What are people doing except holding Bitcoin?

[KingsDen]

Others who hope to get rich by investing $500 or $5,000 forget that they don't get any younger year by year. By investing all their money in investments and expecting a profit, many do not understand that their whole life passes by them, and they may become rich only at the end of their lives. 
It's a little sad.

Words on marble. Lovesmayfamilis got me here...I literally read this more than 5 times and got emotional, no I got sad maybe I was poked by reality.
It is indeed sad that some will have to struggle throughout their lives, takes risks, make investments and not knowing that they will become rich only at the end of their lives. Some are already wealthy from birth, those birthed with a silver spoon. The saddest of them all is those who will climb the lather from the bottom to the top, only to realise that they are on the wrong wall - Jfk .
The life is a mystery

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[qwertyup23]

~

There are also traders to wherever exchange they preferred to trade. Could be anywhere and they're actively trading top coin.
I was a day trader back in the days around year 2018-2019, although not rich like the OP mentioned, I can relate to some points in here aside from just "holding a Bitcoin".

In the harsh side, there could have been possibly a holder of Bitcoin that got locked out of their wallet as they did not remember their private key along with their password. I can hear the regrets.

Personally, I treat my BTCs as an investment that I can always convert to cash whenever I need it or if the situation calls for such desperation. BTCs are too precious to be converted to cash due to their inflationary nature. Given that only a limited number of BTCs are in circulation, you can definitely expect that its price will continue to increase as time passes by.

I envisioned that my BTCs will work as if I own a business- where money moves daily (increase/decrease) without the need of doing anything in particular.

[JoyMarsha]

The only thing that the majority of us in crypto knows is to buy and hodl bitcoin that's all. The other sole purpose of it is not on our agenda. I think that is not the main reason for Satoshi creating bitcoin. There is more to bitcoin than hodl. You can store your assets in bitcoin.

Truly bitcoin has helped many to be millions, just by hodl and selling it when the price skyrocketed. The strategy of buying low and selling high

[Russlenat]

Others might have to re-invest their bitcoin profits elsewhere like stocks or real state, sort of diversify your portfolio. WO thread as one of it's kind in this community, maybe some of them are rich already and just continue to accumulate bitcoin overcome. Someone mentioned gambling, yeah, a lot of crypto based online gambling are popping because they know it's a multi billion dollar business and regardless of the market sentiments, crypto gamblers will continue to gamble.

The most common way to make profits in bitcoin is through long term hodling. However, some people also prefer to use their bitcoins to finance into other investments like stocks or bonds, or use it to build a real-life business that will also capable to generate an income consistently. And yes, others also gamble it like crypto gambling since it has also potentials for huge returns.

[TelolettOm]

Some facts are only applying to rich people and not aspiring people.

I am sure that those lists are only some that may happen probably and may not also happen in somebody else.
WHat makes an investment in Bitcoin important to some people moreover to rich people is not for those things. They prefer to invest in Bitcoin because they want to put their money into a certain worthy assets for the future. The mindset of rich people is not doing those lists only, their mindset is more to the future investment that will give them not only profits but also the trust of worthy investment, worthy assets, and also the power. If they only want to build some house and others like in the lists, they may have had it far away before investing in Bitcoin

[Mahanton]

Others who hope to get rich by investing $500 or $5,000 forget that they don't get any younger year by year. By investing all their money in investments and expecting a profit, many do not understand that their whole life passes by them, and they may become rich only at the end of their lives. 
It's a little sad.

Words on marble. Lovesmayfamilis got me here...I literally read this more than 5 times and got emotional, no I got sad maybe I was poked by reality.
It is indeed sad that some will have to struggle throughout their lives, takes risks, make investments and not knowing that they will become rich only at the end of their lives. Some are already wealthy from birth, those birthed with a silver spoon. The saddest of them all is those who will climb the lather from the bottom to the top, only to realise that they are on the wrong wall - Jfk .
The life is a mystery

What is making you sad? Life is not balanced so we just have to accept it the way it comes because we might not get what we want at a particular time but with more effort things might latter works for us at the end of the day which we not need to stress ourselves on pondering on things that may give us a bad motives about live. Consistent working and adm smart work will bring the right spirit to us to reverse negatives.

Cant really be avoided on sometimes that we are being shackled out by negativity and would pondering about those reality in life but its true that we should not really make ourselves
been affected by these things yet this would be the reason that it would really make us stop on doing things that we do or stop on thriving for the best.
Dont let these emotions would control you or stop on the things that you do tend to achieve.Instead other people hold up bitcoin they do jump into other venture
and this is where they do consider out on investing with altcoins.

[Sanitough]

Surely, my list isn’t complete. You can always add a comment and present more facts.

