your bitcoin is not yours.

[Reatim]

i am aware we all have different strategies and goals for our investments but i am sure that a lot of us are planning to hold bitcoin for the long term and it got me thinking what ways could we do to prevent us from being tempted to sell our bitcoins and spend it on unnecessary things

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

[EL MOHA]

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

One of the most important attributes of a good and long term bitcoin holder is to master the act of been patient and that’s only possible if the investor actually uses discretionary funds to invest or possible some funds they can afford to lose as we mostly say it even most of us have large amount of money on bitcoin that we can necessarily be comfortable to lose.

Setting your profit goal or target is the first thing then holding onto that is one of the most important aspect of it, for me if it is for inheritance or even for a very long time like 10 years plus there is easily a way to do it by using the locktime method where you set the period of which the bitcoin will be sendable, this will automatically force one to hold because there is no way to actually send them out. This method most be careful thought about because there is no going back to it.

[Joy- maker]

What to do to prevent you from tempering with your bitcoin investment is to invest in bitcoin with the money you won't be needing anytime soon. Because this your strategy  to writing off your bitcoins as not yours. that money is not yours to spend. just forget about it, won't work. Because for the fact that you're holding bitcoin's on your custody those bitcoin's are yours which you can spend them or sell them anything you want. Bitcoin's can be not to be yours when you leave them in a centralize exchange. So my opinion here is for you to be able to hold on to your bitcoin's invest in bitcoin investment for long term only invest bitcoin with your discretionary income after you must have settled your basic needs and expenses for week or for month. And also make sure to set up an emergency fund and backup fund for they are very essential to have as an investor, so that when emergencies arises there will be emergency fund and backup fund to handle those emergency instead of dipping hand into your bitcoin investment.

[Royal Cap]

In my opinion, if someone wants to hold their money well through Bitcoin, then they should hold it like a bank fixed deposit. Think of a 3 year or 5 year term. During that time, you should not move any of your held assets. Because checking the market too much automatically creates confusion in your mind. However, in my opinion, setting a specific goal is the best option. When your goal in mind is complete, you will start spending your assets.

[Hatchy]

i am aware we all have different strategies and goals for our investments but i am sure that a lot of us are planning to hold bitcoin for the long term and it got me thinking what ways could we do to prevent us from being tempted to sell our bitcoins and spend it on unnecessary things

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

Ever tell yourself your Bitcoin isn't really yours? That it's just hanging out in your wallet, silently judging your spending habits? Funny how the more you pretend it's not there, the more you want to check if it is. Imagine waking up to find it all gone. Would you scream, or just shrug? because, hey, it wasn't yours anyway...

Truth is, holding Bitcoin is a huge mental or psychological challenge. Lots of people plan to hold for the long haul, but resisting the urge to sell especially during market swings is the real test.. The best strategy? Secure your keys, avoid constantly checking your balance and remember that market ups and downs are normal. Be patient, stay calm, and only put in money you can afford to forget about for a while.

[Solosanz]

I thought you're want to say coins in centralized exchanges aren't yours, but actually it's a skill issue thing.

I don't buy any kind of psychological thing, if someone want to hold for long term and they have a skill issue to not able to control himself, then use timelock transactions, the problem will be solved.

do you also do this and does it really work for you?

I do nothing and I've hold for 3-4 years.

[Rustam Meraj]

Your strategy of forgetting"l about your Bitcoin and treating it as not yours is excellent because it helps fight against fear and greed which mostly cause bad investment choices especially with Bitcoin volatile prices. With detaching emotionally you are less likely to sell impulsively. Many long term investors use  storing Bitcoin offline with DCA setting clear long term goals checking their investments less mostly and only investing money they can afford to lose. These methods help people stick to their investment plans even when market is unpredictable proving your strategy is powerful way to succeed in long term crypto investing.

