How do you work toward hodling bitcoin? - page 2.

boty

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Quote from: Obim34 on January 10, 2024, 09:53:21 AM

Quote from: Zanab247 on January 10, 2024, 07:07:53 AM

I have seen many people who sold their lands to purchased huge amount of BTC and hodl to recover the capital and still have some money to buy again which is the latest system many investors are using to grow their wealth these days in the community.

Not that he or she don't want to buy BTC, just that he or she what to know if someone can achieve something from such risk, I will advise you to take the risk to buy BTC in this bear run and hodl it for long and you will surely earn a good results at the end.

How appropriate can this become selling a fixed assets which will appreciate with time over the years to buy Bitcoin for the holdings. You know purchasing the Bitcoin is not a problem but why sell the land, this is what have rendered most persons into some kind of problem which they still can't come out from. Most hope after the Bitcoin bull dey get to use the capital into buying back the land unknowingly that over the years of holding Bitcoin the price of the land will aswell appreciate. I don't consider land the right property to sell when trying to accumulate Bitcoin.

It's not the right choice if we sell real assets to collect Bitcoin, because pushing ourselves too hard in investing can make us make inappropriate decisions in the investments we make, but it would be better for us to collect the remaining income we have after meeting our needs. what we need for a month.
Yes, you are right, when we sell land to collect Bitcoin, it is very impossible for us to buy the land at the same price when we have made a profit from the investment we made, of course we have to pay a higher amount when we want to buy it back.

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Quote from: Obim34 on January 10, 2024, 09:53:21 AM

How appropriate can this become selling a fixed assets which will appreciate with time over the years to buy Bitcoin for the holdings. You know purchasing the Bitcoin is not a problem but why sell the land, this is what have rendered most persons into some kind of problem which they still can't come out from. Most hope after the Bitcoin bull dey get to use the capital into buying back the land unknowingly that over the years of holding Bitcoin the price of the land will aswell appreciate. I don't consider land the right property to sell when trying to accumulate Bitcoin.

Switching from one investment to another is not a bad decision, if you have complete information about the investment and the right timing. Buying Bitcoin is definitely a problem for people who don't have capital. Buying Bitcoin is not a problem when you have the capital to buy it, so most people invest any other capital in Bitcoin if you have gold and land. There is no doubt that the value of land increases over time, but there is a chance that the price of bitcoin will increase more than land, and the rate of profit is also likely to be many times higher than that of land.

There is risk in Bitcoin compared to land, but given the rate of return we can easily reinvest that land and save a nice profit. One does not necessarily have to sell all of their land and invest in Bitcoin, but there is nothing wrong with investing part of the land in Bitcoin investment.

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Quote from: Mauser on January 07, 2024, 06:11:10 AM

Quote from: Accardo on November 13, 2023, 03:13:36 PM

The question is what are the possible means of securing our businesses and at same time saving the bitcoin made through the services we render? Mainly I crafted out a new skill out of me that earns me local currency; fiat. Yet building a fresh business from scratch isn't easy, most often, I still use bitcoin to invest on the local online business. Still keep me yards back from achieving my goal of hodling bitcoin made through online business. Contribute your thoughts and personal experiences. As the influencer didn't elaborate how he made his possible.

I think there are two parts to the story. The first one is having a successful business that generates profits. It doesn't really matter if these profits are being generated in Fiat or crypto currencies. We can always just trade our profit into the currency or coin that we need. The same goes for paying expenses and taxes, any liquid crypto coin can be converted back to fiat to pay the bills. The second part to the story is what we are doing with our profits. Assuming that our business has enough capital and we are not interested in reinvesting our profits, or planning new projects, we can just trade or hodl cryptos. It's a basic calculation to compare the return we make each year with our crypto portfolio, and how much return our business generates. As long as we don't lose any money in trading that is necessary to run our business, I don't see problem with. Also treating the two separately helps to focus on the profitability and to maximize our profits.

