Is the recommendation to HODL Bitcoin, to hodl it forever, or...

[finaleshot2016]

Being new to Bitcoin I learned how a misspelling of the word 'hold' turned into HODL -  a backronym or phrase standing for 'hold on for dear life' - - and this backronym is used often by a number of people.

So, my question is pretty simple. Is the recommendation to HODL Bitcoin, to hodl forever, or until the owner really, really needs (or really wants) currency for something important - with the intent to only sell a fraction of the BTC he has and continue hodling the remaining?  

Just how do you define your hodling recommendation? Is it really forever or does it have any exceptions?  

You are more than welcome to take profits if you need them. You could even take all the BTC and trade it for fiat or things you want/need. But the consensus in the Bitcoin (and even the cryptocurrency community) is that Bitcoin will go much higher, being the deflationary, revolutionary and young new generation of money that it is. But as I said, feel free to empty your bags, just be sure not to regret your decision in the future.

True, don't put too much pressure on yourself by having doubts on decisions. If you really feel to take profit and you feel happy about it, then it's fine, no one can predict when or how will bitcoin survive in few months but as long as you're making progress on your portfolio, it's okay.

As long as you've sold the bags from a good multiplier like you've got a good entry then it's all worth it, bitcoin can still grow in the future, the narrative of being a digital gold still remains so it's up to you when you should sell the bags. The important thing here is just don't sell it at lose because it'll ruin your momentum.

[Synchronice]

Being new to Bitcoin I learned how a misspelling of the word 'hold' turned into HODL -  a backronym or phrase standing for 'hold on for dear life' - - and this backronym is used often by a number of people.

So, my question is pretty simple. Is the recommendation to HODL Bitcoin, to hodl forever, or until the owner really, really needs (or really wants) currency for something important - with the intent to only sell a fraction of the BTC he has and continue hodling the remaining?  

Just how do you define your hodling recommendation? Is it really forever or does it have any exceptions?  

Seriously, what's the point of HODLing forever? Do you want to be a rich guy who lived like a poor and in life, he didn't experience anything better than a random poor person? Then what's the point of money? If you can't get some fun and experience another level of life, then what's the point? I want to become rich to live on another level, to have all the fun, travel and so on.

I recommend to hold long-term but should not make it a lifetime commitment. Just invest in it, hold it enough to see double or triple digits profit going up and then sell if you need money, then wait for the price to fall and buy again, this way you'll have a profit that you can spend easily while you'll get the same amount of coins. You should calculate profit in coins, not in US dollars. If I bought 0.1 Bitcoin at 100K, sold it at 120K, had a fun worth of 20K and then I later bought 0.1 Bitcoin at 100K, this means that I'm holding the right way.

[bhadz]

Just how do you define your hodling recommendation? Is it really forever or does it have any exceptions?  

It can be part of your retirement fund but at least you've got to enjoy the labor of your patience in holding.

I get enjoyment in a lot of different ways, and one way is in the results of good investments...

Yes, that's why you have got to be a good investor and take it we're on the right time, the profits. Because many of the investors look only into it as a short term investment and when they are able to make some money in it, they think that it's enough and it will no longer continue to happen to them. So, good investments comes from taking risk at the beginning and believing on assets like Bitcoin. There is no other crypto that's better than it.

[irhact]

So, my question is pretty simple. Is the recommendation to HODL Bitcoin, to hodl forever, or until the owner really, really needs (or really wants) currency for something important - with the intent to only sell a fraction of the BTC he has and continue hodling the remaining?  

Just how do you define your hodling recommendation? Is it really forever or does it have any exceptions?  

We as different individual should have our own definition for what hodling is to us because we can't be having a general description when we have different reasons why we're investing in Bitcoin. I can hodl for many years because I might'nt have a reason to make use of my Bitcoin now but for others that might have urgent need for money, they can go ahead and sell some of the Bitcoin they hodl to tackle that money needing situation. It doesn't make any sense that you'll have money and can't use it for your basic needs therefore our needs should always be prioritised before anything else because living is more important than any investments.

