Below is a link to another more cautious view then this thread
https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/Using his viewpoint on what I'm doing below....I'm still OK under his scenario above.
However, you can see where some of us oldsters are coming from, looking at BTC prices from 1K in Jan 2017 to 11k now.
It is all quite exciting. But freaks us all out in one manner or another.
Anyway, his view above.
Feel free to post contrary views etc, this is just as supposition this thread.
Again, my only real point I'm sticking to, is IF you are gonna HODL do so long-term, and avoid the FUD etc that may come in the future
and indeed a correction in price. As long as crypto and BTC have adoption and use, and survive, all shall pass if you HODL, in my view.
But like the link says above, be sure of how much you are getting into is not TOO MUCH to handle if things go pear-shaped...
As to myself why holding below, even under the above link's view, makes sense to me.
Well, all the crypto I have BTC/etc I MINED...thus all equip paid/elec month to month off crypto...I have NOTHING in crypto, but the infrastructure (miners) and what I'm holding
beyond month to month mining expenses..after that it is all clean profit after the IRS gets its take as income this year and next.
thus, he is correct, but I choose to do this
1) Because I have the crypto and BTC hoard and I owe no debt anything or otherwise, I have no debt anymore/equip has ROI'd etc..it is all profit..the works for me and so HODL makes sense to me. I'm also not trading or buying crypto at these prices...too chicken....
2) I'm retiring, at the end of this month, So Jan 1st 2018, no more wage slave, which I can do w/o touching any crypto (even if it goes tulips) at the 'modest lifestyle' I have now..but with BTC and Crypto as a Backstop it has made me brave enough to pull the trigger (ie I don't think it is going to go tulips). Some crypto will go to pay health insurance till Medicaid in 2 years, and soc sec retirement, which I will not take for 3 years, and so no soc sec needed/no crypto needed..same lifestyle..but again crypto hoard was the last straw and HODL that made
me brave enough to pull the trigger on retirement at 62 years.....I'm covered even if the works goes tulips.
(I have a better shot at being Natalie Portman's Love Puppet, before crypto and BTC goes tulips, IMHO, but still...er wait.now conflicted on tulips...I could have a shot...damn!..got myself confused)
So we will have corrections/etc, hopefully, my scenario fits a 'prudent' example of how to HODL. BTC goes to 1,000 USD, I'm no worse off than Jan 2017!
Thus my bet/thus my risks.
edit:
another article on a much more positive note about the long term prospects of BTC and crypto!
https://www.finder.com.au/will-the-bitcoin-bubble-burst