Financial flexibility has always been important to me. In today's volatile market, fluid fiat-crypto conversion is convenient and strategic. It shows how adaptive firms must be to handle different monetary types while maintaining cash flow

I strongly believe cryptocurrencies can be a good investment and store of value. Besides outstanding gains, being part of a financial revolution is important. Bitcoin, in particular, has shown durability and development potential. While maintaining corporate liquidity, hodling or actively trading crypto with surplus revenues is a good approach. It emphasizes corporate foundation building and new investment opportunities

Obim34

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Quote from: Zanab247 on January 10, 2024, 07:07:53 AM

I have seen many people who sold their lands to purchased huge amount of BTC and hodl to recover the capital and still have some money to buy again which is the latest system many investors are using to grow their wealth these days in the community.

Not that he or she don't want to buy BTC, just that he or she what to know if someone can achieve something from such risk, I will advise you to take the risk to buy BTC in this bear run and hodl it for long and you will surely earn a good results at the end.

How appropriate can this become selling a fixed assets which will appreciate with time over the years to buy Bitcoin for the holdings. You know purchasing the Bitcoin is not a problem but why sell the land, this is what have rendered most persons into some kind of problem which they still can't come out from. Most hope after the Bitcoin bull dey get to use the capital into buying back the land unknowingly that over the years of holding Bitcoin the price of the land will aswell appreciate. I don't consider land the right property to sell when trying to accumulate Bitcoin.

sulendra12

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Having a fiat company for your economy and use spare of that profit to invest on any other investments method such as Bitcoin is always a dream of everyone who are aware about this kind of thing. But like everyone said, It's not an easy task to do because having a business needs lot of preparation and knowledge as well as experience because it involves money and you don't want to burn your money because the lack of preparation.

Having a fixed offline job would be a best alternative but not everyone into that especially if they can make a "decent" living through crypto trading. But for me it's a sweet spot for now.

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Quote from: shinratensei_ on January 06, 2024, 07:56:55 PM

earn through altcoin and save it to bitcoin, this is most feasible way so far for me, might differ for other people but this way easily double your long term profit.
also, this way you are not worrying about selling the bitcoin since it acts like your investment you can be waiting for as long as it can to get the most of the bullish market, therefore would work out so well for your long term investment.
i believe there are many people that are also doing the same trading in altcoin, doing some airdrop and save the final result in bitcoin, but some people might not favour it because the volatility of bitcoin that sometime indeed affect the overall situation of our portfolio but then again if our vision from the start is to hold it until it reaches the all time high we aren't gonna be fazed by such thing instead we just continue to hold it for even longer term.

This is a way to increase bitcoin in our portfolio but it is not always as successful and easy as we are talking. Because the movement of altcoins is completely dependent on bitcoin, once bitcoin drops, most altcoins will fall as well. Even if bitcoin only drops 2-5%, many altcoins can drop 20-30%, so how can you increase your bitcoin count when your short-term investment in altcoins is not as expected? I have also tried this method and I only feel it is effective when you really have enough knowledge and skills to analyze and find altcoins with short-term price increase potential. Otherwise, this idea will be very difficult to implement because it is easy to say but not simple to do.

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Quote from: libert19

If I understand correctly. You want to build a business with BTC, sell products/services and collect the BTC from it. If it's so, first of all not all businesses succeed. If you have got faith in btc, which appears you do, why not just hold onto btc, why make this unnecessary fuss of selling and collecting again?

I have seen many people who sold their lands to purchased huge amount of BTC and hodl to recover the capital and still have some money to buy again which is the latest system many investors are using to grow their wealth these days in the community.

Not that he or she don't want to buy BTC, just that he or she what to know if someone can achieve something from such risk, I will advise you to take the risk to buy BTC in this bear run and hodl it for long and you will surely earn a good results at the end.

