Hodling Bitcoin - page 5. | Bitcointalksearch.org

irhact

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Quote from: Mia Chloe on July 09, 2023, 12:26:52 PM

Holding Bitcoin is a choice however for those that have Bitcoin holdings how do you manage to minimize Bitcoin transactions to increase your hodlings.

Though hodling Bitcoins can be tempting to transact with sometimes

To make it easier for you to hold, you have to consider Bitcoin as an investment for you and not a currency that you spend everytime. When you see Bitcoin as an investment you'll look for means to get more money to buy Bitcoin to hold. Holding is an investment strategy to helps you to keep your Bitcoin for a very long period of time and this make it easier for you to profits from the future profits that Bitcoin will receive as it keeps getting more famous.

One way I use to minimum touching my Bitcoin holding is to keep it in a wallet that gives me full control of my private key then I delete the wallet from my desktop but keep the private key in a very safe place. What you don't see you can touch to spend, I only just view my profits.

alastantiger

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Quote from: Mia Chloe on July 09, 2023, 12:26:52 PM

Bitcoin hodling is something almost everyone on this forum is eager to partake in or already partaking in.

You are correct and we do it unapologetically.

Quote

However I did some research and discovered most forum members do a lot of Bitcoin transaction, and sometimes leaves them with little or no hodlings in their wallets.

This bold statement is incorrect. How on earth did you arrive at this conclusion. Do you have our keys to know that most of us do a lot of bitcoin transactions? I guess not. This should have come as a question and not a fact statement. I hold bitcoin and I spend bitcoin when I want to. I have a wallet for receiving bitcoin for jobs done and another wallet for holding and DCAing. So I do transactions in bitcoin but not from the Holding wallet.

Mr.suevie

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Quote from: Kelvinid on July 13, 2023, 08:01:20 AM

Quote from: Mia Chloe on July 09, 2023, 12:26:52 PM

Bitcoin hodling is something almost everyone on this forum is eager to partake in or already partaking in.
However I did some research and discovered most forum members do a lot of Bitcoin transaction, and sometimes leaves them with little or no hodlings in their wallets. Of course Some on the other hand have most of their Bitcoins as hodlings in their wallets although they still transact with Bitcoins . Holding Bitcoin is a choice however for those that have Bitcoin holdings how do you manage to minimize Bitcoin transactions to increase your hodlings.

Though hodling Bitcoins can be tempting to transact with sometimes

If you are into holding, then you must hold. Unfortunately, the majority aren't doing base on the plan which is why only a few investors become true holders while the others become panic sellers. I can relate to this situation, yes, I've been in planning to hold long-term but it never happens because I was tempted and worried when I saw price corrections. This means that my emotions are controlling me and acting based on it, not because this is the plan.

Thats means you have really planed your self before you started your bitcoin investment because its always advisable to use funds that you won't probably be bothered much if actually the price begins to go sideways. Holding bitcoin requires determination its just saving money in a bank but the difference with BTC is that you get huge profit if the price goes up and sometimes supposedly big loss thats if you chicken out and eventual sell to have back your money in fiat.

Z-tight

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Quote from: salad daging on July 13, 2023, 11:17:00 AM

I think it's better with hardware wallets to store bitcoins and it's not as easy to spend even if you can do it, but I've specialized that one wallet for holders.

Setting up your own air-gapped wallet is also great, after the mess made by Ledger and Trezor, so many people now consider setting up their own air-gapped wallet with a watch-only wallet as a better choice than hardware wallets. Though hardware wallets will be easier for newbies to use, they may make a mistake if they set up their own air-gapped wallet, or fail to use it in a safe enviroment.

Quote from: Silberman on July 13, 2023, 01:24:04 PM

so when I discovered bitcoin for the first time I did the same, which is surprisingly similar to what many holders were already doing so I had no problems adapting to it.

Yes, it is a great way to do things, the funds in the cold storage would only be spent if there is an emergecy and you have no other choice, but if not it remains locked for many years and will only receive funds, but not spend.

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Quote from: Z-tight on July 09, 2023, 12:36:58 PM

Separate your funds into two wallets.

Cold storage for holding BTC's that you don't want to spend anytime soon, this wallet should either be a hardware wallet or an Electrum wallet on an air-gapped device.

Hot wallet for holding BTC's for spending, funds in this wallet should be at least < or = $100, funds in this wallet would be for spending or for daily expenses. Dca is a great way to accumulate BTC's in your cold storage and whenever funds in your hot wallet goes down, you can 'refill' it for spending. This will help you to get the optimal balance between spending and holding.

