Let’s Play the Hodler Game

[skazzio]

This article has been written by Jason Bloomberg and published on https://dailyiconews.com, I just copy and paste it.

Let’s play a game. Here’s how it works.

I’m running the game in a room full of hundreds or even thousands of people, all of whom are looking to play in order to go home with a big wad of cash.

I’m giving one person at a time a poker chip, as quickly as I can.

I’ll offer the first person to hand me their poker chip in return an amount in dollars equal to all the poker chips in the room. But once I do, the game is over, and everybody else goes home empty-handed.

Now, let’s say you’re in this lucky audience. What’s your best strategy for going home with a lot of dough?

Turn in your chip too early and you win the game, but you go home with a pittance. Wait too long, however, and someone else will cash in instead of you.

The answer: do your best to convince everybody else to hold onto their poker chips, in hopes of going home a big winner. Then take a careful read of the crowd, and when there’s a mad rush to turn in chips, make sure you’re first in line.

Just so with crypto (although admittedly, the poker chip game is a bit simplified). But just as with the game, your best strategy is to convince everyone else to hold onto their crypto, because that’s the only way crypto will ever grow in value.

In other words, convince everyone else to be a hodler, since hodlers are chumps. Just make sure you’re first in line when the bubble pops – and good luck with that.

Jason Bloomberg neither owns, nor plans to own, any cryptocurrency or other cryptotoken, either long or short.

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[Kakmakr]

This same game can be applied to all currencies and commodities, because all investments are based on the same principle. You cannot take out the human dynamics out of investments, because it is part of the game.

It is easier to convince someone to hold on to their token, when that token can be used for some other purpose. Let's say you live in a country with hyperinflation and you want to protect the value of your wealth, then that token can help you with that and it becomes more valuable than all the tokens in the room.  

A lot of people are not using Bitcoin as an investment, so it's not applicable to everyone. 

[Genemind]

If we will relate this to Crypto world, we couldn't convince everyone to hold especially if they're holding shitcoins.
We could only advise people to hold if they're holding potential and multi-purpose coins.
As for me, we could gain a good profit depending on the coins that we're holding because no matter how long wait, if the coin has no future, we would still end up waiting for nothing.

[pakhitheboss]

Yes, HODLING happens in Crypto but only for Bitcoin and some big coins.

I know for sure If someone has invested accidentally in a BAD/SCAM project they will never HODL.

This article from Bloomberg clearly demonstrate how much effort and money they are Investing to create FUD in Crypto Universe.

Holding is natural phenomena in any Financial investment be it STOCKS, COMMODITY and If I am correct FOREX.

[davis196]

I don't understand the rules of that game.
However,I can understand how the whole HODL mindset works.The anticipation of a higher price makes everyone hold,but there patient and not-so-patient people.Sometimes the more patient people win more,because they can HODL more and wait for a better price.On the other hand,the nervous people,who want money fast can win if the price does down sooner.

[Ailmand]

The game of crypto is the most tricky game I know. If you would not choose the best ball then you will be holding a ball without value. If you'll give up too soon, you will not gain a good profit as well. The person who would be able to hodl until the end will gain a better profit. This game will test our patience and a person with the best strategy would win.

[jseverson]

I don't understand the rules of that game.

It's basically saying that crypto is useless and it only grows in value because of HODLers. It's taking a jab at people who tell everyone else to buy and HODL to raise prices, telling them to make sure they cash out before everyone else does, considering it won't have any value at that point.

It's just another guy trying to sound smart by setting up a strawman.

[americanreamt]

Yes, crypto games are another great way to make money. I think when they start to conduct major online championships using platforms based on the blockchain, the number of fans will fill up at times

[bobytobby]

Mining in crypto games is a novelty for me. But on the other hand, why not use it when you have free time, you can spend it on entertainment and at the same time get several tokens.

I prefer other ways to make crypto money. Why spend time on games, when you can gain experience, share it with others and monetize your knowledge, as suggested by the platform taklimakan. I do not think that crypto games can offer a high level of income. Is that if it will be professional card games

[gustavung]

Mining in crypto games is a novelty for me. But on the other hand, why not use it when you have free time, you can spend it on entertainment and at the same time get several tokens.

