HODL is purely a mental challenge

[alastantiger]

...After all, it's a very important lesson to know that HODL is purely a mental challenge. If you want to HODL correctly, you should know and pay attention to all points mentioned above.  

If you are a holder, you can also determine within yourself how long you want to hold for. Your reasons for holding has to be well articulated. There are even more people holding now than before. They have started to understand it's importance. One of such is the low volatility.

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[KingsDen]

...After all, it's a very important lesson to know that HODL is purely a mental challenge. If you want to HODL correctly, you should know and pay attention to all points mentioned above.  

If you are a holder, you can also determine within yourself how long you want to hold for. Your reasons for holding has to be well articulated. There are even more people holding now than before. They have started to understand it's importance. One of such is the low volatility.

Reason for holding is such a great challenge.
If I am holding to build a house after the bull run and in the process of holding, there is a financial problem that is needed to solve, if I have no emergency fund, it means that I could cut my hodl short and take care of the most needful.
The best hodler is one who holds with spare money, or money that is actually not budget for anything. This is the only way to keep going even in the middle of a dip bear

I agree that hodling is a mental challenge, especially if the hodler is always a checker of the portfolio and a tracker of the bitcoin price.

[Learn Bitcoin]

After all, it's a very important lesson to know that HODL is purely a mental challenge. If you want to HODL correctly, you should know and pay attention to all the points mentioned above.  

Some people tend to break every rule made in this world. Sometimes I cannot hold myself from saying something straightforward. My forum journey began with a question in mind, it was "Can I lock my Bitcoin in a wallet? I found a solution at the end. But the problem was, I was making money online and spending them online as well. I was thinking of saving my Bitcoin for the future. But most of the time I end up gambling my bitcoin in online casinos. So I was looking for a solution. Coinb.in was the solution. I already know that saying Hodl is not hard, but most of us cannot hold it. We fail because it's a mental challenge and sometimes we fail to ourselves.

[goxcraft]

Most of the holders don't have that mental strength to keep on holding. And when they see the price dropping, they sell in panic.

Yeah, maybe we say it easily right now "let's HODL for a very long time" but it's really a different situation, once our stash of Bitcoin has hit 1 million US Dollars or even more. It will be very tempting to sell because after selling it, we would be insanely rich.
So, we can see, it's not easy at all to be a good HODLer. 

In any case, I would always try to keep at least a fraction of Bitcoin.
Never sell everything. 

In any case, I have been holding for some time. Quite a bit of time. Around 85% of everything I earn is in my holding account. The rest I am somehow using to survive. I need to sell, because I need money, I need to buy things, but I'm holding myself back. Wait just some days. I know it may sound absurd. But I think if I can somehow pass this moment, I can hit a big. That's why I have been buying whenever I can. As we all know, we are at the peak of bitcoin. The halving will occur pretty soon, in April 2024. So until then, I will keep buying.

Never selling everything, almost holding everything.

[Mame89]

As a conclusion we should keep in mind: most common mistakes of HODL are quick sales of our valuable BTC. So, we have to be aware and know that HODL is purely a mental challenge.

I believe...
In the future, technology will not be able to escape from what is called blockchain.
So bitcoin investment is a promising investment in the future.
The value continues to increase and the technology can definitely be utilized by humanity.

As long as technology still exists and develops, bitcoin will continue to exist, and holding bitcoin is a wise choice. Even though Hold is a mental challenge, I agree with that, but if we can get through it our future will be even brighter.

Indeed, holding has many temptations, so what we need to change our mindset and invest confidence in bitcoin assets. Indeed, holding looks easy and simple, but this strategy cannot be implemented haphazardly. So we have to go through various processes of analysis, mental and belief.

[Natalim]

It is undeniable, indeed a big challenge, especially for beginners. Having mixed emotions and a lack of knowledge, you'll really become uncertain of your doings, and even holding becomes questionable. I could say this because this is what I felt before until I realized that holding is a must. We can't never beat that market volatility which sometimes we are urged to hold our coins and become patient. If we can't hold it means that we never see success as well. That is why impatient people suffer losses while those who can wait are able to reach their goals.

