Is it easier to HODL if you are already rich?

[jossiel]

the most appropriate sentence in my opinion is "it's easier to hodl if you are good at managing finances"
10% of poor people who are in crypto have proven themselves that they can change lives by just hold their BTC

while others will immediately sell the BTC they get when bear market or bull
the ability to manage money is important because we don't know when the dry season (bear market) will come so leave your needed funds and your BTC stock for as long as you can

Great analogy and it's true that despite the situation of those holders before they get in, as long as they're good in handling their finances, they can live a better life.

But the subject is all about being easier in holding and that gives the advantage of being rich already. You can keep as much as you can while not having any problem when the market dips as you can still hold it and add more which makes you not forced to sell if you're in need.

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[Cherylstar86]

the most appropriate sentence in my opinion is "it's easier to hodl if you are good at managing finances"
10% of poor people who are in crypto have proven themselves that they can change lives by just hold their BTC

while others will immediately sell the BTC they get when bear market or bull
the ability to manage money is important because we don't know when the dry season (bear market) will come so leave your needed funds and your BTC stock for as long as you can

Yes absolutely, you can also say "it's easier to hodl if you have a good strategies and techniques". Poor people have proven themselves that they can change a lot because of cryptocurrency as long as your patient, your good in research or else you have the knowledge about it. They have proven themselves that by just holding their coins, it changes their lives, while other's panic to sell everything they have during bear market or bull run. It is easier to rich people to hold their coins because they don't have to worry something. Some of those rich people have the knowledge already which makes them become richer. But, above all managing those money you have is very important.

[verita1]

OP's example is clear evidence of someone who has lost faith in bitcoin or were new investors. Because anyone who has invested in bitcoin and had hold in at least a year does not sell it. It could also be the case that the couple needed the money.

Every day we realize that we need bitcoin, I maintain that conviction, even though I invest in another coin, I support bitcoin because together we contribute so that more people do not lose faith or others also believe in it.

[uneng]

It has nothing to do with being rich or poor. The rich could aswell be taking big risk if all his/her money is invested in Bitcoin at once. I think what is important is to invest part of your money or what you can afford to risk/lose, whether you're rich or not. Don't put all your eggs in one basket in an uncertainty world.

The point is that the rich have another sources of income or more money stored in their accounts. We could compare it to ammo. Let's say a man has tons of ammo and don't need to worry about aiming the target, because he has enough to shoot in all directions and still hit it without worries. On the other hand, another man has just one bullet. so he has to make very good use of it, being strategical, calm and patient to hit the target and not waste his only chance.

That is clear the first is in a much better position than the second, although it's not impossible for a poor person to be also benefited by bitcoin. It's just more challenging.

[ROSERTY]

For the rich, it is easier to hold Bitcoin for a long time. They use funds other than what they need to invest and obtain additional income.
For ordinary people, they need to consider the funds they need in life, and only invest in addition to the ability to meet their daily needs. In investing in Bitcoin, if funds are needed in an emergency, they must sell Bitcoin even if there is a loss.

[cabron]

For the rich, it is easier to hold Bitcoin for a long time. They use funds other than what they need to invest and obtain additional income.
For ordinary people, they need to consider the funds they need in life, and only invest in addition to the ability to meet their daily needs. In investing in Bitcoin, if funds are needed in an emergency, they must sell Bitcoin even if there is a loss.

Easy for them to hold because there is no pressure to sell for food but for someone who depended on the growth of BTC, they will eventually sell before the price hits the ATH. There are some who could survive holding while they work harder to support themselves for them not to be able to sell their coins I guess I have tried this myself to make sure I'm able to save more BTC than sell all of them.

If you have the money like the rich, you would probably prefer to trade as well. Maybe a percentage of what you hold.

[Xampeuu]

For the rich, it is easier to hold Bitcoin for a long time. They use funds other than what they need to invest and obtain additional income.
For ordinary people, they need to consider the funds they need in life, and only invest in addition to the ability to meet their daily needs. In investing in Bitcoin, if funds are needed in an emergency, they must sell Bitcoin even if there is a loss.

Easy for them to hold because there is no pressure to sell for food but for someone who depended on the growth of BTC, they will eventually sell before the price hits the ATH. There are some who could survive holding while they work harder to support themselves for them not to be able to sell their coins I guess I have tried this myself to make sure I'm able to save more BTC than sell all of them.

