Topic: How to hold Bitcoin for long term without being tempted to sell. - page 2. (Read 455 times)
January 30, 2025, 06:39:10 PM
Let me just brief you op about long-term investment and short-term investment the both is being determined bio personal decision because it is decision we make during our investment that with the mind if we are going to run a long time investment or not but some people does not have the decision already before them venture into investment that is why I've been bias whenever they says that their investment is going negatively and they will be tempted to sell, but when you gather yourself and decide not to sell you will not sell, that's I said long-term investment is done by mindset or determination.
January 30, 2025, 05:54:28 PM
Setting a clear time horizon works well for me. I've decided to hold my bitcoin for at least 10 years and I keep reminding myself to stick to the plan no matter what happens in the short term
Everyone have there own way of holding bitcoin and that is why I won't even suggest any thing for anyone because what some people need is just to get a job and then spend there salaries to be able to keep up with there daily needs because that is like the most important thing, and you having the mindset to hold for 10 year is a good thing but how you are able to accomplish that's matters a lot, and am not even a fan of of short time investment.
And all this this will depend on your finiacial approach towards the plan, and the future of your investment lies in your plans and some people might have a plan but accomplishing, is one of the most thing difficult thing to do because with all this financial crisis make's investment decisions very difficult to accomplish your, and finding a way to make it happen is not a bad idea.
January 30, 2025, 01:15:35 PM
It's not that holding is easy or difficult; the answer to all of that boils down to the economic capacity of each individual. A person who has enough money to invest in Bitcoin and continue their life without needing to resort to those investments will be able to hold without problems.
This is because these individuals generally receive money from other investments unrelated to Bitcoin, which makes it easier for them to hold without worries.
On the bolded part, I thought they don't resort or rely on their investments? Remember, you said earlier ' those ' , so meaning this includes other investments and not just Bitcoin. But if they also invest on others, then they will only give and take. Like for example they will use the profit of their other investment in BTC today and then next time they will now sell their Bitcoin as it have matured already and then some these profits are now going on to their other investments. After all, it is not only about having enough money but it is also about having a long patience and I think this is something that can't be matched by any amounts of money. This is because these individuals generally receive money from other investments unrelated to Bitcoin, which makes it easier for them to hold without worries.
January 28, 2025, 06:37:09 AM
Setting a clear time horizon works well for me. I've decided to hold my bitcoin for at least 10 years and I keep reminding myself to stick to the plan no matter what happens in the short term
January 27, 2025, 10:50:04 PM
I will never probably use any time-locking solutions that will lock my funds for a specified period of time. I'll do the time locking alone and will just set it in my mind. We will never know what might come in the future and you've got some additional funds to pull and when you have no choice, you'll never be able to use the holdings that you have. The best solution to not spend the Bitcoin holdings that we have is to have another source of income and whatever is left in BTC, think of it as forgotten forever and you'll only have to spend them if you want to in the future.
Yeah, I think time lock feature is for advanced person.I agree anyone can use time lock feature, but most likely people who dare doing that are already advanced and familiar with Bitcoin, they've experience to hold Bitcoin for long time. If I were newcomer or beginner who heard this kind feature, I'm sure I will avoid it.
It's crazy you need to wait for x period time in order to access the coins.
Just like time deposit in the banks but I would not do it and will only think of some goals on how long I should keep it untouched. January 27, 2025, 04:06:18 PM
The easiest way to succeed is discipline. If you’ve created a plan for long-term holding, you need to stick to it with discipline. There’s always an opportunity to hold, as the market still has room to grow, which should motivate us to hold even longer.
One of the main reasons people fail to stick to their targets is greed or panic. They either get greedy and sell too soon or panic when the market turns bearish. I’ve seen this happen so many times before, people get excited and invest during a bull market (like now) because of FOMO. But when a bear market hits, they lose hope and sell at a loss. Which is why it’s easier to invest when you don’t put the majority of your money into Bitcoin as the more you can afford to lose, the better your chances of holding for the long term.
One of the main reasons people fail to stick to their targets is greed or panic. They either get greedy and sell too soon or panic when the market turns bearish. I’ve seen this happen so many times before, people get excited and invest during a bull market (like now) because of FOMO. But when a bear market hits, they lose hope and sell at a loss. Which is why it’s easier to invest when you don’t put the majority of your money into Bitcoin as the more you can afford to lose, the better your chances of holding for the long term.
