Transferring of wealth from the impatient to the patient!

[joebrook]

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.

It’s not always about being patient, sometimes you just need to have foresight to know whether the value of the crypto is going to go higher and lower and from that you should make your move. There have been instance of people who went for a long investment and still lost money.

[1714983394]

1714983394

[Abolaji11]

Holding your coin for a good period of time is important but holding a good coin is more important. But a wish and smart investor will  think of selling to rebuy back at a cheaper rate whenever the opportunity present itself.

[BitHodler]

It’s not always about being patient, sometimes you just need to have foresight to know whether the value of the crypto is going to go higher and lower and from that you should make your move.

How exactly can you obtain the foresight about the price to go higher or lower? Isn't what you refer to simply an educated guess? It definitely looks like it. Even in this case you're either right or wrong. In other words, a 50/50 chance.

There have been instance of people who went for a long investment and still lost money.

It depends on how long you plan to park your funds in Bitcoin. If you go for the long term (at least 2-3 years) it's impossible to lose if you can avoid buying into a bull run like the one we went through last year.

If you're only out to ride the market for a couple of months, there is obviously nothing that will guide you to the profits you hope to book. Most people lose because of how short term minded they are.

People are so obsessed with short term profits that it really works against them. I have never seen people demand quick profits from their stock investments. Maybe a sign that they are wiser than the crypto freaks here? I think so.

[Harrisonimo]

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 did told those that I introduced into cryptocurrency not to really get themselves worked up over not making some cash yet. I explained to them that the iCOs are mostly future projects which are coming into full play later. By the time this happens, the real worth of their tokens would be massive.

[Marial Carter]

The impatient sell bitcoin when price fall, the patient don't. It means that the patient are transferring the wealth to patient .However, if you hold too long , it also have much risk . YOU need to be calm to decide when to hold and sell

[Ridwan Fauzi]

The crash that has been occurred in 2018 has made bitcoin and altcoin had a negative image from several new investors. They will give a judge the cryptocurrency as improper as a place for investment, lots of manipulation and prices based on speculation will make them at least reluctant to turn back, that was something felt by some of my friends who have fallen victim by cryptocurrency because of their ignorance.

I always made them aware of being cautious in making a decision, the price of cryptocurrency based on supply and demand, which is the supply and demand were caused by several complex problems, but they ignored it.

The crash that has occurred provide a great understanding of everyone who is still in and investing, they must be aware that investment cannot be used as an instant place to get wealth. And I agree that last year cryptocurrency was a bubble that just exploded and left some opinions.

[bering]

The truth behind why people do not dare to hold their bitcoin and have no impatient is because in the bottom of their heart they were not believe bitcoin future although most people suggest to hold bitcoin for long term because we will see the benefit from that but in the fact only several people dare to do so and the rest of them is only talk without act but as usual remorse always be comes last that why they do not buy bitcoin when the price still low such as few years ago

[Indrawan77]

I agree that you need huge patience with crypto, crypto just start to grow so we can't expect something big could happen in instance, the growth also not that stable uet, but I do see a lot of potential and easiness that crypto could provide if its being mass adopted, and now we are in the process of fighting with regulation, if we can cope or win with the regulation then we can see huge rising of crypto value

[millensharon8]

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.

It’s not always about being patient, sometimes you just need to have foresight to know whether the value of the crypto is going to go higher and lower and from that you should make your move. There have been instance of people who went for a long investment and still lost money.

Well, even if you need to have foresight, you cannot have that without at least having some knowledge on how to take advantage of market trends.

A lot of people really want to tap from the market in the short term, but they simply do not even have a clue of how to go about it and this is the reason why sometimes, they miss out on the show, panic for some reasons and then make horrible mistakes.

It is a market, and there would always be the weak hands who really have no single idea or clue of what they are doing, and everything they are just after is quick gains. As long as you do not even understand the space you are getting into, that is a big problem on its own.

