Is it easier to HODL if you are already rich? - page 2.

Distinctin

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Quote from: Issa56 on August 06, 2021, 01:41:18 PM

Seriously I believe it is easier to hold bitcoin or any cryptocurrency if you are already rich because you won't really think about anything your mind won't really be in the coin you invested on or whenever you need money you won't really think of selling it because you are having extral money that you can easily use to solve your problem but if you are not rich any small thing you will endup selling your coin immediately.

To be honest rich investors has always a great advantage because they can put a bigger capital compared to those poor investors. And when the market seems to fall, they worry less because they still have big amount of money in their savings account ready to back up when things don't come out the way they expect.

Unfortunately, poor investors don't have this privilege and when the market is not performing well, they become panic and resort into selling their coins with a low price. Hodling has always an advantage to rich people and its always been the reality in all aspects of investments.

Pokapoka124

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Quote from: Issa56 on August 06, 2021, 01:41:18 PM

but if you are not rich any small thing you will endup selling your coin immediately.

The rich also have problems. Here is where discipline plays s role. Holding is difficult, bitcoin prices go up and down the hill regardless of your class in society rich or poor. Your holding capacity is dependent on how disciplined you are. People generally develop cold feet in a bearish market

Issa56

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Seriously I believe it is easier to hold bitcoin or any cryptocurrency if you are already rich because you won't really think about anything your mind won't really be in the coin you invested on or whenever you need money you won't really think of selling it because you are having extral money that you can easily use to solve your problem but if you are not rich any small thing you will endup selling your coin immediately.

Assface16678

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Yes it is easier to hodl, you don't have to worry about selling early because you have extra money to use when it comes to daily needs like food or stuffs. Plus you can probably make more profit since you have a lot of money that you can easily put into the market. Although, being rich doesn't mean you automatically have those things because some rich people are impatient people and they might experience loss in the market with that attitude because some of them were born with a golden spoon in their mouths.

alpamar99

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Quote from: ReiMomo on August 06, 2021, 11:56:15 AM

I would say, those who are even not rich and have no commitments, would certainly have less stress and can invest in bitcoin and hold them peacefully without much stress. I have personally experienced it. When I had a commitment and was expecting a turn over from trading, really I had to either sell them off at low profit or at loss. But when i did not have commitment, I peacefully held the orders and sold when only the trend was up.

commitment is very important here but don't forget that the needs of rich people and poor people are different and most poor people will be very worried when they do hodling differently from rich people, because if you look at it from an economic point of view they are very different and commitment will ultimately lose. by necessity and inevitably and sooner or later will surely sell the coins they hold in order to continue their life

erep

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Quote from: Kusman on August 06, 2021, 09:40:28 AM

If you are a rich person, then you don't need to worry about your long term investments. Because you are already rich and you wouldn't be very unhappy if you even lose some amount of money you have. I'm saying this assuming that you don't invest most of your savings. If you do such thing, then there is no difference between being rich and being poor.

Rich people have sufficient funds for everything including for the portion of investment in crypto, each investment fund tends to be long term because these funds are related to daily necessities funds. Not all rich people have good thoughts in investing because some of them are still afraid of market corrections.

EdenHazard

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Quote from: ReiMomo on August 06, 2021, 11:56:15 AM

I would say, those who are even not rich and have no commitments, would certainly have less stress and can invest in bitcoin and hold them peacefully without much stress. I have personally experienced it. When I had a commitment and was expecting a turn over from trading, really I had to either sell them off at low profit or at loss. But when i did not have commitment, I peacefully held the orders and sold when only the trend was up.

investing money that used in your daily needs would make you hard to hold it in the long term, avoid this and you'll be a real hodl-er to feel 1000x return.
otherwise, you'll stick in your chart to check where is your position and before even its reaching 10x , you'll just withdraw it on 2x or 5x at tops!

even if a rich guy with 100m in wealth and invested 90% of his wealth wont resist to see his investment gained 5% to cash them out, there's no real hodl-er unless if you are in strong believe or what so called commitment as you said.