[skarais]

~~~

True, don't put too much pressure on yourself by having doubts on decisions. If you really feel to take profit and you feel happy about it, then it's fine, no one can predict when or how will bitcoin survive in few months but as long as you're making progress on your portfolio, it's okay.

As long as you've sold the bags from a good multiplier like you've got a good entry then it's all worth it, bitcoin can still grow in the future, the narrative of being a digital gold still remains so it's up to you when you should sell the bags. The important thing here is just don't sell it at lose because it'll ruin your momentum.

You're right, anyone can sell at any price as long as they get a return. It doesn't matter how much profit they make, when they decide to sell, they should be happy with the profit. Someone may of course regret their decision to sell early when the bitcoin price rises even higher after they sell, but they forget that the market still gives them the opportunity to buy back at a different price and take advantage of the volatility to make a profit.

There are certainly reasons for holding Bitcoin longer, one of which is to maximize its long-term potential. Investors who sell early certainly benefit, but long-term holders will undoubtedly reap greater gains if Bitcoin's price continues to rise. There's no need to feel bad, everyone has their own reasons for selling.

[Botnake]

That depends on the hodler itself. But as for me, I do hodl it for quite longer but have actual plans to sell my coins when there is a need of emergency funds, or when the right time and the perfect price has come to sell off my coins. While some hodl for their future usage, but others are certainly hodling for life, and for their retirement purposes.

Just do whatever is convenient for you. After all, we do have different goals with bitcoin. And we will achieve them in different timeline.

[nullama]

It's an investment, so you keep it because it grows over time.

The most reasonable ways to sell Bitcoin would be to buy another asset, like a house for example.

If you're in a bad financial situation and need liquidity fast, you could also sell it to remove the bad situation immediately.

But selling Bitcoin for fiat just so that you have fiat makes no much sense as fiat depreciates over time and Bitcoin does the opposite.

That's why it's usually better to just hodl, specially if your girlfriend is at a lesbian bar and you're drinking whiskey.

[icebar]

Holding does not mean that you have to hold it for the rest of your life. Everyone will try to hold Bitcoin according to their goals and needs. Some may hold it until the end of their working life, some for their next generation, or for a few years. Anyone can hold Bitcoin according to their wishes. The demand for Bitcoin is increasing and will continue to do so in the future. Although Bitcoin is not very effective in the short term, long-term holders will definitely expect a good return from Bitcoin. If a Bitcoin holder can hold it for at least two cycles, keeping in mind the long-term goal, he will be able to get a return of several times the assets he holds. He will decide when to sell his Bitcoin according to his needs.

[lovesmayfamilis]

What does it mean to hold Bitcoin forever? Who among the users has acquired immortality? Therefore, your wording, OP, should not be understood literally. But you are, in a sense, on the right track with the idea of holding, the idea of investing in Bitcoin, and holding it until the owner understands that his goals have somehow been achieved, and he is ready to sell. But again, the right move would be to sell the profit in parts, only some parts, and then, if the next stage is possible, continue accumulating.

[tygeade]

Holding (or HODLing) refers to keeping Bitcoin for a certain period of time waiting until the price of Bitcoin increases and the holder can make a reasonable profit from it. Holding can last for a year, four years, ten years or even longer, depending on how much the price of Bitcoin rises to the point where the investor is satisfied with the profit and sell to take the profits.the reason why many people prefer to hold for a long term like 4 to 10 years or more is because of the Bitcoin halving. Every four years a Bitcoin halving occurs, and after each halving, there is usually a bullrun a period when the price of Bitcoin moves to a new ATH  This is based on Bitcoin history.

There has been cases, where people are either passed away, or in prison, or just forget their access, and either someone else, or them, finally get an access, and they made huge amount. Just recently, some person who had 80k bitcoins from the early satoshi days, cashed it out for 9 billion dollars.

Imagine the thrill of that, no idea if he was in prison or if that money was stolen, no idea how he waited this long, I mean you say no to 1 million, sure, weird, but ok, then you say no to 10 million, weird, you are crazy, you say no to 100 million??? You are certifiably insane. This dude said no to 1 billon! dollars and waited until 9. How can you even do that, I always like to assume because they couldn't sell, not because they didn't, otherwise it's hard to believe it.

[Marykeller]

Are we are to live forever? Who among us is to live forever? I think no one. Since there's no one, I believe we will all sell our Bitcoin someday at different time and price when we feel like. That doesn't mean any time we sell our Bitcoin that will be the end of accumulation of it. It's not, the goal of making profits for each Bitcoin buy for long term gains will still be there