Dimitri94

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Quote from: Tuturtinular on November 13, 2023, 06:38:29 PM

Quote from: Accardo on November 13, 2023, 03:13:36 PM

~snip~

In my country, bitcoin can't be used as a payment currency so I didn't think about creating a business with bitcoin payments. But on the other hand, bitcoin is not popular in my country so if I open a business using bitcoin as payment currency it will have a bad impact on my business. I will focus more on business development and use the most common payments people make so that my products can be purchased easily. If my business is advanced and I can collect a lot of money, that's where I will start buying bitcoin. I think this way is more logical for me than forcing to create a business and accept bitcoin payments

It will totally depend on your environment. No one knows your business better than you. We need money to hold bitcoins. If I have money then I can buy bitcoins and if I don't then I can't buy bitcoins whatever we say. If your business is better with a fiat currency you do so and then take the necessary steps to purchase bitcoins and you can hold the bitcoins. There are many of us who buy Bitcoin and don't have the ability to hold it for long. Bitcoin should not be expected to bring them anything good. An investor must have extra money to invest for the long term and only then he can hold his bitcoins.

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Quote from: someone703 on January 06, 2024, 12:14:47 PM

Don't put all your eggs in one basket, even if that basket is made of digital gold. Set aside a chunk of your earnings for Bitcoin, then use the rest to fuel your business beast. Think of it as a tag team – your business keeps the lights on, while Bitcoin waits patiently for its big payday.

Don't go all YOLO on Bitcoin. Instead, be like a steady rain, drip-dripping that DCA goodness into your account every month. This way, you avoid the emotional rollercoaster of big buys and ensure you're always building your stack, even when the market's throwing a tantrum.

I think the phrase implies that we shouldn't all-in in one asset but we must diversify to cut risk and maybe increase our profit potential. I mean it's not about the basket or the storage where we put our assets. But, even if it's made of gold or we think it's very secure, we still can lose our money if the assets that we pick and put there are not good enough.

Diversifying isn't only limited to the different assets, but we should also diversify our money outside. You already gave one example there. Having a business is still tough, and not all can do it, therefore they just keep the extra money instead, so that they can have something to use in case they need something.

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Quote from: Accardo on November 13, 2023, 03:13:36 PM

The question is what are the possible means of securing our businesses and at same time saving the bitcoin made through the services we render? Mainly I crafted out a new skill out of me that earns me local currency; fiat. Yet building a fresh business from scratch isn't easy, most often, I still use bitcoin to invest on the local online business. Still keep me yards back from achieving my goal of hodling bitcoin made through online business. Contribute your thoughts and personal experiences. As the influencer didn't elaborate how he made his possible.

I think there are two parts to the story. The first one is having a successful business that generates profits. It doesn't really matter if these profits are being generated in Fiat or crypto currencies. We can always just trade our profit into the currency or coin that we need. The same goes for paying expenses and taxes, any liquid crypto coin can be converted back to fiat to pay the bills. The second part to the story is what we are doing with our profits. Assuming that our business has enough capital and we are not interested in reinvesting our profits, or planning new projects, we can just trade or hodl cryptos. It's a basic calculation to compare the return we make each year with our crypto portfolio, and how much return our business generates. As long as we don't lose any money in trading that is necessary to run our business, I don't see problem with. Also treating the two separately helps to focus on the profitability and to maximize our profits.

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Quote from: shinratensei_ on January 06, 2024, 07:56:55 PM

earn through altcoin and save it to bitcoin, this is most feasible way so far for me, might differ for other people but this way easily double your long term profit.
also, this way you are not worrying about selling the bitcoin since it acts like your investment you can be waiting for as long as it can to get the most of the bullish market, therefore would work out so well for your long term investment.
i believe there are many people that are also doing the same trading in altcoin, doing some airdrop and save the final result in bitcoin, but some people might not favour it because the volatility of bitcoin that sometime indeed affect the overall situation of our portfolio but then again if our vision from the start is to hold it until it reaches the all time high we aren't gonna be fazed by such thing instead we just continue to hold it for even longer term.

I think I have done this strategy before, I have an altcoin that really goes off and I was lucky to hold then. But I sold everything in 2018 before the collapse around March and subsequent bear market and put that into BTC and I'm so happy that I made that decision and just HODL on it and sell everything when necessary.

But I think majority here might have been started to really accumulate Bitcoin in the beginning and a hard nitty and grind like every week to buy and do DCA. But in the end, it's up to our strategy and how it fits our budget. The most important thing is that you have that mental toughness to stick to your goal of accumulating bitcoin as much as you can and sell them on top.

