#HODLing is not a smooth journey - page 9.

dunfida

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Quote from: $crypto$ on November 22, 2023, 11:18:36 AM

Quote from: _BlackStar on November 21, 2023, 11:33:19 AM

Holder knows that - obviously the journey will never be as smooth as people imagine, but the goal will be achieved when they are able to manage their psychology well. Let's look at the graph and the trend in the last year and imagine how happy the holders who still held their bitcoin were in the last year. I am one of them - I should also feel happy about what has been achieved now.

Of course they will know because a holder will not be as smooth as during their long journey, of course there must be twists or other obstacles that will always come close but when someone is able to overcome with about and has a mentality of surviving in holding it is certain that he will get through it because honestly it is not easy on a long journey but seeing the prospects for bitcoin in the future is much more valuable.

Who is not happy to see the annual chart of bitcoin growing into green, I also see my portfolio growing but I don't think this is how much maybe in 1 or 2 years it will be much higher the increase in the price of bitcoin and the chart will continue to go up.

If you do really have plans on holding up for long term then being that active on trying out to check from time to time about market conditions will really disrupt you or most likely will really be affecting you so bad
but if you are really that someone whose really that strong when it comes to certain conditions then checking out market condition and other related stuffs wont really be that an issue but if you do see
that it do really makes your targets a little bit dwindled just because you are actively checking out the market then it would be wise that you shouldn't really be doing this in the first place.

For me it would be understandable into those people who do really love on checking out market condition despite of a long term holder. It all matters on how you do control
yourself on such situations on which we know that not all would really be that good on doing so. Some do become that impulsive and some are really just that good on having such moderation
when it comes to risk taking factor or whatever things that correlates to it. It is really just that it wont really be that so simple on doing so.

Abu-Naim

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Quote from: Bitstar_coin on November 19, 2023, 01:30:55 PM

#HODLing is not a smooth journey, do you agree? Grin

Totally agree, it is mostly easier said than done for most investors. I personally can recall the different juicy opportunities I have missed to really make it big in this space as a result of a lack of patience to HODL. Especially those early days in crypto when you barely understand the market and easily get freaked out with every FUD and market dip.
Experience is the best teacher they say and I believe the majority of us are more experienced and mature over the years of being in crypto.

What is your view on #Hodling Guys?

Holding is often not for the weak or for the strong.
Holding is for people who have the financial stability and patience to resist the pressures of the crypto space's ups and downs, which frequently distain people who are holding their coins. I absolutely agree with you that many people believe holding is so simple that they can simply buy and hold their currency for the long term, not realizing that only the fortunate will be able to do so if they do not have a decent financial situation. Most people who lack strong capital do not hold for long since they may be utilizing some of the money they invested to meet their needs and other responsibilities. As a result, only those with enough money for upkeep are usually able to keep their coin if they are patient enough.

livingfree

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Quote from: Silberman on November 22, 2023, 01:20:33 AM

Quote from: livingfree on November 21, 2023, 05:30:19 PM

That's a known meme that I've seen before about "your plan and God's plan".

But speaking of holding, we have various experience if it's about it. It's easy for me and to some that have dealt with so much difficulty in different investments and assets that are also as volatile as Bitcoin.

While for the beginners, it's going to be looking like that they're hard at all because they lack experience on it.

If we're going to compare holding and trading, it's obviously harder to trade. And from there, you choose what's hard for you.

Holding definitely gets easier the more time you do it, not only because you learn a lot along the way which allows you to take better decisions and to not be as easily influenced by the market and it movements, but also because as the price of your assets goes up, a big correction or even a crash is not enough to put you in the red, and when you know that no matter what the market throws at your direction you can still make money, then at that point holding your coins becomes way easier.

Yeah. It becomes easy when you're already there and no matter is the situation of the market, it won't be painful to you because your goal is not to look at the short term process but the long term.

The strongest hands remains the same for the long term holding because it's more encouraging to do it. The longer you're holding, the more experience and stronger emotion that you learn.

It's true that even there's a crash, you might be in red but it's not enough to put your feelings down.

TakeItEasy

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We have to choose the assets rightly, that might be some use case in the future and that will also give some useful aspects in the future throughout the project. If we only Hodl token for the future and even we don't know its utilities then it would not be better like a smart traders. Mostly trader invest in some project by the telling of others people and even they didn't have studied the project by themselves but they still buy that for long term. What do you think if he didn't have a single knowledge how would be better for him. May be it has given him some profit but can't think for a long run he will be able to hold the profit.

