Topic: HODL ₿itcoin for Life, not for Lifetime. - page 8. (Read 1641 times)
It's always your choice, we are all different and have different approaches to this. I have fiat money saved up and I have income every month, so for me catching dips is not that important. Bitcoin is something I used to save money and that I know will grow over time. That time is not that important for me. It can be a 2, 3, 4 year period, but I know it will have a much higher price. I don't trust exchanges and don't move my coins around. Most of them remain on the same addresses since 2015. I have a wallet where I put my campaign profits and these money get spent whenever I need. I wouldn't expect someone poor who invests his savings in Bitcoin to be able to hold for many years and not trying to trade or gamble. The worse our situation is the more risky our approach becomes.
I would usually look at the charts from time to time, not just trying to be “greedy” in HODLing some Bitcoins for life. If we want to make the most out of it, let’s just sell 50% to 75% of the profit when it slightly drops from the projected resistance level. It’s gonna be a tough choice for us because the crypto market is so unpredictable these days. We may not know when will it pump or dump, because it may happen in just minutes, hours or so without warning.
It would be a tough choice, considering that there are only two options given as there are other factors that may influence one’s decision process. I personally prefer to hold and consider the condition I am confronting whilst selling my holdings crossed my mind. It is already imprinted in the mind of many people that the longer they hold the higher the profit. Although it is true that there is a great opportunity that can be obtained along with your holdings, it still not yet guaranteed that as time goes on its value probably decreases.
Well, it depends on if you need it or not. Heck, even if you don't really need it, if you want to, you can freely sell your coins, just make sure you're actually profiting off of it. It doesn't really matter at some point how much you're profiting off of it, as long as you're satisfied tbh. The matter of hodling for a lifetime isn't really realistic, and even if you were to make someone inherit your coins, it still isn't really that good imo. Bitcoin right now is a really profitable asset, but who can say that it would remain the same for the future right? Though it being a great currency wouldn't change even if we were dead tbh, but this is a matter of Bitcoin being a profitable asset instead of a currency after all.
I think about holding on but not for life hold will take time to invest and hold on but if the price goes up you can sell it if you pump a little bit of your own capital because if the price goes down then you will be in danger. Bitcoin is a very good currency to hold but it is not to hold for life the demand for this currency is much higher as the price will go up after a certain period of time bitcoin will gain more popularity and business will improve in every field of business.
I was thinking to hold em and made more profit because i believe that by the year end there will be a miracle happens that bitcoin price will increase, im just holding my coins for something will happens or incase of emergency when somethings very bad happens you still have cash to get, We knew that bitcoin is too volatile , when you can hold your bitcoin as long as you can then you can make more profit in it but when bitcoin died then goodbye to all your money.
I am sure you can profit from bitcoin, especially if the bitcoin price increases to the high price. Many people will do the same as you, and I am sure that they are waiting for the next bull run to make that profit. We can hold bitcoin for some time but don't hold it for a lifetime because you will not profit from that. We should know when we can profit by selling bitcoin at a high price, and it will be no problem if you can't sell at the highest price because you still make a profit. Hold bitcoin for life, and sell when you can see the profit, but don't bitcoin for a lifetime. You can make money from selling your bitcoin after you hold for some time.
I believe you pointed it out mate, HODL (Hold On for Dear Life) "but not for a lifetime" that was a clear message, and if you already gain some decent profit from your HODL time maybe its time to make some money to fulfill your dreams, like buying a house or establish a business that we want things like that should be considered. because we are part of the industry that everything is changing so fast thats why we cant sure how it will end. Just like you I've been stuck with some Shitcoins that give me a headache in 2018, thats why I considered things now based on reality and not on speculation and greed.
The market price is naturally volatile, thus, holding will give you nothing. Holding alone is not enough. If you are aiming for profit, you should know when to hold and when you will sell your holdings.
That's real, bitcoin's price in the market is very volatile and it takes a lot of courage for an investor to hold whenever they want.
Bitcoin is really a profitable asset when it is properly utilized or managed and patience and good decision making are keys to that.
So if you're a bitcoin investor you should know how to hold and make transactions depending on the market situation where you can help yourself grow and become successful. HODL bitcoin for life, you need to make your assets move and never waste and opportunity when bitcoin is in a positive movement.
I was thinking to hold em and made more profit because i believe that by the year end there will be a miracle happens that bitcoin price will increase, im just holding my coins for something will happens or incase of emergency when somethings very bad happens you still have cash to get, We knew that bitcoin is too volatile , when you can hold your bitcoin as long as you can then you can make more profit in it but when bitcoin died then goodbye to all your money.
Thanks for sharing the personal experience. Such missed opportunities always tug at the heart making a man feel "What could have been?". HODL is different for everyone. Its not simply about holding the "same amount of bitcoin" for lifetime. To me, HODL means always making sure that apart from other assets, you will hold bitcoin for life too, keeping it a part of your portfolio for life and not consider it as some internet fad.
This was important back when bitcoin was a novelty and seen as "free, internet money". It has come a long way since and is now a separate asset class which widens your options as a member of the global economy. You need to use it and also be a part of the ecosystem and community that recognizes and supports bitcoin. If you have option to spend using your cheaply obtained BTC stash, then as a HODLer, you can use it for your living expenses but keep replacing the BTC by spending your fiat earning.
