Many of us who have been in bitcoin and put bitcoin to actual practice realize that success in bitcoin comes from both HODL and ongoing, persistent, consistent, regular and perhaps even aggressive accumulation through buying (or perhaps earning) practices... So yeah, HODL is one part of the formula, yet HODL can really ONLY work if a reasonable decent sized stash is built.
Bitcoin always reward those that are patient to hold for long with some good number . That's why most time I'm always pained remembering the opportunity I missed then when I was still new to bitcoin. Thinking it was some kind of Ponzi scheme because I didn’t understand the technology behind it. But the main thing is that I’m still here, and I’m going to make the best of it.
Congratulations for still being here, yet I think that there is an ongoing lesson that involves ongoing hesitation instead of action, and perhaps Gamekyuubi suffered from that same thing around the time of his drunken post from 13 years ago, and also he likely suffered from such ongoing hesitation since I doubt that he really became both a HODLer and an accumulator in a meaningful and material way... and yeah, ONLY he will really know the extent to which his ongoing hesitation had remained an issue.
I did not read any of the posts beyond the announcement of a #hodl coin which I did not pay much attention to. Bitcoinlandia is the land of the free
For sure bitcoinlandia is the land of the free, and there have been and continue to be consequences for guys who fail/refuse to sufficiently and adequately stack bitcoin, even when they have had opportunities over the years... and for sure the longer that a guy had been in bitcoin, the more he could have had gotten away with being whimpy in his bitcoin accumulation and still profitted quite well, even from such whimpiness.
Since about March 2020, I have ongoingly asserted that guys need to purposefully be more aggressive than they had been in the past, and even suggesting that it takes more money to get similar results, yet at the same time, guys are going to do what they are going to do in terms of the level of their chosen aggressiveness, and level of chosen aggressiveness is a choice too.. a choice that has consequences, especially if looking 2-3 cycles into the future.
I have two questions for Gamekyuubi :
The first question is about the past...
Was it merely a coincidence that you created the term HODL exactly at that moment (December 18, 2013) when the best time to hodl Bitcoin had already passed?
Even though you sound a wee bit lost @JaanusRaim, you are pointing out a likely dilemma that Gamekyuubi and others had gone through around that time, since it tends to be hard as fuck to both hold and to continue to buy for any guys who started to buy at the top.
My own history in bitcoin starts with my buying at November/December 2013 top, which perhaps is part of the reason why I suggest that the solution in stacking and actually profiting when starting at or near the top is continuing to buy... which most likely is not what Gamekyuubi, since he largely disappeared from the forum for many years.
None the less, we can look back and see that even a relatively mild investment amount of
$50 per week starting in December 2013 would have resulted in about $33.6k, invested and a bitcoin stash of more than 23 bitcoin... but yeah, it pays to have will power, and so many guys started to buy bitcoin in and around 2013 but they did not stick with it. Many of them got shaken out in 2014 and 2015, and maybe they were delusional at various times after 2013 - even though over and over there had been chances to make up for their having had drifted into delusion.. and so even guys who might have had waited to get started until 2017, they might have had still been able to recover from their having had gone through a slow start.
So maybe
a guy who started investing in bitcoin in 2017 might have had to have had invested around $200 per week and invested in the ballpark of $100k or more in order to still get close to 11 bitcoin, yet it was still doable. For sure not a bad place to be. $100k invested and nearly 11 BTC. Many guys would be quite happy in being with that kind of a bitcoin stack size.
These days, no coiners and low coiners should still be investing, yet even if they invest $500 per week, they still might not be able to accumulate 1 bitcoin in the next 10-ish years... so $500 per week would be $25k per year and $250k after 10 years, and it may or may not be possible for bitcoin to average less than $250k in the next 10 years.. so there could be a bit of a struggle to get to 1 bitcoin, even for a guy who is willing to start right now with $500 per week and to continue for 10 years at $500 per week.
(The Bitcoin price growth during 5 years January 3, 2009 - December 18, 2013 was ca 500 000x (from $0.001 to $541),
the Bitcoin price growth during 13 years December 18, 2013 - October 10, 2026 was ca 150x (from $541 to $83068))
For sure a price curve that is less steep, yet I doubt that a less steep price curve justifies not getting started buying bitcoin.
The second question is about the future...
Bitcoin is not only all grown up (around 18 years old) but also mature: it has "reached the Moon", its market capitalization has surpassed the trillion-dollar mark, and it is now perceived as a genuine asset.
Meanwhile, all other cryptocurrencies remain "under the pull of Earth's gravity": they are not viewed as genuine assets, and no one would be surprised if their prices were to drop to zero.
What do you think, will the cryptocurrencies market develop at the similar size as the stock market and there will be many many Bitcoin-like trillion-dollar-market-cap cryptocurrencies or will the Bitcoin stay basically the only bird in the world ?
Of course, you @JaanusRaim seem distracted, like you (as a shitcoiner) is asking another shitcoiner how shitcoins are going to perform in the coming years. Great example of a lack of focus.. but hey, you do you.
GameKyuubi is probably not an isolated case in Bitcoinlandia. There are certainly a handful other
legends, perhaps more than a handful, who eventually turned into shitcoiners in the end.
It is not easy to not get sucked into shitcoins and/or trading. I am not going to deny that, especially for many guys who likely come to bitcoin with a pre-existing gambling mindset.