This think also be kept in mind that we are all related to money and in everything there is need of money so always a person should hold that money which he never needs in his daily needs other wise it will not worth.

dezoel

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I think it depends on one's financial situation and capabilities. A person who invests every last bit of their savings or money that they have will surely find it more difficult to hold and won't have a smooth journey, mainly because there can be situations where they might be compelled to sell their assets even if they don't want to because an emergency might have come and they don't have funds apart from their Bitcoin holdings and they will have to sell them all or maybe a portion of it to complete the expenses of the emergency.

However, if someone invests some money in Bitcoin and plans to hold their assets for the long term and has more money left in their local currency as savings, such a person would have a smooth holding experience because they won't have to sell their assets for anything and can easily hold for whatever amount of time they have planned for.

wajik-tempe

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Quote from: pinggoki on November 22, 2023, 03:13:15 AM

Well, if you're guarding your bitcoins 24/7 then it's going to be a rough journey for you because any movement that will happen to the bitcoin is going to test your emotions and the movement is constant and will happen a lot of times. If you really believe in bitcoin then it's a smooth journey for you because you know that at the end of the day, bitcoin will be growing even if the bear season comes and that your waiting for bitcoin to grow will always be worth it. Trusting the process will make your so-called HODLing journey much smoother than you expect it to be.

the key, as you rightly pointed out, is trusting the process and believing in the long-term potential of your chosen assets. While it's tempting to be swayed by the constant fluctuations and FUD, having a steadfast conviction in the underlying technology and the future of cryptocurrency can make the HODLing journey much smoother. It's a test of nerves, but those who weather the storms often find themselves on the shores of significant gains. Experience does teach us to navigate these waters more wisely

$crypto$

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Quote from: _BlackStar on November 21, 2023, 11:33:19 AM

Holder knows that - obviously the journey will never be as smooth as people imagine, but the goal will be achieved when they are able to manage their psychology well. Let's look at the graph and the trend in the last year and imagine how happy the holders who still held their bitcoin were in the last year. I am one of them - I should also feel happy about what has been achieved now.

Of course they will know because a holder will not be as smooth as during their long journey, of course there must be twists or other obstacles that will always come close but when someone is able to overcome with about and has a mentality of surviving in holding it is certain that he will get through it because honestly it is not easy on a long journey but seeing the prospects for bitcoin in the future is much more valuable.

Who is not happy to see the annual chart of bitcoin growing into green, I also see my portfolio growing but I don't think this is how much maybe in 1 or 2 years it will be much higher the increase in the price of bitcoin and the chart will continue to go up.

red4slash

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Quote from: pinggoki on November 22, 2023, 03:13:15 AM

Well, if you're guarding your bitcoins 24/7 then it's going to be a rough journey for you because any movement that will happen to the bitcoin is going to test your emotions and the movement is constant and will happen a lot of times. If you really believe in bitcoin then it's a smooth journey for you because you know that at the end of the day, bitcoin will be growing even if the bear season comes and that your waiting for bitcoin to grow will always be worth it. Trusting the process will make your so-called HODLing journey much smoother than you expect it to be.

Now this is true, but it is not the only situation that will eventually make our Hodling journey not go smoothly, or will face a situation where we have to think hard to maintain what we have been holding on to. For example in a situation where our financial situation is completely destroyed, yes as humans good financial is the thing we want the most, but something we want does not always come to us, and when that time comes of course this becomes a problem or a challenge for us, whether we will maintain what we hold, or vice versa.

benalexis12

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Quote from: pinggoki on November 22, 2023, 03:13:15 AM

Well, if you're guarding your bitcoins 24/7 then it's going to be a rough journey for you because any movement that will happen to the bitcoin is going to test your emotions and the movement is constant and will happen a lot of times. If you really believe in bitcoin then it's a smooth journey for you because you know that at the end of the day, bitcoin will be growing even if the bear season comes and that your waiting for bitcoin to grow will always be worth it. Trusting the process will make your so-called HODLing journey much smoother than you expect it to be.

If you only trade a small amount in Bitcoin, then it's 24/7. I think it will just be a waste of time that instead of doing a lot of things throughout the day, it will just be consumed by your monitoring in front of your laptop or desktop. If it's small, only earnings can be obtained.