Actually I think this only happens to those who are newly investing in bitcoin because those investors who has been in that system for decade will never pay attention to the dip or the increase in the price until it gets to their target. of course setting an emergency fund is very important during this process because is only when you don't have any other alternative apart from your bitcoin investment that you can be tempted to sell.
One other thing that can make one feel tempted to sell his/her bitcoin is when you keep checking your portfolio from time to time maybe when you discover a serous dip in the price, those who doesn't know about the market fluctuation will find it very difficult to withstand the pressure at this point they can be tempted to sell their bitcoin.
January 27, 2025, 03:32:14 PM
Everyone can get tempted to sell and lost his bitcoin, that's how our emotions can sometimes be manipulative. But if you really want to hold longer and control your emotions, you have to only invest on what you can afford to lose.
Don't invest all of your savings, but buy bitcoin using your spare money. That way, no matter how volatility hits bitcoin price, you won't go for panic selling, but stick to long term hodling. Not only because you don't want to lose, but you know there's always bigger opportunity to make profits when bitcoin price is at its peak price.
Don't invest all of your savings, but buy bitcoin using your spare money. That way, no matter how volatility hits bitcoin price, you won't go for panic selling, but stick to long term hodling. Not only because you don't want to lose, but you know there's always bigger opportunity to make profits when bitcoin price is at its peak price.
January 27, 2025, 03:31:39 PM
Temptations are actually hard to resist especially if it comes with massive returns. But if you stick to your goal and as much as possible control your emotions, selling your bitcoin will definitely be avoided. Have the right mindset and trust your strategy, and above all be patient, don’t be deceived with short term temptations as they can lead you to lose and regrets in the end.
Not really. It all comes down to your wealth, what standard of living you're used to.
For instance, when you already own a house, a couple cars, have enough money to travel, some passive income, you don't feel tempted to sell. What's it going to get you? another house, or another car? You can get that anyway by selling the ones you own.
In my case, I don't feel tempted at all because I have that financial safety guaranteed. People who have no savings, still try to get that dream house, or save up for something that will allow them to show off, are the people who think of taking profit.
The smaller % of your wealth your bitcoin investment is , the less tempted you are.
January 27, 2025, 02:14:31 PM
It's good that you buy bitcoin with your extra cash after taking care of your basic needs and monthly expenses. Most newbies fail to understand this, and they use money for important purposes to buy bitcoin thinking to make profit in a short-term before the need of the money invested arises. You need to have a good financial management practice to be a long-term hodler, don't get carried away with little profit.
However, holding our bitcoin for long term investment without being tempted to sell, actually I think it will be very difficult for some people but the easiest way to go about it is when you set an emergency fund or other business that can profit you on a daily basis. because is only when we have financial problem or any other challenges that we can only be tempted to sell our asset, this is why as a bitcoin investor is always advisable to set an emergency fund should incase of anything you can decide to use the money in your emergency fund to settle everything, with this I think you will not be tempted to sell your bitcoin.
January 27, 2025, 01:34:36 PM
I use to advise in this manner, don't do more than yourself, if you're making an investment, then go for the strategy of holding as according to your affordability, this will give you the peace of mind over the holdings in your portfolio, you won't even mind taking hasty decision for selling even if the market dips, because you already know that you're having enough time to make up with the market when it pumps during the bullrun.
January 27, 2025, 10:28:15 AM
I will never probably use any time-locking solutions that will lock my funds for a specified period of time. I'll do the time locking alone and will just set it in my mind. We will never know what might come in the future and you've got some additional funds to pull and when you have no choice, you'll never be able to use the holdings that you have. The best solution to not spend the Bitcoin holdings that we have is to have another source of income and whatever is left in BTC, think of it as forgotten forever and you'll only have to spend them if you want to in the future.
Yeah, I think time lock feature is for advanced person.I agree anyone can use time lock feature, but most likely people who dare doing that are already advanced and familiar with Bitcoin, they've experience to hold Bitcoin for long time. If I were newcomer or beginner who heard this kind feature, I'm sure I will avoid it.
