How do you work toward hodling bitcoin?

[Accardo]

~snip~

Is there perhaps a way to try to start another business that would be connected exclusively to fiat and thus have two parallel sources of income, so that you can keep most of the BTC for the long term?

There are multiple ways of doing that, but the risk now doubles, because both businesses will suck the generated BTC leaving me with almost little or no BTC. I've tried it myself, as it's the only way out, which I can think about. Hence, I'd need to get pass 3 stages, first would be setting up the fiat business with BTC. Second, working until the fiat focused business never needs btc to run smoothly. Third, the fiat business gets enough money to invest back into the bitcoin business. All these stages can be achieved with few extra hands, then extra years. I could remember building a fiat business in the social media niche, which was growing. But, due to the too much complaints of customers about the rendered services not being good enough. I had to kill the business. And since then I've never built any fiat business with the kind of potential that the above mentioned business had. So, it leaves me with no doubts about the possibility of doing same thing again. Maybe in a different angle. At least as the producer of the product. One thing that made me stop building the fiat business in the past, is that I wasn't the producer, It was a reselling business. I had no power to change or make efforts to provide the quality my customers complained about or wanted. It left me with no option than to quit it.

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[traderethereum]

The thing is that the hardest part of hodling bitcoin is keeping yourself from spending it. Which is why it’s always best to stay employed despite having a sizeable portfolio. This way, you get to continue to have a consistent source of money that you can reliably depend upon without having to spend money that you’ve saved through your bitcoin. Once you’re able to complete this you’re pretty much out of the woods when it comes to bitcoin holding, as everything else will come easy for you.

Oh, and also set a consistent schedule for when you’re going to put money into your crypto wallet. And always make sure you put it on time. This will instill discipline upon yourself which will eventually grow to become your very own habit.

Let's say bitcoin is savings for our future. I agree, no matter how much we have bitcoin, if we don't have other sources of income, then slowly the existing bitcoin will be drained. We must still have income every month, at least to fulfill our daily needs.
I will not talk about other people, I will talk about me personally. I have a number of bitcoins in my portfolio, that I got from me doing DCA. I'm sure if I didn't have the income, then I would never have the bitcoins. Or if I have any bitcoins, then it will run out because I will sell it to fulfill my daily needs.

Exactly right. By having income from other places, we can make money so we can meet our daily needs and can also invest in bitcoin. The important thing is that we can still hold the bitcoins we have until the time comes for us to sell them at a high price.
I remember a friend's story several years ago when bitcoin was still under $20k.
He seeks to own more than 5 BTC. At that time, he finally managed to own it and continued to work as hard as he could to make money.
And when bitcoin got its bull run and reached its highest price of $20k, my friend sold his 3 BTC and got more or less $50k-$55k and that was a huge amount of money for him.
And from that money, he took $30k-$35k to prepare for his daily needs and his future while he used the rest of the money to invest in bitcoin and altcoins again. And he repeated that story at a time when bitcoin was hitting a high of $60k.

[CryptopreneurBrainboss]

Yet building a fresh business from scratch isn't easy, most often, I still use bitcoin to invest on the local online business. Still keep me yards back from achieving my goal of hodling bitcoin made through online business. Contribute your thoughts and personal experiences. As the influencer didn't elaborate how he made his possible.

The best way I could see this been possible is by allocating a percentage of your earners for hodling and making that your investment in Bitcoin while you use the other percentage of your earnings for expenses and reinvesting into your business or building other businesses. Hodling can be easily done when you have income coming from other businesses or sources and you dedicate an amount that you want to be saving for the future.

We're hodling out Bitcoin for profits so if our business is also giving us profits, I don't see a problem with reinvesting our Bitcoin into our business and growing it to a point which it can generate enough profits that'll make it easy for us to be buying Bitcoin and hodling.

Another strategy you can use in hodling your Bitcoin perfectly is when you buy through DCA, this way you won't be out of cash for reinvesting into your business or doing other things as the amount you'll be using to DCA monthly won't be much that'll make you go broke or run out of cash. As you keep building your portfolio, you get more motivated the keep on hodling. When you just started investing in Bitcoin, hodling becomes a little difficult but as you grow in the industry, it get easier.

