Topic: HODL: You have to wait 30 years for your money - page 2. (Read 543 times)
The entire financial system is not based on any rules and laws. It is controlled manually. Theoretically this is possible with bitcoin. But the main difference of bitcoin from Fiat is that it has no centralized control. Such manipulation is simply not possible. This index does not work in cryptoamnesia.
You cannot compare that of the DOW market and that of the crypto market. They are not one in the same so lets stop apply this backwards logic to both industries please and thank you 
If you bought in 1929 just before the downturn you had to HODL for 30 years until the price was back where you bought it
But you're missing one major point. And it's that these are crypto currencies and have nothing to do with those events.
BTC is about 7 years old and during these 7 years the price of 1 bitcoin made it from $0.01 to $8200.
Hodling in the crypto world especially when referring to bitcoins nowadays (due to the crazy price fluctuation that has been going on for the past few weeks) is of way shorter terms.
In fact, if you had bought in the beginning of October, you could have doubled your money. Was that 30 years ? That was 30 days
This doesn't guarantee that prices follow constant patterns in any way. Crypto is unpredictable and has a lot of factors that affect it.
This is absurd, you can't just tale past charts from completely different industry, apply it to Bitcoin and make any sorts of conclusions. It's not even right to take past charts of Bitcoin and extrapolate it to the future saying that Bitcoin will be worth millions in 10 years, because eventually the rally will have to slow down and the price will stabilize, there's also always a tiny possibility that Bitcoin will fail, either completely or just crash to low levels and stay there. Many people are expecting crash now, because we had many crashes in the past after big gains, but it took a few years or even a just few months to break even, so if the history will actually repeat itself, it will be far less than 30 years to recover from investing in the wrong time.
Bitcoin is not controlled by the bankers, so those rules don't apply in my opinion.
For all of those you like to say HODL.
If you wait long enough it will bounce back.
As an example look at the Dow Jones stock index.
If you bought in 1929 just before the downturn you had to HODL for 30 years until the price was back where you bought it
If you bought in 1966 just before the downturn you also had to HODL for 30 years until the price was back where you bought it
Don't believe it? see for yourself: http://www.macrotrends.net/1319/dow-jones-100-year-historical-chart
Are you willing to HODL when the price goes down and risk having to wait 30 years to get back up?
If you wait long enough it will bounce back.
As an example look at the Dow Jones stock index.
If you bought in 1929 just before the downturn you had to HODL for 30 years until the price was back where you bought it
If you bought in 1966 just before the downturn you also had to HODL for 30 years until the price was back where you bought it
Don't believe it? see for yourself: http://www.macrotrends.net/1319/dow-jones-100-year-historical-chart
Are you willing to HODL when the price goes down and risk having to wait 30 years to get back up?
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