It's crazy you need to wait for x period time in order to access the coins.
January 27, 2025, 10:15:34 AM
I think it's alright to have backup funds in Bitcoin, but perhaps wise to have them in a separate wallet from the one where you accumulate Bitcoin for long-term holding. Also, apart from setting clear time limits, it's good to have approximate price targets for spending Bitcoin. Maybe these targets won't be reached within the time limit, in which case it's probably okay to spend earlier (after all, our lives are finite and fragile). And maybe the price target will be reached earlier, so a person might consider selling or spending earlier.
Finally, I wouldn't use time-locking, as I trust myself and my self-assessment of needs and circumstances more than I trust the future.
Finally, I wouldn't use time-locking, as I trust myself and my self-assessment of needs and circumstances more than I trust the future.
January 27, 2025, 08:47:08 AM
Time lock would be the best option for those who couldn't control their emotion.
Investment plan would also be the key to avoid selling it, if you would only invest an amount that wouldn't affect your daily life then it wouldn't bother you much when the price increase.
Investment plan would also be the key to avoid selling it, if you would only invest an amount that wouldn't affect your daily life then it wouldn't bother you much when the price increase.
January 27, 2025, 08:30:08 AM
You need to have self control to hold Bitcoin for long term and you don't have to watch the market too often and only focus to accumulating more Bitcoin. You can invest and forget what you did before so you will not thinks much about the market movement. Besides that, you need to set some amount of money to invest in Bitcoin so you will not tempt to sell Bitcoin in a low price.
If you can stick to your rule accumulating more Bitcoin and can stay focus with your plan, you will not tempting to sell Bitcoin. You can hold Bitcoin for long term because your target is not comes.
If you can stick to your rule accumulating more Bitcoin and can stay focus with your plan, you will not tempting to sell Bitcoin. You can hold Bitcoin for long term because your target is not comes.
January 27, 2025, 08:05:29 AM
I find that focusing on bitcoin's long term potential helps me hold on through ups and downs. Whenever I'm tempted to sell, I remind myself of its future growth and why I invested in the first place
Once you understand BTC, you will never have a seed of doubt in your investment.
Bitcoin’s the truth, and it’s here to stay.
January 27, 2025, 07:39:27 AM
It's not that holding is easy or difficult; the answer to all of that boils down to the economic capacity of each individual. A person who has enough money to invest in Bitcoin and continue their life without needing to resort to those investments will be able to hold without problems.
This is because these individuals generally receive money from other investments unrelated to Bitcoin, which makes it easier for them to hold without worries.
This is because these individuals generally receive money from other investments unrelated to Bitcoin, which makes it easier for them to hold without worries.
January 27, 2025, 07:24:52 AM
The single best way to HODL BTC or any other crypto for that matter is to invest, save the stash in an ultra secure manner and to try and completely forget about it by avoiding news related to it etc.
Very few can master this technique, but the ones that do master it end up becoming rich overnight if their stash erupts in the upward direction. Just my 2 cents.
Very few can master this technique, but the ones that do master it end up becoming rich overnight if their stash erupts in the upward direction. Just my 2 cents.
January 27, 2025, 07:18:19 AM
I completely agree that having backup funds is essential. It gives me peace of mind knowing I can handle emergencies without needing to sell my btc. It's like a financial safety net that helps me stay committed to my long term goals
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January 27, 2025, 07:02:13 AM
From experience and in my opinion, two effective method that can help an investor hold unto their Bitcoin without spending it is, if the person invest just an amount that they can comfortably hold without their budget being affected, the second one is, if an investor have other consistent sources of income that they are relying on, they would not have need to sell their Bitcoin.
January 26, 2025, 05:53:41 PM
The most important aspect to holding Bitcoin for a long term is, you having a backup fund. The number one reason up there is the most popular because, people invest for profit making and to be able to solve most of their problems.
If you have incomes coming from other places and your where grounded with the benefits that comes with holding for a long term, you wouldn’t want to sell your coins and lose in on the profit. An extra stream of income is what works for me.
If you have incomes coming from other places and your where grounded with the benefits that comes with holding for a long term, you wouldn’t want to sell your coins and lose in on the profit. An extra stream of income is what works for me.
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