your bitcoin is not yours.

[moneystery]

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

Resisting the temptation to sell can be quite difficult for some people, because seeing a decent profit often creates a strong urge to cash out. However, those who truly understand Bitcoin investing won’t be tempted to settle for small profits at certain moments. Instead, they focus on their long-term goals and remain consistent in their investments. Maintaining this discipline isn’t as hard as it seems, if they build the right mindset from the beginning, they won’t easily sell for unnecessary reasons.

[edroi]

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?

honestly.. i don’t try to (forget) my bitcoin.. i just think of it as something i have already locked away for my future self.. for me the trick is not mixing it with my everyday money.. if i ever see it as (spending cash) i will probably get tempted but when i treat it like it’s completely off limits.. kind of like savings i can’t touch.. then i stop thinking about selling it every time the price moves

so i guess for me it’s not about pretending it’s not mine but about seeing it as mine later.. not mine now

[Stalker22]

honestly.. i don’t try to (forget) my bitcoin.. i just think of it as something i have already locked away for my future self.. for me the trick is not mixing it with my everyday money.. if i ever see it as (spending cash) i will probably get tempted but when i treat it like it’s completely off limits.. kind of like savings i can’t touch.. then i stop thinking about selling it every time the price moves

so i guess for me it’s not about pretending it’s not mine but about seeing it as mine later.. not mine now

Honestly, you got the right idea. Im not trying to forget Bitcoin. Nah, its more about treating it as something completely separate from your everyday money.

Personally, I just see it as a stash for the long haul - like, long-term savings or somenthing.  The second you treat it like spending  cash, those crazy price swings start messing with your head.  Next thing you know, you are panic-selling or FOMO-buying, and boom!  Bye-bye money. 

[tech30338]

honestly.. i don’t try to (forget) my bitcoin.. i just think of it as something i have already locked away for my future self.. for me the trick is not mixing it with my everyday money.. if i ever see it as (spending cash) i will probably get tempted but when i treat it like it’s completely off limits.. kind of like savings i can’t touch.. then i stop thinking about selling it every time the price moves

so i guess for me it’s not about pretending it’s not mine but about seeing it as mine later.. not mine now

Honestly, you got the right idea. Im not trying to forget Bitcoin. Nah, its more about treating it as something completely separate from your everyday money.

Personally, I just see it as a stash for the long haul - like, long-term savings or somenthing.  The second you treat it like spending  cash, those crazy price swings start messing with your head.  Next thing you know, you are panic-selling or FOMO-buying, and boom!  Bye-bye money. 

If you put everything in bitcoin you have no choice but to pull it out, if you need something, the best way is put money that you are not going to touch for a long time making like a percentage that is really for bitcoin and wont be needing, that is why its much better if slowly buying bitcoin not at one go, because it will just make you in a state of not moving because you already put everything, keep some for other things, you can always buy the next month or every 15 days, depends on what you have, in my opinion.

[Crypto Library]

Bitcoin investors can't afford to wait five or ten years without touching their investment. Those who invest in cryptocurrency are looking to make a lot of money quickly and get rich, so waiting isn't something they can afford.
If you have your wallet password and your money has doubled or tripled in value, you'll definitely sell it and buy something with the proceeds

You didn't say anything bad, most of us have this tendency to get rich very easily. But I think we shouldn't expect it, investing in cryptocurrency or Bitcoin is not like gambling.
To invest here, we need to know the analysis and book a profit by investing on it. In this case, of course, we shouldn't expect any unrealistic amount. We have to remember that Bitcoin is not a get-rich-quick scheme where we will become rich overnight.

[ChocolateBitcoinK]

Bitcoin investors can't afford to wait five or ten years without touching their investment. Those who invest in cryptocurrency are looking to make a lot of money quickly and get rich, so waiting isn't something they can afford.
If you have your wallet password and your money has doubled or tripled in value, you'll definitely sell it and buy something with the proceeds

You didn't say anything bad, most of us have this tendency to get rich very easily. But I think we shouldn't expect it, investing in cryptocurrency or Bitcoin is not like gambling.
To invest here, we need to know the analysis and book a profit by investing on it. In this case, of course, we shouldn't expect any unrealistic amount. We have to remember that Bitcoin is not a get-rich-quick scheme where we will become rich overnight.

I agree with you, especially in order to achieve success from Bitcoin investment, you need to be patient enough, it is a long-term commitment and it is a volatile currency, it is never a shortcut to get rich scheme. Those who think of getting rich quickly through this and want to achieve success here through short-term trading often face losses. Only long-term holders have the highest chance of success in Bitcoin investment, because it moves with volatility in the short term, but in the long term it continues to be valuable, so the highest chance of achieving its success will come as a result of long-term holding.