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Quote from: Accardo on November 13, 2023, 03:13:36 PM

Personally was going through some sales of mine in the past and the worth of the BTC I had spent few years back today. Thought about it, until I came across of a twitter influencer who also sold his products for bitcoin. And he mentioned he didn't hodl those bitcoin. But he worked strides ahead to build his business such that he'll hold every single bitcoin he made through sales. Same thing I linked to other people who sold products for bitcoin, many didn't hold their bitcoin. But, that's not the issue or problem. The question is what are the possible means of securing our businesses and at same time saving the bitcoin made through the services we render? Mainly I crafted out a new skill out of me that earns me local currency; fiat. Yet building a fresh business from scratch isn't easy, most often, I still use bitcoin to invest on the local online business. Still keep me yards back from achieving my goal of hodling bitcoin made through online business. Contribute your thoughts and personal experiences. As the influencer didn't elaborate how he made his possible.

Ok here I have a little story from my colleague who experienced this, so my friend likes to mine btc and he is also an online businessman.
Initially he built an online business and he found advertisements related to btc (initially) and he was interested then he mined it and invested a little of his income in btc a little I pinched him when he was successful, so I saw that some of the proceeds from his online business he set aside to save dibtc because according to him if he relied on mining alone it was not enough so he took the initiative to do it in his own way. Don't forget to exchange it when he gets profit, and save it back there.

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earn through altcoin and save it to bitcoin, this is most feasible way so far for me, might differ for other people but this way easily double your long term profit.
also, this way you are not worrying about selling the bitcoin since it acts like your investment you can be waiting for as long as it can to get the most of the bullish market, therefore would work out so well for your long term investment.
i believe there are many people that are also doing the same trading in altcoin, doing some airdrop and save the final result in bitcoin, but some people might not favour it because the volatility of bitcoin that sometime indeed affect the overall situation of our portfolio but then again if our vision from the start is to hold it until it reaches the all time high we aren't gonna be fazed by such thing instead we just continue to hold it for even longer term.

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Quote from: bettercrypto on January 06, 2024, 03:11:28 PM

And while we study things like trading, of course we do the DCA on cryptocurrencies that we think can give us future earnings too.
We also knew that trading is not that easy to do in the actual trade platform.

DCA though it might apply, it’s not some strategy that is very peculiar with altcoins (you might not have said altcoin but, having to use a more broad name like cryptocurrencies; it gives the altcoin picture) as, most altcoins still have low price. High price coins like Bitcoin is the reason why most individuals practice DCA to gradually accumulate until it becomes something of utmost value.

One means to hold successfully is by having other streams of income. These becomes the support that enables you not to be tempted to sell even in the worst market condition. It ensures your plans for your coin gets materialized.

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Quote from: someone703 on January 06, 2024, 12:14:47 PM

Don't put all your eggs in one basket, even if that basket is made of digital gold. Set aside a chunk of your earnings for Bitcoin, then use the rest to fuel your business beast. Think of it as a tag team – your business keeps the lights on, while Bitcoin waits patiently for its big payday.

Don't go all YOLO on Bitcoin. Instead, be like a steady rain, drip-dripping that DCA goodness into your account every month. This way, you avoid the emotional rollercoaster of big buys and ensure you're always building your stack, even when the market's throwing a tantrum.

I like the analogy you said and indeed it could be a good thing when we can encourage business and be able to invest in bitcoin as one of the future investments because after all this is a very worthy thing to do because even if the goal is to organize a good future but at least it can be a differentiator between ourselves and others because being in bitcoin even though it is not a necessity but when we know what is contained in bitcoin then we definitely make this as a tool for investment.

On the other hand DCA is also quite important if we want to find a feasible strategy for collecting bitcoin because after all, even though collecting a lot of bitcoin is something that can be profitable but in the end we also need to keep our current financial condition stable so that if in the end we cannot buy large at one time then DCA is the best choice to do.