The funny thing is that this is a strategy that also works with fiat, many years before I joined this market I was already doing this, one my by bank accounts was designed to be the account in which I accumulated my savings and the other one was the one I used to actually spend money on the things I needed and I wanted, so when I discovered bitcoin for the first time I did the same, which is surprisingly similar to what many holders were already doing so I had no problems adapting to it.

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I believe that holding Bitcoin for a long time without using it is simply a choice for some Bitcoiners and it depends on their needs. For example, if you have a job IRL and receive a good payment, you may not need to spend your Bitcoin since you already have money in Fiat. In this case, it might be better to hold onto your Bitcoin and wait for its value to increase, potentially yielding future profits.

On the other hand, people who don't have an IRL job and solely earn Bitcoin may need to spend some of it for their daily needs, such as paying bills or buying food. They may choose to hold onto a portion of their Bitcoin while using the rest to meet their immediate requirements.

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Quote from: Z-tight on July 09, 2023, 12:36:58 PM

Separate your funds into two wallets.

It's precise, so it won't bother the long term holder's wallet.

Quote from: Z-tight on July 09, 2023, 12:36:58 PM

Cold storage for holding BTC's that you don't want to spend anytime soon, this wallet should either be a hardware wallet or an Electrum wallet on an air-gapped device.

Hot wallet for holding BTC's for spending, funds in this wallet should be at least < or = $100, funds in this wallet would be for spending or for daily expenses. Dca is a great way to accumulate BTC's in your cold storage and whenever funds in your hot wallet goes down, you can 'refill' it for spending. This will help you to get the optimal balance between spending and holding.

I think it's better with hardware wallets to store bitcoins and it's not as easy to spend even if you can do it, but I've specialized that one wallet for holders.

I use my Electrum wallet as a hot wallet, it's always used as a frequent transaction in any case, including accumulating and sending to the main storage wallet, so if it's combined between a frequent transaction wallet and a storage wallet it's actually not a problem but with two separate wallets it's better for me.

Asuspawer09

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Quote from: Mia Chloe on July 09, 2023, 12:26:52 PM

Bitcoin hodling is something almost everyone on this forum is eager to partake in or already partaking in.
However I did some research and discovered most forum members do a lot of Bitcoin transaction, and sometimes leaves them with little or no hodlings in their wallets. Of course Some on the other hand have most of their Bitcoins as hodlings in their wallets although they still transact with Bitcoins . Holding Bitcoin is a choice however for those that have Bitcoin holdings how do you manage to minimize Bitcoin transactions to increase your hodlings.

Though hodling Bitcoins can be tempting to transact with sometimes

I mean personally, I didn't really do a lot of transactions on Bitcoin, it wasn't really that convenient compared to others like fiat or using a card as a payment method, plus it also has a big amount of fees just for a single transaction, maybe it wasn't really a big amount but you could probably make a transaction without fees on some platforms which is great. It was actually easy to HODL your Bitcoin in my opinion, I mean if you planning for the long term you could just buy Bitcoin and forget about it, I mean I was accumulating Bitcoin in the past months and I was really holding onto it really easy, the key is to have liquidated cash on you other than your investments. if you have enough there's no need for you to sell if you need some money, I think most newbies' mistakes here are investing in Bitcoin without having some sort of funds like emergency funds, savings, insurance, etc. which should be the basics before even starting to invest.

Kimonoe

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Quote from: Mia Chloe on July 09, 2023, 12:26:52 PM

Bitcoin hodling is something almost everyone on this forum is eager to partake in or already partaking in.
However I did some research and discovered most forum members do a lot of Bitcoin transaction, and sometimes leaves them with little or no hodlings in their wallets. Of course Some on the other hand have most of their Bitcoins as hodlings in their wallets although they still transact with Bitcoins . Holding Bitcoin is a choice however for those that have Bitcoin holdings how do you manage to minimize Bitcoin transactions to increase your hodlings.

Though hodling Bitcoins can be tempting to transact with sometimes

intended from the start that the bitcoins we bought were to be held in the long term. with such an initial goal, we must be disciplined to carry out the plan from the start. and to make transactions, I use another wallet with another capital, and with the intention to make transactions, so it must be differentiated and sorted so that the plan is carried out according to the track. it is undeniable that humans are greedy and greedy, so we must have another account to release it, so that there is still an account to hold and not mix it up with trading

isaac_clarke22

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Quote from: CryptSafe on July 13, 2023, 08:06:27 AM

OP I think this should be some sorts of observations from you because most of the accounts on this forum are not active including possible deserted accounts you have no idea about. Did you do a survey at the top of this topic or what because from there you can be able to draw up your charts and statistics for members to see before coming to conclusions or better still the right thing could have been that you did this based on article findings atleast this would be okay to go by and not a research because I see no survey you did here in the from of yes or no or tick the appropriate box.

