Risk of holding bitcoin forever

[JoyceBTC]

Their fate can’t be similar to someone who is investing now. As you said they forgot about it and even forgot their seed phrase which might be a case of carelessness, although some certain circumstances might have taken place. Because seed phrase are meant to be kept safe and it is advisable to safe both online and offline since it is very important to you and you as well have a goal to achieve which is why it is very important to keep safe.

[MarjorieZimmermanGinger]

Those who invested in bitcoin at the time when it was launched and forgot about it, there are many among these who forgot their password. That is like losing all your money just because you held very long. Those who are investing now and plan to hold forever, are they in better position or their fate will be similar ?

In the early days of Bitcoin cases of Bitcoin loss due to lack of access to a storage wallet were probably much more frequent. However, now people are much more careful about this issue. Every time they create a wallet, they first save their passphrase so they can recover it in case something unexpected happens. Everyone learns from their mistakes and I believe now people are much more careful about this issue and will try to be much more thoughtful about storing their passphrases. Nowadays, storage methods are much more diverse, with certain methods available, but even small mistakes can also endanger their assets, as recovery cannot be achieved. That's why storing their passphrases properly is so important.

[Anik_Elft]

It is not easy to hold forever because they must really careful storing the wallet. They need to have strong hand to hodl and not tempting to sell even if they see the high price. The early investors lose their wallet because they underestimate Bitcoin will not grow like today so they just stored Bitcoin carelessness.

We have a better situation and learning from many good resources. We can improving our knowledge and know how to secure our wallets better. I don't wants hodl forever but will sell at ATH. I also trade Bitcoin to make a profit.

Bet, holding isnt easy, it's not just waiting forever, you also have to keep your wallet safe and not panic when the price moves fast.
A lot of early people lost coins because they didn't back up their seed phrase properly, or they kept it in risky places. Now we know better. Keep the seed offline, make a backup, don't share it, and use 2FA if you're using an exchange. If it's a bigger amount a hardware wallet is worth it.

And its totally fine if you don't want to hold forever. Just have a plan before the hype hits. Sell at ATH is hard to time, so selling in parts on the way up usually works better than trying to hit the exact top. If you trade, it also helps to keep your trading money separate from what you want to hold long term.

[Out of mind]

Those who invested in bitcoin at the time when it was launched and forgot about it, there are many among these who forgot their password. That is like losing all your money just because you held very long. Those who are investing now and plan to hold forever, are they in better position or their fate will be similar ?

Those who invested in Bitcoin from the beginning and were able to keep their wallet passwords well protected are the only ones who have been able to become very financially prosperous. And those who underestimated and did not keep their wallet passwords in a safe place have certainly lost their Bitcoin and now they regret it a lot. Basically, by investing in Bitcoin, you must evaluate it and if you keep it for a long time, you must keep its keys in a safe place so that the next generation can access the wallet with that key. However, if we invest in Bitcoin and hold it for a specified period of time, then it is definitely possible to earn good financial profits. There are many who invest for a long time, especially for 5 years and 10 years. Those who invest for a long time, they must first keep their wallet keys in a safe place, and later they hold them.

[cxtreenal]

Those who invested in bitcoin at the time when it was launched and forgot about it, there are many among these who forgot their password. That is like losing all your money just because you held very long. Those who are investing now and plan to hold forever, are they in better position or their fate will be similar ?

In the launched of Bitcoin when the value of Bitcoin was low, some investors probably did not much attention to the security of their portfolios. Many of them may have lost their security keys and seed phrases. There are many differences between then and now because investors are much more aware of the security of their Bitcoin portfolios than before. When I was in the early stages of Bitcoin, I first asked experienced investors about the security of this digital asset because many digital assets have been stolen through online hacking in the past. Such incidents are happening today and will continue to happen in the future. Due to Bitcoin being a decentralised digital asset and its increasing value many investors are much more aware of its security than before.

[Easteregg69]

Those who invested in Bitcoin from the beginning and were able to keep their wallet passwords well protected are the only ones who have been able to become very financially prosperous.

Chop chop. You just need a 12-whatever word phrase to run the wallet. No password. You knew that.