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Quote from: Mame89 on January 05, 2024, 05:39:28 PM

Quote from: cozytrade on December 24, 2023, 03:00:39 PM

There are many strategies through which Bitcoin can be held as an investment. But before investing, you must think about what kind of investment you are ready for. But you can expect good things by holding long-term investments. As I am a small trader it is very difficult for me to hold Bitcoin for a long period of time. Because it depends on me to provide money to manage my family. So it became mandatory for me to sell bitcoins to procure daily necessities. But I want to make myself financially independent. Constantly struggled with how to successfully hold long-term bitcoin investments.

All investment strategies depend on how each of us manages them. I am also a small trader, the strategy I am currently using is to apply the DCA method as the basis for my investment. Indeed, my goal is for the long term, but sometimes I also have urgent needs so I have to sell some bitcoins to cover my needs, but of course I sell them if I make a profit, and I leave the rest for the long term.

However, I still use the DCA method even though I have to sell because of an urgent need. The point is that I continue to do this until the target we want is achieved. I also consider bitcoin investment as saving money because I don't believe in banks, I only use banks for transaction needs. That's why it's important to look for additional income so that your long-term Bitcoin investment is maximized and not disturbed when there is an urgent need.

All of us here in the community are looking for an opportunity to make a profit in the field of crypto. And this forum platform provides guidelines for us to get there by learning about Bitcoin, cryptocurrency, trading, and participating in the offerings that are here.

And while we study things like trading, of course we do the DCA on cryptocurrencies that we think can give us future earnings too.
We also knew that trading is not that easy to do in the actual trade platform.

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Quote from: benalexis12 on November 29, 2023, 07:33:45 AM

You said it right: if you hold Bitcoin in the long term, you cannot have another source of income such as work or business. Because without it, your Bitcoin holdings will eventually be ignored.

Of course, since you have no other source, you will now be forced to take out your bitcoin and convert it to the fiat currency of your country. That's why those who only hold bitcoins are those who actually have another source of income.

Accurate point when someone hold bitcoin and now his condition is not stable then surely there will be no other way to get money for Daily expenses so I believe that those will be successful who buy bitcoin with spare amount and still he can manage his home activities with his salary. I think that investments isn't necessary if a person cannot fulfil his requirements first because when a person has little amount and he uses it for investment then how he will eat and dress well?

Eat well, dress well and if you have some amount remaining at the end of a month from your salary then surely put it into an investment tool otherwise don't put yourselves in hazards. Some people think that if they don't have job then they will earn through bitcoin but I think that bitcoin do not give you monthly income and you can also not take your money when the situations are not favorable therefore if you have income then choose bitcoin but if you have no other source then keep work hard and find a job after which everything will become easy for you.

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It's typical that he did not hold at the time. Not many people knew what bitcoin could become and most were just hoping for it to reach x2 so they can sell with enormous profit. Would you blame them? For a normal investor who comes from stocks into bitcoin, a 10% move in a day is like a blessing because they sometimes don't make 10% in a year of holding stocks. A 50% jump that wasn't uncommon for bitcoin was like euphoria.
I also sold my first bitcoin when it gained 20% or something like that. I thought it's all about getting more fiat money fast so I could party. Holding grows on you when you realize that 20% is nothing and you should aim for the stars.

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Don't put all your eggs in one basket, even if that basket is made of digital gold. Set aside a chunk of your earnings for Bitcoin, then use the rest to fuel your business beast. Think of it as a tag team – your business keeps the lights on, while Bitcoin waits patiently for its big payday.

Don't go all YOLO on Bitcoin. Instead, be like a steady rain, drip-dripping that DCA goodness into your account every month. This way, you avoid the emotional rollercoaster of big buys and ensure you're always building your stack, even when the market's throwing a tantrum.

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To change your mindset & ensure you HODL Bitcoin it's important to focus on a few key aspects. Educate yourself about the long term potential & benefits of Bitcoin, get to understand its underlying technology & the market trends. Try to practise disciplined investing by setting clear goals & sticking to your investment strategy. Avoid being swayed by short term market fluctuations & FOMO. Try to surround yourself with a supportive community of like minded individuals who share your belief in Bitcoin's potential. By adopting a long term perspective, staying informed & remaining committed you can strengthen your resolve to HODL.

Topic: How do you work toward hodling bitcoin? - page 2. (Read 1365 times)