Anyone else think "long term" hodlers are idiots? - page 19.

btcney

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Quote from: Hyena on July 04, 2017, 01:03:11 AM

Quote from: LeGaulois on July 03, 2017, 08:07:54 AM

I still own Bitcoins that I bought back in 2013 or 2014, I don't remember exactly but I remember I paid ~225$ for each. Two weeks ago I was talking about Bitcoin with a friend, he is not really aware how bitcoin works ect, he still thinks bitcoin is the money for the dark web... When I told him I own Bitcoin bought back in 2013-2014 for 225$ and now the price is ~$2500, he called me asshole, and told me why the fuck don't you sell them? Well for an asshole it's not a bad ROI currently...

I've been called a faggot when BTC went above 2000$ and the person who got pissed knew I bought in at 4$ Cheesy

Wow, congratz. I actually had the opportunity to buy bitcoin at $100 like a lot of other people did as well. But we didn't take action.

The monetary supply of a currency in my opinion is one of the most important ways of determining whether or not it is worth it to hold it for the long term or not. Fiat currencies are known for notorious government intervention, and oftentimes the fiat currency ends up being worthless pieces of paper.

Gold and bitcoin are similar in the way that there is only a certain amount of bitcoin available to be mined. So even if the amount of demand for bitcoin only increases by 5% each year(impossible imo), priec is going to go up in the long term as demand outpaces the rate of inflation.

Long term holding is the safest strategy out there. The only way to profit in the short term as much as you do in the long term is to margin trade, and that isn't worth the risk in my opinion.

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Quote from: Hyena on July 04, 2017, 01:03:11 AM

I've been called a faggot when BTC went above 2000$ and the person who got pissed knew I bought in at 4$ Cheesy

It's a sore loser. If faggot means that you have made it, then so be it. Cheesy

I have been named plenty of things (mostly not all that positive) for having close to 50% of my wealth in Bitcoin. But hey, I am sitting here with a big smile, while I know that they have been lagging behind big time, with their wealth sitting in their savings account. I personally bought my first coins between $20-$25 in early 2013, from which I still have an x number sitting untouched in my wallets. I was wondering, have you kept your $4 coins in cold storage till now without touching them, or have you been moving them back and forth?

HasHe

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Quote from: European Central Bank on June 25, 2017, 02:52:04 PM

try asking that question to someone who long term held from 2011/12 until now. they would laugh in your face and then probably spit in it too.

Definitely,history is clear before us.Price of bitcoin was earlier $250 and it was $1000 in january 2017 and now in july 2017,its price is $2500.I think that OP has missed the chance of buying bitcoins at a much lower price and so he is speaking these words due to jealousy ha ha ha.

Hyena

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Quote from: LeGaulois on July 03, 2017, 08:07:54 AM

I still own Bitcoins that I bought back in 2013 or 2014, I don't remember exactly but I remember I paid ~225$ for each. Two weeks ago I was talking about Bitcoin with a friend, he is not really aware how bitcoin works ect, he still thinks bitcoin is the money for the dark web... When I told him I own Bitcoin bought back in 2013-2014 for 225$ and now the price is ~$2500, he called me asshole, and told me why the fuck don't you sell them? Well for an asshole it's not a bad ROI currently...

I've been called a faggot when BTC went above 2000$ and the person who got pissed knew I bought in at 4$ Cheesy

LeGaulois

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I still own Bitcoins that I bought back in 2013 or 2014, I don't remember exactly but I remember I paid ~225$ for each. Two weeks ago I was talking about Bitcoin with a friend, he is not really aware how bitcoin works ect, he still thinks bitcoin is the money for the dark web... When I told him I own Bitcoin bought back in 2013-2014 for 225$ and now the price is ~$2500, he called me asshole, and told me why the fuck don't you sell them? Well for an asshole it's not a bad ROI currently...

cramcram21

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Nope I don't really think that long term hodlers are idiots,
Some hodlers make a huge amount of profit from holding their coins,
There are some news about a high school drop out who became millionaire because of bitcoin.
So I really don't think that long term hodlers are idiots he invested in bitcoin when he was only 12 and became millionaire at the age of 18.

deisik

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Quote from: timerland on July 03, 2017, 05:29:21 AM

Quote from: deisik on July 03, 2017, 03:19:18 AM

Quote from: tabas on July 02, 2017, 03:58:48 PM

Yeah I'm an idiot and had already bitcoin when the price is only at $350 so I did hold it out because of people telling here that it will become higher soon. And I listened to those people because I'm an idiot and now the price of bitcoin is $2,400 something and it's even getting higher. Hooray for myself, an idiot

There is one caveat, though

That is, you should never forget that until you book your profits they will remain only paper profits (read they could evaporate a lot faster than it took you to accumulate them). As the Russian proverb goes, chickens are counted by the fall. If we rephrase it, it could be said that profits (Bitcoin profits, obviously) are counted by August. So don't be an idiot and cash out at least some coins until it is too late. You can always buy back later when the dust settles and the sun shines bright again. Right now it looks more like a rainy weather with likely a severe storm dead ahead

Somewhat agreed.

