HODL ₿itcoin for Life, not for Lifetime. - page 7.

Smartprofit

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Quote from: crossabdd on November 16, 2020, 02:46:43 AM

no HODL takes a lifetime. but HODL for life is the best choice. That is to hold onto the peak and sell it. then wait for the fall to re-buy. however, poor management and unstable emotional control will make many missed opportunities. As happened to you, even me too. for being greedy and hoping to be bigger for my fund. with the end is regret. for not taking the opportunity in 2017 to take profit. then trade with shitcoin which only reduces funds. I hope today's opportunity is HODL for Life.

In January 2018, I didn't sell bitcoins for Tether (usdt) because I didn't believe in usdt. I thought the chances of Usdt being cheated are pretty high. I was wrong - usdt still exists.

Of course, it would be nice to sell Bitcoin for $ 19,000 and then buy for $ 3,500.

There was a bear market in 2018-2019. However, even then, it was possible to increase the number of bitcoins (by trading paired with altcoins). For example, in the spring of 2018, the price of the altcoin EOS reached $ 20 (which is an all-time high if we count its price in BTC). In 2018, Binance became the leading cryptocurrency exchange (previously Bitfinex and Bittrex were the leading exchanges). This circumstance led to the success of the BNB token.

The combination of the HODL strategy and speculation in altcoins has brought good profits.

babykika2027

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Every hodl should be ended sooner or later If you need money right now could be a good time to exit. We need to spend our crypto savings one day to get profit

crossabdd

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no HODL takes a lifetime. but HODL for life is the best choice. That is to hold onto the peak and sell it. then wait for the fall to re-buy. however, poor management and unstable emotional control will make many missed opportunities. As happened to you, even me too. for being greedy and hoping to be bigger for my fund. with the end is regret. for not taking the opportunity in 2017 to take profit. then trade with shitcoin which only reduces funds. I hope today's opportunity is HODL for Life.

meanwords

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Quote from: The Cryptovator on November 14, 2020, 01:07:18 PM

What's your opinion? Should we HODL for Life or for Lifetime?

HODL Until you get your desired price. That way, you'll minimized your greed and expectations like what happened to you, you probably hold because you didn't set a reasonable price and you expect too much which turns out to be a disappointment.

nebuch

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Yea, hold bitcoin is recommendable specially this time where it is showing a kind of good resistance to increase. The possible to surge is there so selling btc now is a bad idea. For me the best thing to do now is to buy more bitcoin and hold until the time of bullish. Bitcoin is good investment for the future because this coin is potential and surely will recover from bearish.

mangsitin

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Bitcoin fluctuations are difficult to predict, the risk of bitcoin is big profits or big losses if we predict wrongly. and I accept all that risk in the crypto world. and in my opinion, take your profit from your capital. so it's not hold forever. I am worried that Bitcoin will fall dramatically, and it will take a very long time for the market to consolidate.

pixie85

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HODLing is important and I love the term because it's so simple and meaningful at the same time.

We shouldn't keep doing it for lifetime as the purpose of every investment is to profit. A profit doesn't mean anything when you cannot use it to make your life better.

What are you going to do with your millions in bitcoin when you're 70 years old?

shield132

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Quote from: The Cryptovator on November 14, 2020, 01:07:18 PM

Most crypto users are familiar with the HODL (Hold On for Dear Life). It's a good thing if you can HODL. I want to say HODL for dear life, not for lifetime. There is a reason why am I saying that. During the last bull run in 2017, I had more than enough funds to start a real life business by selling my Bitcoin. And to be honest, starting a real life business was too important for me since I was doing a job abroad. But sadly, I was greedy and had been waiting for more bumps. Eventually, I regret and now I can't do anything with that fund since bought a dew worthless shitcoin.

So if I HODL for dear life, then I should sell it for my need. Even I would won more BTC now since there were many opportunities when bitcoin dropped up to $3K.

What's your opinion? Should we HODL for Life or for Lifetime?

I'm saying for years on this forum that we mustn't HODL. Money has to be in circulation and you correctly mentioned that. You hold bitcoins, had a great moment where you didn't sell because you don't know whether there will be a better moment or not and we are always looking for better ones cause we regret in future if we made a bad decision at past. You should sell bitcoin when the price was acceptable for you. That way you could start a business and then you could convert your saving into bitcoins and hold them for a long time, like some companies do nowadays: They convert their assets into bitcoin.
But it's okay, don't worry. I've sold so many bitcoins in past, if I had them, I would be a billionaire right now but... You know one man bought pizza for 15 000 bitcoins. That's okay man and it's even logical, no one knew what would happen around it, no one, even 1K was an unbelievable barrier.

uneng

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Of course we should hold for life and not for lifetime. As I see makes no sense to save money your entire life, because when you get an elder you will regret about this decision thinking about how many things you could have done with that money when young, however by this point it's too late.
Money is here to serve us and I think someone who holds bitcoin or any other currency for lifetime is doing exactly the opposite, in other words: serving the money.

hatshepsut93

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The HODL meme started as an argument for long-term investment, the original HODL post described how hard it can be to trade on such a volatile market, so it's better to be patient and wait for a profit, even if you think you invested in a bad time. But some people might be taking it a bit too far, they want to never sell their coins, but it's fine - why should we judge them? If the mere fact of owning Bitcoin brings some happiness or a sense of financial security, that's good too.

