holding is not an easy thing - page 19.

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legendary

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Quote from: Tomtomwole on May 02, 2021, 05:52:15 PM

this brings me to the question of maybe holding is for the rich who can afford to buy and forget. ? lets discuss this, thank you.

rich people and wealthy countries have a lot of advantage in either doing Hodl or doing day trade, imagine that someone rich would take 50 million US dollars and buy bitcoin for the price of $ 10,000 and decide to do hodl for many years, that person will be richer with this big increase that the bitcoin price had... that old phrase: "money calls money" that in my country many people like to talk. when someone doesn't have a lot of money and invests and then bills appear to pay that person will withdraw the investment money to pay bills

Quote from: iv4n on May 05, 2021, 03:53:32 AM

It's hard when you are starting from zero, or even worse, from minus! But it's not impossible, there're exceptions, especially in crypto... there's always a way, but a person should be able to find it and push it!

a small bankroll Is a headache, the person has to work hard and the profits are few, which makes it very stressful. the same applies to making Hodl, imagine that the person has $50 and decided to buy bitcoin for the price of $54000 to make hodl, if in 2023 the price of bitcoin is $150.000 that person will keep $150, waited more than 1 year to get $150. Is a little demotivating, unless the person invests in some altcoin that generates 10X profit in that case it would be worth just making hodl with small amount of money

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Quote from: Tomtomwole on May 02, 2021, 05:52:15 PM

...
this brings me to the question of maybe holding is for the rich who can afford to buy and forget. ? lets discuss this, thank you.

Yes, for rich people it's easier! They can invest and hold for years... they will still have money for everything else! On the other side many people live from day to day, so money enough to eat and pay bills today, for tomorrow you need to find money! So for those people, it's really hard to put anything valuable aside and just wait... it's hard to wait with an empty stomach!

It's hard when you are starting from zero, or even worse, from minus! But it's not impossible, there're exceptions, especially in crypto... there's always a way, but a person should be able to find it and push it!

beerlover

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Quote from: ?? on ??

for now what I have noticed with people who are pursuing crypto is wanting to get rich quick. we should throw such thoughts away, because they usually backfire on us. trading must be disciplined, measured, and be able to take advantage of opportunities and not be greedy, take sufficient profits and look for opportunities to come again

Such traders are always part of all markets and those people are finding success regardless of they are actively trading or simply holding because it is up to their level of skills and we cannot have any general opinion here. Moreover everyone is here for making profit so it may sound like being greedy for some people and may not for others.

I must agree that holding is not a simple thing when you are fully depending on the returns of your trading/holding. Managing your holding along with other savings/income could be the only solution here rather than going for loans with the expectation of repaying from the returns of your holding may worsen the situation rather than leading to any solutions.

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Quote from: hahay on May 04, 2021, 02:47:48 PM

Yes, I have experienced this several times because I am not a rich person with a lot of money. But I don't agree that holding is only good for rich people, because slowly if you continue to learn and have money management for your life needs, then I believe holding will still be possible for those who are not basically rich people. But yes, what is certain is to make a lot of deposits first before they end up being spent on buying and holding. With a more mature plan it will keep your investment profitable, it doesn't mean you just buy without a financial plan because obviously it will be dangerous in the future.

Always set out plans even if you do just tend to hold on what you have currently accumulated, dont just simply accumulate blindly because everything should really be in plan and moderation.

When it comes to investment then nothing beats out when you do know on how to handle up risk and dont expect much on getting rich instantly.It is a long process and depending on what are the

steps you've been doing in the past. Holding is indeed not an easy thing but if you do set out goals which makes you inspire then i dont see for it to be really that hard.

hahay

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Yes, I have experienced this several times because I am not a rich person with a lot of money. But I don't agree that holding is only good for rich people, because slowly if you continue to learn and have money management for your life needs, then I believe holding will still be possible for those who are not basically rich people. But yes, what is certain is to make a lot of deposits first before they end up being spent on buying and holding. With a more mature plan it will keep your investment profitable, it doesn't mean you just buy without a financial plan because obviously it will be dangerous in the future.

wiss19

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Quote from: JooBra on May 04, 2021, 01:46:24 PM

Quote from: goaldigger on May 03, 2021, 05:00:27 PM

Holding good coins is not easy especially if you plan to hold in the next 3 years at first but life forces you to make a big decision on selling that holdings to support for your needs.

I do experience a lot of this and right now I regret some of those big decision before but i have no choice that time so I have to move on now and start buying again. I’ve learned from this experience that good coins will always come and you can always buy then any time so keep working and never give up just because you sold early, that’s still a good profit.

I feel you since I had similar experience and with Covid around needed some money to take from crypto. Life comes first at the end so no bad feeling from me even I would have been in a big profit now.