[Alone055]

i am aware we all have different strategies and goals for our investments but i am sure that a lot of us are planning to hold bitcoin for the long term and it got me thinking what ways could we do to prevent us from being tempted to sell our bitcoins and spend it on unnecessary things

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

I don't know why you say it like that, but it's not like gambling, where when you feel tempted and do something, you basically lose money. When you have bitcoins, you have bought them earlier, and the price now looks good, and you get tempted and sell, I don't see anything wrong with that unless you might have had a higher target and sold them earlier but that's okay, you will only get lower profits but you won't lose anything.

Also, when someone makes an investment, they need to make sure that they are using funds that they don't need in the near future, so that they don't sell their assets back even before reaching the target they were looking for. When you use funds that were supposed to be used for the investment, you will surely have to sell your assets at one point, when you need the funds.

[KiaKia]

i am aware we all have different strategies and goals for our investments but i am sure that a lot of us are planning to hold bitcoin for the long term and it got me thinking what ways could we do to prevent us from being tempted to sell our bitcoins and spend it on unnecessary things

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

You won't get crucified if you decide to spend your Bitcoin and holding Bitcoin for long term is not a must, you are free to do anything you like with your Bitcoin.

If you are tempted to sell your Bitcoin then you don't even need to ask this question because sooner or later you will sell it either ways.

I believe that people find it harder to hold Bitcoin only when they can't even feed themselves very well, it gets very hard if they are not making money but stupid them decide to invest.

Investment is not for everyone, if you are not making money or if you are jobless you don't have any business with investing, the first thing you have to do is look for a job and save up some money first.

The later decide how much you can afford to start investing in Bitcoin, in weekly or every month.

[michellee]

Accumulating more Bitcoin is what I did so far and I don't have a will to spend the most. I want to have more Bitcoin and buy it time to time while waiting my target time or target price come. I don't tempting to sell the most amount of Bitcoin in the near.

The only thing I will sell my Bitcoin is when the price hit my target in this bull run. After that, I will keep my Bitcoin for the next bull run in the next cycle. But I keep my most amount for a long term so I don't want to sell it quickly.

[Wapfika]

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

This means you will pay less importance to your Bitcoin if you think this way. There’s a lot of Bitcoin maximalist that keeps thinking about their Bitcoin and proudly own it without encountering a problem holding it.

Perhaps it’s because they have sufficient money which they don’t need to use their Bitcoin investment to purchase something they want.

Actually, you will just be bothered holding if you needed the money you invested on Bitcoin.

[BTC FutureKing]

i am aware we all have different strategies and goals for our investments but i am sure that a lot of us are planning to hold bitcoin for the long term and it got me thinking what ways could we do to prevent us from being tempted to sell our bitcoins and spend it on unnecessary things

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

I understand your point which explains that as long as we have held something, it cannot be ours until we use it. This is completely acceptable because when we are not using it, it is not ours but it is definitely included in our ownership. It is the same as the land is ours but there are still a few issues with it and we do not want to leave it because of which that thing is not in anyone's name but it is definitely our property that we will get it when the time comes.

[MArsland]

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

Everyone has different ways of maintaining their bitcoin holdings for as long as possible. And your example is a suggestion that you are trying to instill in your mind to continue being a holder. It may work for you, but not for others. So it's better to customize it in a way that works for each of you. I don't know how long that person will stick with “think your bitcoins are not yours, the money is not yours to spend”.

[Smartprofit]

I also use various mental constructs, they help me to understand some entities and phenomena more deeply and not to deviate from achieving my strategic goals and objectives. 🧘

However, I do not think that my bitcoins do not belong to me. In my value system, there are things much more valuable than the first cryptocurrency. For example, health and life (mine and my family members).

I consider bitcoins good money, that is, money that is better and more promising than fiat money. What to do with good money? It should be saved, and “bad” and less “promising” fiat money should be spent. This is exactly what I try to do. 🌌

However, I have had to exchange my satoshi for fiat money more than once due to various life circumstances. Although I have always believed that it is better not to do this. 🤷

However, the map is not the territory (as experts in the field of neurolinguistic programming like to say).🤹 Our thoughts, our ideas, our plans and our mental constructs are not reality.  And when we face reality, we must act based on it, not on our plans (ideas, mental constructs). That is why I believe that Bitcoin (if I control the private keys) is my Bitcoin. I own, use and manage this cryptocurrency. And I can sell (or not sell) it. Depending on certain life circumstances.

