Topic: How do you work toward hodling bitcoin? - page 5. (Read 1365 times)

Whenever I have the opportunity, I do mention that as one works towards investing in Bitcoin for the long time, he/she should always try the DCA approach in his investment. Especially for those who have small capitals to inject into it. The benefit of using the Dollar cost averaging is that it helps you to monitor the process and changes at the same time. You are able to tell at what point should you add more investments, and at what point should you reduce your investments, even though you have more to invest.

It is good to advise anyone investing into anything including bitcoin to always have some money reserved with hi. For contingency sake. There are things that will likely come up in your life as you move on that are in need of urgent attention and practically unavoidable, one of which can be health related or any other thing else, regardless, one should always have something reserved for contingency and this should be aside from the money you must have kept for your day-to-day upkeep.

Making these,provisions outside your investment will help you to consistently invest with a budget and will help you to manage the investment growth evern more effectively since you don't have to come into the investment funds to solve those force majeures.

In my opinion, if you want to secure your business, you should make a better investment than bitcoin. So it is unwise to take a loan or sell your personal assets for investment. I have seen many people who take out huge loans from banks to buy bitcoin and end up paying huge fines along with the profits. The most profitable in this crypto market are those who have more experience who don't take much trouble to profit from crypto. Because they understand how to trade when and which currency to buy at the right time.

However, it is difficult to implement, everyone certainly has the goal of making a profit, but in our journey of holding Bitcoin, many things happen that are outside of our control.
If we look at Bitcoin price movements since the past, no one should have doubts about better prices in the future, but the negative news and price drops that occur sometimes cause panic.
Plus, urgent needs in real life sometimes thwart the plans we have built from the start.

In an effort to store or maintain Bitcoin for a long period of time, such as planning from the start, there are many things that must first be thought through carefully, including when we first enter this investment we must be prepared with everything so that our goals are achieved.

It is quite possible that there are very few people left who hold Bitcoin at such prices. After all, now their profit could be estimated at thousands of percent, and it is very difficult to resist not locking in such a profit, at least some part. And those who are investing in Bitcoin now are clearly counting on x4-x5 and can invest very large capital in this.

Those who invest in Bitcoin now understand that Bitcoin is now a completely different asset than it was more then 10 years ago, now states are interested in it, the United States is interested in regulating cryptocurrencies, this says a lot and therefore such an investment seems more reliable now.

If we know Bitcoin is a currency that we can rely on, of course we will try to collect it and hold it until we can make a profit from Bitcoin, everyone uses their own way to collect the amount of Bitcoin they want. If we can do it consistently then we will be able to enjoy the benefits of Bitcoin.
In holding Bitcoin we must not be influenced by the news, we must stick to the goals we have set to be able to make a profit, if we are influenced by other people's news then of course we will not be able to achieve what we have planned.

At this current moment i have no other source of income apart from bitcointalk earning (bounty,airdrop,signature) so definitely it's very hard to hold Bitcoin for the bull run,
Because i need to sell Bitcoin for fiat money then i have to buy daily foodstuffs to survive in my life, But i tried my best to hold in Bitcoin for better living in the future life.

I remembered when the value of bitcoin dropped to around 190 dollars each. I wanted to buy bitcoin during those times, but that's why I didn't have any bitcoin to buy. I did try to borrow money from my friend at that time, but I failed.

That's why it was a winner when the price of Bitcoin dropped and held when 2017 entered; it spiked 20k in the size of the profit of those who bought and held. So now, I don't want to miss the chance that I have no holdings of cryptocurrencies. So I'm sure I'll make some money during the bitcoin halving and bull run.

It is true that it is good to use it as a side income while running for life but many people are not used to it and everyone chooses bitcoin for holding. No one can give accurate news about these there is no guarantee how long it will last in the market, but bitcoin is a very reliable currency. As long as bitcoin exists its value will increase and is currently becoming more popular. As the number of bitcoin investors increases bitcoin will rise. Even if DCA invests in strategy it will take a long time to rise to the top.

Holders from back in 2009 have sold their coins long back. Because they bought at say 50-100$/BTC and after seeing it grow to 200$ they would have 4x or 2x that capital which means they would have booked profits and sold off. So there is no comparison between their time and now time. At present collecting bitcoin is the most important method to grow your bitcoin and not fiat. If you are holding and not spending crypto you are essentially in the profit for when you would sell.

Definitely spend the coins in times of need but try to use fiat maximally for that if possible.

If they prioritize their business over any other things, yeah, they are willing to sacrifice only for the sake of their business. For some people, maybe it works like that, where they treat some of their BTC's as a currency for regular spending, while the other is only dedicated for hodling.

There are also people who only treat all of their BTC as an investment asset. If they need money for spending, they will only use their fiat. They can also be able to sell their BTC early if they don't have a fiat anymore. The number of people who only treat all of their BTC as currency might be lesser than it. This is something that some BTC users are worrying about.

I thought the OP was asking generally, not limited to opinion of the forum and for that I don't think it's everyone that stays in this forum even know what signature is all about. I agree with your DCA strategy, if I hold bitcoin from any great means. I will continue to that even when the price is low like in bear market, it will strengthen you financially in the bull run when people will be running after the bitcoin price to buy some bitcoin to hold. I will even buy more during this bear market and continue to hold. It might not be easy but holding bitcoin is worth it 100 times than not doing anything at all.

Another thing is to consider during this time is security, it might be as easy as we think but everyday, we have bitcoin spy and thiefs everyday on bitcoin network looking for the next victim to suck their blood and by that I mean to suck away their sats from them. Security of bitcoin is very challenging and if you work to protect it, you must also work to safekeep it against other bad people.