[khiholangkang]

After all, it's a very important lesson to know that HODL is purely a mental challenge. If you want to HODL correctly, you should know and pay attention to all the points mentioned above.  

Some people tend to break every rule made in this world. Sometimes I cannot hold myself from saying something straightforward. My forum journey began with a question in mind, it was "Can I lock my Bitcoin in a wallet? I found a solution at the end. But the problem was, I was making money online and spending them online as well. I was thinking of saving my Bitcoin for the future. But most of the time I end up gambling my bitcoin in online casinos. So I was looking for a solution. Coinb.in was the solution. I already know that saying Hodl is not hard, but most of us cannot hold it. We fail because it's a mental challenge and sometimes we fail to ourselves.

I understand what you feel and most people fail to practice HODL, to be honest this is very difficult to do because the mental stress of Bitcoin price fluctuations can disrupt this strategy in an instant when you feel panic from a bleeding market or a freefall forming a new bottom , Most people lose, most people give up and most people stop and even lose because they can't practice HODL.

Please know, friends, to reach heaven is not easy, you have to fail and fail, but it is not impossible, you have to keep trying and keep trying so that you are able to do it and prove that you can HODL your bitcoin until the specified time.

As a conclusion we should keep in mind: most common mistakes of HODL are quick sales of our valuable BTC. So, we have to be aware and know that HODL is purely a mental challenge.

I believe...
In the future, technology will not be able to escape from what is called blockchain.
So bitcoin investment is a promising investment in the future.
The value continues to increase and the technology can definitely be utilized by humanity.

As long as technology still exists and develops, bitcoin will continue to exist, and holding bitcoin is a wise choice. Even though Hold is a mental challenge, I agree with that, but if we can get through it our future will be even brighter.

Indeed, holding has many temptations, so what we need to change our mindset and invest confidence in bitcoin assets. Indeed, holding looks easy and simple, but this strategy cannot be implemented haphazardly. So we have to go through various processes of analysis, mental and belief.

From what every Bitcoin adoption shows, most people use Bitcoin as a means of investing and maintaining the value of their money from inflation. Yes, maybe you are right that we will never be far from the future with blockchain and Bitcoin is the pioneer and also the king of all innovation. which is in the ranks of blockchains that have been developed to date. Deciding to hold bitcoin is a tough decision but the people who do it are very intelligent and have a strong mentality.

[Asuspawer09]

~

I mean you have a good point, but I guess it wasn't really that bad to go for early profit as long as it is still a profit even though it wasn't a big amount of profit, profit still profits so it is still good enough, also it wouldn't really matter since you're going to have the opportunity to reinvest your money again in case the market price drop again if the market price starts to skyrocket again arent you going to sell your Bitcoin, I believed that there were just some investors that doesnt really have the plan to sell there Bitcoin which I think is a good move but isn't a waste since your investing in cryptocurrency or Bitcoin in order to make a profit right? probably some are going to save not only for profit, but let's be honest we all invest just to make a good amount of profit, so if we did make a good profit aren't you going to sell your holdings?

personally, I would sell a part of my investment if I think its already a good price to sell and I already make a good amount of profit, but I wouldn't really sell all of my Bitcoin or cryptocurrency since there is always a chance that its going to surpass its past price, where you could lose your opportunity if that happened, also if what happened is the opposite the market price continue to dump, I already make a good profit giving me the opportunity to reinvest that money or maybe use it to invest to a safer investment.

[SatoPrincess]

There is a famous quote from the Bible that goes For where your treasure is, there your heart will be also. We all are buying and hodling bitcoin with the intent to make profit. Hodling is easier when you follow the rule Invest only what you can afford to lose, this eases the pressure mand takes your mind off your bitcoin hodlings when faced with financial difficulties.

[BitDane]

~

I mean you have a good point, but I guess it wasn't really that bad to go for early profit as long as it is still a profit even though it wasn't a big amount of profit, profit still profits so it is still good enough, also it wouldn't really matter since you're going to have the opportunity to reinvest your money again in case the market price drop again if the market price starts to skyrocket again arent you going to sell your Bitcoin, I believed that there were just some investors that doesnt really have the plan to sell there Bitcoin which I think is a good move but isn't a waste since your investing in cryptocurrency or Bitcoin in order to make a profit right? probably some are going to save not only for profit, but let's be honest we all invest just to make a good amount of profit, so if we did make a good profit aren't you going to sell your holdings?