SaShiRaJaVu

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Quote from: The Cryptovator on November 14, 2020, 01:07:18 PM

I had more than enough funds to start a real life business by selling my Bitcoin. And to be honest, starting a real life business was too important for me since I was doing a job abroad. But sadly, I was greedy and had been waiting for more bumps. Eventually, I regret and now I can't do anything with that fund since bought a dew worthless shitcoin.

Life priorities are important, if you felt that it is more important to start a business with the investment you had that is giving you a good profit then who is stopping you from booking your profit other than your greed to make more profit than what you have.
I understand the situation with bitcoin but did you invest in shitcoins after the rally, if so that was a grave mistake as i had my losses in shitcoin because i was holding them for a long time and when the market went down i was hoping that it would recover but then i had to sell everything at a minimal profit and there are some coins which is worthless now.
So everyone went through that rabbit hole and hopefully everyone had their share of experience Grin

.

kolbalish

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Hold BTCitcoin for life, not for a lifetime, that is correct. Lifetime is an extended procedure but the hold is limited to one stage. People hold for profit but there is no profit in lifetime hold. What will happen with this hold even if he dies suddenly?
It is promising to give it up when the profit is limited. Because if you hold for a long time, you can forfeit.

Imran232

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Quote from: The Cryptovator on November 14, 2020, 01:07:18 PM

Most crypto users are familiar with the HODL (Hold On for Dear Life). It's a good thing if you can HODL. I want to say HODL for dear life, not for lifetime. There is a reason why am I saying that. During the last bull run in 2017, I had more than enough funds to start a real life business by selling my Bitcoin. And to be honest, starting a real life business was too important for me since I was doing a job abroad. But sadly, I was greedy and had been waiting for more bumps. Eventually, I regret and now I can't do anything with that fund since bought a dew worthless shitcoin.

So if I HODL for dear life, then I should sell it for my need. Even I would won more BTC now since there were many opportunities when bitcoin dropped up to $3K.

What's your opinion? Should we HODL for Life or for Lifetime?

I agreed with your reply. Hold is the main thing in crypto and we need to hold bitcoin for our beautiful life but not need to hold for life time. Lets take a look in a simple example, just think you have almost $100k what is your life time income now you are a retired person and you Don't have any job. That means you have no income option. Now you have 2 option 1 is spending your lifetime saving amount or invest somewhere and live your life from profit. Now for investing you Will get lots of offer where has best return with more risk. And if you want to hold in bank yes you will get return but they also cut lots of fees, bank charge etc. So now if you get a option where you can hold your money and you can take profit by holding some time isn't it cool. Just follow the strategy buy bitcoin in a deep price and sell it when it goes up. That means we don't need to think that we need to hold fir life time. So now we understand that we don't need to hold for lifetime just hold for life. Thanks

pawanjain

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Nothing lasts forever

Quote from: The Cryptovator on November 14, 2020, 01:07:18 PM

Most crypto users are familiar with the HODL (Hold On for Dear Life). It's a good thing if you can HODL. I want to say HODL for dear life, not for lifetime. There is a reason why am I saying that. During the last bull run in 2017, I had more than enough funds to start a real life business by selling my Bitcoin. And to be honest, starting a real life business was too important for me since I was doing a job abroad. But sadly, I was greedy and had been waiting for more bumps. Eventually, I regret and now I can't do anything with that fund since bought a dew worthless shitcoin.

So if I HODL for dear life, then I should sell it for my need. Even I would won more BTC now since there were many opportunities when bitcoin dropped up to $3K.

What's your opinion? Should we HODL for Life or for Lifetime?

I would say that you have got just one life and if you don't use your money at the right time and it's you who should be blamed for it.
I try to save as much Satoshis as I can and at end I do save a decent amount of Satoshis after managing all my expenses.
Whenever I am in need of money and I don't find any other source then I use my btc balance and sell it for the market price.
I don't think much if the price is high or low. For me it is money and I use when I'm in need of it.

If the price is high I be happy thinking that I got a good profit for my investment.
If the price is low I be happy that someone else will get this precious bitcoins at a low price.