[noormcs5]

Being new to Bitcoin I learned how a misspelling of the word 'hold' turned into HODL -  a backronym or phrase standing for 'hold on for dear life' - - and this backronym is used often by a number of people.

So, my question is pretty simple. Is the recommendation to HODL Bitcoin, to hodl forever, or until the owner really, really needs (or really wants) currency for something important - with the intent to only sell a fraction of the BTC he has and continue hodling the remaining?  

Just how do you define your hodling recommendation? Is it really forever or does it have any exceptions?  

There should be some amount of bitcoin that you may hold for your lifetime and never sell. Maybe the next generation may get the benefit of that holding if not us. This is similar to people buying and holding land and property for life and never selling it, no matter how high the price reaches.

However, over the last few years, as we have known the bitcoin 4-year cycle, it is better to sell some bitcoin at the bull market peak and then buy back in the bear market. This way you can increase your bitcoin holding too.

[sokani]

So, my question is pretty simple. Is the recommendation to HODL Bitcoin, to hodl forever, or until the owner really, really needs (or really wants) currency for something important - with the intent to only sell a fraction of the BTC he has and continue hodling the remaining?  

Everyone buying Bitcoin has different goals. Some are temporary profit takers while others are long term holders and just so you know, no one can hodl Bitcoin forever. At some point, either you're going to sell it off, pass it on to your family, or die and leave the bitcoin. If you choose to sell part of it for whatever reason, no one is going to crucify you for that. It's not such a bad idea to sell and use the money for something else.

[Ultegra134]

Seriously, what's the point of HODLing forever? Do you want to be a rich guy who lived like a poor and in life, he didn't experience anything better than a random poor person? Then what's the point of money? If you can't get some fun and experience another level of life, then what's the point? I want to become rich to live on another level, to have all the fun, travel and so on.

I recommend to hold long-term but should not make it a lifetime commitment. Just invest in it, hold it enough to see double or triple digits profit going up and then sell if you need money, then wait for the price to fall and buy again, this way you'll have a profit that you can spend easily while you'll get the same amount of coins. You should calculate profit in coins, not in US dollars. If I bought 0.1 Bitcoin at 100K, sold it at 120K, had a fun worth of 20K and then I later bought 0.1 Bitcoin at 100K, this means that I'm holding the right way.

I don't understand that either. There's no point in holding forever, at some point, you'll be "forced" to sell, and exchange into fiat. No one in the right mind (with a few exceptions perhaps) would keep it as Bitcoin, and I'm talking about the average user here, not some huge investor that holds thousands coins. Bitcoin is a long-term commitment, I've been actively holding again since early 2021, acquring little by little, and I'm not planning to sell anytime soon. However, I acknowledge that sooner or later, I'll have to exchange into fiat, a process I'm yet to think of how to do though.

[_BlackStar]

If someone comes to me and asks about what he should do with his bitcoin - then I will give him two options without forcing either one. If he wants quick profits, he should be a trader with a relatively lower percentage return. However, if he wants higher percentage returns, he should be a long-term holder or investor. The two options above really depend on what the main goal is of getting involved in the bitcoin market - the approach can vary.

I never advise someone to be a holder forever - but if that is a big plan for their children's future ^{[inheritance]} then that is their choice. Some people may have considered bitcoin as an asset they could pass on to their children in the future. They bought it and hold it, unwilling to sell it even after it hit a new all-time high. This idea isn't wrong, but I don't see any reason not to capitalize on two different cycles and make good profits.

[bitzizzix]

What does it mean to hold Bitcoin forever? Who among the users has acquired immortality? Therefore, your wording, OP, should not be understood literally. But you are, in a sense, on the right track with the idea of holding, the idea of investing in Bitcoin, and holding it until the owner understands that his goals have somehow been achieved, and he is ready to sell. But again, the right move would be to sell the profit in parts, only some parts, and then, if the next stage is possible, continue accumulating.

I agree that achieving a goal is something you should set before investing in Bitcoin, and you should have one. The goal I'm referring to is the same as a target, and a target is when you've achieved your desired profit and are ready to sell because you've achieved that goal.
Treating Bitcoin with a long-term goal is certainly the right choice when it comes to profit, but that doesn't mean you have to be fixated on that goal. There's nothing wrong with selling your profits, or some of the profits you've made while holding Bitcoin, to enjoy them or fulfill your desires, and if Bitcoin is the solution, then do it.