I think the usual mining platform, which will use the power of your phones to mine coins, is simply disguised as a game here. In essence, this is a conversation about the effectiveness of mobile mining. In some countries it can be profitable, where the price for mobile Internet is low

[Janation]

So I think we are making a way so we can earn money by ourselves and those people will get less than that?

I mean I am not that kind of people that say I  don't want that but I think that is unfair for some people that also want to earn money. It is like you are stopping them to what they want to do so you can have the upper hand when you want to do something. I am just kind, and I also regret that I grew up like this, I think being selfish is bad but sometimes it must be done for your self. The problem here is that with a lot of people, you can't trust all of them since they might do what you want but will make a move when they want to. You can't control people so I think that is the reason why this game is one of the hardest.

[Upgrade00]

Bitcoin is not a pump and dump scheme where you build it up and then cash out at the expense the network. The basic idea is not to get too greedy. Bitcoin is an improving network, and while taking profits (or trying to), one should not key out of this industry.

[creeps]

If we will relate this to Crypto world, we couldn't convince everyone to hold especially if they're holding shitcoins.
We could only advise people to hold if they're holding potential and multi-purpose coins.
As for me, we could gain a good profit depending on the coins that we're holding because no matter how long wait, if the coin has no future, we would still end up waiting for nothing.

What can we expect from a shitcoins in long term? Its totally useless and should not be added on your wallet. I don’t want to convince someone to hold, though I encourage them to do so but i don’t want to force them. I think its better to educate people about  the difference of holding and trading, by that they can decide on what game strategy they will use.

[cryptjh]

Yes, HODLING happens in Crypto but only for Bitcoin and some big coins.

I know for sure If someone has invested accidentally in a BAD/SCAM project they will never HODL.

This article from Bloomberg clearly demonstrate how much effort and money they are Investing to create FUD in Crypto Universe.

Holding is natural phenomena in any Financial investment be it STOCKS, COMMODITY and If I am correct FOREX.

For me, the only coin worth holding is bitcoin, every other coin, including top20 altcoins, should be sold as fast as possible if you decide to hold altcoins then at least sell some of them when you are in BTC profit, so you get your original bitcoins investment return!

[bandungan]

The game industry for blockchain projects is one of the most popular industry. Payment by cryptocurrency, using blockchain as the basis for creating a gaming platform with an accelerated system of work. I heard about such cases, but did not even know that some projects are ready to pay their users with cryptocurrency for the game or mining.

the game industry is easy to get investors because as time develops games become an entertainment need for many people. so I think the game industry combined with cryptocurrency can be the best now.

[bhabygrim]

Well it is true we could only convince them to hold and it is the same game in crypto,
The only difference is we don't know exactly how many people are playing and how could we convince them?
We couldn't really convince everyone to hold since most of us are relying on it for our expenses.

[Haunebu]

I have no interest in such a game op. You failed to mention a huge problem here in this scenario. You are basically encouraging people to treat crypto as an asset instead of a currency by HODLING which might increase its value with time, but it won't be treated as a currency anymore.

This is a free market. Everyone are free to do buy and sell whatever coin or token whenever they want, but we need to try and help people adopt BTC as a currency primarily and asset secondarily which is why I would never play the game that you talked about.

[traderethereum]

I think no need to convince people to hold their bitcoin because they have their own choice.
What we need to do is hold our bitcoin and if they want to sell their bitcoin, then let them choose that way.
I already convince many people but only a few of them that still hold their bitcoin until now, the rest of them cannot be patient because they think that they are losing their money without having a chance to recover in the future.
I said to them that will be a mistake if you sold your bitcoin right now or before because now the bitcoin price has started to rise again and you might lose the chance to recover your losses.

[Anyobsss]

I think no need to convince people to hold their bitcoin because they have their own choice.
What we need to do is hold our bitcoin and if they want to sell their bitcoin, then let them choose that way.
I already convince many people but only a few of them that still hold their bitcoin until now, the rest of them cannot be patient because they think that they are losing their money without having a chance to recover in the future.
I said to them that will be a mistake if you sold your bitcoin right now or before because now the bitcoin price has started to rise again and you might lose the chance to recover your losses.

You will not win the hodler game if you don't convince other people to hold their coin. Though you have a point but it's just goes against the principle of what the OP said.