If you have the money like the rich, you would probably prefer to trade as well. Maybe a percentage of what you hold.

it looks logical, but I think it depends on the distribution of finances on each person. but indeed the rich are more profitable in holding bitcoin. but ordinary people can also be calmer in holding if what is used is cold money, but indeed with different amounts of capital between rich people and poor people

[Rruchi man]

One of those successful cases of bitcoin hodling was a friend of a friend. They (a couple) took an important risk by investing 60k of a dismissal compensation into bitcoin and making a x100 on it before selling half. I do not know what they did with the rest. Now, these people were not rich, they took an enormous risk compared to their total wealth. They had to really believe on the project and pass though some of bitcoins usual "tests of faith".

For someone with let´s say, a net worth of 1M USD or more plus house, hodling 60k until they became 6M would have been not that much of an stress. Do you think it was easier to benefit economically from bitcoin if you were already a bit up in the ladder?

For someone who is already rich, though the possibility of HODLing for a long time is there, it is not like it is completely easy and achievable. I personally believe that HODLing is matter of discipline.

For someone who is rich, he/she might decide to put away some money into crypto and forget about it, because there is enough money in circulation for them to settle any pressing needs or concerns that comes their way. The case is different for someone with little physical finance and a pressing problem or concern who has a fat crypto balance.

[Sithara007]

OP's example is clear evidence of someone who has lost faith in bitcoin or were new investors. Because anyone who has invested in bitcoin and had hold in at least a year does not sell it. It could also be the case that the couple needed the money.

Every day we realize that we need bitcoin, I maintain that conviction, even though I invest in another coin, I support bitcoin because together we contribute so that more people do not lose faith or others also believe in it.

It is a very difficult situation. When you are in dire need of money and you don't have any other asset other than Bitcoin, you have got two choices - either sell some of your BTC, or take a loan. A lot of people don't prefer the second option, because it will push you deeper and deeper in to debt. If I face such a situation, then I will also select the first option. Because we don't know how long the bearish phases for BTC can last (for example, the one in 2014-16 lasted for almost three months, before a new ATH was achieved in 2017.

[AniviaBtc]

I don't think so, because hodl depends on the knowledge, patience, and discipline of a person who are trusting the coin and the market movement.

You're probably thinking that it is easier for them because they have separate funds for their essentials and needs.

But investment doesn't work with that mindset, everyone who invest are at risk and they are also making strategies and predictions in the market.

[dothebeats]

It is somewhat easier to invest and make your money work for you when you're already rich but that still depends on your knowledge. The couple that you mentioned understood the risks at the time, and gambled with the money that they have believing that it will be worthwhile. Had they not known better, they would have sold in the middle of the crashes and just lose money, but instead they endured and held strong from the pressure to sell at a loss.

[LogitechMouse]

For someone with let´s say, a net worth of 1M USD or more plus house, hodling 60k until they became 6M would have been not that much of an stress. Do you think it was easier to benefit economically from bitcoin if you were already a bit up in the ladder?

I think that most of us will agree that it really is easier to HODL if you have many money.

Lesser stress. This is what the rich are thinking if they are investing from Bitcoin compare to those average and poor people. There is this "What if my investment goes down, what will I do" thinking that it will give stress to them compare to the rich people where they will just say "I don't care if my Bitcoin portfolio goes up or down. I'm not affected by that much since I have more money to use here".

[perfect999]

One of those successful cases of bitcoin hodling was a friend of a friend. They (a couple) took an important risk by investing 60k of a dismissal compensation into bitcoin and making a x100 on it before selling half. I do not know what they did with the rest. Now, these people were not rich, they took an enormous risk compared to their total wealth. They had to really believe on the project and pass though some of bitcoins usual "tests of faith".

For someone with let´s say, a net worth of 1M USD or more plus house, hodling 60k until they became 6M would have been not that much of an stress. Do you think it was easier to benefit economically from bitcoin if you were already a bit up in the ladder?

It is easier to hold compared to anything, period. I mean trading and what not causes so much commotion but if you are not good at it you are not going to enjoy any profits from it. When you are holding, all you have to do is nothing, just keep on waiting until the price reaches a level you are fine with and that is going to be fine. I personally have done a lot more profit by just buying and holding than any other method and that is going to be basically the case for a long time, it is not going to change for me nor anyone else.

However when you are richer you have the chance to spend 100 million on long term investing while spending a million dollars on smaller cap stuff, can buy 10k dollars worth of small stuff 100 times over, and that is why I believe holding is easier when you are not rich, because you do not have a room to work with hence keep on holding.

[Fortify]

One of those successful cases of bitcoin hodling was a friend of a friend. They (a couple) took an important risk by investing 60k of a dismissal compensation into bitcoin and making a x100 on it before selling half. I do not know what they did with the rest. Now, these people were not rich, they took an enormous risk compared to their total wealth. They had to really believe on the project and pass though some of bitcoins usual "tests of faith".

