Is it easier to HODL if you are already rich? - page 3.

Ludmilla_rose1995

full member

Activity: 1638

Merit: 167

Buzz App - Spin wheel, farm rewards

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

Quote from: fauzan Ichsan on August 01, 2021, 07:32:47 AM

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

inoes

sr. member

Activity: 1316

Merit: 254

United Crowd

it is certain, people who carry out activities in the crypto world use cold money (supposedly). but I don't deny that there are indeed those who are willing to do debt, or sell their property to buy Bitcoin/alt. as a form of business, then I really appreciate it but if in risk management it is dangerous. ok if after buying the price then rises then we can enjoy the profit. but if it's the other way around and we really need money, then our portfolio will fall apart

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

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

Do you think it was easier to benefit economically from bitcoin if you were already a bit up in the ladder?

Well, it makes sense because after all we are not pressured to hold. Whatever happened, even in a hard bear market, we are not worried about the declining market price of our hold asset since we still have lots of ammo left. Unlike average earners that those people need to take action immediately once the price goes up and down crazy as that will affect our whole financial source.

No stress, no pressure (or not that heavy) - just riding the wave relax and comfortable.

Joshapat

sr. member

Activity: 1526

Merit: 255

Quote from: fauzan Ichsan on August 01, 2021, 07:32:47 AM

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.

qwertyup23

hero member

Activity: 2268

Merit: 789

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

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?

This is relatively true since the financial condition of a person makes him at least comfortable with his investments.

Compared to people who live in the middle to lower class, people who are up in the ladder have the financial security and blanket in case their investments fail. People under the middle class struggle relatively with their finances and investments to the point that one failed investment can put them in financial jeopardy.

There is, however, an exception to this rule. People who live in the middle class may set aside a specific amount of money primarily for their investments to the point that assuming that it failed, it will not affect them totally.

fauzan Ichsan

full member

Activity: 1246

Merit: 102

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

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.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

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?

I like this question.

The answer is yes.

Let us pretend a 64 year girl has 1 btc in a wallet. Put it in when coins were 32k.

Lets say she mines and is clearing 3k a month....... sells 2k holds 1 k
Lets say she has a small pension 2k a month
Lets say her wife has a good pension 4k a month. Thats right she has a wife.
Lets say they have "safe" 401k and IRA worth 350K.
Lets say 0 debt
Lets say all gear mining is worth 100k
Lets say a fixed up home in a low crime area fully paid for is worth 425K

How easy is it for her to hodl that 1 btc until she turns 70?

really fucking easy.

And why is that?

ratio of at risk is 32k/37k
upside is 250k or more.

ratio of safe is over 800k in 2027

In 2027 BTC is way up close to the same or ways down so 10,000 vs 37,000 vs 250,000+

IRA + 401K = 375k with shit interest
Home = 500K

Yes inflation may eat at the 401k+IRA
And home price rise may not do well against inflation

but at risk ratio of 37.5/750 is 20 to 1 Very easy to hodl

Not is those lucky lesbians have 40 btc right now with the same "safe" money holding is harder

since at risk is 40 x 37.5= 1,500,000 to 750,000

I would argue it is the high risk to low risk and you age that determines your hodl ability.

glendall

legendary

Activity: 2156

Merit: 1018

Buzz App - Spin wheel, farm rewards

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?

I think it is true that holding is easy for rich people, because they have excess money and their intention is to save and if they get 100x profit it is one of their advantages to increase their wealth

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

Maybe a yes or maybe also a no because still as money is involved, there would be still people who would be concern on the state of their money spent into something whether you are poor, average or a rich man in the society. It is just that rich men are having high tolerance and can endure the market situation making them to hodl for s longer time compared to the other classes because they still have immense amount on their hand but once they are seeing that there is no progress at all, those rich people are still possible to pull out and make use of the funds on other things to make it even more profitable.

oHnK

hero member

Activity: 1414

Merit: 574

Quote from: herurist on July 31, 2021, 12:35:08 PM

of course the central bank and fiat are more supportive and while you are here you invest your money and call it saving? I think that's bullshit.

