Topic: How do you work toward hodling bitcoin? - page 7. (Read 1365 times)

That's actually good thinking as you are thinking of your funds to earn more than just save it in the bank. The only thing is, savings could be used for emergency funds for emergency purposes so when you are in need of money, you could simply withdraw money. If you invested your money in a long-term aim or short, when you're gonna leave the market in a red market, seems like you'd just lost some money. If you are going to do this method, it would be better to split your funds into savings and some for investment. That's why it is really important to manage your funds, cause you can lose your money in an impulsive move. Assess your situation first cause not all scenarios are applicable to everyone.

I think you are misunderstanding the reply that you quoted. If I'm not mistaken, he's referring to physical business and not online businesses. If you are operating physical business, forcing your customers to make payment with bitcoin will actually have a negative impact on your business. Of course you can introduce it as one of your payment method but enforcing it on customer is not a proper way to expand your business. It'll be easy to do when you are running online businesses. Adopting the most popular payment methods in your area is a great way to make your products accessible to as many people as possible. If Bitcoin is not legal in your country, you need to carefully consider the risks and potential consequences of accepting it as a payment method.

Bitcoin and fiat goes hand in hand, so there is no way that one will set up a business that is strictly on bitcoin payment that some of those bitcoin will not be spend to grow the business and to take care of some monthly expenses. The only thing that I can say is that since the business accepts only bitcoin, you should make your weekly expenses and such amount should be converted to fiat and keep the rest or your profit in bitcoin because it will be impossible to use bitcoin without fiat to run the business.

It is better if you can also have another business on fiat if those bitcoins are very precious to you and you think that selling them is a big loss die to the value in it, but you should also not forget that when you are with only bitcoin, you can't sit down and watch your business run down because you don't want to sell. If you are so mean with your bitcoin, then you shouldn't start up a business when you don't have a means of getting fiat without selling your bitcoin but hodli your coins. If all you income is in bitcoin then there is nothing you can do about it than to convert some fraction to fiat because you must survive.

Would really be that totally depending on where you do live on which there would really be several factors on which it would really be that needing to consider before trying to aim for getting or earning Bitcoin or simply integrating this option on your business on which it isnt really that bad as long it is not prohibited or something allowed then it would really be no problem but if you are living on a country whose really that having that extreme negativity towards Bitcoin then dont expect that it would happen. We could really be able to save up Bitcoin for long term if we wanted to and for sure those Bitcoin OG's into those early years had sold out their coins have really that kind of regret or into those people who had been earning Bitcoin on selling something or in talks of service. It is really just that a matter of holding and trust towards it
because it cant really be denied that holding something which isnt known or heard off wont really be that a new thing.

People would really be just that easily be making out those regrets on the time that they've been seeing that the thing that they are trying to accept had already risen its price or value.
Regret do always come at the end and if you are really that serious on saving up Bitcoin then it would really be that just right that finding up ways or options
isnt really that something impossible if you wanted to.

In that case, you are in a dilemma as to what brings you more profit - investing the Bitcoin you earn or just holding? Let's take an example if you invested in Bitcoin about 1 year ago when the price was just above $15 000 and if you didn't do anything with that BTC from then until today, you would have more than 100% profit in a very short period of time.

The question arises whether you could have earned more in that period if you had invested the same BTC in your business? Of course, the price of Bitcoin is volatile, but it still somewhat follows a four-year cycle, and those who invested following that pattern were already able to profit very nicely, and if they are patient, they could profit much more.

If we were to go back even further into the past, those who invested in BTC before the great bull run of 2017, and sold during the next bull run, certainly earned as much money as they would not have earned in their entire lives, unless they were among those rare people who they have revolutionary ideas and know how to monetize them.

In as much as he thinks his business can earn him more than investing in Bitcoin. He also feels that whatever he gets from his business as a profit, instead of saving fiat in the bank, where inflation can affect is so much and the value will reduce over time. He prefers to store the value by investing in Bitcoin.

Many people do this and i am not exempted, since i have no use of my fiat and have enough for emergency and to sort my bills, the next thing is to keep putting my money in Bitcoin. However, am not saying if there are other investment i would venture into it, i can do both the investment and still invest in Bitcoin.

But, how can you ever invest in BTC if you don't have them? Before we invest, we should only make sure that we have sufficient money outside, that can sustain our needs, so that we won't touch our assets and be more successful on it. It's not necessary to have other sources of income but if you have them already, then that was great as that can allow you to invest more and be more confident.