Managing everything under control must be a big challenge for all of us hence holding cannot be an exception here. Only for the people who are all having alternate income stream might be able to continue their crypto holding at all times and people do not have such other income stream might need to face life's other demand time to time. I must agree that holding is not that easy for all of us.

Fredomago

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Quote from: JooBra on May 04, 2021, 01:46:24 PM

Quote from: goaldigger on May 03, 2021, 05:00:27 PM

Holding good coins is not easy especially if you plan to hold in the next 3 years at first but life forces you to make a big decision on selling that holdings to support for your needs.

I do experience a lot of this and right now I regret some of those big decision before but i have no choice that time so I have to move on now and start buying again. I’ve learned from this experience that good coins will always come and you can always buy then any time so keep working and never give up just because you sold early, that’s still a good profit.

I feel you since I had similar experience and with Covid around needed some money to take from crypto. Life comes first at the end so no bad feeling from me even I would have been in a big profit now.

Yes indeed, if you are in a situation where you needed to choose between life and anything that you holds. You need to sacrifice and think positively, you can buy again and try to collect more.

As long as there's life the opportunities is always open to everyone, regret should not be for long, move forward and try to cope up who knows what are those waiting.

Continue and be more practical, a good test that will lead you to more successful journey inside this industry.

JooBra

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Quote from: goaldigger on May 03, 2021, 05:00:27 PM

Holding good coins is not easy especially if you plan to hold in the next 3 years at first but life forces you to make a big decision on selling that holdings to support for your needs.

I do experience a lot of this and right now I regret some of those big decision before but i have no choice that time so I have to move on now and start buying again. I’ve learned from this experience that good coins will always come and you can always buy then any time so keep working and never give up just because you sold early, that’s still a good profit.

I feel you since I had similar experience and with Covid around needed some money to take from crypto. Life comes first at the end so no bad feeling from me even I would have been in a big profit now.

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Quote from: maxreish on May 03, 2021, 06:40:38 AM

Its all about in a good management plan. As for me, my daily needs has been separated with my funds of holding. I make sure, when I set a goal profit it will be stick to that plan and will never sell it off at deficit price.

When there are times that I badly needed money for an urgent situation, there is a separate fund for that. However, I understand others that needed to sell off some of their bitcoin to compensate their needs. As long as it is for a better solution, there will always a good chance to accumulate more bitcoin if market corrections occur.

Fund management is very important. I do similar strategy like you.
To me, sometimes when bad situation arrives it's difficult to maintain but i will try to maintain

FanEagle

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Quote from: Smitty Werben Man Jensen on May 04, 2021, 10:54:21 AM

It is true that altcoin or bitcoin holding is something that is not easy, but holding when bullish is very profitable,
I suggest multiplying your coins during the bullish season, and look at the market now !, Bitcoin prices drop causing altcoins to drop drastically except for Doge and Ethereum,
buy coins that are still cheap now then HOLD, don't let you sell it at a low price

Holding in the times of bearish is too hard, I agree but you need to make use of dips then you will never find bearish markets as hard as looks now. It means you can do cost-averaging at the times of bearish markets. If you keep buying at dips along with holding, you will get cheaper buying prices for all your bitcoins in average. This is one simple method, most people are already into practice. Just learn and enjoy the benefits of long term holding among both bullish and bearish markets.

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Quote from: Tomtomwole on May 02, 2021, 05:52:15 PM

alot of people really want to hold but the daily needs of life make them sell off at little profit and solve their needs which is really good. but later they notice the coin they sold cheap is worth enough to liberate them. this kind of occurences are painful but its really not his fault. this brings me to the question of maybe holding is for the rich who can afford to buy and forget. ? lets discuss this, thank you.

It is true that altcoin or bitcoin holding is something that is not easy, but holding when bullish is very profitable,
I suggest multiplying your coins during the bullish season, and look at the market now !, Bitcoin prices drop causing altcoins to drop drastically except for Doge and Ethereum,
buy coins that are still cheap now then HOLD, don't let you sell it at a low price

bitgolden

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Quote from: Tomtomwole on May 02, 2021, 05:52:15 PM

holding is for the rich who can afford to buy and forget. ?

No. Holding is for the people who plan up everything perfectly.

It means you may buy some $100 worth of bitcoins (for example) but you must plan up for $50 worth of bitcoin for $1 million target and $25 worth for $100k target and some $10 worth of bitcoin with 10% gain from your buying prices which maybe used for immediate commitments of your life.

So, without proper planning, never go for any investments which will definitely end up in hard regretting on either side. Like, if you choose a shit coin then you will regret for your bad decisions or if you invest into bitcoins but if you sell earlier then again will lead to regretting. But, when you sell along with your plans then you may avoid those hard feelings.

repear7

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Long-term holding is the most difficult for me. Honestly, I sold coins in dip lot of the time in the past. However, I can explain the rules of holding.
You have to believe in that currency.
You need to analyze the previous market.
And to sell that coin you have to take a price target. If you hold a coin for lifetime, it is worthless.

