No one can get rich overnight by investing there is risk. As far as I'm concerned holding bitcoins involves people's own decision and it's not possible to get money from here in a day, it's a long term wait. Don't think of bitcoin as the only source of income. Besides other means of income, bitcoins should be invested based on own money. By holding bitcoin, there is less risk of loss and profit without any challenge if the price rises.
I personally like the idea of continuing to buy that would supplement HODLing rather than mere HODLing...
But, yeah each time you buy more BTC, you add a new date to the HODL of those particular coins.
So you end up with a bunch of coins with differing purchase dates and so then differing levels of profitability, and of course, depending on your accounting, you can treat them separately, you can average them out or you can account for them in both ways to figure out your options regarding the coins... and surely feeling better to be profitable rather than now being profitable, yet from my point of view there can be a lot more value in terms of having the value compound upon itself over a longer period or maybe through a quick price run up, so there could be temptations based on volatility to try to take advantage of some of the price run ups - including that guys need to be careful not to sell too many of their coins too soon based on their perception of short term profits that might not be as great as longer term profits that let the coins ride for longer periods and to experience more and more compounding of value effects... which leads into the power of exponentials that sometimes can be difficult to appreciate.
If you look at BTC prices since 2015, you can see that currently, we have had right around 8 doublings in BTC prices, yet that also show 256x increase in the actual BTC price.. so the doublings have compounding effects on the value of our BTC holdings that are quite powerful, even though exponential growth is not so apparent through our tendencies to think about value growth in more linear ways and so we frequently will fail to appreciate the exponential way of considering the matter.
0) $250 (2015) 1X
1) $500 (2015-2016) 2X
2) $1,000 (2016-2017) 2X * 2 = 4X
3) $2,000 (2017) 4X * 2 = 8X
4) $4,000 (2017-2020) 8X * 2 = 16X
5) $8,000 (2017-2020) 16X * 2 = 32X
6) $16,000 (2017-2022) 32X * 2 = 64X
7) $32,000 (2021-2023?) 64X * 2 = 128X
8 ) $64,000 (2021-?) 128X * 2 = 256X
9) $128,000 (?) 256X * 2 = 512X
That's what matters when you're holding bitcoin. You shouldn't depend on it as if it's going to give you daily income. The profit that you'll get from it will be coming from how long you hold it as the market gets into fruition and takes time in doing so. Most of the holders that are successful understood this matter and they have just left their Bitcoin on hold and does their things while waiting for its value to pump. Unlike the newbies that think that it's different the way you've described it, they don't realize that they need to have other source still.
Exactly and that shouldn't have been the thing that someone should be doing with bitcoin anyway, the mere fact that the growth of bitcoin isn't going to happen overnight and the daily movement of it's price is so volatile that we're all warned to take precautions when trading and only trade what we can afford to lose means that we all should've been not relying on bitcoin as a means to make money for our daily needs and at the end as you've said, bitcoin's better when you're hodling it the longer. My take on this people that are still doing this reliance on bitcoin for daily money is that they're admirable because they don't mind the risk and that they're crazy enough to do this not just once or in a day.
That is part of the problem of daily spending and not holding a decent portion of your BTC aside.. you might get a bunch of short term profits, but you may well lose out on the longer term value compounding because you are in and out and spending it on a regular basis. Of course, we do want there to be some spending of bitcoin in order to have various ways to have ways to liquidate BTC, even that if people want bitcoin, the some of us still want to have avenues to spend our bitcoin, even if we might be spending only small portions at any given time, and surely some guys will be doing spend and replace.
No one can get rich overnight by investing there is risk. As far as I'm concerned holding bitcoins involves people's own decision and it's not possible to get money from here in a day, it's a long term wait. Don't think of bitcoin as the only source of income. Besides other means of income, bitcoins should be invested based on own money. By holding bitcoin, there is less risk of loss and profit without any challenge if the price rises.
The price of bitcoin increases as the time passes so if someone hold it longer without selling it at any stage during fear will get huge profit. The profit from Bitcoin depends on the time of holding and it is based on the investors thoughts that how long he keeps his bitcoin.
