Topic: Hodling gets easy over the years, but it's still hard. (Read 421 times)
It's a lot easier now that it's digital gold or whatever. I just never, ever sell on an exchange. I use bitcoin for spending any time I can. I figure I'll eventually whittle my stack down to zero and I'm totally okay with that.
It looks easier because you have
Both reasons will make you buy Bitcoin, but both will make the task more difficult, today you need to calculate an additional bill due to inflation and therefore you will have a little money to save and then invest in Bitcoin.
- Plan: In the past, investing in Bitcoin was considered as gambling because there was a possibility that everything would go to zero.
- A compelling reason: No one expected to see inflation higher than 5%, and supply chains would fuel inflation.
Both reasons will make you buy Bitcoin, but both will make the task more difficult, today you need to calculate an additional bill due to inflation and therefore you will have a little money to save and then invest in Bitcoin.
I just did some calculations. Figured out how much I'm down from the ATH. It's 7 figures and it hurts. I would have thought it would hurt more though. I guess at this point in the game the fiat losses just don't mean as much to me.
I live the same lifestyle I did before I got into bitcoin. The difference now is that I have a very minimal amount of debt (which I can pay off tomorrow if I really wanted to) and I'm essentially financially independent. I do still have a job at a company I love, but I don't rely on it for income. If I was fired tomorrow, I could just retire. Maybe not extremely comfortably, but I could easily live off of my stack even with these huge losses.
This isn't meant to be motivational or depressing, just an observation. When I lost 0.05BTC because my blockchain.info account got hacked in 2015, I was absolutely devastated. That was $20 I didn't really have and it was gone. Forever. I didn't tell my wife about it for years. Like it was some deep dark secret that I bought $20 of bitcoin but we couldn't afford to go to a restaurant for lunch.
It's still so strange to me that I got into bitcoin pretty early (2015), it's done extremely well, and if it drops 60% I just... Keep on going. It's different now. From the outside looking in it's kind of interesting. From the inside holy crap I just lost well over a decade's worth of salary. But it's temporary. I'd rather hodl than sell and give the government 27% of my gains. I suppose in hindsight giving them 27% would be better than losing 60%, but I won't ever know how to time the market. So I've just got to sit back, breath, keep calm and hodl on. Note to self: you should really meditate. Stress will probably come out unexpectedly with family and friends.
It's okay to be stressed. It's also okay to just trust the system and know we'll be fine in a few years. Who knows, maybe even months. The free market sure is funny some times. Well, stay safe out there. Only bet what you can afford to lose. If you can't afford to lose $20 don't bet it. If you can afford to lose a million dollars just take the risk and hope for a reward. We'll be okay.
I live the same lifestyle I did before I got into bitcoin. The difference now is that I have a very minimal amount of debt (which I can pay off tomorrow if I really wanted to) and I'm essentially financially independent. I do still have a job at a company I love, but I don't rely on it for income. If I was fired tomorrow, I could just retire. Maybe not extremely comfortably, but I could easily live off of my stack even with these huge losses.
This isn't meant to be motivational or depressing, just an observation. When I lost 0.05BTC because my blockchain.info account got hacked in 2015, I was absolutely devastated. That was $20 I didn't really have and it was gone. Forever. I didn't tell my wife about it for years. Like it was some deep dark secret that I bought $20 of bitcoin but we couldn't afford to go to a restaurant for lunch.
It's still so strange to me that I got into bitcoin pretty early (2015), it's done extremely well, and if it drops 60% I just... Keep on going. It's different now. From the outside looking in it's kind of interesting. From the inside holy crap I just lost well over a decade's worth of salary. But it's temporary. I'd rather hodl than sell and give the government 27% of my gains. I suppose in hindsight giving them 27% would be better than losing 60%, but I won't ever know how to time the market. So I've just got to sit back, breath, keep calm and hodl on. Note to self: you should really meditate. Stress will probably come out unexpectedly with family and friends.
It's okay to be stressed. It's also okay to just trust the system and know we'll be fine in a few years. Who knows, maybe even months. The free market sure is funny some times. Well, stay safe out there. Only bet what you can afford to lose. If you can't afford to lose $20 don't bet it. If you can afford to lose a million dollars just take the risk and hope for a reward. We'll be okay.
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