I've tried that because, with only a 30–50 dollar daily trade in Bitcoin, the only profit I can make in 12 hours can only be 2–5 dollars, depending on the aggressiveness of its volatility.

pinggoki

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Well, if you're guarding your bitcoins 24/7 then it's going to be a rough journey for you because any movement that will happen to the bitcoin is going to test your emotions and the movement is constant and will happen a lot of times. If you really believe in bitcoin then it's a smooth journey for you because you know that at the end of the day, bitcoin will be growing even if the bear season comes and that your waiting for bitcoin to grow will always be worth it. Trusting the process will make your so-called HODLing journey much smoother than you expect it to be.

bluebit25

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Sometimes it's ironic that when the game is our own control, the result is still failure and only a few receive great results. The game of knowledge, experience, application, creativity,... brings differences to investors in every space. It can be easy to plan any holding strategy, but operational errors cause the initial investment to always end sooner than the proposed goals.
I think perhaps not being able to control ourselves makes us easily susceptible to external factors like news, especially now when it's easy to find information without censorship, causing many people to be biased in terms of content, so that journey is an experience that is not shared by anyone. Each of us will have different experiences.

Silberman

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Quote from: livingfree on November 21, 2023, 05:30:19 PM

That's a known meme that I've seen before about "your plan and God's plan".

But speaking of holding, we have various experience if it's about it. It's easy for me and to some that have dealt with so much difficulty in different investments and assets that are also as volatile as Bitcoin.

While for the beginners, it's going to be looking like that they're hard at all because they lack experience on it.

If we're going to compare holding and trading, it's obviously harder to trade. And from there, you choose what's hard for you.

Holding definitely gets easier the more time you do it, not only because you learn a lot along the way which allows you to take better decisions and to not be as easily influenced by the market and it movements, but also because as the price of your assets goes up, a big correction or even a crash is not enough to put you in the red, and when you know that no matter what the market throws at your direction you can still make money, then at that point holding your coins becomes way easier.

livingfree

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That's a known meme that I've seen before about "your plan and God's plan".

But speaking of holding, we have various experience if it's about it. It's easy for me and to some that have dealt with so much difficulty in different investments and assets that are also as volatile as Bitcoin.

While for the beginners, it's going to be looking like that they're hard at all because they lack experience on it.

If we're going to compare holding and trading, it's obviously harder to trade. And from there, you choose what's hard for you.

Captain Corporate

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It never was, I have been a person who has held for nearly a decade now, but you know what happens? Life happens so you sell, and then you start to buy again, and then another thing happens. Just two years ago there was a sickness in the family, I sold all my money, which wasn't that bad considering 2 years ago was a good time to sell, the price wasn't that bad, I made some profit, and then sold it and paid for hospital and medical bills, saved for years, then another, and then another, then another. Life will throw all kinds of stuff at you, for me it was hospital bills, for you it could be something else. I have nearly zero now, not because I am incapable of holding, but because I have to pay the medical bill, what could I do...

Mpamaegbu

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Quote from: Hatchy on November 19, 2023, 01:49:19 PM

I still believe that HOLDING is much better than trading. As you can see in the provided image, holding for the long term involves less stress and risk compared to trading, where you could potentially lose your investment. Successful holders outnumber successful traders. However, it doesn't mean holding is without challenges.

You may be right in this regard, considering that we're referring to hodling Bitcoin here. On the long run, its most likely to pay off than trading. However, it's more enjoyable an experience to hodl Bitcoin from a year to its halving through to its post halving year and then sell off after that to rebuy during the bear season. Those who hodl all through the circle don't make as much profit from the exercise as those who hodl with precision as I suggested. As for trading, we know there are just very few who are profitable from it. Many who engage in trading only give back funds to the market.

gunhell16

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Quote from: AicecreaME on November 21, 2023, 08:08:27 AM

Hodling would not be a smooth sailing if you didn't prepare for it or if you put all your money on it and you don't have any source of income, since what you thought was you can earn everyday once you invested in Bitcoin.
To maximize your profits once you invested in Bitcoin, a long term hodling is a must, that's why you need another source of extra income therefore you would not be force to sell your bitcoin hodlings as much as possible.

If you believe that Bitcoin is a good long-term investment but you only have one source of income right now, you cannot make Bitcoin a long-term investment because you have to start with a short-term one.

Because it is better that you have more than two sources of income so that you can make a long-term investment so that you can hold Bitcoin for a long time, so that while you wait a long time for Bitcoin to be sold, there is another source of income for you to sustain your other needs.

Russlenat

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Quote from: bhadz on November 20, 2023, 02:43:42 PM

Someone who wants to hold for long like me don't have to think of how smooth or not it is. Because the problem goes on our way and it comes at any time that we're not thinking of. The journey of everyone won't be definitely smooth because we're all investors and we're aware of how the volatility of Bitcoin in nature and it sucks when we invest and we're not even aware of it which applies to the newbies. But by the time that you're seeing the result of your holding is growing, you will forget all of those lonely and FUD days on this market because you're only looking forward for that day of making a profit.