Planning or setting a goal must also be there, so that we won't be confused if we should continue hodling or sell now. The only way we can regret selling our coins, is if we sell them at a loss. Unless if you also do that on purpose or to something that is more important.

First of all you have to know, does your country legalize bitcoin as an investment asset or not? Because most countries legalize bitcoin as an investment asset and do not allow bitcoin as a legal transaction tool, trying to combine bitcoin into your business may not necessarily be successful, especially since people there are still quite unfamiliar with bitcoin. Simply put, if you intend to hold bitcoin in the long term then you must have another budget to support your business and a steady income because trying to play investment patterns in the short term to generate profits is not easy.

People who have financial power do not make profits from one door and that is why their financial power gets stronger. If you only expect profits from Bitcoin while you don't have other sources of income, it will be difficult for you to keep up. Someone who is at a stage like this will usually choose to hold bitcoin for the long term and they will look for other sources of income to support the business.

it's very difficult. I had to delete the Binance application when the price I bought kept going down, or the target had not been reached. if for the long term. This is not up to what percentage increase or how much profit we get, but the target is how many years we will hold the bitcoin. like in the next 5 years is the target, meaning in 5 years when the price is high we will sell it.

I don't know if you can do business accepting Bitcoin payments at the same time hodling those payments. That's effectively taking away capital from your business. I think the best thing to do is to make computations regularly and use a portion of your income to buy Bitcoin. If the Bitcoin payments aren't that much, then you can hodl them. But if they're significant enough that your business is forced to operate only with what's left because you don't want to spend those Bitcoin payments, you're actually hurting your business.

Losing patience and the difficulty for some people to be successful through Bitcoin are people who also lose their strategy or even don't have a strategy at all when investing in Bitcoin, because patience is also part of the strategy that every investor must have in addition to income and capital resources. So those who experience losses cannot be used as an example to become successful through Bitcoin except only as a lesson for every other investor that investing in Bitcoin also requires patience in order to achieve success.

There isn’t any parallel line or strategy to holding bitcoin. It’s a diverse approach that ends in the same goal which is having to hold until you eventually get desired profits from your holding.

It is worth noting that holding isn’t a very easy thing to do. Even as a merchant that offer Bitcoin for a payment media, you still have to put it out for sales on exchanges so you could buy some more products to sale.

It’s business money and as such, it’s got to be in the business almost at all times as, business has got to be running. While you try holding, ensure your not going the extra mile to not satisfy yourself or hurt the business.

This.

Everyone has to realize that we can't go back in time and think of all of the sats/bitcoins that we've spent for anything that we've got during that time, whether they're important or not.

We can always save for the upcoming years whether you aim for the bull run or just for another time for cashing out. Remember that Bitcoin should be meant to be used by us but it just evolved the use case of it which is common now as an asset.

That's hard to remove in your mind if that's what you're thinking and I understand where you're coming from since the ones that you've accumulated probably have gone through a lot. But if you make a decision of selling your BTC and reinvesting it to your business, I think that's fine and that's still one use of Bitcoin.

Just don't the whole thing of selling all of it, just take portions of it but if you're not going to contemplate about it and decided then just get to the latter part and find some other ways of making money and get paid in fiat and that's the money you'll reinvest back to your business. That seems a plan for most IMO.

I'm not confortable reinvesting bitcoin into the business. That's the argument here, as it makes me feel like I'm wasting the sats generated by the business. Similar to the example tweet I posted above. That's why I'd need a second business which can earn fiat, which can be used to invest on ads for my other business, which generates bitcoin. Thereby saving me more bitcoin and on the long run improving my profits. Since, the value of bitcoin keeps increasing. Reinvesting into the bitcoin business with bitcoin like you suggested has both sides of possibilities. First, I don't know how long it'll take the business to stabilize and generate too many bitcoin, such that I'd never worry about the few bitcoin funneled into ads and payment of assistants. Second, it could fasten the journey and drive me speedily to my destination. And because running a business is risky, it's nice to have plan B strategies. That's why I'd welcome a second business idea. To achieve my goal, I've tried several businesses, but to no avail. I'd think, also, about your idea. It's great to push one business to the highest top. I wouldn't have been bothered about this if the fiat is the primary currency the business earns. I can decide to invest in bitcoin, If I wish. Since it yields bitcoin, and the bitcoin it generates goes back to the business leaving me with little bitcoin is my problem. Though, having a business that generates bitcoin is also a proper means of generating bitcoin. Yet it always feels better to have them stacked and saved.


