Discipline hodling altcoins in the face of challenges. - page 2.

tvplus006

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Quote from: Rruchi man on June 02, 2021, 12:35:57 PM

...In the face of a life threatening situation that finance is the solution to, will you still hold on to your coins knowing that liquidating some or all will get you out of the situation? Or will you wait for help from above or somewhere else?

In the event of financial problems in real life, you need to use any legal method to solve it. I know many examples of other people selling their cars and homes urgently for a song to solve financial problems. And if such a way to solve the problem is to sell altcoins, then I will not hesitate to sell the amount that is required.

KaliLinux

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Quote from: Rruchi man on June 02, 2021, 12:35:57 PM

We all have a level of discipline when it comes to HODling but that discipline is tested by the the level of challenges we face. Everyone has challenges, true...but the challenges are different for everyone, some more peculiar to others.

I had a conversation with a friend today who was excited that he was able to discipline himself, ignore the financial challenges he had and still was able to HODL his many altcoins without selling even when he had some pressing needs.

I agree that there will always be needs and challenges, but the big questions are?

Will you Judge someone who sold his altcoins in the face of a situation
which he did not see any way out of financially other than to liquidate some assets as not disciplined enough?

In the face of a life threatening situation that finance is the solution to, will you still hold on to your coins knowing that liquidating some or all will get you out of the situation? Or will you wait for help from above or somewhere else?

I don't really understand why some of us will take HODL as a do-or-die thing. To me, Cryptocurrency is an Investment for me so that I will be able to have or make some profits to resolve some issue that might arise along the way or I can HODL till when it is really convenient as in, when the market is going in to bear, I would sell to stable coins.
As I said, I don't understand why I can't or won't sell what I have to settle my affairs, I personally am in this position right now and have sold some of the Alts to solve some problem, what happens if I HODL and of the Life-threatening situation, what next?

warg2017

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I suggest you not hold altcoins for too long because in my opinion not all altcoins can provide a lot of profit, altcoins have a very high risk if they are durable, only altcoins that have the potential to make a profit even though there is no guarantee because no one knows when the price will be rose, as did the price of Dogecoin.

That is right, it doesn't always mean that you will make a profit from HODL. It depends on what coins are in your wallet, and the question is which one, or which coins, will be profitable over a period of years, it is hard to say due to no noe knows the future. The most secure way is nothing more than long term holding BTC.

ILuckyGuyI

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It is vital to be able to discipline ourselves about our investments. We face every kind of challenges in bull markets and bear markets. It is very important to act as correct as possible. Otherwise, we can be really sorry for what we've done.

Maestro75

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Quote from: Rruchi man on June 02, 2021, 12:35:57 PM

Will you Judge someone who sold his altcoins in the face of a situation
which he did not see any way out of financially other than to liquidate some assets as not disciplined enough?

In the face of a life threatening situation that finance is the solution to, will you still hold on to your coins knowing that liquidating some or all will get you out of the situation? Or will you wait for help from above or somewhere else?

I sell my tokens when I feel like and do not care what anyone says. Why should anyone listen to jeers and boos from people who can not help them solve some financial problems trying to sell their tokens. If the tokens are yours, they are yours to decide what to do with. There should be no shame deciding what to do with your tokens. But if the situation is not a life threatening one and you can get solution elsewhere without selling your tokens, then do not sell. Allow the tokens to appreciate.

lienfaye

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Quote from: Rruchi man on June 02, 2021, 12:35:57 PM

Will you Judge someone who sold his altcoins in the face of a situation
which he did not see any way out of financially other than to liquidate some assets as not disciplined enough?

Its their choice and I cant blame anyone for doing so. We have our own reasons why we invest on altcoins and its up to us whether to sold it earlier or hold for long term. I dont mind what others has to say or do with their assets, as long as they're doing the same towards me.

We know better whats best and if you sell regardless of the reason then its your choice. We can freely do what we want but dont forget whats more beneficial to you, thats why it depends on how you look at alts as an investment so think before letting go your alts.