Oceat

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Quote from: imstillthebest on May 03, 2021, 09:53:33 PM

what is the purpose of hodling when you are going to cash out it daily ? its not a big deal if price increases everyday but price falls too .
this will only make them more poorer .
what they need is to seperate the money that they will be needing in the real world from the money that they are going to invest . holding is an easy thing if you are commited because this dont require physical or mental work

The thing here is that OP is depending only to his investment but at the same time it's his source of daily needs too. This is a very bad idea because just like what you said it's getting worse over time specially if the market suddenly dump. That's why the only way or recommendation I could give is to have another job that would sustain their daily needs. Then separate the investment only money and hodl it for a long term until Op is satisfied already with what price he'll be able to sell.

Ararbermas

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Quote from: Tomtomwole on May 02, 2021, 05:52:15 PM

alot of people really want to hold but the daily needs of life make them sell off at little profit and solve their needs which is really good. but later they notice the coin they sold cheap is worth enough to liberate them. this kind of occurences are painful but its really not his fault. this brings me to the question of maybe holding is for the rich who can afford to buy and forget. ? lets discuss this, thank you.

actually it's not enough reason to sell off even you need some cash in your pocket just to sustain your daily needs .. Because if you really serious when it comes hodling then no matter what you will never touch it.. And if you really have the mindset of being true hodler it will never happen also in my opinion wherein until you achieve your goals even how long it will takes, it doesn't matter..

Unfortunately mostly now are not serious when it comes to this kind of investment and i agree what you've said above OP, Perhaps its a big lesson for them to take this seriously that's why they experience such things.. Too good to be true..

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Quote from: Tomtomwole on May 02, 2021, 05:52:15 PM

alot of people really want to hold but the daily needs of life make them sell off at little profit and solve their needs which is really good. but later they notice the coin they sold cheap is worth enough to liberate them. this kind of occurences are painful but its really not his fault. this brings me to the question of maybe holding is for the rich who can afford to buy and forget. ? lets discuss this, thank you.

It really doesn't make sense to lack basic necessities, and at the same time have a significant amount of a cryptocurrency stored somewhere. Therefore, it is quite normal for people to do such things, especially those who cannot afford long-term investments. Here we come to the essence of your question, can the poor get rich with a little money invested - or do the rich get even richer just because they already have enough money to live life the way every person should live it?

I would not generalize what the outcome is for the poor, but there is a good chance that they are not able to profit like those who have a surplus of money to gamble, so to speak. I can definitely agree that holding is not an easy thing, for the poor for sure - but sometimes also for the rich who misjudge the moment and get caught up in the FUD.

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Quote from: isaac_clarke22 on May 04, 2021, 07:23:38 AM

I am not rich, but I don't feel that holding is something that is supposed to be worried about by me in the first place.
It sometimes depends on how you hodl, OP.

And it also depends on the situation and if that also is not our priority to HOLD rather than to focus on spending, it surely getting hard.

Holding or saving is really hard at first especially when you don't have other sources of income. But it could be habitual once you make it as our first priority. It just like we need to sacrifice others (wants) in order to do this otherwise, it remains just a dream and hopeless thing to do.

Kittygalore

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Quote from: MIner1448 on May 04, 2021, 02:58:26 AM

In fact, it is so, it is necessary to have the utmost patience in order to receive superprofits, taking into account the current volatility. I always try to consolidate profits, but it also often happens that I am in a hurry to drain everything, I try to fight this, because in fact, you can make even more profits.

If you don't have any necessary expenses that need to be addressed then hodling is easy and it will be easier if you are busy doing other things that will get your mind out of thinking of selling your bitcoin. Distract yourself with other things so you don't have to think about all the time.

isaac_clarke22

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I am not rich, but I don't feel that holding is something that is supposed to be worried about by me in the first place.
It sometimes depends on how you hodl, OP.
Did you convert almost all your money to crypto, then that is something that you should be really worried about.
Market is unstable in the first place and by knowing that you couldn't win at all times might make you change your mind on how much you should invest in here.

lienfaye

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Quote from: Tomtomwole on May 02, 2021, 05:52:15 PM

alot of people really want to hold but the daily needs of life make them sell off at little profit and solve their needs which is really good. but later they notice the coin they sold cheap is worth enough to liberate them. this kind of occurences are painful but its really not his fault. this brings me to the question of maybe holding is for the rich who can afford to buy and forget. ? lets discuss this, thank you.

I have the same sentiments. I sold some of my coins not because I want to but because its needed for finances not knowing the value will grow and be worth huge.

Thats really painful but what else can I do? it already happened and cant turn back time. Now I have a firm decision to hold and forget, I can do better now since my financial status is somehow improve compared before that im always counting on my crypto earnings.

Holding is not easy but if you're determine to succeed using this strategy then you must be firm and forget that you have crypto investment until you reach your set target price to sell.

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