I dont think that fiat is better choice for saving. Saving and Investment in my view is the same concept. I dont separate them for different way, when we talk about risk that is depend on the person. High risk is just for profit side which is high return that means high risk. When I save my money on fiat, I dont get anything except the inflation but in the crypto market for especially in BTC , the graphic showed the good growth. I dont think what I wrote before just a bullshit, based on our own perspective.

lixer

hero member

Activity: 2688

Merit: 588

Quote from: Henrobakkara on July 29, 2021, 06:00:17 AM

I hear what you are saying but it is not more of a risk than of choice, patients, and convenience. Let's say a poor investor invested some money into Bitcoin (Choice) which is good but this investment was when Bitcoin was trading around $60k+ and now the price has dripped which we all know, but is it now easier for this poor investor to HODL? (Patients) yes he can, but the problem is, there could be a situation in our daily lives that will be easy for the rich investor to handle with other funds but not the poor investor (Convenience) so he might end up selling part of his investment. So, with everything being equal in the market, with no risk of losing money, the rich Investor is still in a good place because of access to extra funds.

In that case which happened to me few times, you do end up selling your crypto as the first thing, even before the money you have saved up in your savings account because it is harder to explain to people why you should keep your crypto.

However that is only because I am married and I have responsibilities against my wife and explaining why we should go into debt and I can pay it small by small in a period of time is a better idea than spending your crypto is not one of them. She wouldn't understand it, and she would think that I am crazy to think something like that, hell whenever we have money she wants me to invest that into banks saving account which gives nothing nearly enough at all. Which is why I honestly believe that if I was a single guy, I would be able to keep that crypto in there and instead just pay with my credit card instead.

nicecrypto

member

Activity: 1260

Merit: 21

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

I hear you man and I totally agree with you. I guess this thing is pretty simple and the majority have said it. It is easier for those that are richer to HODL their investment even if the market is dipping than the poor Investors because they have the means to go through the bad market and might not necessarily need to look at their investment for any reason but that is not the case with the poorer investors that will be looking at the market every now and then hoping for the market to never go down.

Ludmilla_rose1995

full member

Activity: 1638

Merit: 167

Buzz App - Spin wheel, farm rewards

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

acener

full member

Activity: 1274

Merit: 115

★Bitvest.io★ Play Plinko or Invest!

Of course it is easier to HODL when you have enough money to spend and you wouldn't have a problem or panic when the price crash.
That is why we still have some average joe even though they have been in crypto for so long.
Even if they are earning in crypto they couldn't hold it because of their expenses.

lenovop-70

full member

Activity: 1190

Merit: 108

If we were rich at least one of our mental burden while holding is decrease, this is will cause our market analytic more calm and effrective IMHO, and also if we have other income and real assets to guarantee our live tomorrow, it will be good.
Waiting our investment to grow need our passion and peace of mind in it, so regarding what OP asking, my answer is totally yes if our investment is in the range.

Quidat

hero member

Activity: 2688

Merit: 540

DGbet.fun - Crypto Sportsbook

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?

Yes it is since you do know that you do still have money to spent or able to recover out when the market would crash or go to the opposite side.Yes, this is one of the
advantage when you are rich where you could always have the money whether what would happen into your investment and if it turns out to be profitable then expect
that profits would be more even higher since the capital you had put in is much bigger compared into those average investors.
Its up on how you do play with the market though.

Wawa2013

sr. member

Activity: 1666

Merit: 268

Quote from: tippytoes on July 31, 2021, 05:35:12 PM

Quote from: Desmong on July 31, 2021, 05:20:59 PM

Quote from: AniviaBtc on July 30, 2021, 10:11:35 PM

I don't think so, because hodl depends on the knowledge, patience, and discipline of a person who are trusting the coin and the market movement.