[mak013]

Bitcoin investors can't afford to wait five or ten years without touching their investment. Those who invest in cryptocurrency are looking to make a lot of money quickly and get rich, so waiting isn't something they can afford.
If you have your wallet password and your money has doubled or tripled in value, you'll definitely sell it and buy something with the proceeds

Cmon. Such words are true for small business. They have a goal to catch a profit and run away. To be honest, my buy/sell in BTC were about +50 - +200 percent, and i never was 100% right when decided to buy and to sell.
Today i think that BTC can`t give you x10 or more, just be happy to get 10-20%.
But old holders today get x100-x1000. But i`m sure that we willn`t know their names.

[Somto9Light]

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

Firstly, as a bitcoin investor there are some certain things that need to put in place before you can be able to leave your bitcoin untouched until you reach the status of overaccumulation,  the things that can protect you from not tempering your bitcoin investment until when you reach your investment goal is your emergency fund and reserve funds or backup funds, this are the tools that can guide you throughout your accumulation journey.

failure to make this above mentioned funds available would lead you into messing your investment up, probably when there is a call for emergency. So as a bitcoin investor you really need to make this above mentioned funds available for security reasons.

[uefbv]

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?

Whether you can truly hold Bitcoin for the long term depends on private key management, not time. Before taking any action, I believe you should first consider whether you can afford the worst-case risk. If you can, then go for it, ensuring you're prepared to avoid losing too much. If not, I recommend avoiding it. There aren't many lucky people in the world; no one gets rich overnight. Investing in Bitcoin requires patience, much like raising a child: how much do you invest? You'll get a commensurate return, as you can't raise a child overnight.

[X-ray]

Cmon. Such words are true for small business. They have a goal to catch a profit and run away. To be honest, my buy/sell in BTC were about +50 - +200 percent, and i never was 100% right when decided to buy and to sell.
Today i think that BTC can`t give you x10 or more, just be happy to get 10-20%.
But old holders today get x100-x1000. But i`m sure that we willn`t know their names.

Even 20% gain over a year is already massive in investment world.

Apparently if you see current BTC growth, it did more than 5 times already from lowest price at bearish and up until now.

Since BTC is projected to reach 1 million anyway, I'm sure it can still do 10x in the future. Just matter of whether you have the patience to wait and whether you have diamond hands.

[HelliumZ]

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.

If you are going to hold Bitcoin, you must hold it for the long term, especially since it is not possible to make any significant profit from Bitcoin by holding it for the short term. Just like in FD, money is kept in the bank for a period of ten years or five years and after ten years, the capital is returned along with profit. Similarly, we also have to hold Bitcoin for a long term, that must be five or 10 years, only then can we get a profit of ten to 20 times the investment.

Bitcoin investors can't afford to wait five or ten years without touching their investment. Those who invest in cryptocurrency are looking to make a lot of money quickly and get rich, so waiting isn't something they can afford.
If you have your wallet password and your money has doubled or tripled in value, you'll definitely sell it and buy something with the proceeds

It's not realistic to wait that long, especially since I have some Bitcoins that I check my wallet at least once a day. Although I've been planning to hold them for a long time, it doesn't seem realistic to me. I can't wait 5 or 10 years. I've probably made some profit and I'll sell my Bitcoin and hold it in USDT and if the market goes into a buying correction/dumping next time, I'll reinvest with my dollars.

[mak013]

Cmon. Such words are true for small business. They have a goal to catch a profit and run away. To be honest, my buy/sell in BTC were about +50 - +200 percent, and i never was 100% right when decided to buy and to sell.
Today i think that BTC can`t give you x10 or more, just be happy to get 10-20%.
But old holders today get x100-x1000. But i`m sure that we willn`t know their names.

Even 20% gain over a year is already massive in investment world.

Apparently if you see current BTC growth, it did more than 5 times already from lowest price at bearish and up until now.

Since BTC is projected to reach 1 million anyway, I'm sure it can still do 10x in the future. Just matter of whether you have the patience to wait and whether you have diamond hands.

I agree. 20% per year is good for everybody. But i would like to get 20% every year. I don`t sure that if i would by BTC today, i would get such percent. It`s cost is too high as for me. And i know myself, i`ll sell when it would be x2-x3.

[bitloverita]

I think the key point here is balance. Bitcoin has already proven that it can deliver life-changing gains for those who held long enough, but expecting x100 every cycle isn’t realistic anymore. At the same time, treating BTC like quick spending money usually ends with panic selling or FOMO buying, as some of you have already said.