[Suzume]

Those who hold Bitcoin from 2009 to 2015 the price of Bitcoin was low that time holding don't effect in the economical condition of a holder. But nowadays the price of Bitcoin is increase a lot those who want to hold Bitcoin they suffer a lot specially little investors who investor small amount. They don't have enough capital for invest and after sometime investment they sell their Bitcoin and get small profit. Because of their economical condition and they can't invest that use amount of money for one bitcoin that's why they invest for a small time not for a long term but they try to hold it for long.

[Essential10]

It has come to a new side of capital and sentiment for Bitcoin users. It is known as a secure and technically rewarding cryptocurrency. It is messaging in a technological way to capitalize in a balanced way to provide users with their own control and complete privacy. This can be a good way to create a challenging but rewarding business, where you can develop the skills and growth you need. You must at the same time perform it independently and move in tune with market conditions. Bitcoin can be a good way to trade then on online trading and exchange platforms, and it gives some convenience to your needs and can help you save a lot of seed. It can help you exchange bitcoins in a trusted and secure way, so you can look it up to start trading.

[Silberman]

Those who hold Bitcoin from 2009 to 2015 the price of Bitcoin was low that time holding don't effect in the economical condition of a holder. But nowadays the price of Bitcoin is increase a lot those who want to hold Bitcoin they suffer a lot specially little investors who investor small amount. They don't have enough capital for invest and after sometime investment they sell their Bitcoin and get small profit. Because of their economical condition and they can't invest that use amount of money for one bitcoin that's why they invest for a small time not for a long term but they try to hold it for long.

At least to me that is not really an excuse, holding is difficult for everyone regardless of the amount of money they invest in the market, however even if the benefits are greater for those that invested the most money, you can still get great benefits with bitcoin even if you just invested a little bit of money, for example someone that invested 1k at the bottom which was 15k could get 10 times that amount if bitcoin reaches 150k, and while 10k will not allow you to buy lambos or any other luxurious car, that is still a decent amount of money.

[merekamo]

Personally was going through some sales of mine in the past and the worth of the BTC I had spent few years back today. Thought about it, until I came across of a twitter influencer who also sold his products for bitcoin. And he mentioned he didn't hodl those bitcoin. But he worked strides ahead to build his business such that he'll hold every single bitcoin he made through sales. Same thing I linked to other people who sold products for bitcoin, many didn't hold their bitcoin. But, that's not the issue or problem. The question is what are the possible means of securing our businesses and at same time saving the bitcoin made through the services we render? Mainly I crafted out a new skill out of me that earns me local currency; fiat. Yet building a fresh business from scratch isn't easy, most often, I still use bitcoin to invest on the local online business. Still keep me yards back from achieving my goal of hodling bitcoin made through online business. Contribute your thoughts and personal experiences. As the influencer didn't elaborate how he made his possible.

Explore other cryptocurrencies or other local businesses, friends. There are just ways or ideas that come up for example every time you make a sale and get paid in Bitcoin, put a small part of it into your hodl savings and, well, hodl. This way, you not only spend the cryptocurrency, but also save it. One thing is, BTC is unpredictable, yes that's been the case for a long time. So, in principle, think of Bitcoin as not just an investment, but as an opportunity to engage with a new market or offer your product to consumers who may only have Bitcoin to spend. Diversify investment ways - Bitcoin is one stream. Explore other cryptocurrencies or local businesses.

[Kelward]

Personally was going through some sales of mine in the past and the worth of the BTC I had spent few years back today. Thought about it, until I came across of a twitter influencer who also sold his products for bitcoin. And he mentioned he didn't hodl those bitcoin. But he worked strides ahead to build his business such that he'll hold every single bitcoin he made through sales. Same thing I linked to other people who sold products for bitcoin, many didn't hold their bitcoin. But, that's not the issue or problem. The question is what are the possible means of securing our businesses and at same time saving the bitcoin made through the services we render? Mainly I crafted out a new skill out of me that earns me local currency; fiat. Yet building a fresh business from scratch isn't easy, most often, I still use bitcoin to invest on the local online business. Still keep me yards back from achieving my goal of hodling bitcoin made through online business. Contribute your thoughts and personal experiences. As the influencer didn't elaborate how he made his possible.

