  and billionaire? then think on how important it is for you to keep holding and patient with the market and in 2 to 3 years to come if you will not be in money, this money always come from the impatient one.
Goodluck to you friend.

I'm very agree for holding for so several years because we witness already during the time from the start until now we know what happen from the lower price to the top price in 2018 although there is a big changes until since December 2017 but it is still good price when we compared from successive years start 2009.

[Kemarit]

I will like to say the plain truth about what I have think laid ahead of us as an investors, traders and speculators on cryptocurrencies market. Many of us that know about cryptocurrencies and bitcoin since 2010 and 2011 and did not see any reason to buy and hold till 2017 before selling will testify that impatient is the reason why they are not millionaire in the local currency.

The reason why people didn't buy bitcoin early because we really don't know what this technology can bring to us in the future specially in financial wise. Why would someone bought it a crypto-currency that is not tangible as compare to fiat? However, in the last 3 years specially when the price peak last year, it took the world by storm and everyone took notice.

in cryptocurrencies market we are witnessing transfer of wealth and this transfer is been done through creating a system that make some group of people selling their holding because of the fear of what the future hold. The wise one are buying and hold for 2 to 3 years before thinking to sell.
if you want to be a future millionaire  and billionaire? then think on how important it is for you to keep holding and patient with the market and in 2 to 3 years to come if you will not be in money, this money always come from the impatient one.
Goodluck to you friend.

That's separate smart investors from pure speculators. Smart investors is always looking for the long term impact of their investments while speculators will take any profit that fit their need. Its up to us where we wanted to be, If you choose the former then you really need to have a lot of tolerance and mental toughness.

[GregH37]

I will like to say the plain truth about what I have think laid ahead of us as an investors, traders and speculators on cryptocurrencies market. Many of us that know about cryptocurrencies and bitcoin since 2010 and 2011 and did not see any reason to buy and hold till 2017 before selling will testify that impatient is the reason why they are not millionaire in the local currency.
in cryptocurrencies market we are witnessing transfer of wealth and this transfer is been done through creating a system that make some group of people selling their holding because of the fear of what the future hold. The wise one are buying and hold for 2 to 3 years before thinking to sell.
if you want to be a future millionaire  and billionaire? then think on how important it is for you to keep holding and patient with the market and in 2 to 3 years to come if you will not be in money, this money always come from the impatient one.
Goodluck to you friend.

The rich do not become rich in just one way. There are multiple ways of becoming rich, simplest probably being inheriting richness. There are people like you said that waits out the bear markets and constantly keep buying from low amounts (still being careful about the risks of it as well) and wait out 2-3 years and they know something like bitcoin would definitely yield more profit in the long term than keep swinging on each trend price.

However there are also day traders that trade via looking at the indicators and buying or selling according to those and still make a lot of money from this, not just on crypto world but generally on forex as well. This all comes down to one thing, if you want to get rich you have to take risks but you also have to be smart about your bankroll and not go all in at once.

[davis196]

It's better for any business owner (both online and offline) to be impatient,to work hard and implement innovations fast.However patience can be a virtue in long term investing.
There's a belief,amongst the majority of the btc users,that bitcoin will go to the moon for sure.What if that never happens?Usually the wealth is transferred from poor and uneducated to the rich and educated.

[nicster551]

I will like to say the plain truth about what I have think laid ahead of us as an investors, traders and speculators on cryptocurrencies market. Many of us that know about cryptocurrencies and bitcoin since 2010 and 2011 and did not see any reason to buy and hold till 2017 before selling will testify that impatient is the reason why they are not millionaire in the local currency.
in cryptocurrencies market we are witnessing transfer of wealth and this transfer is been done through creating a system that make some group of people selling their holding because of the fear of what the future hold. The wise one are buying and hold for 2 to 3 years before thinking to sell.
if you want to be a future millionaire  and billionaire? then think on how important it is for you to keep holding and patient with the market and in 2 to 3 years to come if you will not be in money, this money always come from the impatient one.
Goodluck to you friend.

Truly it is very sensible that being patient gives you a lot of time to think for the right choices and would make you a lot of profit in the long run.

