Topic: How do you work toward hodling bitcoin? - page 4. (Read 1365 times)

Only now, seeing that the market is trending again, and the price of bitcoin is growing again, we understand that bitcoins had to be stored. Once upon a time, a friend threw 0.01 bitcoins to my wallet. I didn't fix it, but paid the phone bill. Today it would be about $380...

There is no need to test fomo and think about the past. Now such a scheme is relevant for sales: save bitcoins when they are cheap and give fiat, and when bitcoins are expensive, then immediately change them to fiat after payment by customers.

because it would create competition if he told her in detail.
We often hear influencers always say investing and saving but don't provide details about the type of person who can do this.
believe me, if people already support their families or relatives, it will be more difficult for them to do that than people who have no dependents at all.

It is not easy to do if you have no other source of income apart from your crypto trading; this is if you still get profit from trading in this field. Unless you live with your relatives or parents, it's fine.

But if you're an independent person, it's really hard for jobless people. But if you have a regular job somehow, you will be able to hold and perform what is called dca here in the crypto space. Or if you have another small business, you can still generate a source of income somehow; it can't be the only source of income in these times, to be honest.

I started the same way. It is probably a common experience for bitcoiners. Almost everything that I earned I would immediately spend, gamble it away or invest in some hyped up altcoin. Everything I earned would quickly vanish. There is no special method I used other than choosing not to spend what I have earned. It becomes tempting to spend during bull runs or when there are huge discounts for Black Friday. In the past I would try to rationalize this spending but after some hard lessons I am disciplined enough to keep my spending to less than 1% of my total BTC holdings per month.

Indeed, The conditions and situations of each individual will not be exactly the same. What must be there first is the intention and commitment to invest. If it already exists, it is possible that there will be efforts and efforts to make BTC investment materialize, even if it does not immediately achieve what is planned. Like buy BTC using the DCA method and I'm sure you will set aside even a small portion of your income later.

Well, that's still considered under the scope of "invest what you can afford to lose". I've said it many times that the money you put in bitcoin is money that was temporarily lost due to the uncertainty of profit and the high volatility of this asset. Withdrawing it early because of the emergency could only mean 2 things, you'll either lost some of your capital or lost the opportunity to earn huge profit in the next bullrun or ATH.
Always remember that, when you invest you should also have emergency funds and savings so your investments are safe from an unwanted withdrawals.

In holding Bitcoin, it would be better for us to do it consistently so that we can achieve the target we have set, but when the investment is underway we experience a situation that we don't want and we need the funds and we have tried to look for other alternatives but haven't found them so we have to Selling the assets we own is certainly not ready for us to invest.

So it is important to be able to prepare funds for expenses that we do not anticipate before making an investment, because by preparing these funds I am sure we will be able to overcome these needs and also will not interfere with the investment we are currently carrying out and also we can enjoy the investment profits that we have been waiting for.

I have seen that problem with other holders before. They want to hold but they have other expenses that need to be addressed.
What they did was they've sold their holdings and was able to solve and address the problem that they've faced but the consequence, they've lost their holdings or not to consider it a lost but they're able to exchange it for that peace of mind.
You can always get back to holding if you want to.

therefore it is important to have financial management, so that we can divide our money into several sub-needs, even though we only have one income, we can invest too, grateful for people who have many sources of income, collecting and maintaining the bitcoins they have will go a long way easier than people who depend on one income.

A financial strategy in this case needs to be had, for example, 100% divided by 40% needs, 20% emergency funds, 15% cash, 10% investment, or many other variants according to each risk profile in managing finances so as not interfere with bitcoin investments We.

Basically, the logic of establishing a model based on selling bitcoins and saving those bitcoins is actually better because it is done all at once. If it were me, I would make a balanced portfolio between fiat and bitcoin. Even if I were only selling with bitcoin, I would sometimes sell the bitcoins I had and balance them with fiat. After all, bitcoin is a volatile currency. I use some of my income to buy bitcoin, I usually set a certain percentage range. In general, savings are bitcoin, fiat money as a minority.

I create a topic last month in the local board that "if you are not doing anything don't invest in Bitcoin", but you can invest massively when you are an alternative income means of livelihood. Bitcoin investment attract investors to spend them if the people is not doing another thing to support the investment because you must eat and do other things. But whereby the investor is a business man and he investing his profit to invest every week or month and at the end of the year, he would save enough and wait for the next bull market to withdraw his investment.