I think it's just really the safe assumption of OP considering that hodling is like a common way for people to be in the safe side of crypto anyway especially when we're talking about Bitcoin. I did trading back then with Bitcoin and it just didn't work out for me so I resorted to just hodling full-time as I still have that 9-5 that I need to work out and having another crypto tab opened in my second monitor. Cheesy

Quote from: traderethereum on July 13, 2023, 09:43:17 AM

People holding Bitcoin will still be holding Bitcoin in separate wallets.
But they also do Bitcoin transactions because they need to use Bitcoin for the things they want, so it's not surprising that some people still transact using Bitcoin while they also hold it.
This may be about how you store your Bitcoin in your main wallet so that you can use other wallets to transact still using Bitcoin.
I'm sure those holding Bitcoin must still hold large amounts of Bitcoin in other wallets.

Pretty much describes me. Cheesy

There are wallets I use for the common transaction stuffs wherein my local merchants allow Bitcoin while there are also wallets that I never ever open ever and it's never connected to internet connection for obvious reasons. Pretty sure it's a common discipline for hodlers out there to have a separate world for their crypto wallets.

traderethereum

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People holding Bitcoin will still be holding Bitcoin in separate wallets.
But they also do Bitcoin transactions because they need to use Bitcoin for the things they want, so it's not surprising that some people still transact using Bitcoin while they also hold it.
This may be about how you store your Bitcoin in your main wallet so that you can use other wallets to transact still using Bitcoin.
I'm sure those holding Bitcoin must still hold large amounts of Bitcoin in other wallets.

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Quote from: Hypnosis00 on July 13, 2023, 08:54:51 AM

There are two types of Bitcoin Holder,
1. Short-term holders - those who usually sell their coins and empty their wallets.
2. Long-term holders - those who usually hold for many years and see their wallet address filled with a lot of Bitcoin.

Perhaps, it was their choice and you know what, it was hard to convince a person to hold when in their mind is to sell when the price went high. You can't force someone to hold if it was not in their mind.

Ultimately, everyone has their own perspective as to what to do with their Bitcoin. I have found that people who don't have money worries are considered to be holders compared to people whose savings, or better yet, life savings are in Bitcoin. This category of people would always have to spend their Bitcoin to cover their needs and that's perfectly fine like you already said. There is no one-size-fits-all for this sort of thing.

Quote from: Mayyyy on July 13, 2023, 05:51:09 AM

I couldn't find a thread for beginners, so I'll ask here with your permission. What advice would you give to a beginner who wants to be knowledgeable about cryptocurrencies? Where to start?

This forum is a good place to start, it's a knowledge gold mine if you do know where to look. you can the search button to find aged discussions but if you want structured resources, you should check out binance academy.

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Quote from: AicecreaME on July 13, 2023, 08:48:33 AM

Actually there's nothing wrong with it.

Whether you hold or spending your bitcoin, it's completely fine. There's no reason for someone to limit their Bitcoin's transaction if they really need it, they earned it to spend and hold it whenever they want, or maybe they are just spending some of it but the majority of their bitcoin is in different wallet for safety purposes. There's no point of hodling your Bitcoin if your bills and your daily needs are already waving at you.

You are right, and not everyone here has the same way and use of treating their bitcoins because bitcoins can be used according to their individual needs.
and I'm sure most of them prefer to keep their bitcoins in a wallet they think is safe but that doesn't mean they don't use it because if someone really needs it there's no harm in using it. But that doesn't mean they use everything, maybe it's more appropriate like the saying dig a hole close a hole. They use but still buy it back because they know in the future the price of bitcoin will be much higher and can't miss this.

Hypnosis00

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There are two types of Bitcoin Holder,
1. Short-term holders - those who usually sell their coins and empty their wallets.
2. Long-term holders - those who usually hold for many years and see their wallet address filled with a lot of Bitcoin.

Perhaps, it was their choice and you know what, it was hard to convince a person to hold when in their mind is to sell when the price went high. You can't force someone to hold if it was not in their mind.

AicecreaME

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Actually there's nothing wrong with it.

Whether you hold or spending your bitcoin, it's completely fine. There's no reason for someone to limit their Bitcoin's transaction if they really need it, they earned it to spend and hold it whenever they want, or maybe they are just spending some of it but the majority of their bitcoin is in different wallet for safety purposes. There's no point of hodling your Bitcoin if your bills and your daily needs are already waving at you.