[BitBakerr1]

Reatim you are actually right, writing off your bitcoins as not yours will actually help you hold for long term however before you can do this or make this possible you need to use only your Discretionary income to accumulate Bitcoin or you can say money you won't be needing for a very long time, if you use money that is important to you for example money meant for paying of bills to accumulate Bitcoin that strategy of writing off your bitcoins as not yours won't be possible because you will surely dip hands into it to settle your bills especially when no one is ready to help you out with it.

If you are those set of people that find it hard to stay patient I'm afraid but Bitcoin investment is not for you, for me how I knew I can accumulate Bitcoin and hold it for long term even before starting is by my saving capacity, I save a lot and when I'm saving no matter what I don't touch the money because i write it off as not my money so if you have this savings spirit in you then becoming successful in your Bitcoin investment won't be hard for you, remember use only your Discretionary income to accumulate Bitcoin.

[Dunamisx]

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

I don't think this can be an effective way to prevent us from spending from the asset we are holding, what about if we consider time lock, whereby until a certain time reached before you can ha e access to it, we can as well make use of a safety storage whereby we don't have access to the coins as we safe keep the keys somewhere secured as backup to our wallet.

[Patikno]

i am aware we all have different strategies and goals for our investments but i am sure that a lot of us are planning to hold bitcoin for the long term and it got me thinking what ways could we do to prevent us from being tempted to sell our bitcoins and spend it on unnecessary things

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

The title confused me a bit before reading the content, but it turns out you're talking about holding Bitcoin long-term, so it will truly be yours.

Well, basically, if someone wants to make a long-term investment, especially holding Bitcoin, what's needed is a good mindset and money management. Once those are implemented, the Bitcoin they own will truly be theirs for the long term. However, this isn't easy, it requires practice to achieve this goal, and it's all about consistency. Imagine, if someone has a bad mindset and poor money management when holding Bitcoin, then we can imagine the potential for them to sell it soon. This is usually because they will need the money at some point and will sell some, or even all, of their Bitcoin.

[Lucius]

~snip~
one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.
do you also do this and does it really work for you?

What nonsense is this? If something is mine, then it is mine and no self-measures can change that.

Such measures are needed in life by those who have an addiction, regardless of what it is - but unfortunately, they need much more than trying to control themselves. Besides, some people act like they'll live forever - I say that time is the most valuable thing we have, and what you don't do today you might not have the chance to do tomorrow.

My BTC is truly mine in the literal sense of the word, just self-custody and air-gapped wallets, which is quite enough to prevent me from spending it on something stupid.

[nemesis_incarnate]

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

I don't think this can be an effective way to prevent us from spending from the asset we are holding, what about if we consider time lock, whereby until a certain time reached before you can ha e access to it, we can as well make use of a safety storage whereby we don't have access to the coins as we safe keep the keys somewhere secured as backup to our wallet.

Agreed.

To not to want to sell your BTC while you own it is to understand it and why you hodl at all.

[Synchronice]

i am aware we all have different strategies and goals for our investments but i am sure that a lot of us are planning to hold bitcoin for the long term and it got me thinking what ways could we do to prevent us from being tempted to sell our bitcoins and spend it on unnecessary things

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

I think that if someone doesn't have that much willpower and discipline to not touch Bitcoins that he/she intended for storing long-term, then the first thing that these people have to do is to work on it because it will help them in life and boost them in every way.
Anyways, there is one option for those who don't have high self-control. You can use timelock in this case. Timelock allows you to create a Bitcoin transaction in a way that the recipient of the output won't be able to spend them for a specific time. If you choose 5 years, you wont' be able to spend them for 5 years, doesn't matter how much you want it, so, it's a nice deal in this situation.