All of you Bitcoin Hodlers are mentally ill - *Must Read!

[KnightElite]

Patience is required while doing holding but the problem is people still holding their bitcoins even the market is now proving that they are wrong. What I mean is they have a lot of hope and it is the reason why their portfolios are gradually declining.

[Diirtmaan]

This entire bitcoin space breeds greed, envy, fear, and lust. All you of hodling bitcoin are mentally ill. You have been conned into thinking bitcoin is going to the moon. It's not. Charts show bitcoin is slowly bleeding to death. Bitcoin is no different than Bernie Madoff's Ponzi scheme where new bag holders are needed to pay off the earlier investors.

Mass adoption of bitcoin will never occur. Sorry! The price is far too unstable to be used as a form of payment. Businesses would get crushed if they took bitcoin as a payment due to the wild price fluctuations. Then you have to worry about the IRS on your ass to pay taxes. Is hodling worth the stress? Absolutely not. That's why women laugh at bitcoin and think it's a scam. Notice the crypto space is all dudes?

Say what you will about the US dollar, but it's still backed by a democracy and the most powerful military in human history. Accepted everywhere. Bitcoin is backed by absolutely nothing. Gold is backed by 5000 years of history of holding value, and is recognized worldwide. Women love gold. It's beautiful and tangible. A real asset worth owning.

I'm sorry, but you HODL'ers are mentally ill and are going to get crushed when bitcoin collapses in the coming recession. Bitcoin is going to get dumped fast as people need money to pay bills and survive. If you bought bitcoin early and already cashed out with gains, you are a wise investor and have my respect. If you're still hodling, your finances and reputation are on the line here. A reputation with your friends and family you can never get back. Don't risk it. Dump your bitcoin now before it wipes you out!

Wow this topic attracted about 3,000 views on Bitcoinalk. You consider Bitcoin as a Ponzi scheme but I actually don’t think that the sphere of cryptocurrencies, in particular Bitcoin, is a pyramid, because the pyramids are built on an idea to get their creator all the benefits from the people involved, right? Then tell me, what is Bitcoin's profit if this is a Ponzi scheme?

[thirdprize]

Hodling is a bit like buying a sports car and keeping it in the garage and not driving it.  Or buying a Picasso and putting it in a bank vault where you can't see it. If Satoshi had wanted to invent a new way of investing then he would have.  Instead he invented a new method of payment.  Hodlers are killing bitcoin.

[Betwrong]

How much more money are you HODL'ers prepared to lose? And what point do you say, I'm done and cash out?

I feel like you are trolling, but I'll answer seriously still. No one in their right mind will cash out everything at this point. Why? Because it's not for the first time we can see this price, around $7k, for 1 BTC. In November-December 2017 the price went from $7k to $19k. In April 2018 the price went from $6.6k to $9.7k. In July 2018 the price went from $6.6k to $8.2k. In May-July 2019 the price went from $6k to $12k. What are the reasons to think that this pattern won't happen again?

[Palider]

I'm sorry, but you HODL'ers are mentally ill and are going to get crushed when bitcoin collapses in the coming recession. Bitcoin is going to get dumped fast as people need money to pay bills and survive. If you bought bitcoin early and already cashed out with gains, you are a wise investor and have my respect. If you're still hodling, your finances and reputation are on the line here. A reputation with your friends and family you can never get back. Don't risk it. Dump your bitcoin now before it wipes you out!

And your only reason is this? Bitcoin has been supplying my needs for a long time, and I can say that almost all of us here convert bitcoin for our daily needs but the price of bitcoin is still rising. We also can't ruin our reputation with our friends because if we teach them right they know who to blame is themselves.

[maianh09]

They did nothing wrong but mistakenly thought the market would go up forever. In 2017, the value of bitcoin and altcoins grew very high. Bitcoin increased in value by 20 times. TRX increases 1000 times in 1 month. If you are a normal person, what can you do for your assets to achieve such a profit? Those who invest in cryptocurrencies are those who believe the market will return someday very close and they We have the right to believe that the market will recover soon in the next 2-3 years and possibly next year. In this market nothing is impossible.