There's one you didn't add about what people are doing with bitcoins asides just hodling, people who gamble online on casinos that do no have a direct funding option via their fiat bank account, fund their account via crypto using their bitcoins to fund their online casino accounts so they can continue gambling there.

That's also possible as bitcoin can be used to finance in casinos and change it to fiat. But if you're into crypto gambling then there's no need to convert it to fiat. However, bitcoin can be a good retirement gift since its value will definitely grow in time. Or bitcoin can be used simply as an investment for long term hodling since that will also ensure large profits ahead.

[teddybear]

Bitcoin is very famous already and Bitcoin gained so much in value (for example Bitcoin was around 250$ in 2014 and is now (2022) at 40,000$).
As a result, many people are rich from Bitcoin now and some are rich enough to cash out a bit (like USA where it’s very common to cash out Bitcoin because Bitcoin is adopted, especially in California).
Being and getting rich from Bitcoin is not a self-fulfilling prophecy and people need to work hard for it: HODL
In gratitude for it, we can see common patterns.
Very likely, Bitcoin will continue to be a formidable store of value like Gold and Bitcoin will deliever a good competition against Gold as a store of value.

But what are rich Bitcoin people and aspiring rich Bitcoin people doing else except Bitcoin?
Let’s collect some facts!


- Owning a large house and a pool
- Large glass front in direction of your pool
- Watering your large garden extensively
- Your garden is always in top style
- Living in a mediterranean climate zone (or similar warm areas, like California (or Florida))
- If you don’t own a large house and a pool, you are living on a rooftop (including a pool)
- Advocating for a free market
- Owning an American Flag (‘Murica!) and supporting it
- Good dining every week
- Lambooo
- Your car has a HODL! plate
- Owning a separate room for observing Bitcoin (TA)
- Owning multiple large screens to observe Bitcoin
- Owning or renting a yacht
- Posting Memes on WO
…

Some facts are only applying to rich people and not aspiring people.

Surely, my list isn’t complete. You can always add a comment and present more facts.
Have fun getting rich!

wagmi
 

Five Important things that What are people doing except holding Bitcoin......

> Unlike other financial instrument, it does not derive value from any asset.

> It is extremely volatile and gets impacted by even some tweets.

> Regulating it is a very difficult thing and therefore most countries are not ready to accept it.

> Unlike other financial instruments, where you can seek redressal from authority for any loss, you can't go for crypto.

> If one takes India into consideration, RBI has refused to accept this as a legal tender and RBI is bringing a bill to ban it.

[Japinat]

Also the rich keep buying even when price keeps dipping. Those who took advantage of Bitcoin prices from 2010 till 2014 don't need to do much to stay rich all the need do is hold and invest in other start up projects that has good proposals and a very clear white paper. Real estate and Agriculture can also be another good point to channel some profit made from holding Bitcoin

They keep buying coins not because they just wanted to do it but because it's the right way to do to get more profits especially when the market is dipping and to maintain your status whether it's publicly or secretly. Buying and hodling are one of the many proven ways to gain profits in the future and that same profits being made from here on can be used to invest in other things like real estate or other assets to keep your money growing passively before buying lavish things.

[The Cryptovator]

Everyone has a personal life besides crypto life. So we don't know who and what to do except hold Bitcoin in real life. But virtual life should hold Bitcoin and find a way to increase the Bitcoin portfolio. So when again the bull market comes we can get good benefits from there. Likely become rich though crypto isn't quick rich method.

[lalabotax]

Definetly the only way to hold and be at peace is to have another sources of income and not to depend solely on trading, because bitcoin is gradual process and its the future. So let's trust the process

Of course, we can't rely on trading and investing in Bitcoin only. There is no guarantee to take profits in both trading and investing, we should have a job in real life to fulfill daily or monthly needs. Sometimes we fail to get profits in trading, while we must wait for several months or even years to earn profits in crypto investment. If we have no regular income from a job in real life, how do we fulfill our daily necessities? Don't forget to think about this matter.

[ultrloa]

Definetly the only way to hold and be at peace is to have another sources of income and not to depend solely on trading, because bitcoin is gradual process and its the future. So let's trust the process

Of course, we can't rely on trading and investing in Bitcoin only. There is no guarantee to take profits in both trading and investing, we should have a job in real life to fulfill daily or monthly needs. Sometimes we fail to get profits in trading, while we must wait for several months or even years to earn profits in crypto investment. If we have no regular income from a job in real life, how do we fulfill our daily necessities? Don't forget to think about this matter.

Maybe that will be good for us if we want to secure ourselves financially since we don't know what will happen to us if market dumps. But if your crypto earnings can give you huge profit I think much better if you drop your job which eat your time since for sure this one bothers your productivity on your cryptocurrency journey. Much better you use your profit to build a business which can maximize your time, for sure from this it will be more productive to you since you are free man and can ablw to generate money from bitcoin and to your business.