ReiMomo

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I would say, those who are even not rich and have no commitments, would certainly have less stress and can invest in bitcoin and hold them peacefully without much stress. I have personally experienced it. When I had a commitment and was expecting a turn over from trading, really I had to either sell them off at low profit or at loss. But when i did not have commitment, I peacefully held the orders and sold when only the trend was up.

albon

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What is the need to sell your coins if you are already rich, you definitely want to hodl your coins until you reach your goal, holding coins for a rich or poor person is a good decision because the faster you sell, the more wonderful opportunities you lose. All we need to do is to buy more quantities of coins and then follow the technical analyzes of them every day.

Kusman

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If you are a rich person, then you don't need to worry about your long term investments. Because you are already rich and you wouldn't be very unhappy if you even lose some amount of money you have. I'm saying this assuming that you don't invest most of your savings. If you do such thing, then there is no difference between being rich and being poor.

johnyj

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Quote from: paxmao on July 26, 2021, 04:00:07 PM

One of those successful cases of bitcoin hodling was a friend of a friend. They (a couple) took an important risk by investing 60k of a dismissal compensation into bitcoin and making a x100 on it before selling half. I do not know what they did with the rest. Now, these people were not rich, they took an enormous risk compared to their total wealth. They had to really believe on the project and pass though some of bitcoins usual "tests of faith".

For someone with let´s say, a net worth of 1M USD or more plus house, hodling 60k until they became 6M would have been not that much of an stress. Do you think it was easier to benefit economically from bitcoin if you were already a bit up in the ladder?

Being rich generally helps: The investment capital can be large while still remains a small part of their total net worth, so they can achieve big return without worrying about the risk being too high

But after a bull run, their crypto holding has increased 50-100x in value and become the majority of their net worth, they will face the same risk as any other poor people. In such case, only the one with knowledge and belief would still hold on to crypto and enjoy a much larger return in the next bull run.

Koro-Sensei

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Quote from: paxmao on July 26, 2021, 04:00:07 PM

One of those successful cases of bitcoin hodling was a friend of a friend. They (a couple) took an important risk by investing 60k of a dismissal compensation into bitcoin and making a x100 on it before selling half. I do not know what they did with the rest. Now, these people were not rich, they took an enormous risk compared to their total wealth. They had to really believe on the project and pass though some of bitcoins usual "tests of faith".

For someone with let´s say, a net worth of 1M USD or more plus house, hodling 60k until they became 6M would have been not that much of an stress. Do you think it was easier to benefit economically from bitcoin if you were already a bit up in the ladder?

Yeah. Not relying only with your investment for your daily needs is really a big deal. If you are poor you can't have that freedom of investing your money without taking a toll on your day to day life. However, the first thing in crypto is that you should invest what you could always afford to lose. This is probably the best advice for anyone who's into crypto now and even Cz told us that

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If you cant hold, you won't be rich

JohnBitCo

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Quote from: paxmao on July 26, 2021, 04:00:07 PM

One of those successful cases of bitcoin hodling was a friend of a friend. They (a couple) took an important risk by investing 60k of a dismissal compensation into bitcoin and making a x100 on it before selling half. I do not know what they did with the rest. Now, these people were not rich, they took an enormous risk compared to their total wealth. They had to really believe on the project and pass though some of bitcoins usual "tests of faith".

For someone with let´s say, a net worth of 1M USD or more plus house, hodling 60k until they became 6M would have been not that much of an stress. Do you think it was easier to benefit economically from bitcoin if you were already a bit up in the ladder?

The main problem is that people do not do money management when they are investing in crypto. Even a poor person can invest for long term provided his position is small according to his budget. I have seen rich people investing everything in crypto and then panic selling when they see thier port folio down.
Money management is a skill if implement correctly, your investments will be stress free.

Charot12345

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Quote from: romero121 on July 26, 2021, 06:45:17 PM

It is an easy thing for the rich to hold, because the investment is from the amount they've made excess meeting all the needs. They'll be having separate funds for emergency and other miscellaneous needs.

We have the same opinion regarding this. If you are already rich, you will not be tempted to touch that amount of crypto you were currently holding because you still have an extra to used.