BIN-BIN

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Challenges are part of our daily lives and the way we deal with the matter as regards our finances, our altcoins holdings are our assets, and what I mostly do is have emergency savings in that way I will not have to touch my digital assets. As you rightly said every individual with his or her peculiar challenges.

xmonkeyx

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if what is invested in altcoins is an advantage, of course you can be disciplined and can hold altcoins longer to wait for the best price. but we are back again in real life which has many needs, of course it is very difficult especially if people do not have a steady income.
I myself often issue altcoins that I have because of my real life needs. this is a last resort if no help comes from elsewhere.
it is me in my own way, and different from other people. because everyone has their own solution to get out of their financial problems.

Luffygroove

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Of course, we can't judge anyone as an indisciplined person when they decided to sell their assets in this bear market. We never know what they face and we don't know their consideration. One thing that I could say about the situation that you've been asked, I will try to find another alternative first, but if it's not possible then my final way is to sell my assets even when it's cheaper than it should be and I don't care what other people say because every decision I take will be made based on every aspect related in my life and it should be thought really carefully.

Fivestar4everMVP

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First, I pray God will not allow any one of us see a life threatening problem.
And to add to the discussion, from my own personal experience, I won't see any one who decides to liquidate some of his or her crypto asset to solve a challenging problem as weak hands, I mean Ive been there before several times and I understand what it feels like, mostly those who claim to be diamond hands are 99.9 percent of those who have a well paying job or business outside crypto, they see crypto as a way of saving money for the future, this set of individuals will hardly see any reason to sell or liquidate part or all of their crypto asset when faced with a financial problem because they already have a good amount of money outside crypto to use in solving that problem.
This is why it's very important for us all to try and have a paying job or business out side crypto as this will help us not to depend on our crypto investment to survive.

slaman29

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Quote from: VanDeinsberg12 on June 03, 2021, 12:52:07 AM

being diamond hand DOESN'T mean stupidly holding by not regarding any problem you face, what most of people meant by weak hands in holding are those people who just follow the pump and dump scheme and fall into the trap not because they are in some financial problem but because they are being too greedy and can't endure the dumping.
If the problem is life threatening as you mentioned, and liquidating your asset could save you, it's a no brainer that you should do that, you can earn money any other time but if your life or well being is in danger, I doubt you can earn money the other day.

Diamond hands does mean holding no matter what though, and there is a fine fine line in crypto between stupidity and foolishness, or smart patience. Bitcoin proved diamond hands to be the latter but we can never really know until we get the wisdom of hindsight:)

I have been diamond bag holders for too many alts to count, for example:)

TWW

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Quote from: wajik-tempe on June 03, 2021, 01:27:30 AM

Holding cryptocurrencies is easy as long as we invested our "free money" into it. We should have a mindset that we already "lost" that money everytime we invested to a coin. So we will able to hold longer for future profits. As long as we bought a good coin, the coin value will be more valueable in the future

what becomes difficult is when what we use is saving money that we must use when the money for our needs runs out. we are forced to sell the asset and exit the investment with a small loss or profit.
planning doesn't always go well. because we have to see how our condition will be in the future with the assets that we continue to hold.

wajik-tempe

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Holding cryptocurrencies is easy as long as we invested our "free money" into it. We should have a mindset that we already "lost" that money everytime we invested to a coin. So we will able to hold longer for future profits. As long as we bought a good coin, the coin value will be more valueable in the future

Kasabus

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Quote from: Reid on June 03, 2021, 12:16:05 AM

Quote from: Rruchi man on June 02, 2021, 12:35:57 PM

Will you Judge someone who sold his altcoins in the face of a situation
which he did not see any way out of financially other than to liquidate some assets as not disciplined enough?

Basic question. No. Money is still money. Life is more important than it.

Quote from: Rruchi man on June 02, 2021, 12:35:57 PM

In the face of a life threatening situation that finance is the solution to, will you still hold on to your coins knowing that liquidating some or all will get you out of the situation? Or will you wait for help from above or somewhere else?

Again, no.
You have the capability to help yourself or help your family in a life-threatening situation so take it out, sell it.
Remember, there will always be a way to make money again and invest with new altcoins, or if you want you can buy it back someday.
If you are not breathing anymore, can you still do that?
I won't suggest loans too, because you are digging your grave slowly by doing that. Use whatever you have when it's needed even if it's for food on the table or the bills that need to be paid.

Money will only be useless if you can't use it in your most worst life situations. I believe that the goal of any means of investment is to make money so you will get rid of your financial problems and so if you have already achieved it, then use it according to your needs.