I also agree, whether to hodl or sell in short term as long as the person is in profit it is still a good trade/investment.  It would be better if one is knowledgeable with trading to exercise trading then holding since trading can greatly increase an investors position if all his actions is a success.  There might be more risk involve but if successful the investor can reap more reward or profit.  Short term holdin isn't also a bad thing as long as he is able to rinse and repeat his action.  Besides profit will never be realized if we don't sell our stash.

[DVlog]

~

I mean you have a good point, but I guess it wasn't really that bad to go for early profit as long as it is still a profit even though it wasn't a big amount of profit, profit still profits so it is still good enough, also it wouldn't really matter since you're going to have the opportunity to reinvest your money again in case the market price drop again if the market price starts to skyrocket again arent you going to sell your Bitcoin, I believed that there were just some investors that doesnt really have the plan to sell there Bitcoin which I think is a good move but isn't a waste since your investing in cryptocurrency or Bitcoin in order to make a profit right? probably some are going to save not only for profit, but let's be honest we all invest just to make a good amount of profit, so if we did make a good profit aren't you going to sell your holdings?

I also agree, whether to hodl or sell in short term as long as the person is in profit it is still a good trade/investment.  It would be better if one is knowledgeable with trading to exercise trading then holding since trading can greatly increase an investors position if all his actions is a success.  There might be more risk involve but if successful the investor can reap more reward or profit.  Short term holdin isn't also a bad thing as long as he is able to rinse and repeat his action.  Besides profit will never be realized if we don't sell our stash.

If you have another profession and cannot dedicate your time to trading then it is advisable for you to consider the DCA strategy to build a portfolio for you to hold. Some experts say holders profits are greater than interday traders profits most of the time. Holders don't take much loss if they have great portfolio management skills and have the patience to hold their assets for enough time.

[Saint-loup]

I also agree, whether to hodl or sell in short term as long as the person is in profit it is still a good trade/investment.  It would be better if one is knowledgeable with trading to exercise trading then holding since trading can greatly increase an investors position if all his actions is a success.  There might be more risk involve but if successful the investor can reap more reward or profit.  Short term holdin isn't also a bad thing as long as he is able to rinse and repeat his action.  Besides profit will never be realized if we don't sell our stash.

In addition, you shouldn't forget that nobody is currently able to predict the price of Bitcoin in the coming years. People saying the opposite are lying. Nobody can certify that Bictoin will be above the current price (around 28k$) in 5 years, or even in one year. Especially after the deployment of CBDC, nobody can say how the Bitcoin market will react to that. Bitcoin starts to get old, and it's expensive and slow to use compared to most of other cryptocurrencies, so its adoption is likely to happen as time is passing. Only serious technological changes could reverse the trend IMO.

[1miau]

~

I mean you have a good point, but I guess it wasn't really that bad to go for early profit as long as it is still a profit even though it wasn't a big amount of profit, profit still profits so it is still good enough, also it wouldn't really matter since you're going to have the opportunity to reinvest your money again in case the market price drop again if the market price starts to skyrocket again arent you going to sell your Bitcoin, I believed that there were just some investors that doesnt really have the plan to sell there Bitcoin which I think is a good move but isn't a waste since your investing in cryptocurrency or Bitcoin in order to make a profit right?

Well, that's a really long question, so let me elaborate each detail.  

I mean you have a good point, but I guess it wasn't really that bad to go for early profit as long as it is still a profit even though it wasn't a big amount of profit, profit still profits so it is still good enough,

Of course, a profit is already nice and a pizza for some magic internet money is also already nice but it is also about missed profits. Because by selling early, we are at risk of missing much more profits. Of course, selling early for a profit can also mean, we have a safe profit, in case Bitcoin's price will go down again.
But as a HODler, we are always speculating to have a rising Bitcoin price. Maybe not speculating to have a rising Bitcoin price tomorrow, but a rising Bitcoin price next halving, for example.

also it wouldn't really matter since you're going to have the opportunity to reinvest your money again in case the market price drop again if the market price starts to skyrocket again arent you going to sell your Bitcoin

But for such a case, we need to have a dropping Bitcoin price again.
And Bitcoin has overally been more often in a bull market.
So, it could happen to us to see Bitcoin rising even more after we have sold - and we would miss big profits.

