Hold your bag when you can - page 4.

jaberwock

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Quote from: Myleschetty on July 20, 2022, 09:58:27 AM

The world we are living in is far from perfect and issues like this where the institutions and FEDs take advantage of the people will always happen. This will make people realize the purpose of BTC and before that happen hold your bag when you can.

Thanks for sharing this, now we know the reason of the recent surge. Some of us will feel guilty because we are experiencing the benefits here while others cant withdraw their money and what if those people urgently need it? Do the banks give them any warning before they do such act?

Quote

A couple of days ago all I have seen are a lot of threads where people ask questions about the possibility of Bitcoin going down to $1 or coming to an end

So this is the other reason why you create such thread? Thanks again for the concern but don't worry we already know that those kind of questions are unreal and I think people who post it are just trolls, trying to make fun of others who are worrying a lot because of the current decline of the price. Btc even have a hard time falling from 15k, so how much more to a dollar?

Ryker1

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Quote from: virasisog on July 21, 2022, 12:54:34 PM

Quote from: traderethereum on July 21, 2022, 09:34:15 AM

Holding your bag is not easy because we always tempt by what happens to the market and many times we are panic seeing the market going down.
If you have a strong hand to still hold, no matter what happens to the market, you will have a chance to sell it at a high price.
Holding bitcoin while the price is down and buying back for more when the price is at a low price gives benefit to us to accumulating our bitcoin amount.
So that can give us a big chance to make a big profit later.

Panicking during the bear season is normal but if we have already seen how Bitcoin survived the previously bearish market and hit a good price during the bull run, we should trust its capability to resist this season again. I wonder why there are still people who are questioning Bitcoin's potential when in fact, it already reached lots of achievements and milestones.

Well my answer is no --that is not normal for me that you will panic during the bear market, what I mean is why people do panic if they understand how bitcoin will work, and how the market will played. We should learn how to hold our bags during the bear market season because we know that someday the price will back and it could be reached the next ATH that most holders waiting for.
That is why I encourage everyone to invest what they can afford to wait, not your money or your monthly or weekly allowance.

kaseygriffin

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Quote from: Myleschetty on July 20, 2022, 09:58:27 AM

A couple of days ago all I have seen are a lot of threads where people ask questions about the possibility of Bitcoin going down to $1 or coming to an end because they are panicked that Bitcoin may not experience another surge in price due to how the market downtrend a lot in just a few days ago. Are you wondering the reason behind this sudden surge in the price?
...

I find this funny because, after many years in the market, I have also gone through many different stages of it. But I never feel pessimistic about bad things, even when prices are down and gloomy for a long time. Sometimes the thoughts that people have imagined are absurd. Remember that the truth cannot be killed, and those who just want to distort it are trying to hide their own intentions. To me, I have full faith in BTC more than any other asset I know of. It has given me a happy life, so be grateful for the opportunities presented.

so98nn

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Oh yes, not similar but same kinda stuff happened in the India back in currency alteration process so that anyone with black money can get caught red handed.

There were kilometers long queues outside the bank as well as ATM's so that bank user can exchange the notes with the new one. This caused the chaos throughout India and billions of dollars were caught as black money!

So when it comes to centralised processing, government always has the power to overcome our money.

Is our money safe in the bank? Hell no! This currency alteration scenario shook the world on how one government can escalate the situation in the country.

Peeps with millions of rupees in cash were left question marked! They startled with the situation and lost all the money because if they report that much cash then that's definitely had legal actions for possession of black money.

However, when it comes to the bitcoin, its your own bank!

traderethereum

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Quote from: virasisog on July 21, 2022, 12:54:34 PM

Quote from: traderethereum on July 21, 2022, 09:34:15 AM

Holding your bag is not easy because we always tempt by what happens to the market and many times we are panic seeing the market going down.
If you have a strong hand to still hold, no matter what happens to the market, you will have a chance to sell it at a high price.
Holding bitcoin while the price is down and buying back for more when the price is at a low price gives benefit to us to accumulating our bitcoin amount.
So that can give us a big chance to make a big profit later.

Panicking during the bear season is normal but if we have already seen how Bitcoin survived the previously bearish market and hit a good price during the bull run, we should trust its capability to resist this season again. I wonder why there are still people who are questioning Bitcoin's potential when in fact, it already reached lots of achievements and milestones.

Maybe people who ask about bitcoin's potential don't really understand that bitcoin still hasn't unleashed its true potential.
Supposedly when the bear market comes, people can buy bitcoin again because it is an opportunity for them to have more bitcoins by buying bitcoins at low prices.
But unfortunately, they are still waiting for the price to decrease before buying even though we know that bitcoin can change at any time.
At the moment, the bitcoin price is back at $23k after yesterday's correction and we expect this price to increase again but stay alert because we are on a weekend where the price could get another correction.

virasisog

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Quote from: traderethereum on July 21, 2022, 09:34:15 AM

Holding your bag is not easy because we always tempt by what happens to the market and many times we are panic seeing the market going down.
If you have a strong hand to still hold, no matter what happens to the market, you will have a chance to sell it at a high price.
Holding bitcoin while the price is down and buying back for more when the price is at a low price gives benefit to us to accumulating our bitcoin amount.
So that can give us a big chance to make a big profit later.