As explained, there are more than one ways to hold. If you take profit, become successful and still keep a cold-storage, you will be a worthy of being called a HODLer. If you just sell at the top and forget all about Bitcoin and its ethos, then you are just another person who hit the lottery.
This was important back when bitcoin was a novelty and seen as "free, internet money". It has come a long way since and is now a separate asset class which widens your options as a member of the global economy. You need to use it and also be a part of the ecosystem and community that recognizes and supports bitcoin. If you have option to spend using your cheaply obtained BTC stash, then as a HODLer, you can use it for your living expenses but keep replacing the BTC by spending your fiat earning.
As explained, there are more than one ways to hold. If you take profit, become successful and still keep a cold-storage, you will be a worthy of being called a HODLer. If you just sell at the top and forget all about Bitcoin and its ethos, then you are just another person who hit the lottery.
The same thing in my mind, I was hoping for a higher price in 2017 while holding a good amount of bitcoin, when it plummeted, I thought it will rise again and didn't sell, however it was a wrong decision. What happened in 2017 may be repeated again in 2021 after bitcoin reach a new ATH, at that time many people will sell out and probably institutional-investors as well. Although we don't know how much the highest price will be, therefore do not regret selling not at the peak.
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.
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 am sure that your "sad" story in connection with holding Bitcoin is also a story of the many who shook their heads after 2017. Now, I am not so sure if the same story can be repeated this year but this is something we have to watch out for though admittedly it is so hard to decide when can be the right time to let go. As always we are greedy and we can be deceived with our perception that there can be more when the whole is already retreating back to the barracks.
The problem is timing the market, when we are going to sell? Do we see the top already? So it will be difficult until it's too late. I was in the crypto sphere in 2017, prior to the bubble but I don't know if we have reach apex at almost $20k or if we can still squeeze as investors or traders or so called experts are putting a narrative of $50k tops. So I guess we really need to understand what will be the new heights of the next bull run and see how much profit you can make.
If we holding it for a lifetime then it is literally a worthless asset because we are not going to send it right? So if there is some necessity to sell our crypto assets for some kind of betterment in our lifestyle then we shouldn't hesitate to do it.
Well, there is no necessity to boycott the cryptos even after we mdae enough money to start our dear life, I mean we can invest back some part again into cryptos which can make more profits years after again.
Well, there is no necessity to boycott the cryptos even after we mdae enough money to start our dear life, I mean we can invest back some part again into cryptos which can make more profits years after again.
Just like other investors of bitcoin most likely selling it at higher market price would be ideal. However, it could also be done by converting it to another stable crypto like USDT. USDT is one trusted crypto in the market and has been doing good as well when converting from bitcoin to USDT coins that might be needed to buy bitcoin when needed especially when there is a chance if buying bitcoin at lower market for investment purposes.
I think it's just for semantics maybe, we all know that there's no such thing as 'lifetime', sooner or later in life, we will have to sell our bitcoin for profits, except for the wealthy who obviously has so much money that they don't need to sell, instead HODL until they shift their investment outlook.
But for majority of us average joes, it will be tempting to cash out during a bull run in the next coming years. And I'm sure most of us has some price in mind when to sell and have plans on what to do with our returns in the future. So its going to be on a case-to-case basis.
But for majority of us average joes, it will be tempting to cash out during a bull run in the next coming years. And I'm sure most of us has some price in mind when to sell and have plans on what to do with our returns in the future. So its going to be on a case-to-case basis.
I guess there are different kinds of hodlers here. [1] Those who want their worth to increase in the future. These are the investors, the ones who are trying to make money out of it. [2] Those who are safely keeping their worth. These are the ones who are earning much in fiat and prefer to store them in Bitcoin to make sure their wealth's value remains intact and safe over the years or even until the next generation. [3] Those who believe that Bitcoin is the future of money, the ones who accumulate Bitcoin so that they have much to spend in the coming years.
It all depends on how you look at Bitcoin. For me, a portion is definitely lasting a lifetime, although if I need an amount of money which I cannot produce in fiat alone I will also be compelled to convert some.
It all depends on how you look at Bitcoin. For me, a portion is definitely lasting a lifetime, although if I need an amount of money which I cannot produce in fiat alone I will also be compelled to convert some.
What's your opinion? Should we HODL for Life or for Lifetime?
Same here, if I could have sell during the peaked of 2017, I could have profit big, but it's good though, real lessons for everyone. So I would say that if ever we see another all time high next year, or at least double what we have seen in 2017, definitely I will sell some of my stash, to start some kind of business.
So yes, sell it when needed, but don't sell everything though, might be better option to just sold off 50% of your stash and then stack again when we are in the bearish trend, and then wait for the next halving and then bull run again.
What's your opinion? Should we HODL for Life or for Lifetime?
If we're not talking about retirement financial security, then I can say we should HODL for life and sell at the most convenient price range, then start a business outside the crypto space.
Regrets are inevitable (all of us have regrets) in this highly speculative market, but there's always an opportunity to correct every mistakes we made in the past, and guess what, Btc is almost at the 2017-ish bull price.
We're almost at the same situation, though I still dont have enough funds to start up with my business model, hopefully Bitcoin will.
Jump to: