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Question: What do you think is the major reason for not hodling?
Lack of means(money) to buy - 30 (58.8%)
Procrastination - 4 (7.8%)
Fear of a later dip - 9 (17.6%)
Others - 8 (15.7%)
Total Voters: 42

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Author Topic: Why are you not hodling  (Read 1115 times)
Rengga Jati
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July 05, 2023, 09:06:48 PM
 #21

At some point,  some persons who even participate in signature  campaigns and earn bitcoin  without having to buy directly, who should have been the most persons to have some good figures in their portfolios still aren't having any because most of them either withdraw this earnings to fiat to be able to make ends meet or withdraw it to solve some issues but whatever the case be, alot of persons aren't hodling currently now not because they are ignorant  or even procrastinating but I believe  one of the major reason is because they don't have to means to invest.
This might be one of the things that a lot of members here are doing, earning Bitcoins from signature campaigns. And I don't know whether the results will be converted directly to fiat and withdrawn to a bank account or holding, that is each's choice, which I believe is based on more urgent considerations. In the past, I always withdrew the entire proceeds from this signature campaign, not that I didn't want to hold, but there were needs that I had to spend and needed a lot of money, so I always converted to fiat and used the money for those needs.

But I'm very grateful because starting earlier this year, I can already control it and make a little difference. Indeed, sometimes we cannot hold all the Bitcoins we have, but at least we try to hold half or more or even all of the results of this signature campaign. At least, the holding can be targeted to meet the halving later. This may be easy for some people but not necessarily for others because everyone's needs are different. but I believe that if there is no serious need, I believe that most will choose the Bitcoin holding.

One of the other reasons why they don't hold is that maybe they do day trades to collect more Bitcoins. We know that not many people have the money to hold Bitcoin. And some of them choose trading, but make sure if they are already professional and have good skills in trading to control risk.

R


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July 05, 2023, 10:54:27 PM
 #22

Everyone may have their own unique excuse for not being able to hold Bitcoin for long time, but given that many people do not hold any of it despite having a thorough understanding of cryptocurrencies and knowing that if they do, they will eventually make a sizable profit, I may easy concluded that is due to lack of funds.

And for those who work on the signature campaign and receive payment in bitcoin but consistently convert it to fiat money, I can tell that they have issues to address, which is why they always withdraw it. The majority of the people  in signature campaign are aware of advantage of holding Bitcoin, but they are unable to do so because of possible financial difficulties.

I also observe that some people, especially new investors, who have the chance to hold but are not doing so may be due to as a result of Bitcoin market reactions sometimes. When the price of Bitcoin starts to be dumping, almost new investors panic and sell their Bitcoins instead of holding onto them and waiting for the bull run but they never have the mind to to fear.

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July 05, 2023, 11:09:14 PM
 #23

When we talk about people who participates in signatures campaign earned bitcoin how they spend the bitcoin, I think any reason rendering is exaggeration and predictions because nobody knows were we put in our money we earn in signatures campaign, some people are using forum earning as their side hustle and when the weekly bitcoin received they use it for investment, we don't know how people here have less bitcoin and more of bitcoin in his wallet, their are other investments some people can go in without  investing bitcoin gives them more money, so many people does even invest in bitcoin because they prefer investing with altcoin because the profit in altcoins investment, it depends were you want to invest

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July 05, 2023, 11:19:48 PM
 #24

At some point,  some persons who even participate in signature  campaigns and earn bitcoin  without having to buy directly, who should have been the most persons to have some good figures in their portfolios still aren't having any because most of them either withdraw this earnings to fiat to be able to make ends meet or withdraw it to solve some issues but whatever the case be, alot of persons aren't hodling currently now not because they are ignorant  or even procrastinating but I believe  one of the major reason is because they don't have to means to invest.
Well obviously there has got to be some persons doing some active hodling. Be it from personal funds invested in the coins or from signature earnings. Without any statistics to prove, there are a lot of users on the forum who are actively hodling most of there earned or invested coins as they’ve got other means to sort out there daily bills and use this for just another means to top up there hodlings.

Quote
Now I want to know what really do you think is holding people back for hodling this period?
I think the reasons that encompasses users or investors that don’t get to hodl for long is what you’ve already carried in the OP. What I’ll like to add is that,

We shouldn’t be one sided or too particulate about hodling on this one. Bitcoin wasn’t meant to be something we just bundle away and have it packed up in some wallet. It’s meant to be used as a currency, a means to some enjoyment of one’s struggles.
So yeah, if your at that line, you could cross but, it has to be a last resort following the significant benefit it carries.

R


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July 05, 2023, 11:33:34 PM
 #25

From my insight about this post is that not that people don't want to buy and hold but rather there are core traders who only trade with it at the main time and if they are closing their markets they often sells off to a stable coin the maintain their profits stability. Like me currently I m holding but that doesn't mean I must hold thousand of bitcoin, I only hold the amount I think I should hold. Just as your poll already said, I am afraid of the dip meaning we may likely face more difficulty in terms of price dropping down to 25k or lesser so it's better hold the amount I think I could be able to withstand the pressure.