You're probably thinking that it is easier for them because they have separate funds for their essentials and needs.

But investment doesn't work with that mindset, everyone who invest are at risk and they are also making strategies and predictions in the market.

Rich people has the money and risk free to hold trades even the market is uncertain because of there large funds and leveraging. Holding requires time and patience to hold in order to get good profits, not just holding small amount of funds that can be easily wiped off with high volatility. They can even trade with sophisticated tools that can help to gain more profits than holding.

And when it comes to holding long-term, I believe those rich people can very well hold off long as they have other means to survive. As compared to an investor who basically is relying on the possible profit of his holdings to survive. So for me, the factor of wealth is important also when it comes to long-term investment. They can wait without stressing themselves about small movements in the market. Whereas, if you have savings on your investments, you can easily panic if something goes wrong with the market.

Of course rich people have excess money, therefore they are easier to deal with volatile movements in the market. If the price goes down,
the rich will find it easier to hold the coins they have, because the rich still have savings for their other needs. So the possibility of rich people
selling the coins they have when the dump price is very small, in contrast to ordinary people who will panic when the market falls.
Even some rich people who believe in the future of cryptocurrencies, will buy more coins that they consider potential if the market is down.
This is what makes people rich if they are able to be patient will make them richer, because when the market recovers and goes higher it can
generate huge profits for them.

tippytoes

sr. member

Activity: 1988

Merit: 275

Quote from: Desmong on July 31, 2021, 05:20:59 PM

Quote from: AniviaBtc on July 30, 2021, 10:11:35 PM

I don't think so, because hodl depends on the knowledge, patience, and discipline of a person who are trusting the coin and the market movement.

You're probably thinking that it is easier for them because they have separate funds for their essentials and needs.

But investment doesn't work with that mindset, everyone who invest are at risk and they are also making strategies and predictions in the market.

Rich people has the money and risk free to hold trades even the market is uncertain because of there large funds and leveraging. Holding requires time and patience to hold in order to get good profits, not just holding small amount of funds that can be easily wiped off with high volatility. They can even trade with sophisticated tools that can help to gain more profits than holding.

And when it comes to holding long-term, I believe those rich people can very well hold off long as they have other means to survive. As compared to an investor who basically is relying on the possible profit of his holdings to survive. So for me, the factor of wealth is important also when it comes to long-term investment. They can wait without stressing themselves about small movements in the market. Whereas, if you have savings on your investments, you can easily panic if something goes wrong with the market.

Desmong

member

Activity: 812

Merit: 13

Crypto bookmaker and casino

Quote from: AniviaBtc on July 30, 2021, 10:11:35 PM

I don't think so, because hodl depends on the knowledge, patience, and discipline of a person who are trusting the coin and the market movement.

You're probably thinking that it is easier for them because they have separate funds for their essentials and needs.

But investment doesn't work with that mindset, everyone who invest are at risk and they are also making strategies and predictions in the market.

Rich people has the money and risk free to hold trades even the market is uncertain because of there large funds and leveraging. Holding requires time and patience to hold in order to get good profits, not just holding small amount of funds that can be easily wiped off with high volatility. They can even trade with sophisticated tools that can help to gain more profits than holding.

Viscore

hero member

Activity: 3178

Merit: 661

Live with peace and enjoy life!

Quote from: philipma1957 on July 31, 2021, 03:39:47 PM

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?

No I do not think that at all.

I know it is easier which is always true when you are far enough ahead in any game.

I think rich people have the advantage when it comes to hodling their coins. They don't easily feel stress and be disappointed whenever the price started to decline because they are already financially stable. Unlike those who needed money badly most of the time, they will always want to make more profits even if the market is not yet stable. So they become panic when the price tends to move in opposite ways. This is the reason why most of them resort into panic selling because they have fears that they will lose even more if they still hodl when they see the prices keeps on deteriorating.

Topic: Is it easier to HODL if you are already rich? - page 3. (Read 1168 times)