No it doesn't stop them, if they don't intend on building or expanding their business. As with the speedy growth of bitcoin, to me, it's not proper to let it slide without holding on the opportunity, which we are sure that bitcoin brings to those who hold. That's why we read and write about it, hence trying different ways of getting this right is also important. I do not regret investing bitcoin to the growth of my online business; blowing it up on ads. It's always difficult to save much when investing or building a business, which you believe would yield you more bitcoin in future. And also fetch you profits through bitcoin.


Yeah, not everyone who've tried their own ideas can continue devising fresh ideas, without needing helps or contribution from other people. That's the reason I created this thread. I'm not thinking this for the first time because of the tweet I just posted, no. It has been my greatest challenge and the reason I'm losing bitcoin regularly. And, won't stop until, I'd be able to achieve holding all earned bitcoin and spending all earned fiat. As a little drop of water can make much difference in filling a bucket.

I agree. Investing in bitcoin is absolutely not a gambling game as some people make this mistake. It's a pity, the goal of pursuing dreams and success with bitcoin is not an instant dish, so it is necessary to have a plan, strategy, stable income source first, or diversify income sources to maximize capital resources. A successful strategy must be arranged and organized over a long period of time and throughout. Some people who lose patience find it difficult to pursue success in bitcoin.

Most of us especially this who has been aware and indulged into crypto through some or the other mean would have spent Bitcoin on silly things especially those who are sing it atleast since 2014, to talk about my experience I had purchased a desktop computer in 2016 through the saving I had with Bitcoin which I had actually earned by hodling it after being a part of signature campaign and I never thought Bitcoin would grow like this because back then bitcoin was more widely viewed as peer to peer payment transfer without involvement of third party and I think it was after 2015 Bitcoin gradually started increasing and 2017 changed it forever. Since I regret the moment I used Bitcoin to buy desktop I started invested into other crypto like XRP, Litecoin and ETH back then assuming they would reach same level as Bitcoin but bear market proved me wrong and now I just try to accumulate Bitcoins during bearish season and wait for bull run to cash out.

If your business can make more money than invest in Bitcoin, why forcing yourself to invest in Bitcoin?

As long as you still have an idea or making your business bigger, there's nothing wrong to re-invest into your business. Invest is when you have idle money, but you don't know or have any time to generate more money.

The possibility is that he needs FIAT urgently to keep the cash flow running smoothly. It's a common occurrence in business, and the challenge arises when holding onto Bitcoin, which may not necessarily guarantee a real profit... it's a significant speculation that still carries risks. When Bitcoin was worth $1, I'm pretty sure many people didn't think about a bullish market for BTC. Some might foresee the future, but it doesn't work universally.

Selling BTC to reinvest relates to the cash flow of the company.... because they can't hold onto profits in a coin that doesn't provide confidence for too long, even though it's quite convincing now. However, in the early days of Bitcoin, everything felt improbable.

It is only possible in some countries to make sure that all the income you earn come in btc because of the different perceptions people have of bitcoins. In some countries, bitcoins can easily be used to pay for your product and service because the people in these countries consider bitcoins also a means for transactions, not in countries where due to the difficult economy and inflation, people are making investments in bitcoins as a hedge against inflation, it will be difficult for these people to pay you with their bitcoins.

In trying to have bitcoins, you do not always have to follow the plans of another person, formulate your plans and strategy to make sure that you have bitcoins

For some people, Bitcoin is simply more of a currency than a means of long-term investment, and it should not be surprising that some people mostly spend everything they somehow earn in Bitcoin, especially if we take the example of signature campaigns in which a large number of forum members actually have an additional source of income which help them to improve their standard of living.

If you have a job where your only source of income is Bitcoin, then you have to spend it to pay living expenses and there is no possibility of holding. Any other option where Bitcoin is just an additional income in addition to the already existing secure income opens up possibilities for long-term investment.

I personally don't feel sorry for any of the sats I've spent over the years, no matter what the price was then compared to today. It is simply wrong thinking that leads nowhere. Even if someone has an income exclusively in BTC and that is his only income, does that prevent him from saving at least 5-10% of that BTC every month?