[annylawrence]

Aren't you part of the people that are working against bitcoin with all your unnecessary fud? So simply because bitcoin is going down this period means that bitcoin is slowly dyeing? I think that you have a very wrong idea about that because the funny thing is that chat analysis already shows long time that bitcoin would be dropping to $6000 which I was even already prepared for and it is at that point I  even intend buying bitcoin, because that is when this same bitcoin you think is bleeding to death will start rising, and watch it that when bitcoin fud like this starts going round the whole social media is when bitcoin prepares to moon.

So I would not be surprised if from now on, I even start seeing bitcoin rising again. If you say that we are mentally hill, we agree, let us carry our cross which I don’t think that is any of your business. 

[Daffadile]

The problem is the people who holding bitcoins have high hope, they still holding bitcoin even the market is bearish. They do not know how to do cut loss and it is the reason why they are experiencing losses.

What loss? Most of us long time hodlers bought BTC below 1k. Wake up man! Bitcoin is 10 years old and only about 3 years trading for more than 1k USD. I had Bitcoins when they were worth 300 USD per coin, what cutting losses are you talking about?

One more thing. Short term price does not matter! We are here for bitcoins not for their value in USD.

Some poor bastards tried to cut their losses at 4k USD not long ago and a month later Bitcoin was worth more than 10k. Any good advice for them?

This is what I want to know. We have had the value of the bitcoin paid back to us a long time ago and now we are reaping the reward. I feel for people who sold at 4k. It did stay down at 4k for a long time even I worried.
I still held. I just spend more bitcoin when the price goes up and then I work more when the price is low to replace what I have used.

[wxa7115]

How much more money are you HODL'ers prepared to lose? And what point do you say, I'm done and cash out?

That is up to each person to decide and there are many different opinions about it, but at least I think that many of the long term holders will agree that this is not the right moment to sell their coins and get out of the market, the price is still very low, it could have been better to cash out in July when the price was above 13000, but there are others that do have a goal and as soon as bitcoin reaches that goal they will sell.

But there are other holders that question whether or not it is even a good idea to sell your coins, if bitcoin becomes as successful as projected there will be no need to cash out at all and we could use our bitcoin freely and anywhere we want.

[Xxmodded]

Patience is required while doing holding but the problem is people still holding their bitcoins even the market is now proving that they are wrong. What I mean is they have a lot of hope and it is the reason why their portfolios are gradually declining.

Before investing with bitcoin or altcoin we have know what risk, many people already know bitcoin can increase investing with higher profit but never ready when bitcoin come down and have lower price, how ever we need for waiting and become holder after our assets investment have lower price, its can be mentality to know what have to do when assets have lower price.

[Betwrong]

How much more money are you HODL'ers prepared to lose? And what point do you say, I'm done and cash out?

That is up to each person to decide and there are many different opinions about it, but at least I think that many of the long term holders will agree that this is not the right moment to sell their coins and get out of the market, the price is still very low, it could have been better to cash out in July when the price was above 13000, but there are others that do have a goal and as soon as bitcoin reaches that goal they will sell.

But there are other holders that question whether or not it is even a good idea to sell your coins, if bitcoin becomes as successful as projected there will be no need to cash out at all and we could use our bitcoin freely and anywhere we want.

I think, in this regard, it's interesting to explore what is the difference between buying something with BTC and simply cashing it out. It's obvious that there is a chance that the seller will cash out a big part, if not the whole amount, right after the trade is done. But can we estimate how big that chance is? In my opinion, in most cases, seller will keep at least a part of the amount in BTC, in hopes of cashing out when the price is higher.