When you cash your bitcoins out though, you're presented with pieces of paper that if not because of the government would be otherwise consideed quite worthless. So it's quite subject what is real value, and what is not. Some may consider bitcoin as a long term investment and they wouldn't care less about the short term movements in price. But you're right, if you can cash out at the highs and buy at the lows, that would be ideal

You likely meant to say subjective, right?

If so, I can't possibly consider what you meant to say as subjective at all. If we talk about dollars as "pieces of paper", then right now these pieces of paper have a lot more objective value than Bitcoin (value as utility, obviously) since you can buy with dollars virtually everything which can only be bought with money at all and virtually nothing with Bitcoin directly. So for most practical intents and purposes, it is an objective measure, i.e. a measure which is based on firmly established facts, not on conjectures and speculations (what might or might not be)

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Quote from: deisik on July 03, 2017, 03:19:18 AM

Quote from: tabas on July 02, 2017, 03:58:48 PM

Yeah I'm an idiot and had already bitcoin when the price is only at $350 so I did hold it out because of people telling here that it will become higher soon. And I listened to those people because I'm an idiot and now the price of bitcoin is $2,400 something and it's even getting higher. Hooray for myself, an idiot

There is one caveat, though

That is, you should never forget that until you book your profits they will remain only paper profits (read they could evaporate a lot faster than it took you to accumulate them). As the Russian proverb goes, chickens are counted by the fall. If we rephrase it, it could be said that profits (Bitcoin profits, obviously) are counted by August. So don't be an idiot and cash out at least some coins until it is too late. You can always buy back later when the dust settles and the sun shines bright again. Right now it looks more like a rainy weather with likely a severe storm dead ahead

Thanks for those words actually I'm enlightened now if I'm going to sell some or not. I've been planning to sell and just wait for the price at dip and then start buying again. But I'm always late on doing that thing. And so it's final that before August 1 the price of bitcoin is going to be at dip? If that is so, I'm going to sell within 5 days.

IntelligentIdiot

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the buy-and-HODL or buy-and-forget strategy is actually hard to beat in the long run even by good traders. the daytraders may be able to scalp well short term but you cannot time the market for so long. at some point you will get caught up in bad trades and then later forget about the long term prospects of the coin you are into.

talkbitcoin

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Quote from: jubalix on July 02, 2017, 05:37:55 AM

no they are not, but it would not hurt to diversify to hedge your position into a few other alts.

yeah it would hurt, and it would hurt a lot if you choose a wrong altcoin or any altcoin at the wrong time and invest in it. the dumps of altcoins are crazy.
if bitcoin goes down 10% in a day at worst times, an altcoin can easily lose half its value in 2 hours at best case dump.

not saying trading altcoins is not a good idea but saying considering them as a real investment is bad.

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Quote from: deisik on July 03, 2017, 03:19:18 AM

Quote from: tabas on July 02, 2017, 03:58:48 PM

Yeah I'm an idiot and had already bitcoin when the price is only at $350 so I did hold it out because of people telling here that it will become higher soon. And I listened to those people because I'm an idiot and now the price of bitcoin is $2,400 something and it's even getting higher. Hooray for myself, an idiot

There is one caveat, though

That is, you should never forget that until you book your profits they will remain only paper profits (read they could evaporate a lot faster than it took you to accumulate them). As the Russian proverb goes, chickens are counted by the fall. If we rephrase it, it could be said that profits (Bitcoin profits, obviously) are counted by August. So don't be an idiot and cash out at least some coins until it is too late. You can always buy back later when the dust settles and the sun shines bright again. Right now it looks more like a rainy weather with likely a severe storm dead ahead

Somewhat agreed.

When you cash your bitcoins out though, you're presented with pieces of paper that if not because of the government would be otherwise consideed quite worthless. So it's quite subject what is real value, and what is not. Some may consider bitcoin as a long term investment and they wouldn't care less about the short term movements in price. But you're right, if you can cash out at the highs and buy at the lows, that would be ideal.

time is the greatest deciding force in investments. If you have a good investment then time is going to make the investment grow even more, and imo bitcoin is a great long term oriented investment. There is no need for messing about with short term markets.

deisik

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Quote from: tabas on July 02, 2017, 03:58:48 PM

Yeah I'm an idiot and had already bitcoin when the price is only at $350 so I did hold it out because of people telling here that it will become higher soon. And I listened to those people because I'm an idiot and now the price of bitcoin is $2,400 something and it's even getting higher. Hooray for myself, an idiot

There is one caveat, though

That is, you should never forget that until you book your profits they will remain only paper profits (read they could evaporate a lot faster than it took you to accumulate them). As the Russian proverb goes, chickens are counted by the fall. If we rephrase it, it could be said that profits (Bitcoin profits, obviously) are counted by August. So don't be an idiot and cash out at least some coins until it is too late. You can always buy back later when the dust settles and the sun shines bright again. Right now it looks more like a rainy weather with likely a severe storm dead ahead

cafucafucafu

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Think of it like this, OP.