When an investor has no business to back up the investment then the investment is also in danger.

I believe that holding is not really that easy in the end, we are talking about something that should be quite dangerous in the end because we are not living in the 90's or the early 2000's anymore. This is an era where we are talking about something that should be going a bit different in the end, so its going to be quite difficult to handle and should be a bit difficult to achieve. I get it, we are talking about making some money one way or another, but that doesn't mean that we are talking about a much harder economic situation, this is why its a trouble. I think it would be smarter to focus on making more income, that way saving and buying bitcoin and holding money would be better.

I love all the facts if you don't have a steady income it will be very difficult to hold theri are no other means to source money and their is no magic to perform so has to get money and since their are bills and needs to take care of them their is no choice but to use part of the money already invested in bitcoin, it better to get a job to solve the bills so has to remove the holders eye from the bitcoin and that way it will be easy to hold Bitcoin then. Because money is important and you must spend money every day one way or the other.

I have made many investments in the past and sold those investments, I have had losses on my investments as well as gains on previous investments but I have not stopped investing. Earlier investments may have been short-term but now I focus on long-term investments. I have been holding my investments for a long time, and enjoy holding my investments for a long time. Now not only do I hold my investment but when I have money I separate the extra money from the money and invest the extra money. In planning to hold the investment for a long time I think this investment will definitely do me good in future. I'm managing the amount of money needed on the move elsewhere so hopefully I won't need to sell the investment. Since I will not need to sell my investment, hopefully I will be able to hold my investment for a long time.

Someone who has a real source of income will not experience any difficulties in their own life, so it will be easier for such a person when they want to become an investor or trader in the market in any sector. And it is true that someone who has more sources of income in his life will also find it easier to implement Bitcoin hodling because he does not need to sacrifice all his assets to solve every problem that arises in his own life, so every thing that everyone wants to do must have a basis. on their respective sources of income.

Apart from the knowledge regarding what we are going to invest in, initial funds are also really needed for this because any investment will not be able to be carried out if there is no initial funds for investment even though a person has studied a lot in terms of science. Likewise, when a person has initial funds and other sources of income for his own life, he must also use the time to study the knowledge of what he will invest in later. So these three have become very important for everyone who wants to comfortably invest in Bitcoin or whatever we like in life.

I still think that in this life nothing can be achieved instantly, because every thing definitely requires a process and a way to achieve it. Even if there are things that can be achieved instantly in this life, usually those things will not last long and things that can last a long time are usually not obtained instantly through this life. So it is very important to know about the history of the assets we want to invest in before we decide for short or long term duration, because this is based on our desires and the capabilities we currently have.

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.

This is a very good point, and to hold Bitcoin is not something that is difficult, it's just to buy and keep and forget there, but this is tempting at the same time. This is why a good source of income is also advised if you are HODLing. No matter what, HODLing is not like regular investments, and if someone doesn't have a stable income source and believes that he could be HODLing, then such is deceiving himself unless he can overcome the temptation and sort for his money elsewhere.

I'm guilty of this at times too, this is even as my case is that desperate. I have other sources of income, but at times, I am too lazy to draw from those sources for a reason best known to me. For this, little bucks could be withdrawn from my supposed HODLed assets which is not supposed to be so. However, in my case, I make sure that I return the money back in multiples if I later have the chance. Regardless, it still doesn't exonerate me from a bad HODLer, and if the context of HODling must be strictly adhered to, the HODLer must ensure that there are adequate future provisions for the plan so that it would not result in any form of temptation of tempering with it.

before you invest in anything, Ask yourself first if you are willing to invest for short term or long term, If you choose the latter then you should know everything about it, from the history and its potential because you had to put your trust and money to invest. Always remember that there's no easy money and if you want to get instant result in investment which is too good to be true then you have to prepare for the possible consequences of the things that you want to happen.

Indeed, at least people who invest must have loose funds so that these funds can settle for years, until they can finally be withdrawn when they have doubled in the future. Most people want to get instant results and that is clearly not possible in the current situation. on the other hand, we must have knowledge about what we are investing in, remembering that without knowledge we will definitely get lost, luck will not come again and again.

When planning to hodl bitcoin it is important for one to be able to provide a source of income for provision and to solve problems,  if source of income is not available it is impossible to hodl bitcoin because when their is problem it only the investment people will look on to to get money to solve problems and at the end of it, it will be impossible for hodling Bitcoin to take place. When their is source of income one won't even have the time to depend on the investment.