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July 05, 2023, 11:38:44 PM
 #26

Going through a lot of comments I see that most members are of the opinion that lack of funds which is the purchasing power is the reason behind so many people not hodling bitcoin but in most cases, I think the fear of the price of bitcoin is the reason behind people not holding bitcoin. Any one who's a short time nvestor will be scared of the price falling since such person won't be patience for the price to go up again but for long time holders, they stand a better chance of holding for a long time because they believe in the chances of the price of bitcoin being in their favour by rising up before they can sell. Personal I think anyone who's a real bitcoin believer should have some bitcoin stored in his or her name if really they practice what they preach.

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July 05, 2023, 11:47:36 PM
 #27

to hold bitcoin at its current price is ridiculous. because bitcoin price has been trying to go up.
right now the best chance is to wait and see. because it can come back down.  Grin
Yeah, the same mindset why most people regret later after bitcoin reach another milestone.
Bitcoin price doesn't look to go down now and it's a good time to take risks.

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July 05, 2023, 11:48:58 PM
 #28

I personally still hold some Bitcoin right now, and I don't plan on selling it off anytime soon. That's for the one I personally purchased for the purpose of holding.

I believe everyone has what they intend to do with whatever they are earning from the various areas in which they might be making their money. As for my signature pay, I spend almost all of it every single week when ever it is being paid. They are what cover part of my daily needs and wants, and whatever I want to do with money—lend out to a friend, family, and all that—they are all on my weekly pay. That's what I do with the BTC I earn weekly; I barely hold them. But that does not mean I do not hold Bitcoin, since it's not the only source of income I have, but it's probably the source of income that pays most of the bills.

R


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July 05, 2023, 11:55:59 PM
 #29

They cannot simply tolerate partial loss in holding and they are more into assured profit such as with signature and bounty campaigns. Well, it is not a requirement in the first place to have crypto holding but if you have the capacity to do so, then ofcourse it would be an advantage. The only disadvantage is that, it will require you to wait for a period of time or until the market price increases, in order to generate profit from investing into this technology  Also, no one is certain when would be or how long sjould we hold into our assets in order for it to be profitable. But as you learn from this industry, you'd understand it more.

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July 05, 2023, 11:57:27 PM
 #30

From my insight about this post is that not that people don't want to buy and hold but rather there are core traders who only trade with it at the main time and if they are closing their markets they often sells off to a stable coin the maintain their profits stability. Like me currently I m holding but that doesn't mean I must hold thousand of bitcoin, I only hold the amount I think I should hold. Just as your poll already said, I am afraid of the dip meaning we may likely face more difficulty in terms of price dropping down to 25k or lesser so it's better hold the amount I think I could be able to withstand the pressure.
Then they are just a core trader, not part of a long-term holder.
Traders will sell their asset holdings to stablecoins when they make a profit, but there are also some core traders setting aside a little for the long term.

You may not have to hold thousands, but you should hold what you can hold.
If it is targeted for the long term, then set a price that you will reach, so that you will not hold forever. The target price is important to get the profit you are supposed to get.

When the price drops before the target is reached, you just need to re-purchase to add more assets.
That's the right thing to do, don't panic and Cut Lose, that's stupid.

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July 05, 2023, 11:59:50 PM
 #31

When we talk about people who participates in signatures campaign earned bitcoin how they spend the bitcoin, I think any reason rendering is exaggeration and predictions because nobody knows were we put in our money we earn in signatures campaign, some people are using forum earning as their side hustle and when the weekly bitcoin received they use it for investment, we don't know how people here have less bitcoin and more of bitcoin in his wallet, their are other investments some people can go in without  investing bitcoin gives them more money, so many people does even invest in bitcoin because they prefer investing with altcoin because the profit in altcoins investment, it depends were you want to invest

Every Signature campaign participants have different thought and circumstances. Some may use this money to meet their small expenses while others may gamble or trade with this money. Some may even save it for the future while others may convert it to fiat.

The question of why one can't ever hold the bitcoin for the long term really depends upon the financial conditions of the person. I guess everyone wishes to hold but in order to meet the day to day expenses, some people may have to convert to fiat too. If you do not have extra money which you can put in Bitcoin and forget about for a few years, you have no other option but to convert it back and forth into fiat.

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July 06, 2023, 12:07:13 AM
 #32

From my insight about this post is that not that people don't want to buy and hold but rather there are core traders who only trade with it at the main time and if they are closing their markets they often sells off to a stable coin the maintain their profits stability. Like me currently I m holding but that doesn't mean I must hold thousand of bitcoin, I only hold the amount I think I should hold. Just as your poll already said, I am afraid of the dip meaning we may likely face more difficulty in terms of price dropping down to 25k or lesser so it's better hold the amount I think I could be able to withstand the pressure.
Then they are just a core trader, not part of a long-term holder.
Traders will sell their asset holdings to stablecoins when they make a profit, but there are also some core traders setting aside a little for the long term.

You may not have to hold thousands, but you should hold what you can hold.
If it is targeted for the long term, then set a price that you will reach, so that you will not hold forever. The target price is important to get the profit you are supposed to get.