[sunsilk]

It is like not just owning bitcoin but also being an actual businessman and investor in some other assets. That's what it should be and that's the real diversification that one is suggesting to us.

Owning houses for rent and earning from its passive income.

And as you earn from it, you're the one to decide whether you'll reinvest that money or you'll use it for spending in anything as you wish.

[Stalker22]

You won't believe what rich Bitcoin people are doing besides being rich Bitcoin people!

They are advocating for Bitcoin.
They are writing books about Bitcoin.
They are buying some more Bitcoin.
They are investing in new cryptocurrencies, because why not?
They are risking it all on some weird shit...

[Yamifoud]

Might some of these holders use their extra money to do trading while waiting for the perfect time to sell? Some might just do other business and leave the market for a while in order to have some peace of mind. And in this way, we prevent having stressful life while looking at the market chart declines. So, instead of checking the market daily, why not make ourselves busy with other stuff and enjoyed life?

For sure there are several ways to earn profit from different kind of investments possible. Not all people are into this "crypto craze" kind of investment, especially to those older generations. They would be more into stock market( not to generalize). Also in this industry, there are many ways to diversify your assets such as thru gambling (not really advisable), trading (as you've mentioned), staking, and the likes.The only goal is to earn profit. I even have a friend who functions as an 'exchanger' thru p2p to earn, I think he earns from his 'fees' or additional charges he puts in transactions. Small or huge movement; that won't matter as long as you are happy with what you are doing while earning ofcourse.

It was so-called "satisfaction" - in fact, some people are too greedy and not even satisfied with earning $100 a day but that is their life and they choose to be like that just like investing in Bitcoin or doing something outside crypto. As long as it was legal, it was a good way of earning a profit whether it was small or big because what is important now is we find a way to survive in the current situation as inflation is really affecting us.

[Davidvictorson]

Some facts are only applying to rich people and not aspiring people.

Surely, my list isn’t complete. You can always add a comment and present more facts.
Have fun getting rich!

Most of the points on the list, I agree with. Since the majority of wealthy individuals I know are quite charitable, I believe that something important from the list is missing: wealthy people also donate bitcoin to deserving causes both within and outside of their own society, such as some underdevelopedAfrican community.

[Zlantann]

But what are rich Bitcoin people and aspiring rich Bitcoin people doing else except Bitcoin?
Let’s collect some facts!

Most people cherish living secret lives like Bitcoin investment because of its anonymous feature. Some are living normal moderate lives and even neighbors, friends and extended family might not even know they are rich. They contribute secretly to charity and to the development of their community. They don't live in a big house or drive the best car even if they can afford them. They just live simple but fulfilled lives. Living a modest life is the best means of not attracting criminals and living a free life without having to move around with security. And Bitcoin gives the opportunity of hiding your wealth from the eyes of the public. 

Words on marble. Lovesmayfamilis got me here...I literally read this more than 5 times and got emotional, no I got sad maybe I was poked by reality.
It is indeed sad that some will have to struggle throughout their lives, takes risks, make investments and not knowing that they will become rich only at the end of their lives. 

Although getting rich at the end of one's life is not an experience anyone desire to have, it is not that bad. At least you are far better than almost 90% of the world's population that departs without achieving their aim of becoming rich. Although keeping riches for the next generation is not a guarantee that they would succeed keeping something for them can be a good startup that can aid them to become successful. There was a billionaire in my country that said the greatest regret of his life is becoming rich when he was already old because he now lacks the strength and taste to enjoy his riches. But his children are really doing well with the fortune he left behind.

[Nrcewker]

they will probably buy it back after selling it above $60k and I know they will wait for the price below $20k to buy it back, usually people who are long in bitcoin and hold it are not that easily lulled by their wealth throwing their money away, of course they will spin the money them to multiply profits

The rich people makes money out of money.
So definitely they have bought sufficient Bitcoins in this bear market.
For these cunning reasons they have become rich. Whereas a normal person will just hold his money, but a rich and cunning person will anyhow try to make more money from Money.
Bitcoins have made this easier for these rich brats and for this now they are leaving their lives more lavishly.

[Despairo]

I don't think there's a person who only rely on Bitcoin investment without doing anything in their life, at least they're an employee on someone company. For people who're using Bitcoin as store of value, they will work to get money and put most of his money in Bitcoin because fiat value always decrease every year. They would have a business, they would have another investment, they might become an influencer and get many audience for his referral reward etc.

[ethereumhunter]

What is called investment is a kind of savings for the future and they are still doing something so they can buy their daily needs. Those who work elsewhere and earn a salary set aside some of their money to invest in bitcoin. It's the kind of investment they've made in the real world. The difference is that bitcoin does not have a physical form like previous investments. While rich people can have whatever they want and if they have bitcoin, they are adding to their wealth list.