Discipline will always be there. It's just that our challenges don't come in the same way either. For me, money is nothing if you will chose to hold it and make it grow. It should be use wisely in times you need it the most.

Bitcoinjheta

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I have a big respect to the holder's decision if they want to sell there coins over market condition or they stick to the plan to hodl coins for more years. Different strategies has different ways of earnings so focus on what coins you have in order to succeed better earnings over time.

VanDeinsberg12

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being diamond hand DOESN'T mean stupidly holding by not regarding any problem you face, what most of people meant by weak hands in holding are those people who just follow the pump and dump scheme and fall into the trap not because they are in some financial problem but because they are being too greedy and can't endure the dumping.
If the problem is life threatening as you mentioned, and liquidating your asset could save you, it's a no brainer that you should do that, you can earn money any other time but if your life or well being is in danger, I doubt you can earn money the other day.

rodskee

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Quote from: Rruchi man on June 02, 2021, 12:35:57 PM

We all have a level of discipline when it comes to HODling but that discipline is tested by the the level of challenges we face. Everyone has challenges, true...but the challenges are different for everyone, some more peculiar to others.

Lol if you are a Hodler you don't have to worry about your investing because the real Hodler invested a money that he can allowed to risk meaning excess funds that can be taken for granted for long time.

Quote

I had a conversation with a friend today who was excited that he was able to discipline himself, ignore the financial challenges he had and still was able to HODL his many altcoins without selling even when he had some pressing needs.

This is what i was telling , that if we are a hodler , the funds that we will put inside are the amount that we can think of already lost, which means even if we face financial issue in real life, the investments inside crypto will not be part of that burden.

Quote

I agree that there will always be needs and challenges, but the big questions are?

Will you Judge someone who sold his altcoins in the face of a situation
which he did not see any way out of financially other than to liquidate some assets as not disciplined enough?

In the face of a life threatening situation that finance is the solution to, will you still hold on to your coins knowing that liquidating some or all will get you out of the situation? Or will you wait for help from above or somewhere else?

I care nothing , and why would i Blame them ? its their funds then they will decide about that.

Reid

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Quote from: Rruchi man on June 02, 2021, 12:35:57 PM

Will you Judge someone who sold his altcoins in the face of a situation
which he did not see any way out of financially other than to liquidate some assets as not disciplined enough?

Basic question. No. Money is still money. Life is more important than it.

Quote from: Rruchi man on June 02, 2021, 12:35:57 PM

In the face of a life threatening situation that finance is the solution to, will you still hold on to your coins knowing that liquidating some or all will get you out of the situation? Or will you wait for help from above or somewhere else?

Again, no.
You have the capability to help yourself or help your family in a life-threatening situation so take it out, sell it.
Remember, there will always be a way to make money again and invest with new altcoins, or if you want you can buy it back someday.
If you are not breathing anymore, can you still do that?
I won't suggest loans too, because you are digging your grave slowly by doing that. Use whatever you have when it's needed even if it's for food on the table or the bills that need to be paid.

ilovealtcoins

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In addition to discipline, experience and spare funds beyond established altcoins are also important. I see people going all in for one crypto will cut their losses because he wants to invest in another crypto with higher returns. People who have a lot of money to spare can also ignore the money they have bought for long-term holding. They have more money so their mind is better.
Those who have experienced a bear market will have a different way of holding than newcomers because their psychology is stable, they are more experienced.

OcTradism

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Quote from: Rruchi man on June 02, 2021, 12:35:57 PM

We all have a level of discipline when it comes to HODling but that discipline is tested by the the level of challenges we face. Everyone has challenges, true...but the challenges are different for everyone, some more peculiar to others.

Altcoins are risky and more speculative assets than Bitcoin. They are more risky than fiat currencies as well. If an investor invests in altcoins, the worst thing to do is use all capital for altcoins. It will be more terrible if chosen altcoins are shit coins or shit meme tokens. They will die very soon. Dogecoin is different because it is an old meme altcoin. The new meme tokens are born in this year will lose their price soon.

Another rule for hodlers. Withdraw their cryptocurrencies to non custodial wallets. Hodling relates to long term and store your crypto on exchanges too long is not good.

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