In addition, even in case of a dropping Bitcoin price, we need to re-invest of course. Some people just go away after making a profit.

I believed that there were just some investors that doesnt really have the plan to sell there Bitcoin which I think is a good move but isn't a waste since your investing in cryptocurrency or Bitcoin in order to make a profit right?

Well, people can still sell, only requirement is to have access to it (via private keys).  

probably some are going to save not only for profit, but let's be honest we all invest just to make a good amount of profit, so if we did make a good profit aren't you going to sell your holdings?

Selling mainly depends on everyone's general finances. Some people really need money and are forced to sell, some people don't need money and for such cases, I believe HODL is a very good strategy.  

[Distinctin]

I think it's all about the mental and emotional game, right? They say not to let your feelings run the show, but let's be real, sometimes fear creeps in, especially when you're HODLing that Bitcoin. I've been on that rollercoaster myself, man. I mean, I'll preach 'HODL' all day, but in reality, it's not always easy to stick to it 100%.

[Pmalek]

In my humble opinion, as a self-proclaimed Bitcoiner, HODL means "no return back". When you HODL, you expect that the rest of the populace will follow on a Bitcoin standard, sooner or later.

I remember reading that the late Hal Finney envisioned a future in which banks would be backed by Bitcoin. He understood Bitcoin's scaling problems and that the main layer will never have the capacity for an entire economy. But he thought that banks could perform daily settlements in Bitcoin once a day. A decade away and we don't seem any closer to that.

[avp2306]

~

I mean you have a good point, but I guess it wasn't really that bad to go for early profit as long as it is still a profit even though it wasn't a big amount of profit, profit still profits so it is still good enough, also it wouldn't really matter since you're going to have the opportunity to reinvest your money again in case the market price drop again if the market price starts to skyrocket again arent you going to sell your Bitcoin, I believed that there were just some investors that doesnt really have the plan to sell there Bitcoin which I think is a good move but isn't a waste since your investing in cryptocurrency or Bitcoin in order to make a profit right? probably some are going to save not only for profit, but let's be honest we all invest just to make a good amount of profit, so if we did make a good profit aren't you going to sell your holdings?

I also agree, whether to hodl or sell in short term as long as the person is in profit it is still a good trade/investment.  It would be better if one is knowledgeable with trading to exercise trading then holding since trading can greatly increase an investors position if all his actions is a success.  There might be more risk involve but if successful the investor can reap more reward or profit.  Short term holdin isn't also a bad thing as long as he is able to rinse and repeat his action.  Besides profit will never be realized if we don't sell our stash.

If you have another profession and cannot dedicate your time to trading then it is advisable for you to consider the DCA strategy to build a portfolio for you to hold. Some experts say holders profits are greater than interday traders profits most of the time. Holders don't take much loss if they have great portfolio management skills and have the patience to hold their assets for enough time.

This will be the solution since for making busy theirselves on their day job they can make them forget some things that can distract them on decision making to hold. Maybe on trading strategy it depends on the skills of traders since daily traders can still possibly earn more than bigger if they are good on trading. Holding is risky option but if this is done in right time and proper mental assessment for sure we can are successful earners since we have bull run seasons and that time can make us earn huge profit if we have long patience to wait.

If they do short term holding then its not a bad thing since the trader could decide for his self if what timeline he could able to sell his coins and as long as he earns then everything is fine on selected settings.

[DVlog]

This will be the solution since for making busy theirselves on their day job they can make them forget some things that can distract them on decision making to hold. Maybe on trading strategy it depends on the skills of traders since daily traders can still possibly earn more than bigger if they are good on trading. Holding is risky option but if this is done in right time and proper mental assessment for sure we can are successful earners since we have bull run seasons and that time can make us earn huge profit if we have long patience to wait.