[awik p]

I agree that you need huge patience with crypto, crypto just start to grow so we can't expect something big could happen in instance, the growth also not that stable uet, but I do see a lot of potential and easiness that crypto could provide if its being mass adopted, and now we are in the process of fighting with regulation, if we can cope or win with the regulation then we can see huge rising of crypto value

patience must be added with a good analysis. so that what we wait for is not in vain later. this may apply to new coins. of course you have to be able to analyze it, so we get a low price and the pump will happen later

[Hui8]

To be honest its really a personal investment and with the time things do change in the crypto currency but not everyone is grasping the benefits of it at all. I have few observations though in which most of the people when enter into the crypto market then they makes xyz investment and then are always scared about it at the  first time. They will act crazy about it even when there is little % change in the crypto to down side. With the time they also learn that these are just part of normal ups and downs that takes place. The crypto is more or less cyclic in its behaviour and it keeps going up and down all the time. Nonetheless, it does give profit to each and every person if they are consistent with their investment.

[pumbum]

this is due to the fact that those who have no money, ready to sell what they have, in order to meet their current needs

[Sarastiche]

To earn real wealth you must be patient in order to partake of the bullish season, do not be in a hurry to cash out, the future belong to investors that can afford to wait and for some few month or year in order to earn real waelth, else you keep empowering others because of fear.

[bajingluncat]

Seeing the current situation, I began to doubt whether holding and holding bitcoin was still the best choice, uncertainty and lack of collateral made me doubt. Honestly in my heart, I was more certain that bitcoin might have reached the time to have a stable price and main purpose. bitcoin to become a medium of exchange will soon be achieved.

[Renaldi blackspadeteam]

Positive thinking is not prohibited, but if it is excessive it may not be good, in crypto trading no one knows the price prediction that will occur in the next 1 second, but if you buy and sell for 2-3 years it might have a positive impact and negative

[coinplus]

Holding your coin for a good period of time is important but holding a good coin is more important. But a wish and smart investor will  think of selling to rebuy back at a cheaper rate whenever the opportunity present itself.

I would even say the first step to be able to get the best from any investment is knowledge. It is always this knowledge that will guide your decision making and for most part of it, a lot of people who are always in a haste, or very impatient or panic easily are the ones who are just after some means of getting rich fast and they never care to understand what makes the future important, and even if you have to take advantage of some short term movements, you still want to be sure you are doing it right with wisdom.

Being patient is a virtue that comes with the ability to know what you are doing at every certain point in time and that is what is lacking in so many people. When a holder loses his faith on a coin, he get panic and then transferring his wealth to another person who may be another holder but he gets for cheaper prices (by considering current market situation).

As per OP, the current down market conditions trigger the process of transferring wealth from pessimist to new optimists. I am getting this perspective view now only but fortunately I am a long term holder of bitcoin and I never turned as pessimist even at hard times like bitcoin broke $6k levels.

[maculeth]

if it is not based on knowledge it is difficult to be patient to wait and hold coins for 3 years. but at least from the market that is currently happening and also bitcoin price charts from past years, yes we still have a great opportunity to become billionaires if you want to be patient and hold for several years. even now knowledge should have increased with all the lessons about crypto market in this discussion forum.

[cluit]

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.

Oh of course! Even in real life, when you are so impatient to wait for something, you may just end up missing it in the last minute. Patience is one attribute a lot of investors do not have in this space and that is simply because they never did come into this space for the reason being that they want to be a part of something big in the future.

But they are here because they want to make shit loads of money and at the end, they end up regretting the fact that they never had any long term goals as the case may be. If you are always in haste for something, the chances of never getting to see a better chance will always be there.

[Altcoins enthusiast]

As a cryptocurrencies enthusiast I can authoritatively said that holding is the major ways we can actually make money.  The patience one make money from the market and investing into cryptocurrencies now is one way you can became one of the wealthy people in the future.

[jrrsparkles]

I agree that you need huge patience with crypto, crypto just start to grow so we can't expect something big could happen in instance, the growth also not that stable uet, but I do see a lot of potential and easiness that crypto could provide if its being mass adopted, and now we are in the process of fighting with regulation, if we can cope or win with the regulation then we can see huge rising of crypto value

It is not a pure form of investment so we can't expect this to be an invetment for forever because when the cryptos were adopted by mass people then the prices will be stable so chances of making money with stable prices are hard and people also will look for some other investments.