I think holding it without owning anything is overkill, because you can actually earn or realize something from the profits you make from Bitcoin, or you can also take or use some of your Bitcoin profits to build a business. That's much better because it will support you in making more money and also support you in accumulating Bitcoin from the profits you make from Bitcoin and for Bitcoin. And that's a very smart thought and decision, and you will feel financially secure throughout your life and into the future.

[Alphakilo]

Just how do you define your hodling recommendation? Is it really forever or does it have any exceptions?  

My hold is not forever it cannot be. There is no use of holding bitcoin if I do not make use of it. In as much as it is planned for generational wealth, still doesn't mean that I shouldn't enjoy some part of it to have a good life.

There are people who are on the extreme on this and they have their different reasons which is good but what's the use of holding when you cannot enjoy its benefits. For beginners let knowledge guide you to make the decisions you choose to in the Bitcoin world and not trends or influencers.

[IjawMan]

Being new to Bitcoin I learned how a misspelling of the word 'hold' turned into HODL -  a backronym or phrase standing for 'hold on for dear life' - - and this backronym is used often by a number of people.

So, my question is pretty simple. Is the recommendation to HODL Bitcoin, to hodl forever, or until the owner really, really needs (or really wants) currency for something important - with the intent to only sell a fraction of the BTC he has and continue hodling the remaining?  

Just how do you define your hodling recommendation? Is it really forever or does it have any exceptions?  

Holding (or HODLing) refers to keeping Bitcoin for a certain period of time waiting until the price of Bitcoin increases and the holder can make a reasonable profit from it. Holding can last for a year, four years, ten years or even longer, depending on how much the price of Bitcoin rises to the point where the investor is satisfied with the profit and sell to take the profits.the reason why many people prefer to hold for a long term like 4 to 10 years or more is because of the Bitcoin halving. Every four years a Bitcoin halving occurs, and after each halving, there is usually a bullrun a period when the price of Bitcoin moves to a new ATH  This is based on Bitcoin history.

So, just imagine someone holding Bitcoin for 10 years that means they could witness two or more new ATHs. The profit made by that long-term holder is likely to be significantly higher than someone who only held Bitcoin for a year and then sold, based on past Bitcoin performance. holding Bitcoin doesn't mean you have to keep it in your wallet forever. It simply means holding until the price reaches a level you’re comfortable with and some choose to sell to take it aim profits.

Neatly executed to the question on ground as it should be. Investment is about patience and this metric of patience is subjective to each investor on how long they wish to hodl. If we are hodling on an investment for life without setting a periodic item of taking profit it makes the whole idea of investment less meaningful.
 There should be a duration in your holding and as profit is made you take it to solve other problems. Holding for life is what I understand to be not selling all your bitcoin holdings when profit is made but taking profit and still leaving some significantly amount of bitcoin left in your holding to yield more profit in the future.

[el kaka22]

I would say for me personally it is until retire it's for holding, but rest is unknown. Obviously I failed, and had to sell. Because I had to take a lot of debt for medical reasons, and because of that I had to pay a lot more, so we need to realize it is not going to be okay to take even more loans, since it would be weird. Think about getting 1 but paying back 2, why would I do that forever, so I sold my bitcoins and paid that way.

But ideally, I am saving whenever I can, and if I could do that, I will do until I retire. When I have enough to retire or old enough to retire, rest is unknown because it depends on that period. If I want to, I can sell it all if I have any, and then just live great retirement life, or maybe just keep, and sell chunks each month.

[m2017]

Being new to Bitcoin I learned how a misspelling of the word 'hold' turned into HODL -  a backronym or phrase standing for 'hold on for dear life' - - and this backronym is used often by a number of people.

It seems that the inventor of this word was simply a little drunk.

so i've had some whiskey
actually on the bottle it's spelled whisky
w/e
sue me
(but only if it's payable in BTC)

So, my question is pretty simple. Is the recommendation to HODL Bitcoin, to hodl forever, or until the owner really, really needs (or really wants) currency for something important - with the intent to only sell a fraction of the BTC he has and continue hodling the remaining?  

It is recommended that you do what YOURSELF thinks is right. No one can determine what will be the best action for you.

Just how do you define your hodling recommendation? Is it really forever or does it have any exceptions?  

Eternal hold is meaningless. Bitcoin should be useful, either to you personally or to the BTC-community. That is, coins should circulate, and therefore move from one user to another. Of course, eternal hold is also useful for the community in its own way, since by reducing the number of coins in circulation it will increase the value of each coin, but I believe that this is not the best use.