You'd have to be very rich in order not to touch the bitcoin that you made from your sales or services, because almost every need in this life requires money to actualize. So it's not your fault if you're not able to meet up with the target of holding every bitcoin, that you made in your business.

We need to survive from the business that we do, so you can't hold your bitcoin, and starve or not meet other primary needs, that'll be an unwise decision. For me it's either to get a second source of income, that can support your expences, so you can be able to hold the bitcoin from your sales. Or you can cut down on your weekly or monthly expenditure, in order to hold the bitcoin, as desired.

Actually, there are many ways for us to have Bitcoin if we really want and can find a way to do so. Therefore, you don't need to
be rich just to own Bitcoin.

Bitcoin is for everyone who wants to have it; as long as you know the way, you will definitely have it, and then I believe that as you study or learn about bitcoin, you will surely discover how to have it so that you don't take out any money from your hard-earned means.

Truly there are many ways to accumulate and not touch the bitcoin, that you earn in your business, it's just a matter of thinking outside the box. Although you didn't share any ways that can be helpful to the OP, this would have added to his knowledge of not touching his hard earned money.

As I stated before, in order not to touch the bitcoin that he makes as profit in his business, he must get another source of income to support him, because obviously he's struggling to make ends meet, therefore he's bound to spend his bitcoin on upkeeps.

He can get a second job, work extra hours in his business, learn a new trade as a side hustle, add new features or brands in his business. These are few tips on how he will not take out bitcoin from his business.

[Velemir Sava]

An inspiration from looking at the Twitter link above.

Personally was going through some sales of mine in the past and the worth of the BTC I had spent few years back today. Thought about it, until I came across of a twitter influencer who also sold his products for bitcoin. And he mentioned he didn't hodl those bitcoin. But he worked strides ahead to build his business such that he'll hold every single bitcoin he made through sales. Same thing I linked to other people who sold products for bitcoin, many didn't hold their bitcoin. But, that's not the issue or problem. The question is what are the possible means of securing our businesses and at same time saving the bitcoin made through the services we render? Mainly I crafted out a new skill out of me that earns me local currency; fiat. Yet building a fresh business from scratch isn't easy, most often, I still use bitcoin to invest on the local online business. Still keep me yards back from achieving my goal of hodling bitcoin made through online business. Contribute your thoughts and personal experiences. As the influencer didn't elaborate how he made his possible.

Every investment decision should be based on a deep understanding, especially in BTC. because prices can drop unexpectedly. I think it might be time to collaborate with other businesses like the ones you're referring to. This means that we have to look for a payment mode that accepts Bitcoin. but I also still don't know whether the breakthrough can be seen as working so as to create an ecosystem where Bitcoin can circulate between businesses without having to directly exchange it into fiat currency due to the regulatory process, but in my opinion it should be tried even though it is not easy.

[Antotena]

I for one, I really think that either one should invest in a DCA strategy and try as much as possible to be consistent and disciplined about it. Or joining a signature campaign of this sort or rendering services of sort on sites that pay good dollars/crypto.
At least the coin, is earned from  side gigs where a few coins can be also channelled toward fulfilling the HODLing plan. It doesn't matter whether the amount used to buy BTC at the time, its value is rewarding over time.

I thought the OP was asking generally, not limited to opinion of the forum and for that I don't think it's everyone that stays in this forum even know what signature is all about. I agree with your DCA strategy, if I hold bitcoin from any great means. I will continue to that even when the price is low like in bear market, it will strengthen you financially in the bull run when people will be running after the bitcoin price to buy some bitcoin to hold. I will even buy more during this bear market and continue to hold. It might not be easy but holding bitcoin is worth it 100 times than not doing anything at all.

Another thing is to consider during this time is security, it might be as easy as we think but everyday, we have bitcoin spy and thiefs everyday on bitcoin network looking for the next victim to suck their blood and by that I mean to suck away their sats from them. Security of bitcoin is very challenging and if you work to protect it, you must also work to safekeep it against other bad people.

[jaberwock]

I think some people who sell their stuff by accepting the reason why they don't have that patience of hodling Bitcoin is because maybe their business needed more money for growth. Like I know many business who sell bu receiving fiat they still reinvest the money into  their business,  this is just to make the business gets to a certain level they desire. One thing we should understand about Bitcoin,  it is not every Bitcoin that is for hodling ,  bitcoin is also a currency that people can accept in exchange of goods and services,  so it can be  spent just as every money is been spent.

