The psychology of a HODLer

[seljo]

Hodling is a way of life. The important part of hodling is to have bitcoins and have absolutly no reason to sell them, the rest you can figure out yourself.

[frienemy]

It's like hodling your dick while peeing. If you let it go and try to catch it as it falls lower, you might end up in a great mess if you're not an expert. So the hodlers hodl on tight and believe in the potential of the thingy they hodl in their hands. Quite simple

Edit: I'm not shorting!

[spazzdla]

Hodling is a way of life. The important part of hodling is to have bitcoins and have absolutly no reason to sell them, the rest you can figure out yourself.

, I like this as I really have zero reason to ever sell.

[yenom]

Question is why? What is it? Desperation? Total mania? Tell me. I just can't explain it anymore.

Firstly TA is total bullshit.
Secondly, the fundamentals of bitcoin get stronger every day. Eventually they prevail and the value increases.

[sporket]

...
Secondly, the fundamentals of bitcoin get stronger every day. ...

What are these fundamentals and how are they getting stronger?

[jubalix]

ops brain is sporked by the magnitude of the change BTC is to human history. That's ok op....not everyone make it though the evolutionary filter.

[sporket]

wat
*word salad?

[ashaw596]

We hold, because we have no other choice psychologically speaking. Actualizing loss is very hard for people to do. No matter, we think of loss in USD and being left with only fiat and no chance of a rebound is too psychologically harming. Also this.
http://www.imgverse.com/tagged/mr-bean
http://www.brainlesstales.com/images/misc/bitcoin-roller-coaster.gif

Anyways. Meh. I'm holding. 

[freebit13]

Exactly this, not everybody bought in at the top a few months ago. I've already withdrawn my original fiat investment, bought mining hardware, handed out paper wallets to friends and family and I've still got enough coins to put a smile on my face.

It's not a religion, it's just that many of us see and understand the potential that bitcoin has and know that it will continue, regardless of the price on the exchanges and we will continue to support it accordingly.

P.S. Thanks so much for the OP, it has given me an insight into the psychology of a panic seller, I've never quite understood them, but now I see it's probably because they only got in with the prospect of making a quick buck and have no idea about the actual protocol...

I will bookmark this, just in case if things turn ugly. It will be a good testimony about the arrogance of some people on these boards during what might will be called 'the good old days' in the future. If selling without any losses  and after thinking about it for days makes me a panic seller, then that's ok. You are entitled to define 'a panic seller' as such.

No, this is what makes you a panic seller...

First of all: I'm no hodler. I cashed out when things got a bit too scary for my taste. Second of all: I feel bad for everyone that has lost money or is on the verge of losing money. You have my sympathy.

Blah, blah, blah..

You call it no religion, yet ironically immediatly start ranting about the 'potential' of Bitcoin. Apparantly you have to be part of the club to see the 'potential' first hand. Many still don't and many probably never will. But I guess that doesn't matter: you've set your mind on this.

Ranting? Really? Please re-read what I wrote, I was not ranting, I was merely stating my opinion. It's clear that you have some sort of bent against religion, but you can't go around comparing everything to it, it just makes you look uninformed.

Read the whitepaper, read some code, try to understand what the protocol is and what Satoshi has solved, you might understand a little better where some of us are coming from... it's not just blind faith, it's called education.

[piramida]

despite the serious situation Bitcoin is in

Ok I am sure you aren't really looking for an answer, but I'll answer anyway, pretending you actually want to know. Bitcoin is in no situation - in fact, it is stronger than ever, th network is growing at an amazing rate, bad exchange got weeded out, we have serious coverage in respectable media, and businesses are multiplying by the day. It was designed to work despite world-wide ban, so some countries taking a hostile approach is only a minor delay on the way to domination. Instead of 5 years it will take 6, big deal.

With that in mind, consider that owning bitcoin is the same as having some stock in this booming industry. Why would you sell when the fundamentals are greater than ever and the price is bottoming out at 25% of the all time high? Of course, you might for a short-term speculation or if you don't see the fundamentals (they are not measurable by the standards you are used to, and it is actually hard to see the real potential bitcoin network has at this point - not everyone is a visionary, some people need to be shown the end result application; thing is, when it will be available, the price would be not in three or four, but at least five digit range - because when everyone "gets it", demand would be way higher than when only a few understand).

So, tldr answer - we hold because we *know* bitcoin is just now raising from it's infant years. Stronger than ever. Short-term price is of no importance, unless you want to play the roulette, then it's fine, just don't try to judge those who see beyond 5-minute ticker. Right now (everything below $600) is a great buying opportunity, in 2015 people would brag that they bought bitcoins in three digits, mark my words.

[Syke]

It's like hodling your dick while peeing. If you let it go and try to catch it as it falls lower, you might end up in a great mess if you're not an expert. So the hodlers hodl on tight and believe in the potential of the thingy they hodl in their hands. Quite simple

Hodlers are long.

[njcarlos]

Well, I am looking for answers hence the topic . Nothing is set in stone for me personally, and I will adjust my opinion when necessary, especially if I feel that I'm 'off'.
Thanks for your clear answer.