[blandana]

Everyone replying here flaming the OP needs to reconsider what field they're in.  Talking rudely about someone who is giving people advice trying to help people isn't ok.  The first few responses I saw were uncalled for and it's obvious this forum needs an attitude readjustment.  

I don't care if you're "legendary"  that just means you had more time to be here than anyone else.  
Don't expect me to trust a single person who talks bad about posters like this.  It's not helping this website's reputation and it's not helping holder's reputations either.  This isn't some game of attention.

If you have something honest to say, sure, but if you're a douchebag to people like this I'm reporting you to the admins.

[Zionatin]

Some poor bastards tried to cut their losses at 4k USD not long ago and a month later Bitcoin was worth more than 10k. Any good advice for them?

As always - go against the tide, during panic sells you buy, when greed blinds people you sell. And buying when the breakfast tv is fuelling the hype is the worst decision you can make (unless you will keep BTC in your wallet until the next bull market with new all-time highs takes place).

Of course this is not the most effective way of investing in BTC, but it works if you have little trading skills.

Don't worry if they sell. It is best they are gone. We need people who love and support bitcoin no matter what the price is. YOu can't just be in it for the money. Bitcoin has performed so well there is not much more you can ask for. Still, people always want more and are never happy with what they have. Greed like you say. Also being in foolish stories that they might be the next bitcoin billionaire. I really don't know what this OP is talking about. Sounds like FUD to me. You cannot argue with a person like that so why try?

[Savemore]

Identify what kind of hodler are you? Are you the one who hold bitcoin in a long time and you will keep holding it if the market crashed? Or are you the type of the hodler who I can say that a trend follower where you will only hold bitcoin if the market is bull. A trend follower is a type of hodler that we should do because the chance of winning is high. As my personal experiece, I lose money in holding due to the bearish market and it is now not good to hold bitcoin if the market is in downtrend.

[Charles Norwood]

Bitcoin is in terminal decline. Sorry to tell you this.

[Edraket31]

Bitcoin is in terminal decline. Sorry to tell you this.

You are entitled for your own opinion, but better to share some info here to help us understand your insights, don't just create FUD and tell people that Bitcoin will die, because they already know what they are doing and as we can see that the number of users still continuously increasing, so I doubt that you are telling the truth, but you are just here to manipulate weak hands.

[cutesgirl]

Holder mentally have been strong because many investor not ready when bitcoin have lower price, they will frustrated when looking bitcoin have lower price because buy bitcoin with higher price, just few people and investor have ready for investing with bitcoin or altcoin and ready faced with moment when bitcoin have lower price because every investing have risk.

[imutlinda]

Holder mentally have been strong because many investor not ready when bitcoin have lower price, they will frustrated when looking bitcoin have lower price because buy bitcoin with higher price, just few people and investor have ready for investing with bitcoin or altcoin and ready faced with moment when bitcoin have lower price because every investing have risk.

mentality is indeed important when making an investment, because when we do not have a good mental state, there can be losses when investing. because in investment, especially crypto which has an unstable price, definitely requires a stronger mental than investing in other fields

[Savemore]

Holder mentally have been strong because many investor not ready when bitcoin have lower price, they will frustrated when looking bitcoin have lower price because buy bitcoin with higher price, just few people and investor have ready for investing with bitcoin or altcoin and ready faced with moment when bitcoin have lower price because every investing have risk.

When the price of the bitcoin is still not reached thousand dollar per each, I can say that holding is good. Today there are many hodlers who still have enough patience even though they lose a lot of money from bitcoin. I know it is hard to let go into something that you have high hope. Hodlers should have limitation and they should be aware on cut loss for them to minimize their losses.

[cryp24x]

We are Bitcoin enthusiast but we are not hurt if you wanted to hurt us. But I guess, you need to understand how Bitcoin works and Bitcoin hodling is common and we just need to encourage the Crypto people to circulate or spend their Bitcoins so that Bitcoin will be healthy and active. It is also the same as fiat sometimes when in terms of money circulation.