Some people are also involved in trading with altcoins but they face troubles when the price suddenly goes down and altcoins also possess risk. Now a days one can easily buy and sell altcoins as price is regularly fluctuating and at the same time one can hold bitcoin so he can get profit from both trading and investment in current Bull season.
Fuck shitcoins and trading.. that is a distraction.. .to the extent that shitcoins are even on topic in this thread... and maybe trading might be more potentially topical because it is a contrast to hodl, so sure some guys here might consider that they might be able to play BTC's price waves, yet at the same time the HODL camp map shows that BTC prices tend to become profitable with time, so why risk trading if you are already good chances of being profitable with the mere passage of time?
Today the HODLING thing is under testing once again as the price of bitcoin is showing a big dump in price , dropping from ATH 73$k now at 67$k , that is 6k drop in 24 hours , does this mean there is a panicking happening ?
those who pretend to be Holder but when there is a red blood market is starting to sell out?
You seem to not know what is a dump.
In the last day or two we have had right around a 11.111111% correction if we count from the local top of $73,794 and the current local bottom of $65,569, and right now as I type this post we are bouncing around $68,400-ish.
There is nothing unusual about any of that, and anyone who is investing into bitcoin whether newbie or longer term bitcoiner, should already realize that the BTC price does not go straight up, even though sometimes there might be long periods in which it goes up a lot, but there could also be long periods in which it goes down a lot, and so each of us should have systems in place (in which we continue to mostly hold our bitcoin) in order to deal with periods of UP and DOWN that cannot always be known.. especially in the short term... even though we likely can anticipate long term trends to continue to be up.. . which is part of the rationale to continue to hold BTC and to accumulate it no matter the BTC price direction, especially if you are a no coiner, a low coiner, or you perceive yourself to not have enough BTC.
We have surely been in an up cycle since our bottom of $15,479 in November 2022, yet we might not have had realized that we are in an uptrend until much later (maybe not even being sure until sometime after October 2023).. and so if the trend is going to change at some point in time from UP to down, we might not realize when the trend is going to change, so part of the question can be attempting to figure out how to treat your BTC holdings during so much volatility that is almost inevitable in bitcoinlandia, and if you don't have enough BTC what you should do about buying BTC, which likely if you don't have any BTC, then the ONLY way to prepare for up is to buy some.
If you don't have any BTC and you think that your best strategy is to wait for further down in order to buy some, then you are not prepared for up, and you are ONLY preparing for down, which might not end up happening, then what are you going to do? Buy higher? Over the years, we have seen a lot of folks who think that they are preparing to get into bitcoin by waiting for prices to go down, and a lot of those people keep waiting, fail to act, so they end up not being prepared for the up that ended up happening.
If you have some BTC, but you feel that you don't have enough, you are not in as bad of a position as the no coiner because you have some preparation for UP, but if you believe that you don't have enough BTC, then you likely need to buy rather than wait.. and sure, you do not have to buy with whatever cash reserves that you have. Managing your cash reserves and the various methods of buying BTC is another story, in which DCA, lump sum and buying on dips are the three accumulation strategies that can be exercised separately or in combination.
Which way you believe the BTC price might be going is ONLY one of the factors to consider when figuring out your own situation, and so of course, figuring out your own financial and psychological situation in regards to bitcoin is also important if you want to have bitcoin to play potentially significant role in your life - especially since we seem to still be in the relatively early stages of the greatest wealth transfer known to mankind from no coiners and low coiners to coiners, so each of us should prefer to be on the receiving end if possible, and surely some people in the world have more disposable/discretionary income than others in order to buy some bitcoin, and bitcoin still provides benefits to the no coiners and low coiners by providing a more fair system, yet I am sure anyone appreciates if he is able to experience some direct benefits from bitcoin too.. which comes from attempting to own as much as you can without over doing it.. no one should want to end up having no coins or low coins because they over did it and they screwed up their investment into something that is nearly guaranteed (of course there are no guarantees) to return profits with the passage of time and the prudent, persistent, consistent and perhaps aggressive accumulation of coins.