But not using it when you're in need for it is just waste of time, money and opportunity.

Smartprofit

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That's a very difficult question.

The problem is not that the price of bitcoin can fall. The problem is, the bitcoins we own are gray bitcoins.

Bitcoins are not fungible coins. Regulators are not keen to ban bitcoins entirely, however they only recognize white bitcoins purchased directly from miners or purchased from official cryptocurrency exchanges (KYC, AML, etc.).

Let's say you adhere to the HODL concept. Your country has a law that requires declaring bitcoins. What should you do?

If you refuse to declare your bitcoins, then you are a criminal. You have broken the laws of your country. If you list Bitcoins on your tax return, the problems can be even worse.

Your bitcoins are gray bitcoins. How to prove that they were not obtained by criminal means? Will the state be able to protect you if robbers attack you?

These are all very difficult questions. If the price of bitcoin continues to rise, bitcoin holders will have even more problems.

Majharul Saiif

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We perform everything to fulfill the necessities of our lives. There is no explanation to hold for a lifetime. The purpose of holding is if ever the price is too high or the price goes to a satisfaction level. There is no point in holding it if necessary.

TitanGEL

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Quote from: DevilSlayer on November 14, 2020, 10:58:46 PM

For me HODL is only applicable to use in uptrend, in my own perspective; there is similarities between HODL and also trend following. A lot of people made a mistake because they keep holding even though the trend is bearish where the selling pressure is high. If you do HODL when the trend is uptrend, there is a high chance that your money will make more money. Right now I'm holding my bitcoins and I will sell it if there will be a selling sign where the chart will have a reversal signs telling that the uptrend already exhausted and the market will enter in bearish market. We should learn from the mistakes of the others wherein a lot of people who lose their paper gains because they hold bitcoin even though its trend is bearish.

It is all about timing, HODL is not about holding it for a long period of time. It is about combining perfect planning with perfect risk management. Will you continue to hold if you are experiencing more than -20% or more, If I have that kind of portfolio I will immediately cut it because for me there are more opportunities in the market and there is also a high probability that my losses will increase more. I actually have portfolio where my goal is to do long term with it so basically what I do there is HODL but it doesn't mean that I will hold it forever. I have now more than 80% gain in that portfolio and my plan is to tranche selling it where I will sell 10% every breakout in order for me to secure the profit.

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Quote from: The Cryptovator on November 14, 2020, 01:07:18 PM

Most crypto users are familiar with the HODL (Hold On for Dear Life). It's a good thing if you can HODL. I want to say HODL for dear life, not for lifetime. There is a reason why am I saying that. During the last bull run in 2017, I had more than enough funds to start a real life business by selling my Bitcoin. And to be honest, starting a real life business was too important for me since I was doing a job abroad. But sadly, I was greedy and had been waiting for more bumps. Eventually, I regret and now I can't do anything with that fund since bought a dew worthless shitcoin.

So if I HODL for dear life, then I should sell it for my need. Even I would won more BTC now since there were many opportunities when bitcoin dropped up to $3K.

What's your opinion? Should we HODL for Life or for Lifetime?

I agree with you. I had about $1k in BTC when Bitcoin was $20k, and while it was not life-changing money, it could make some improvements to my life, but I did not sell anything. The price started falling, and I thought it's just going to be a tough couple of weeks after which Bitcoin will go back to ATH. Eventually I needed money and sold that portion of BTC, getting about $300 out of it, effectively losing $700 (probably the biggest loss of money of my life, come to think of it). People often hodl for too long, not really enjoying their success and their money. I think it's reckless because if you have 10 BTC but never use them, it's like you have 0 BTC. If it's a life-changing situation or something one really wants to do, I think selling (or buying the good/service directly with BTC) is the right choice.

Nalbo

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It's much more important to plan when to exit the market than when to enter. Just buying and letting it stay may not be always profitable. There's an inflation of currency that would hurt your actual profit in long run. $1 today won't be equal to $1 after 5 years. As well, Idle money itself is a loss. Your money should be able to generate you more money, for a profit or at least to retain it's value. So, hodling bitcoins should not be a 100% store and forget. You should atleast play with 50% of your coins to trade and generate profit.

RapTarX

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Of course, everyone holds for having more value at the end but you never know when to sell. If you sold all of your BTC @ATH, and after few weeks if BTC would be hitting $40k, I bet you still would regret cause you could have twice. Make plan now, when to sell. If it hits, sell it. That’s what I follow.
No one is holding for lifetime, just to inform you there are miners who never have sold their BTC. Still holding as they did. Don’t you think they will sell? They will but according to their plan, at their selling point. And so does everyone should have.

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