[Cyber_warrior]

Those who invested in bitcoin at the time when it was launched and forgot about it, there are many among these who forgot their password. That is like losing all your money just because you held very long. Those who are investing now and plan to hold forever, are they in better position or their fate will be similar ?

Many of them forgot their passwords because it was too early when they got it and they knew only little about it then. No one knew Bitcoin would rise so high the way it did that's why they didn't bother to safe guard their passwords well. People who lost assess to their assets because of password loss will wish they can be given another chance now but it's not happening.
For this investing now I don't think the feeling will be like that of those that invested long time ago no matter how long they intend to hold. With the current value of Bitcoin nobody will buy and forget the password for their wallets, it will be difficult.

[Easteregg69]

You don't seem to get it.

You save the mnemonic phrase on a piece of paper. 12 or more words that is spelled correctly. Never tried wild wildcards.. Even better . Print a screen shot of it just in case and save a text file for copy paste.

If someone threatens you with a wrench. Then you can give them that. Trying to be funny. Perhaps you go custodial later on.

Some would be unbanked comes to mind.

[JoyMarsha]

Everyone's fate must not be the same time in this crypto space. There are people who are not careless with their seed phrase, they safeguard it not misplace it because they know the importance. It's those who don't know the importance of the seed phrase, who will find losing their seed phrase. And that's the most common case you will hear of, those who don't keep their seed phrase safe. It could happen to anyone, who is less aware of the importance of the seed phrase.

[HelliumZ]

Those who invested in bitcoin at the time when it was launched and forgot about it, there are many among these who forgot their password. That is like losing all your money just because you held very long. Those who are investing now and plan to hold forever, are they in better position or their fate will be similar ?

How can those who have invested in Bitcoin after it was created and lost the security of their wallet recover their Bitcoin? Those who have not lost it have not had any problems with their Bitcoin. Many people have carelessly not given importance to the security of their wallet, due to which they are currently unable to access it due to not giving importance to their security. Or they have forgotten it or a third party has stolen it from the place where they stored it. It is not that they cannot access it with such a password due to holding it in the Bitcoin wallet for a long time. Rather, they are currently unable to access their wallet due to forgetting it or losing it or not writing it down carelessly.

[Hamza2424]

Those who invested in bitcoin at the time when it was launched and forgot about it, there are many among these who forgot their password. That is like losing all your money just because you held very long. Those who are investing now and plan to hold forever, are they in better position or their fate will be similar ?

Bro what are you saying? Those who bought in 2014 and lost their keys and have zero bitcoin now how can they be in better positions than those who at least own $1000 worth of bitcoin. It is like comparing $1000 to 0, this is no match.

There is a risk in holding it always, you just have to be careful with the backup of keys. I think you read that Stefan Thomas case, its topic was open in another board, well bro, he overrode the security measures and he did not keep keys or password somewhere safe. It was his own mistake, so don't worry and find yourself to be in a better position than those who lost it all.

[Cookdata]

Those who invested in bitcoin at the time when it was launched and forgot about it, there are many among these who forgot their password. That is like losing all your money just because you held very long. Those who are investing now and plan to hold forever, are they in better position or their fate will be similar ?

You just made me remember this guy that discarded an hardrive where he mine thousands of Bitcoin, about 8000 or so and couldn't see it again, that's literally a lost private keys forever, that means that is out of circulation. There could be more thousands of Bitcoin that were mined this way but the owners couldn't access them again, however I don't think anyone would have invested in Bitcoin years back and today there is going to be a person that would have forgotten, it's not possible.

Hold is subjective and entitled to what anyone wish to do with his Bitcoin. Some owners of Bitcoin are doing well that selling Bitcoin might be the last thing they may want to do. You can never see such people try and sell their Bitcoin and there are some that has been holding way back but sold before this dump, it's up to the user holding and not about others opinions.

[Nothingtodo]

There is no risk in holding Bitcoin for the long term if you can store the seed phrase of that wallet in a correct and safe place. But those who do not store it in a correct and safe place and did not write down their wallet seed phrase correctly, they simply could not recover the wallet after installing the wallet later. This is not the case for everyone but for those who made mistakes, those who were able to store it correctly did not experience such a risk.