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Is it easier to HODL if you are already rich?

Much easier? I guess, it is. Well if you are rich, HODL was easier because you won't be easily scared and impulsively sell when a cryptocurrency drops. Being rich already you can avoid the risk of buying high but selling low because you can have the patience to wait the right timing.
You can't be impatient on what you hold because it is posible that it was just your extra money or it was the amount that your are ready to lose.

Pokapoka124

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I don't think its fair to assume that it easier to hodl if you are already rich. The rich also have problems too (the degree may be different) same as every person on planet earth. A person's hodling power doesn't depend on what how much he owns in the bank. It's all about discipline and self control. I think the advantage the rich have over the poor and middle class is the opportunity to share the same class as whales and prominent investors

monineklutak

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Quote from: suryana on August 06, 2021, 02:21:59 AM

Quote from: breathlessz on August 06, 2021, 01:56:57 AM

it depends on one's mentality and knowledge. even though he is rich but if he does not have the knowledge, then he too can experience panic so it is difficult to hold it during a market dump. and if you don't have knowledge, the rich person can't hold it any longer while floating plus

Yes, it all depends on the individual. There are strong people who hold their coins because they already know the good and bad risks if they invest. And will not back down if what has been achieved has not been implemented. This is called the principle. Unlike investors who invest but do not have poor principles and self-control.

Talking about investors who do not have principles and self-control, I don't think such investors will be successful.
It's not easy to be an investor, especially if you don't have enough experience.
but if they learn and keep trying maybe it will pay off

suryana

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Quote from: breathlessz on August 06, 2021, 01:56:57 AM

it depends on one's mentality and knowledge. even though he is rich but if he does not have the knowledge, then he too can experience panic so it is difficult to hold it during a market dump. and if you don't have knowledge, the rich person can't hold it any longer while floating plus

Yes, it all depends on the individual. There are strong people who hold their coins because they already know the good and bad risks if they invest. And will not back down if what has been achieved has not been implemented. This is called the principle. Unlike investors who invest but do not have poor principles and self-control.

breathlessz

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it depends on one's mentality and knowledge. even though he is rich but if he does not have the knowledge, then he too can experience panic so it is difficult to hold it during a market dump. and if you don't have knowledge, the rich person can't hold it any longer while floating plus

Tahsin Kabir Kollol

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When you become richer, you will be able to take risks in gaining wealth for yourself. As you become richer, you will increase your risk-taking and acquire the ability to hold on to investments. Perhaps if you are rich and can analyze your market and know or anticipate the potential future of the invested assets, it will be easier for you to hold on to the investment. This is because the basic necessities of life and the overall future are hindered by small investments. This is because in this case, the wrong decision in the case of a market analysis or any kind of mistake in the selection of assets creates a big risk and the possibility of becoming destitute. As a result, low capital investors do not try to retain the invested assets considering all the risks. Emotional situations and emotions play a special role in this.

Ludmilla_rose1995

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Quote from: Joshapat on August 01, 2021, 09:28:38 AM

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Quote from: Ludmilla_rose1995 on August 01, 2021, 03:35:12 AM

I think yes. We can't hold on to a hungry stomach. At least we have to meet all the primary needs such as clothing, food, and shelter. In my opinion, the hodl strategy is for those who have stable finances. No one wants to force themselves to hodl their assets. Personally, I'd rather sell than not eat

If we still have residual income, I think it is still possible to hold it for a long time, but the problem is that sometimes there is an urgent need, and we don't have any other savings. but indeed people with more money, they will be easier to hold, because the money is really free, not money for the necessities of life.

Financial management is very important when we invest, I recommend to separating the types investments (short or long term). The most people don't care about financial management so when they need money they sell anything including crypto even though the market is red.

I agree that financial management is important. But if you separate long-term and short-term investments, I think it's the same, because every investment has risks. I separate the two incomes (profits). The first is an investment and the second is income from the work/business that I have. I don't want to combine the two. I use the income from my work for my daily life. So, even if the market turns red, I can still hold my assets

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