As long as you are on an investment, whether its short term or long term hodling, there will always be some risks that will make your investment quite challenging. And long term hodling creates a real challenge for us, most especially if we are not aware that we are hodling such coins that are highly volatile and are very uncertain. One day the price is good, the next day it comes to its worst, so it's really not easy to stay hodling particularly if you set your coins to 5-10 years maximum hodling.

Creating a long term plan does not even guarantee that you will succeed on long term hodling. But I say patience is the key. As long as you know the essence of patience and you understand how those coins work in the market, then long term hodling would be quite easy to manage.

ajiz138

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Quote from: taufik123 on November 20, 2023, 05:24:05 PM

Hold Or trading is actually each person's preference, they can choose one or both depending on how their abilities are.
If you have the ability or knowledge of trading good technical and fundamental analysis, trading may provide faster profits,
but the risk is indeed greater because the level of stress in trading will be greater.

Yeah everyone has their favorite things including trading, but I myself am not good enough for trading because I haven't done it for a long time except for occasionally it's not long and doesn't require more what is needed in trading.
Therefore I avoid trading so that there is no greater pressure including from stress when experiencing losses.

Quote from: taufik123 on November 20, 2023, 05:24:05 PM

Can Hold make you lose?
Of course, it can depend on how someone does the Holding correctly or not.
If he holds a Crypto Coin that has good potential, he will benefit from the rise that occurs,
but if the coin being held is an obscure coin and even has no volume, it will give a loss.
And the failure of the Holding is also due to lack of patience in holding back long-term.

HODL will not lose if you do not sell until the target goal, I would not consider HODL on other altcoins it has no recommendation especially with low volume it should be avoided because it is not worth HODL.
That's the most important thing patience must be tested more in the middle of the road to the goal, if someone does not have patience then of course they will sell it because of panic or what makes them afraid of losing.

JoyMarsha

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Yes, I agree with the fact that it takes a whole lot of emotional and mental strength to hodl onto something that you don't its future price tomorrow. It will be a rigorous process for someone who doesn't have a regular paying job or hustle to achieve in doing.

Many would agree that hodling bitcoin for long surely pays off but life emergency wouldn't allow them to succeed in doing that. They end up selling their bitcoin before time.

I think, for individuals who understand the potential of hodling bitcoin for long and upon that have a good-paying job or a side hustle, it will not be too challenging to hodl bitcoin in the long term because he or she would believe that the storm hovering around bitcoin during its bearish market won't be forever, that bull run will come someday(the way we are expecting it to happen next year, months after the halving season)

Fatunad

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Quote from: Cookdata on November 21, 2023, 11:29:01 AM

Quote from: Bitstar_coin on November 19, 2023, 01:30:55 PM

#HODLing is not a smooth journey, do you agree? Grin

Totally agree, it is mostly easier said than done for most investors. I personally can recall the different juicy opportunities I have missed to really make it big in this space as a result of a lack of patience to HODL. Especially those early days in crypto when you barely understand the market and easily get freaked out with every FUD and market dip.
Experience is the best teacher they say and I believe the majority of us are more experienced and mature over the years of being in crypto.

What is your view on #Hodling Guys?

source

If there is any digital currency that is stubborn and rigid, I will say it's bitcoin because I could remember vividly just last year or 1 year ago and some days when bitcoin when to below $16k, everyone were sad and panicking that bitcoin is going to repeat 2020 blood bath and it will go to $5k but look at it now, it's been stubborn to go below $35k since last month because some fundamental news are pushing it to break $40k and when that is successfully broken, next target is going to be $50k.

What are the lesson to learn from holding bitcoin? You need to be extremely patient about it, the journey is bumpy and at the same time painful but there is joy you get in the end and that's the profit you make at the end of the day when you decide to sell. It can be draining and challenging especially when the market is red everywhere but you see the green candles that were printed in October and November were worth the effort.

The amount invested is actually going to depict what you are going to make at the end of the day. Don't invest $100 and expect to get $20k in the next 5 years. That's like 5X and if bitcoin should do that from the current price, we will be discussing bitcoin to be at $100k plus which is possible and likely not possible. It's better you consider amount to invest.

Whenever that extreme bearish situation then making out further step or buying decision would really be the toughest thing that you would be able to consider on this kind of time. Cheesy

You would really be coming into a point that you would really be boggling whether you should be buying or having some entry point or you should wait further? These are the main
questions that you do have in mind considering that the market is really that truly unpredcitable and there's no way that we could be able to know on where it would be going or heading.
As a human being then it would be normal that you would really be that impulsive when it comes to market situations or conditions.

We would really be liking to have a smooth sail ride but on the time that you are really that able to experience the harshness of this market
then you would definitely be able to realize on what are the things that you must do.

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