For someone with let´s say, a net worth of 1M USD or more plus house, hodling 60k until they became 6M would have been not that much of an stress. Do you think it was easier to benefit economically from bitcoin if you were already a bit up in the ladder?

It's rather simple and obvious to answer this question. Often when you are poor or sometimes even middle class it is extremely difficult to save any spare money from your monthly expenses. Even when you are able to save money you are one car breakdown or household disaster away from needing to draw on those savings. Few in those two groups ever even think about investing like someone with a lot more money would be able to do. When you are rich, your money is growing every single day through things like stock market investments - without you having to touch a single thing. The rich are also able to diversify a lot more which can act as a buffer and shock absorber if one kind of investment goes wrong, also allowing them to have much longer time horizons where they may not be tempted to take profits too early.

[oHnK]

I feel the same too, because my investment position is just as my saving. I dont think to make realize gain and even I got lose until 50% of my portfolio, I dont do anything. In my mindset, as saving I dont need do anything because there is no urgent need for short term.
We all know that if dont have trading skill its better to choose as investor in long term.

[Ngemmeng]

For the rich, it is easier to hold Bitcoin for a long time. They use funds other than what they need to invest and obtain additional income.
For ordinary people, they need to consider the funds they need in life, and only invest in addition to the ability to meet their daily needs. In investing in Bitcoin, if funds are needed in an emergency, they must sell Bitcoin even if there is a loss.

That's right, that's why it's not recommended to use an emergency fund for bitcoin investments. for ordinary people like me collecting bitcoins from airdrop and bounties is the safest investment because it does not require large capital. investing in bitcoin is not the same as investing in general (land or gold) because the price of bitcoin has a very high fluctuating rate.

[kapalmabur]

For the rich, it is easier to hold Bitcoin for a long time. They use funds other than what they need to invest and obtain additional income.
For ordinary people, they need to consider the funds they need in life, and only invest in addition to the ability to meet their daily needs. In investing in Bitcoin, if funds are needed in an emergency, they must sell Bitcoin even if there is a loss.

That's right, that's why it's not recommended to use an emergency fund for bitcoin investments. for ordinary people like me collecting bitcoins from airdrop and bounties is the safest investment because it does not require large capital. investing in bitcoin is not the same as investing in general (land or gold) because the price of bitcoin has a very high fluctuating rate.

In any investment there must be risks but for cryptocurrency investments, in my personal opinion, the risk is much greater,
of course it's all inseparable from the cryptocurrency market which is different from other markets which is very volatile as you said,
even so if we keep learning and trying I think we can be successful

[herurist]

I feel the same too, because my investment position is just as my saving. I dont think to make realize gain and even I got lose until 50% of my portfolio, I dont do anything. In my mindset, as saving I dont need do anything because there is no urgent need for short term.
We all know that if dont have trading skill its better to choose as investor in long term.

if you intend to save I'm sure you will not be here. here is not suitable to be used as a tool for saving because when talking about saving, of course the central bank and fiat are more supportive and while you are here you invest your money and call it saving? I think that's bullshit.
because it is clear when you save money here the risk is very high because here it is volatile and unpredictable and only one thing you want to achieve is profit because even if you don't admit it and think it is a bonus when you are here for a long time it is still the result of investment not savings.
and you mention you lost 50% and did nothing it's very clear because the goal is to save even longer by hodling and when the market is back to normal and even better then you can take your profit and everyone also knows and uses the same thing.

[finaleshot2016]

For someone with let´s say, a net worth of 1M USD or more plus house, hodling 60k until they became 6M would have been not that much of an stress. Do you think it was easier to benefit economically from bitcoin if you were already a bit up in the ladder?

Of course, this is an easy game for them because an ideal investment cost in crypto is just a small amount of money for them, so it makes sense for them to simply hold it until it becomes a million. You don't need to be afraid because it's only a small amount of money and you have plenty of cash in the bank, so being wealthy gives you an advantage in rapidly growing markets like crypto right now. So that's an added benefit, and of course you'll be one of the whales who can influence the market when engaging in a market activity such as selling or buying.

They wouldn't mind if the investment failed because they still have money to invest in the future. Those who already have passive incomes see cryptocurrency investment as a sideline.

[isaac_clarke22]

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On the other side, I am not even rich but I am still comfortable with my hodlings.
It depends sometimes on some people on how do they put their money into crypto, because some are still well organized in their finance.
I apply the good ol' 80/20 rule when it comes to my savings and it seems to blend well with crypto and I ain't worried a single bit in my investment/s.