Findingnemo

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Quote from: Mia Chloe on July 09, 2023, 12:26:52 PM

Bitcoin hodling is something almost everyone on this forum is eager to partake in or already partaking in.
However I did some research and discovered most forum members do a lot of Bitcoin transaction, and sometimes leaves them with little or no hodlings in their wallets. Of course Some on the other hand have most of their Bitcoins as hodlings in their wallets although they still transact with Bitcoins . Holding Bitcoin is a choice however for those that have Bitcoin holdings how do you manage to minimize Bitcoin transactions to increase your hodlings.

Though hodling Bitcoins can be tempting to transact with sometimes

I don't know how you gathered information about forum members don't have any balance in their wallet, did you tried the address which is in their profile or signed in message for authentication in case if they want to recover their account then you are wrong. I don't see any reason for anyone to disclose their primary address even the secondary addresses cause it will deanonymize them and voids the purpose of privacy m

CryptSafe

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Quote from: Mia Chloe on July 09, 2023, 12:26:52 PM

Bitcoin hodling is something almost everyone on this forum is eager to partake in or already partaking in.
However I did some research and discovered most forum members do a lot of Bitcoin transaction, and sometimes leaves them with little or no hodlings in their wallets. Of course Some on the other hand have most of their Bitcoins as hodlings in their wallets although they still transact with Bitcoins . Holding Bitcoin is a choice however for those that have Bitcoin holdings how do you manage to minimize Bitcoin transactions to increase your hodlings.

Though hodling Bitcoins can be tempting to transact with sometimes

OP I think this should be some sorts of observations from you because most of the accounts on this forum are not active including possible deserted accounts you have no idea about. Did you do a survey at the top of this topic or what because from there you can be able to draw up your charts and statistics for members to see before coming to conclusions or better still the right thing could have been that you did this based on article findings atleast this would be okay to go by and not a research because I see no survey you did here in the from of yes or no or tick the appropriate box.

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Quote from: Mia Chloe on July 09, 2023, 12:26:52 PM

Bitcoin hodling is something almost everyone on this forum is eager to partake in or already partaking in.
However I did some research and discovered most forum members do a lot of Bitcoin transaction, and sometimes leaves them with little or no hodlings in their wallets. Of course Some on the other hand have most of their Bitcoins as hodlings in their wallets although they still transact with Bitcoins . Holding Bitcoin is a choice however for those that have Bitcoin holdings how do you manage to minimize Bitcoin transactions to increase your hodlings.

Though hodling Bitcoins can be tempting to transact with sometimes

If you are into holding, then you must hold. Unfortunately, the majority aren't doing base on the plan which is why only a few investors become true holders while the others become panic sellers. I can relate to this situation, yes, I've been in planning to hold long-term but it never happens because I was tempted and worried when I saw price corrections. This means that my emotions are controlling me and acting based on it, not because this is the plan.

Accardo

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The topic of holding bitcoin is not always left to fade easily without getting addressed. OP's research should be considered a guess work, he must have read topics like this where people talk about spending their bitcoin before concluding that everyone sell their btc. If he ventured into such a research like he pointed out he would have provided some results. However, hodling is a personal decision and ranges from one's financial capacity outside bitcoin to the kind of product they purchase with their bitcoin. If I have bitcoin and what I want is sold in bitcoin why shouldn't I purchase with the bitcoin in my wallet. What matters everywhere is that we shouldn't spend recklessly or let our wallet run dry.

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Quote from: Mia Chloe on July 09, 2023, 12:26:52 PM

Bitcoin hodling is something almost everyone on this forum is eager to partake in or already partaking in.
However I did some research and discovered most forum members do a lot of Bitcoin transaction, and sometimes leaves them with little or no hodlings in their wallets. Of course Some on the other hand have most of their Bitcoins as hodlings in their wallets although they still transact with Bitcoins . Holding Bitcoin is a choice however for those that have Bitcoin holdings how do you manage to minimize Bitcoin transactions to increase your hodlings.

Though hodling Bitcoins can be tempting to transact with sometimes

Keeping Bitcoin is one of the simplest strategies for arofit for beginners. Probably even the simplest, because every investor and trader starts with this.
But in such a strategy, it is very important to understand at what stage you decide to sell bitcoin. And it is desirable to have stable coins, which you will use to buy bitcoin if its price becomes low and attractive for purchase.

These are the first basics of successful investing. In general, it is important to have a ready-made scenario of your behavior for buying and selling bitcoin.

Topic: Hodling Bitcoin - page 5. (Read 993 times)