Long term wise, more peolpe are definitely going to accept bitcoin both as merchants and just as everyday users, right? So the demand for bitcoin as a global currency will definitely increase in the long term. But unlike fiat currencies, the supply isn't able to go above 21 million. It's restricted by lines of code. So that's the reason a lot of us believe in bitcoin, and why we're holding for the long term.

Quote from: tabas on July 02, 2017, 03:58:48 PM

Yeah I'm an idiot and had already bitcoin when the price is only at $350 so I did hold it out because of people telling here that it will become higher soon. And I listened to those people because I'm an idiot and now the price of bitcoin is $2,400 something and it's even getting higher. Hooray for myself, an idiot.

Hahaha, well played sir.

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Quote from: freebutcaged on July 01, 2017, 06:20:55 AM

You could argue the same thing with that mate exchanging 30,000 or 300K Bitcoins for a pizza, that is

Some short term investment like never seen before

.

10k. Sometimes I wonder what ever happened to the guy that received the Bitcoins. Guy must be living on a lifetime supply of Pizza by now.

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Yeah I'm an idiot and had already bitcoin when the price is only at $350 so I did hold it out because of people telling here that it will become higher soon. And I listened to those people because I'm an idiot and now the price of bitcoin is $2,400 something and it's even getting higher. Hooray for myself, an idiot.

deisik

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Quote from: Maskedman on July 01, 2017, 04:55:55 AM

Quote from: Sevvero on June 25, 2017, 02:17:38 PM

Long term is for losers.

Warren Buffet is only in long-term, and yet he is the most successful investor of our time

Though that doesn't mean that you or anyone else are going to be as successful

Warren Buffet is successful not because he is long term overall but because he certainly knows what assets to invest in. Obviously, if you invest in right assets, most likely it will be long term investments since anyone in his right mind would choose long term profits over short term ones. To put it differently, just going long term without knowing anything about the asset you invest in cannot be a recipe for success in and of itself. You will still be gambling and likely fail in the end

jubalix

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no they are not, but it would not hurt to diversify to hedge your position into a few other alts.

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Quote from: freebutcaged on July 01, 2017, 06:20:55 AM

You could argue the same thing with that mate exchanging 30,000 or 300K Bitcoins for a pizza, that is

Some short term investment like never seen before

.

Well that's not really an investment. It is merely a trade, a quite iconic trade in bitcoin history as well because it is the first trade involving tangible items that are delivered in real life, for bitcoins.

Long term holders are definitely not idiots. In fact they are the smart ones.

Two examples that i have experienced myself:

- I bought digibyte when it was like 30 or 40 sats each, and sold at 50 more or less thinking that i got a great deal on it. Then a year later, i look at digibyte charts and it's at 1xxx sats.
- I bought bitcoin when it was $200, sold at $400. Again, thought it was a great deal, doubled my money right? After the halving i started regretting. Then look at where bitcoin is now.

Though always holding could be not the best option, for example if there is obviously a bubble then you should sell some off.

freebutcaged

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You could argue the same thing with that mate exchanging 30,000 or 300K Bitcoins for a pizza, that is

Some short term investment like never seen before

.

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Quote from: Sevvero on June 25, 2017, 02:17:38 PM

Funny how every time the market is in a recession and losers keep holding on to their losses they magically become "long term" holders.

God damn it, "long term" is such a stupid meme. Admit it, you wanted to get rich quick and once you realised you are too dumb to swing trade you suddenly became a "long term" loser.

Such idiocity.

You think Dan Balzerian held anything "long term"?

Long term is for losers.

Focusing on the short term means that you're going to be affected by all the volatility. It's extremely hard to concentrate and make the right decisions when so many people are yelling at you to do one thing or another.

Long term investments not only mean that you're going to be able to realise the potential of what you invested in far greater than short term can do, it also cuts away all the volatility. If you invest in a good investment like BTC, long term you're going to profit. If not, then long term you're going to lose out. Short term is only useful for leverage which is extremely risky.

Topic: Anyone else think "long term" hodlers are idiots? - page 19. (Read 27268 times)