For me, the most effective strategy is a mix: I set aside a portion of my Bitcoin as a true long-term hold (money I’ve written off as “future me’s savings”), and another smaller portion that I allow myself to trade or take profit from if it doubles or triples. That way, I stay disciplined but don’t feel like I’m “missing out” completely on shorter-term opportunities.

At the end of the day, whether you aim for 20% a year or wait 10 years for to see Bitcoin 10x, it really comes down to patience and making sure you don’t invest money you’ll need for daily life. If you can separate those two, it’s a lot easier not to be tempted every time the market moves.

[coyhasmon]

I agree. 20% per year is good for everybody. But i would like to get 20% every year. I don`t sure that if i would by BTC today, i would get such percent. It`s cost is too high as for me.

20% per year is a dream percentage, most people fail to make 5% per year. Don't joke around these things with made up numbers. Most people don't even make 2% per year consistently.

And i know myself, i`ll sell when it would be x2-x3.

Then you are better to deal with altcoins, Bitcoin is not for selling.

[FortuneFollower]

Then you are better to deal with altcoins, Bitcoin is not for selling.

Everybody puts their own targets, so BTC is suited for everyone, though, hodling it is the best course, it's not out of the picture for some.

[Humblevirus]

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 main reason why many people are always willing to sell their Bitcoin when the price is rising or falling but are willing to hold it long term is all because of confidence. We don't have full confidence in Bitcoin that much. If not, we would see some people treat Bitcoin the way they treat other investments.for example, if someone invested in land, they would hardly sell, even when the price of the land is rising significantly. The common belief would be that the price will continue to rise. So, what I’m trying to say is this: if Bitcoin were treated like other investments, it would be much harder for people to sell their Bitcoin before the time they originally planned to.Another way to prevent someone from quickly selling their Bitcoin is to always invest only what he or she can afford to lose.

[arabspaceship123]

It isn't they're holding selling & buying because of confidence in bitcoin. Some ppl want to hold because they're sure they'll get more profit but can't wait. One day we're going to need money in emergency situations if ppl can't hold they'll sell. Their confidence in bitcoin doesn't change their mind.

The main reason why many people are always willing to sell their Bitcoin when the price is rising or falling but are willing to hold it long term is all because of confidence. We don't have full confidence in Bitcoin that much. If not, we would see some people treat Bitcoin the way they treat other investments.for example, if someone invested in land, they would hardly sell, even when the price of the land is rising significantly. The common belief would be that the price will continue to rise. So, what I’m trying to say is this: if Bitcoin were treated like other investments, it would be much harder for people to sell their Bitcoin before the time they originally planned to.Another way to prevent someone from quickly selling their Bitcoin is to always invest only what he or she can afford to lose.

[gogarza63@hotmail.com]

Hopefully there isn't a precedent set for the 'set it and forget it strategy'. It's proven the most profitable time and time again. Patience is a virtue and an elephant never forgets.

[mak013]

I agree. 20% per year is good for everybody. But i would like to get 20% every year. I don`t sure that if i would by BTC today, i would get such percent. It`s cost is too high as for me.

20% per year is a dream percentage, most people fail to make 5% per year. Don't joke around these things with made up numbers. Most people don't even make 2% per year consistently.

And i know myself, i`ll sell when it would be x2-x3.

Then you are better to deal with altcoins, Bitcoin is not for selling.

First of all. Where i said that i get 20% every year? oO I want don`t equal i get.
Second. I don`t know where you get statistics, i don`t have information about 2% or 5%. For me normal profit 7-12% per year. For my country it is normal profit. It is without cryptocurrency, just fiat money.
Third. I can decide what cryptocurrency i would buy/sell myself. x2 in BTC for 3-4 years would be good profit for me. Altcoins that can give huge profit can scam easily. Big altcoins wouldn`t give x10-x20.

[arabspaceship123]

You have strategies which work for your income and investment plan. Other people invest based on their income. If people find a personal investment strategy like you found, they could have profit when they are selling Bitcoin or any altcoins.

First of all. Where i said that i get 20% every year? oO I want don`t equal i get.
Second. I don`t know where you get statistics, i don`t have information about 2% or 5%. For me normal profit 7-12% per year. For my country it is normal profit. It is without cryptocurrency, just fiat money.
Third. I can decide what cryptocurrency i would buy/sell myself. x2 in BTC for 3-4 years would be good profit for me. Altcoins that can give huge profit can scam easily. Big altcoins wouldn`t give x10-x20.