When the price drops before the target is reached, you just need to re-purchase to add more assets.
That's the right thing to do, don't panic and Cut Lose, that's stupid.
Like I said before I have already hold what I think is okay for me to hold, I am not holding for short term or quick profits but I have decided to hold for about 1 year to 3 years if possible I may decide to hold for next 5 years and I will keep topping my balance whenever I feels the market is weak enough for me to top it up. I think people more focusing on the profits aspect of bitcoin instead of the core values why it was created, people who holds for profit never hold for long term rather short term and yet still gives bitcoin bad misinterpretation on how the price isn't stable or not make profit, but had forgotten they need to hold for long to be able to enjoy the profits.

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July 06, 2023, 12:23:23 AM
 #33

Now I want to know what really do you think is holding people back for hodling this period?
Please try to answer the poll and I hope to update the thread with result of the thread after getting enough results, possibly after the 5th page.
Other reason could possibly be because they just don't trust Bitcoin at all.....for now. Back when I was teenager, I thought that Bitcoin was like sort of an illegal currency widely used. I was like curious about it, but it kinda held me back to buy and hodl since I don't want to be put behind the bars.
From that OP, you should also add that it could possibly be lack of knowledge that holds people back. It applies both new and existing hodlers.
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July 06, 2023, 12:25:38 AM
 #34

Well, yeah, for me, I've always tried to hold as much as I can, but like op has described or said, most of the times, cares of life leaves me no choice but to sell some good portion of my holding, then withdraw the money to enable me solve those problems..

But then, one thing I've come to believe is that, selling bitcoin is not a bad thing, after all, buying and selling is how the currency discovers new prices, which is also how traders get to make some profits or losses - like I was saying, having to sell bitcoin is not a bad thing, but then, one should make sure they are not selling it for useless it for things that will not add any meaning to the person's life, this is in other to avoid regrets at the end of the day.

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July 06, 2023, 01:53:14 AM
 #35

The only disadvantage is that, it will require you to wait for a period of time or until the market price increases, in order to generate profit from investing into this technology  Also, no one is certain when would be or how long sjould we hold into our assets in order for it to be profitable. But as you learn from this industry, you'd understand it more.
I think a good beginner baseline for how long you should wait is the halving, I think the halving is always a guaranteed profit when you are planning to hodl your bitcoin for a long time, definitely no one is certain but a good rule of thumb is to never marry the bag when the profit is already 100% or higher.
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July 06, 2023, 02:24:20 AM
 #36

Now I want to know what really do you think is holding people back for hodling this period?
Please try to answer the poll and I hope to update the thread with result of the thread after getting enough results, possibly after the 5th page.
I choose lack of means and other, with the other reason being that people do not real know anything about investing, and as such if they had the means to invest in this market they will refuse to do it as they will prefer to keep their fiat in hand, not understanding this is even more risky.

And even if those people are making a mistake at the same time they are the ones that are in a good position, as the majority of the people out there simply do not have any money to invest, as the money they earn is not enough and they have a lot of debts as well.

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July 06, 2023, 02:26:26 AM
 #37

Now I want to know what really do you think is holding people back for hodling this period?
Please try to answer the poll and I hope to update the thread with result of the thread after getting enough results, possibly after the 5th page.
Everybody will like to own a fraction of Bitcoin, and it's not everyone who own some is financially buoyant not a sell his/her bitcoin in time of need, which is why they are most likely to sell it to feed themselves or take care of pressing family needs, hoping to buy more or work for more and save. So that the reason why most people aren't hodling there Btc.

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July 06, 2023, 02:32:31 AM
 #38

That is mostly the reason why others are still holding it because those who join signature campaigns needed that money for their daily needs, as for sure others don't have enough income. That is why signature campaigns are very helpful, or they are really planning to improve their lives, but those people have already settled, for sure. Even for myself, that is my reason, but I now save my money because of the halving to own and accumulate bitcoin, though again, it ain't easy as we still need to survive on our daily needs.
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July 06, 2023, 03:01:52 AM
 #39

It is natural that whoever can afford it will hold that amount of bitcoins. Investors can invest different amounts according to their ability. If we look at signature campaigns, we can see that very few members are earning BTC from signature campaigns. Not all of the BTC earned from the signature campaign is invested by the people. They may spend a portion of the BTC they get in the signature campaign for their own needs, and the rest of the BTC they may use for investment. We cannot consider the BTC earned from the signature campaign as an investment, but the part of the money earned from the signature campaign that is not spent and kept for the future, we can think of it as an investment.

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July 06, 2023, 03:07:58 AM
 #40

Hey, OP,  It should not be pointed out that some do not do it because they do not have capital , since eventually there are individuals who have the money and others do not, obvious, anyway, as with other assets, just because bitcoin can be 10x or higher doesn't mean you have to be showered with investments.

Therefore, the reasons for not investing can be several situations and among them the ones that are surely the most predominant is that they simply they don't like bitcoin, course they are very obvious answers but investments are decisions tied to many variables, that is not only invested for the simple fact of being bitcoin and those who hodl fall into that complex idea of ​​decisions.

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