If they do short term holding then its not a bad thing since the trader could decide for his self if what timeline he could able to sell his coins and as long as he earns then everything is fine on selected settings.

Holding can be risky if you are thinking about holding something that doesn't have massive support from the industry. Holding assets like gold, silver, bitcoin always seems profitable in the long term. Day trading can be profitable but it requires extensive knowledge about the market and experience. Despite that there isn't a guarantee that all of your trading will be successful.

However day trading requires time and patience, which can be challenging for many of us. A full-time professional trader can be a good profession if your earnings are sufficient to cover your family expenses. Even if you have a great skill and earn enough money to maintain your economic stability, it is advisable to have multiple income sources, as sometimes it can be dangerous to have only one income source.

[pawanjain]

Anyone who has ever heard of Bitcoin may have heard of HODL as well. Because HODL is a very famous strategy to speculate on long-term price gains of Bitcoin, whereby "long term" is not defined in detail, how long it really is.


HODL dates back to a Bitcointalk post from 2013, where it was advised not to sell one's own Bitcoins despite losses, but to wait patiently until it rises again.

However, it is indeed essential to wait, because most common errors from HODL are:

- Sold all BTC too early to realize (small) profits
- Sold all BTC too early to minimize losses in case of decreasing prices


Additional mistakes can be dangerous coin storage practices, for example on a file-sharing platform, which is increasing risks of getting hacked. But in my post and for advanced Bitcoin HODLers it is assumed our coins are stored properly, which HODL also invites us to do, because HODL only required to transfer our coins on very rare occasions (if at all), which minimizes transferring or storage errors.

As a conclusion we should keep in mind: most common mistakes of HODL are quick sales of our valuable BTC. So, we have to be aware and know that HODL is purely a mental challenge.

A good HODLer can resist any temptation to make (small) profits prematurely and a good HODLer keeps his Bitcoin.
A good HODLer stays cool even in case of losses. Best we can do is to move our valuable Bitcoin somewhere where it has a high resistance of being sold.
And we shouldn't store it on file-sharing networks anyways and also not on centralized exchanges because we don't have our private key on such platforms (not your key, not your coins).

After all, it's a very important lesson to know that HODL is purely a mental challenge. If you want to HODL correctly, you should know and pay attention to all points mentioned above.  

Well, if you are a lazy person then you can be a good HODLER. Just keep your bitcoins in a place where it is difficult to access.
You will most probably avoid those occasions where the price has pumped and you are getting quick profits but you then you become too lazy to sell.
Thus you end up HODLING and price goes to the next ATH price and that's what happened to me. LOL. 

[Outhue]

I don't like holding through the bull market which is the right time to let go of your Bitcoin, I mean it's just smart to sell your Bitcoin when it's pumping hard and buy back when it's down, I respect the whales that have held for so long and the wallets are not active and I believe this doesn't mean you are dead or lost access to the wallet.

My strategy is buy on the dips and sell everything in the bull market, I will get them back, way cheaper when Bitcoin dumps again, it's true that holding is a pure mental challenge but it shouldn't be if a bull and bear market as happened right in front of you before, there must have been some lessons you learned.

This is why people get rekt in altcoins too, they hold and get too lazy to sell, instead to keep track on price actions, I mean you can do this with crypto trackers, there are few apps that you can use to track price movement online today, always pay attention to price action, once the bull market starts mostly after the halving it's the right time to get focused on price actions.

[EarnOnVictor]

Thank you for pointing all these out. I must say that they portray the fear, safety, gains, intents and mistakes HOLDers make while holding their coins and how they should rightly go about it. However, as many might be guilty or careless about some or all, I must say that my own concern is only about the safety of my funds, not the psychology of Hodling them. This is because I've been a trader and investor for almost 2 decades, which is why I see the things of crypto as normal to me.

Nonetheless, this is helped by my plans on how to buy and exit safely without compromising it. My strategy to buy is to either DCA or Buy when a long-term bullish trend is confirmed. I exit only when I see a good reason to do so on the monthly chart, which is why I don't get affected if I make a mistake by that action.

As for safely Hodling it, I've set out 5 different non-custodial wallets that are open sources to distribute my coin for safekeeping. By this, all can't be comprised at once.