[CryptoAssasin]

When you are planting a tree, it takes time to grow and bloom. That also applies to investment where time is the top thing to consider or to keep in mind. I am also a long time holder before but i decided to change my tactic to earn from HODL. I am willing to wait until the right time comes but to give more excitement to it, i started trading those altcoins and multiply their number. I just set a number to those altcoins i like to HODL and continue trading. Here are my plans actually

1 × Bitcoin
10 x Ethereum
10 x DASH
10 x Litecoin
200 x NEO
50,000 x IOTA
50,000 x Cardano
50,000 x TRON
50,000 x Ripple

[KorakPawon]

Well, of course patient plays big role in holding bitcoin. but, holding for 2 or 3 years is too much I guess.  you can't lean on today's price since crypto is risky if you take it that way. there's always ups-downs situation where the price is unstable and unpredictable. it can fall down so deep, yet it can soar so high in another time. when it happens, you'll miss opportunity and of course you'll be far from wealthy. So, I think you need to be brave and encourage to take the risks, not playing around with keeping or holding your bitcoin for such a long period of time.

[tenebriscaelum]

I digress. There are cases in which holding for too long causes an investment to lose its value, and even if bitcoin and crypto has repeatedly rise over several occasions and broke their previous records, how sure are we that the next time around we will be reaping the same amount just like what we had back then? Not that I'm against hodlers, but we can never be sure of crypto and bitcoin holding their value for too long. Diversifying one's investment is still king for financial literacy, as you always have a fail-safe when things get rough. Hodling long-term is okay, but putting all your money in it is not.

And that is why multi-million business men are still millionaire in the end of the year as they are diversifying their options to gain profits and not just relying on one investment or company which is quite the opposite of people who are job based oriented which will only have one or few ways that they can earn. And what you said is true that putting all your money into hodling is not good as you can potentially lose more than gain something.

[Ranly123]

I will like to say the plain truth about what I have think laid ahead of us as an investors, traders and speculators on cryptocurrencies market. Many of us that know about cryptocurrencies and bitcoin since 2010 and 2011 and did not see any reason to buy and hold till 2017 before selling will testify that impatient is the reason why they are not millionaire in the local currency.
in cryptocurrencies market we are witnessing transfer of wealth and this transfer is been done through creating a system that make some group of people selling their holding because of the fear of what the future hold. The wise one are buying and hold for 2 to 3 years before thinking to sell.
if you want to be a future millionaire  and billionaire? then think on how important it is for you to keep holding and patient with the market and in 2 to 3 years to come if you will not be in money, this money always come from the impatient one.
Goodluck to you friend.

There are also holdings that lead to a loss if done for a long time. What I am trying to say is that, you should consider the market and the volume of a coin before deciding on holding it for years.

[The Sceptical Chymist]

I digress. There are cases in which holding for too long causes an investment to lose its value, and even if bitcoin and crypto has repeatedly rise over several occasions and broke their previous records, how sure are we that the next time around we will be reaping the same amount just like what we had back then?

Yep, it's easy to look back at 2010/2011 and see that if you bought bitcoin then and held it you'd be rich today.  Same thing with a lot of stocks.  If you'd bought Amazon stock a few years back you'd have made a lot of money if you sold it right now.  The problem is always that no one can see the future, and there's absolutely no guarantee that anything you invest in right now (and that includes bitcoin and all things crypto) is going to gain in value in the long run.

There are people who invested in gold and silver in 2011 right when both were at what I think were their all-time highs, and if they held onto what they bought they still would lose money if they sold in 2018.  And what about those who bought bitcoin when it was $10k-$20k?  They're still in the red, and bitcoin could just as easily fall below the price it's at now than shoot back up to those levels. 

"HODL" has become some sort of mantra around here, and I've always considered it kind of silly.  Whether you make a profit or not in crypto all depends on what price you bought in at, and I've seen people hold their coins for so long that they missed out on making money.  It's fine to take a long-term view of your investment, but you also should have a plan as to when you're going to sell.

[GDragon]

There is a big but when it comes to holding like what if you are holding a shitcoin?  Nonsense right?  Even you hold it 3-5 years there's no chances you to win. I would suggest be a wise person and ofcourse be a risk taker. You couldn't win without trying.