No you weren't, you were looking to pick an argument like a child. No one looking for answers uses a passive aggressive tone with the person from whom they're seeking answers.

[cypherdoc]

It's nothing less than naive idealism to assume that Bitcoin will be allowed to go around unchecked by governments. They will not allow it.

isn't this a religious statement as well?

[dancupid]

I've held onto my Bitcoins through all this (again)
I'm just not willing to put then on an exchange - I lost $7000 and 250btc when Bitcoinica collapsed. I learnt my lesson.
I have my Bitcoins now and they are mine.

A bitcoin in the hand is worth two in the exchange.

[bitcoinsrus]

I've held onto my Bitcoins through all this (again)
I'm just not willing to put then on an exchange - I lost $7000 and 250btc when Bitcoinica collapsed. I learnt my lesson.
I have my Bitcoins now and they are mine.

A bitcoin in the hand is worth two in the exchange.

Wow 250 btc.

[piramida]

I've held onto my Bitcoins through all this (again)
I'm just not willing to put then on an exchange - I lost $7000 and 250btc when Bitcoinica collapsed. I learnt my lesson.
I have my Bitcoins now and they are mine.

A bitcoin in the hand is worth two in the exchange.

Wow 250 btc.

these were $10 coins, so $7000 is a much bigger loss. I gambled away like 500 back then; having 200 at some stupid site like bitcoinica was common.

[podyx]

I've held onto my Bitcoins through all this (again)
I'm just not willing to put then on an exchange - I lost $7000 and 250btc when Bitcoinica collapsed. I learnt my lesson.
I have my Bitcoins now and they are mine.

A bitcoin in the hand is worth two in the exchange.

Wow 250 btc.

these were $10 coins, so $7000 is a much bigger loss. I gambled away like 500 back then; having 200 at some stupid site like bitcoinica was common.

In my opinion he lost 250(btc)x430=$__

Saying that he lost $2500 because he bought at $10 is kinda like saying bill gates is broke cause it's a time question of when the dollar collapse(Yes, I do realize he's diversifying, it's not literally..)

[dancupid]

I've held onto my Bitcoins through all this (again)
I'm just not willing to put then on an exchange - I lost $7000 and 250btc when Bitcoinica collapsed. I learnt my lesson.
I have my Bitcoins now and they are mine.

A bitcoin in the hand is worth two in the exchange.

Wow 250 btc.

these were $10 coins, so $7000 is a much bigger loss. I gambled away like 500 back then; having 200 at some stupid site like bitcoinica was common.

In my opinion he lost 250(btc)x430=$__

Saying that he lost $2500 because he bought at $10 is kinda like saying bill gates is broke cause it's a time question of when the dollar collapse(Yes, I do realize he's diversifying, it's not literally..)

I bought another 250btc at that time though to cover my loss. And Zhou Tong compensated me with 75btc.
I stopped worrying about the $7000 a long time ago (if you can call 2 years a long time).

[bitcoinsrus]

I've held onto my Bitcoins through all this (again)
I'm just not willing to put then on an exchange - I lost $7000 and 250btc when Bitcoinica collapsed. I learnt my lesson.
I have my Bitcoins now and they are mine.

A bitcoin in the hand is worth two in the exchange.

Wow 250 btc.

these were $10 coins, so $7000 is a much bigger loss. I gambled away like 500 back then; having 200 at some stupid site like bitcoinica was common.

In my opinion he lost 250(btc)x430=$__

Saying that he lost $2500 because he bought at $10 is kinda like saying bill gates is broke cause it's a time question of when the dollar collapse(Yes, I do realize he's diversifying, it's not literally..)

I bought another 250btc at that time though to cover my loss. And Zhou Tong compensated me with 75btc.
I stopped worrying about the $7000 a long time ago (if you can call 2 years a long time).

$10 dollar coins, wow.  Where was I lol.  Do you guys think I am too late to profit off bitcoin.  I always read about the older investors getting really cheap coins.  What about a newb like me, is the big time profiting over?

[piramida]

I've held onto my Bitcoins through all this (again)
I'm just not willing to put then on an exchange - I lost $7000 and 250btc when Bitcoinica collapsed. I learnt my lesson.
I have my Bitcoins now and they are mine.

A bitcoin in the hand is worth two in the exchange.

Wow 250 btc.

these were $10 coins, so $7000 is a much bigger loss. I gambled away like 500 back then; having 200 at some stupid site like bitcoinica was common.

In my opinion he lost 250(btc)x430=$__

Saying that he lost $2500 because he bought at $10 is kinda like saying bill gates is broke cause it's a time question of when the dollar collapse(Yes, I do realize he's diversifying, it's not literally..)

No, this is an incorrect opinion. the value of 400$ per btc is derived from having that btc + hodling on to those btc for couple of years. So unless you actually held that coins all that time and didn't sell or lose, then yes, they'd be worth that much. But the fact is, that it is very hard to just hold and not sell when the price grows to like $30 per coin

Also, at the time of the loss, $2500 would be able to buy back every coin that he lost and then some. So he did not lose $300k, he lost *potential* to maybe have them several years later, that is different. You just lost this potential today, because you didn't sell your house and didn't buy cheap coins at $300 - see, you just lost millions!