An inspiration from looking at the Twitter link above.


Every investment decision should be based on a deep understanding, especially in BTC. because prices can drop unexpectedly. I think it might be time to collaborate with other businesses like the ones you're referring to. This means that we have to look for a payment mode that accepts Bitcoin. but I also still don't know whether the breakthrough can be seen as working so as to create an ecosystem where Bitcoin can circulate between businesses without having to directly exchange it into fiat currency due to the regulatory process, but in my opinion it should be tried even though it is not easy.

Truly there are many ways to accumulate and not touch the bitcoin, that you earn in your business, it's just a matter of thinking outside the box. Although you didn't share any ways that can be helpful to the OP, this would have added to his knowledge of not touching his hard earned money.

As I stated before, in order not to touch the bitcoin that he makes as profit in his business, he must get another source of income to support him, because obviously he's struggling to make ends meet, therefore he's bound to spend his bitcoin on upkeeps.

He can get a second job, work extra hours in his business, learn a new trade as a side hustle, add new features or brands in his business. These are few tips on how he will not take out bitcoin from his business.

Explore other cryptocurrencies or other local businesses, friends. There are just ways or ideas that come up for example every time you make a sale and get paid in Bitcoin, put a small part of it into your hodl savings and, well, hodl. This way, you not only spend the cryptocurrency, but also save it. One thing is, BTC is unpredictable, yes that's been the case for a long time. So, in principle, think of Bitcoin as not just an investment, but as an opportunity to engage with a new market or offer your product to consumers who may only have Bitcoin to spend. Diversify investment ways - Bitcoin is one stream. Explore other cryptocurrencies or local businesses.

At least to me that is not really an excuse, holding is difficult for everyone regardless of the amount of money they invest in the market, however even if the benefits are greater for those that invested the most money, you can still get great benefits with bitcoin even if you just invested a little bit of money, for example someone that invested 1k at the bottom which was 15k could get 10 times that amount if bitcoin reaches 150k, and while 10k will not allow you to buy lambos or any other luxurious car, that is still a decent amount of money.

It has come to a new side of capital and sentiment for Bitcoin users. It is known as a secure and technically rewarding cryptocurrency. It is messaging in a technological way to capitalize in a balanced way to provide users with their own control and complete privacy. This can be a good way to create a challenging but rewarding business, where you can develop the skills and growth you need. You must at the same time perform it independently and move in tune with market conditions. Bitcoin can be a good way to trade then on online trading and exchange platforms, and it gives some convenience to your needs and can help you save a lot of seed. It can help you exchange bitcoins in a trusted and secure way, so you can look it up to start trading.

Those who hold Bitcoin from 2009 to 2015 the price of Bitcoin was low that time holding don't effect in the economical condition of a holder. But nowadays the price of Bitcoin is increase a lot those who want to hold Bitcoin they suffer a lot specially little investors who investor small amount. They don't have enough capital for invest and after sometime investment they sell their Bitcoin and get small profit. Because of their economical condition and they can't invest that use amount of money for one bitcoin that's why they invest for a small time not for a long term but they try to hold it for long.

The best way I could see this been possible is by allocating a percentage of your earners for hodling and making that your investment in Bitcoin while you use the other percentage of your earnings for expenses and reinvesting into your business or building other businesses. Hodling can be easily done when you have income coming from other businesses or sources and you dedicate an amount that you want to be saving for the future.

We're hodling out Bitcoin for profits so if our business is also giving us profits, I don't see a problem with reinvesting our Bitcoin into our business and growing it to a point which it can generate enough profits that'll make it easy for us to be buying Bitcoin and hodling.

Another strategy you can use in hodling your Bitcoin perfectly is when you buy through DCA, this way you won't be out of cash for reinvesting into your business or doing other things as the amount you'll be using to DCA monthly won't be much that'll make you go broke or run out of cash. As you keep building your portfolio, you get more motivated the keep on hodling. When you just started investing in Bitcoin, hodling becomes a little difficult but as you grow in the industry, it get easier.

Exactly right. By having income from other places, we can make money so we can meet our daily needs and can also invest in bitcoin. The important thing is that we can still hold the bitcoins we have until the time comes for us to sell them at a high price.
I remember a friend's story several years ago when bitcoin was still under $20k.
He seeks to own more than 5 BTC. At that time, he finally managed to own it and continued to work as hard as he could to make money.
And when bitcoin got its bull run and reached its highest price of $20k, my friend sold his 3 BTC and got more or less $50k-$55k and that was a huge amount of money for him.
And from that money, he took $30k-$35k to prepare for his daily needs and his future while he used the rest of the money to invest in bitcoin and altcoins again. And he repeated that story at a time when bitcoin was hitting a high of $60k.

There are multiple ways of doing that, but the risk now doubles, because both businesses will suck the generated BTC leaving me with almost little or no BTC. I've tried it myself, as it's the only way out, which I can think about. Hence, I'd need to get pass 3 stages, first would be setting up the fiat business with BTC. Second, working until the fiat focused business never needs btc to run smoothly. Third, the fiat business gets enough money to invest back into the bitcoin business. All these stages can be achieved with few extra hands, then extra years. I could remember building a fiat business in the social media niche, which was growing. But, due to the too much complaints of customers about the rendered services not being good enough. I had to kill the business. And since then I've never built any fiat business with the kind of potential that the above mentioned business had. So, it leaves me with no doubts about the possibility of doing same thing again. Maybe in a different angle. At least as the producer of the product. One thing that made me stop building the fiat business in the past, is that I wasn't the producer, It was a reselling business. I had no power to change or make efforts to provide the quality my customers complained about or wanted. It left me with no option than to quit it.