Panicking during the bear season is normal but if we have already seen how Bitcoin survived the previously bearish market and hit a good price during the bull run, we should trust its capability to resist this season again. I wonder why there are still people who are questioning Bitcoin's potential when in fact, it already reached lots of achievements and milestones.

kryptqnick

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I think it's a generally wise advice that the op is offering. If you can abstain from selling (if there's no necessity to sell), hodl your BTC. I have little doubt that Bitcoin won't recover from its current situation, as the pas has shown multiple times that Bitcoin always recovered before. It doesn't mean that this will always be the case, but it is still reasonable to judge Bitcoin based on its previous behavior.
The only issue I have with the idea of holding when one can is if by holding you mean literally not using the coins. If they sit there till a certain target is reached or till there's enough money to spend on something big, it's fine. But if the idea is to hold no matter what pretty much forever, then the person might never use the coins, and thus they make zero difference to one's life and it's as if these were just numbers on the screen with sentimental value (unless the goal of the person is to collect money for their child or something).

traderethereum

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Holding your bag is not easy because we always tempt by what happens to the market and many times we are panic seeing the market going down.
If you have a strong hand to still hold, no matter what happens to the market, you will have a chance to sell it at a high price.
Holding bitcoin while the price is down and buying back for more when the price is at a low price gives benefit to us to accumulating our bitcoin amount.
So that can give us a big chance to make a big profit later.

Doan9269

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Quote from: Myleschetty on July 20, 2022, 09:58:27 AM

The world we are living in is far from perfect and issues like this where the institutions and FEDs take advantage of the people will always happen. This will make people realize the purpose of BTC and before that happen hold your bag when you can.
Always remember, not your key not your coin.

The funny act from the government end using the bank is to create a kind of mindset that will place fiat overshadow bitcoin but no amount of economy fortunes in fiat could be able to control the volatility of bitcoin price, they can say whatever they feels right in their own sight but diverting from using fiat banks to bitcoin decentralized network is the very best available everyone key into for an effective rescue.

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Quote from: cheezcarls on July 21, 2022, 07:50:55 AM

Yeah I am proud of holding my Bitcoin right now as I am doing DCA (dollar cost averaging) every month. I am in a profit for the BTC I’ve bought for June and July. But for May, I am still at a loss because I bought it when the price was more than $30k. I just simply stored it in a hardware wallet and not in a centralized exchange or wallet.

As it was proven that those who are able to hold Bitcoin will have a great end.
And besides, even if you are a trader, you also have to know how to hold and learn for that because of the market situation. We can just buy and then sell, NO, we still need to hold for a while and wait for the perfect time to sell. But yes, we need to be careful and find a good place to keep safe of our Bitcoin, or else, instead of being happy waiting for the Bullrun, might be replaced in regret for losing them all due to a hacking incident.

cheezcarls

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Quote from: Myleschetty on July 20, 2022, 09:58:27 AM

A couple of days ago all I have seen are a lot of threads where people ask questions about the possibility of Bitcoin going down to $1 or coming to an end because they are panicked that Bitcoin may not experience another surge in price due to how the market downtrend a lot in just a few days ago. Are you wondering the reason behind this sudden surge in the price?

It's because "CCP tanks protecting banks because the Bank of China (Henan branch) declared that people's savings in their branch are now investment products and can't be withdrawn."

The world we are living in is far from perfect and issues like this where the institutions and FEDs take advantage of the people will always happen. This will make people realize the purpose of BTC and before that happen hold your bag when you can.
Always remember, not your key not your coin.

Yeah I am proud of holding my Bitcoin right now as I am doing DCA (dollar cost averaging) every month. I am in a profit for the BTC I’ve bought for June and July. But for May, I am still at a loss because I bought it when the price was more than $30k. I just simply stored it in a hardware wallet and not in a centralized exchange or wallet.

Sapta2

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Iranus

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Quote from: TelolettOm on July 20, 2022, 06:53:19 PM

This may become one of the most common pieces of advice that we hear during this bearish market era. And this is not wrong, I also believe these words. It is better to hold our bag and keep it until the next bullish season right? It is better that we can hold them until someday for a long-term period without any doubt to Bitcoin right? Of course, we can do it because we believe in Bitcoin, no matter how many FUDs spreading around the world. In fact, may more Bitcoin is discussed and talked, the chance to be more accepted and rise up may be bigger.

While we are all aware that bitcoin will most certainly rebound in the future, we still need words of encouragement like this during a bear market period.
Whenever I hear advice like this, I feel better about my decision and feel that I'm not the only one to hold bitcoin, I'm not alone.
Every time I hear these words, I have stronger faith to hold and boldly share about bitcoin to everyone even though bitcoin is not doing well in the short term.