If they prioritize their business over any other things, yeah, they are willing to sacrifice only for the sake of their business. For some people, maybe it works like that, where they treat some of their BTC's as a currency for regular spending, while the other is only dedicated for hodling.

There are also people who only treat all of their BTC as an investment asset. If they need money for spending, they will only use their fiat. They can also be able to sell their BTC early if they don't have a fiat anymore. The number of people who only treat all of their BTC as currency might be lesser than it. This is something that some BTC users are worrying about.

[TheUltraElite]

Those who hold Bitcoin from 2009 to 2015 the price of Bitcoin was low that time holding don't effect in the economical condition of a holder. But nowadays the price of Bitcoin is increase a lot those who want to hold Bitcoin they suffer a lot specially little investors who investor small amount.

Holders from back in 2009 have sold their coins long back. Because they bought at say 50-100$/BTC and after seeing it grow to 200$ they would have 4x or 2x that capital which means they would have booked profits and sold off. So there is no comparison between their time and now time. At present collecting bitcoin is the most important method to grow your bitcoin and not fiat. If you are holding and not spending crypto you are essentially in the profit for when you would sell.

Definitely spend the coins in times of need but try to use fiat maximally for that if possible.

[Negotiation]

I for one, I really think that either one should invest in a DCA strategy and try as much as possible to be consistent and disciplined about it. Or joining a signature campaign of this sort or rendering services of sort on sites that pay good dollars/crypto.
At least the coin, is earned from  side gigs where a few coins can be also channelled toward fulfilling the HODLing plan. It doesn't matter whether the amount used to buy BTC at the time, its value is rewarding over time.

DCA is good for everyone to apply forever if it is for Bitcoin, because Bitcoin's value will continue to exist and will never just disappear if over time there is an increase in Bitcoin users who believe that Bitcoin is good. So it would be very good if we want to continue running DCA while still looking for side income as you said in several ways that can support us in getting income in life, because the implementation of HODLing will not be disturbed when we have side income that can be used for life.

It is true that it is good to use it as a side income while running for life but many people are not used to it and everyone chooses bitcoin for holding. No one can give accurate news about these there is no guarantee how long it will last in the market, but bitcoin is a very reliable currency. As long as bitcoin exists its value will increase and is currently becoming more popular. As the number of bitcoin investors increases bitcoin will rise. Even if DCA invests in strategy it will take a long time to rise to the top.

[bettercrypto]

I remembered when the value of bitcoin dropped to around 190 dollars each. I wanted to buy bitcoin during those times, but that's why I didn't have any bitcoin to buy. I did try to borrow money from my friend at that time, but I failed.

That's why it was a winner when the price of Bitcoin dropped and held when 2017 entered; it spiked 20k in the size of the profit of those who bought and held. So now, I don't want to miss the chance that I have no holdings of cryptocurrencies. So I'm sure I'll make some money during the bitcoin halving and bull run.

[shawonngp]

At this current moment i have no other source of income apart from bitcointalk earning (bounty,airdrop,signature) so definitely it's very hard to hold Bitcoin for the bull run,
Because i need to sell Bitcoin for fiat money then i have to buy daily foodstuffs to survive in my life, But i tried my best to hold in Bitcoin for better living in the future life.

[Bloodseekers]

It is true that it is good to use it as a side income while running for life but many people are not used to it and everyone chooses bitcoin for holding. No one can give accurate news about these there is no guarantee how long it will last in the market, but bitcoin is a very reliable currency. As long as bitcoin exists its value will increase and is currently becoming more popular. As the number of bitcoin investors increases bitcoin will rise. Even if DCA invests in strategy it will take a long time to rise to the top.

If we know Bitcoin is a currency that we can rely on, of course we will try to collect it and hold it until we can make a profit from Bitcoin, everyone uses their own way to collect the amount of Bitcoin they want. If we can do it consistently then we will be able to enjoy the benefits of Bitcoin.
In holding Bitcoin we must not be influenced by the news, we must stick to the goals we have set to be able to make a profit, if we are influenced by other people's news then of course we will not be able to achieve what we have planned.