KaliLinux

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Quote from: Myleschetty on July 20, 2022, 09:58:27 AM

A couple of days ago all I have seen are a lot of threads where people ask questions about the possibility of Bitcoin going down to $1 or coming to an end because they are panicked that Bitcoin may not experience another surge in price due to how the market downtrend a lot in just a few days ago. Are you wondering the reason behind this sudden surge in the price?

It's because "CCP tanks protecting banks because the Bank of China (Henan branch) declared that people's savings in their branch are now investment products and can't be withdrawn."

The world we are living in is far from perfect and issues like this where the institutions and FEDs take advantage of the people will always happen. This will make people realize the purpose of BTC and before that happen hold your bag when you can.
Always remember, not your key not your coin.

I believe this issue of owning and HODLing your Bitcoin in your own private wallet couldn't have been overemphasized. People should understand that the Government have been and can still take this Kind of action when they feel like as we continue to see all over the world when the Government freezes people's Bank accounts or restrict them from the outright withdrawal of their own money which is Highly unlikely with your Bitcoin in your private wallet.

zasad@

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Quote from: davis196 on July 21, 2022, 12:52:14 AM

Many newbies would still put the blame on Bitcoin for centralized crypto exchanges not letting them withdraw their coins. Grin

Having money in the bank is like giving loan to someone without a collateral. This "loan" is supposed to be guaranteed by the government to some extent, but you don't know what will happen when the sh&t hits the fan. Every bank could easily find multiple excuses to block your bank account and legally steal your funds. What is stopping them is the market competition and the central bank regulation. No commercial bank would want to lose it's reputation and trustworthiness.
China is a totalitarian country and the government/central bank can do whatever it wants with people's savings.

Banks are bankrupt, so they cannot fulfill their obligations. Similar situations are happening all over the world. And people are used to keeping their savings in banks. What happens if a fool uses bitcoin? I think he will lose his coins faster. An easier solution would be to buy gold and gold jewelry.

noorman0

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The Chinese people cannot escape their dependence on banks, in fact they are the victims of the policy here and they have no choice.
But I've heard that a China CBDC has been issued. It should be a priority option for Chinese residents to keep savings that are believed to be more independent, equivalent to cash.

davis196

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Many newbies would still put the blame on Bitcoin for centralized crypto exchanges not letting them withdraw their coins. Grin

Having money in the bank is like giving loan to someone without a collateral. This "loan" is supposed to be guaranteed by the government to some extent, but you don't know what will happen when the sh&t hits the fan. Every bank could easily find multiple excuses to block your bank account and legally steal your funds. What is stopping them is the market competition and the central bank regulation. No commercial bank would want to lose it's reputation and trustworthiness.
China is a totalitarian country and the government/central bank can do whatever it wants with people's savings.

famososMuertos

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Quote from: Myleschetty on July 20, 2022, 09:58:27 AM

...//...,,,
Always remember, not your key not your coin.

Regardless of the scenarios, that premise, it seems that for some they are the so-called "small letters," they forget them, but in reality it does not matter what happens and what the most pessimistic scenario is, you must have control of your bitcoins, for everything else, trust.

worle1bm

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Quote from: passwordnow on July 20, 2022, 10:56:06 AM

It's crazy when you realize that someone still thinks that bitcoin can go to $1 or even zero. Well, it's different these days and not the same anymore as before because bitcoin has gone far and despite being a very volatile asset, it's unlikely that it will go that low.
Think of those people that are waiting just to buy cheap bitcoin like around $10k down to $3k, there will be a massive buying order on exchanges if it's reached and even to $1k so thinking that it could be low as $1 or zero is totally crazy despite of that "possibility".

Those who still beleive btc can go down to $1 are living in delusional world and that will never happen.We have already witnessed $3k price levels back around 2018 but was there massive orders on exchanges then? No because when there is dip people don't believe in it and on contrary they start selling coins.So these $1 and bubble theories will always be there but you need to focus on your goals.

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Quote from: Myleschetty on July 20, 2022, 09:58:27 AM

~ Are you wondering the reason behind this sudden surge in the price?

It's because "CCP tanks protecting banks because the Bank of China (Henan branch) declared that people's savings in their branch are now investment products and can't be withdrawn."

`~

I don't think this is the reason for the bull market of the past few days. News that banks freeze people's assets is nothing new and it has happened many times before. It happens not only in China but also in many other countries.

Quote from: darkangel11 on July 20, 2022, 04:20:31 PM

I bet these people who had money in that Chinese bank are now regretting it and wishing they had bitcoins instead. Bitcoin is the only money that cannot be taken from you. It can be manipulated when it comes to the price but you don't have to sell into the manipulation. You can wait it out like so many bitcoin OGs did in the past.
When all the dust comes down and all the FUD disappears you'll have more value in your portfolio than you had a cycle ago.

Funny thing. In that reddit post someone commented with "Not your tank, not your money" Cheesy

So true.

Unfortunately, that isn't going to happen, since China has banned all things Bitcoin related and it's just not going to happen. There is no way Bitcoin can be there to save everyone from their problems.

Topic: Hold your bag when you can - page 4. (Read 1130 times)