[Altryist]

Holders from back in 2009 have sold their coins long back. Because they bought at say 50-100$/BTC and after seeing it grow to 200$ they would have 4x or 2x that capital which means they would have booked profits and sold off. So there is no comparison between their time and now time. At present collecting bitcoin is the most important method to grow your bitcoin and not fiat. If you are holding and not spending crypto you are essentially in the profit for when you would sell.

Definitely spend the coins in times of need but try to use fiat maximally for that if possible.

It is quite possible that there are very few people left who hold Bitcoin at such prices. After all, now their profit could be estimated at thousands of percent, and it is very difficult to resist not locking in such a profit, at least some part. And those who are investing in Bitcoin now are clearly counting on x4-x5 and can invest very large capital in this.

Those who invest in Bitcoin now understand that Bitcoin is now a completely different asset than it was more then 10 years ago, now states are interested in it, the United States is interested in regulating cryptocurrencies, this says a lot and therefore such an investment seems more reliable now.

[Fakhrulenclix]

It is true that it is good to use it as a side income while running for life but many people are not used to it and everyone chooses bitcoin for holding. No one can give accurate news about these there is no guarantee how long it will last in the market, but bitcoin is a very reliable currency. As long as bitcoin exists its value will increase and is currently becoming more popular. As the number of bitcoin investors increases bitcoin will rise. Even if DCA invests in strategy it will take a long time to rise to the top.

If we know Bitcoin is a currency that we can rely on, of course we will try to collect it and hold it until we can make a profit from Bitcoin, everyone uses their own way to collect the amount of Bitcoin they want. If we can do it consistently then we will be able to enjoy the benefits of Bitcoin.
In holding Bitcoin we must not be influenced by the news, we must stick to the goals we have set to be able to make a profit, if we are influenced by other people's news then of course we will not be able to achieve what we have planned.

However, it is difficult to implement, everyone certainly has the goal of making a profit, but in our journey of holding Bitcoin, many things happen that are outside of our control.
If we look at Bitcoin price movements since the past, no one should have doubts about better prices in the future, but the negative news and price drops that occur sometimes cause panic.
Plus, urgent needs in real life sometimes thwart the plans we have built from the start.

In an effort to store or maintain Bitcoin for a long period of time, such as planning from the start, there are many things that must first be thought through carefully, including when we first enter this investment we must be prepared with everything so that our goals are achieved.

[vs2014]

In my opinion, if you want to secure your business, you should make a better investment than bitcoin. So it is unwise to take a loan or sell your personal assets for investment. I have seen many people who take out huge loans from banks to buy bitcoin and end up paying huge fines along with the profits. The most profitable in this crypto market are those who have more experience who don't take much trouble to profit from crypto. Because they understand how to trade when and which currency to buy at the right time.

[iBaba]

However, it is difficult to implement, everyone certainly has the goal of making a profit, but in our journey of holding Bitcoin, many things happen that are outside of our control.
If we look at Bitcoin price movements since the past, no one should have doubts about better prices in the future, but the negative news and price drops that occur sometimes cause panic.
Plus, urgent needs in real life sometimes thwart the plans we have built from the start.

In an effort to store or maintain Bitcoin for a long period of time, such as planning from the start, there are many things that must first be thought through carefully, including when we first enter this investment we must be prepared with everything so that our goals are achieved.

Whenever I have the opportunity, I do mention that as one works towards investing in Bitcoin for the long time, he/she should always try the DCA approach in his investment. Especially for those who have small capitals to inject into it. The benefit of using the Dollar cost averaging is that it helps you to monitor the process and changes at the same time. You are able to tell at what point should you add more investments, and at what point should you reduce your investments, even though you have more to invest.

It is good to advise anyone investing into anything including bitcoin to always have some money reserved with hi. For contingency sake. There are things that will likely come up in your life as you move on that are in need of urgent attention and practically unavoidable, one of which can be health related or any other thing else, regardless, one should always have something reserved for contingency and this should be aside from the money you must have kept for your day-to-day upkeep.

Making these,provisions outside your investment will help you to consistently invest with a budget and will help you to manage the investment growth evern more effectively since you don't have to come into the investment funds to solve those force majeures.