Is it easier to HODL if you are already rich? - page 5.

jossiel

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Quote from: Tumanggor on July 30, 2021, 01:50:30 PM

the most appropriate sentence in my opinion is "it's easier to hodl if you are good at managing finances"
10% of poor people who are in crypto have proven themselves that they can change lives by just hold their BTC

while others will immediately sell the BTC they get when bear market or bull
the ability to manage money is important because we don't know when the dry season (bear market) will come so leave your needed funds and your BTC stock for as long as you can

Great analogy and it's true that despite the situation of those holders before they get in, as long as they're good in handling their finances, they can live a better life.

But the subject is all about being easier in holding and that gives the advantage of being rich already. You can keep as much as you can while not having any problem when the market dips as you can still hold it and add more which makes you not forced to sell if you're in need.

Tumanggor

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1xBit.. recovered their reputation

the most appropriate sentence in my opinion is "it's easier to hodl if you are good at managing finances"
10% of poor people who are in crypto have proven themselves that they can change lives by just hold their BTC

while others will immediately sell the BTC they get when bear market or bull
the ability to manage money is important because we don't know when the dry season (bear market) will come so leave your needed funds and your BTC stock for as long as you can

goldade

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The Standard Protocol - Solving Inflation

Quote from: paxmao on July 26, 2021, 05:00:07 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, I believe being rich makes it easier to hodl bitcoin and it is not only with bitcoin and cryptocurrencies, it is with all form of investment.
As much as all forms of investment is risky, it is still way easier to invest and leave it for years simply because you do not need anytime soon or for day to day activities.
If you'd ask, someone who doesn't have any other means of survival would find it extremely difficult to invest because that would be simply be a ticket to death.
Investment is meant to be a part of many that has already been.

Mauser

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Quote from: Obito on July 29, 2021, 07:20:16 AM

I think it's easier to hodl when you're rich, I mean you have enough money to not spend your portfolio or sell it prematurely. Plus you also can get more profit out of your holdings since you can put a lot of money in the first place and just wait for it to go up unless you FOMOed in a shitcoin.

Yeah probably, once you reach a certain threshold in wealth you start to less worry about prices I assume. If you have a large portfolio and can diversify across many different type of assets, you will always see some green and some red positions in your portfolio. And as long as your overall portfolio is performing well you shouldn't worry too much. Instead of selling a under performing coin we can afford to just HODL.

AicecreaME

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I guess financial stability plays a great role in holding. Although certainly there are still other factors that contribute to successful holding an investment, we can't dismiss the fact that it's a great privilege to be financially stable and hold as much as you can, as long as you can. Having a safety net that can catch you once you fucked up is a privilege that not anyone has. If someone is financially stable, has all the means to get by on daily basis, and does not have the need to withdraw funds during urgent situations, then they can hold longer compared to those who are just relying on their investment's profit. They can wait longer without withdrawing their funds since they still have other funds dedicated to specific scenarios. Diversification is always a thing for the rich. Hence, they can hold without compromising their investment in crypto or in other investment platforms.

Investment in crypto is still risky despite its benefit that is why the users must know what they are getting themselves into first before diving into it. Buying the dip is a nice strategy to generate more valuable coins, patience, determination, and discipline are good traits to keep yourself from holding triumphantly.

jinneas

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It is easier for the rich to hold for a long time than the poor. If I become rich enough to meet the funds needed for my life, I will use the remaining funds to invest in cryptocurrencies and will not easily sell them even if there are market price fluctuations. The price of cryptocurrency is unstable and easily affected by market fluctuations. The rich will not panic too much because of sufficient funds, and they are more able to take risks. The high profits that the rich earn through long-term holding of cryptocurrency will make them richer and richer.

Obito

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Quote from: Gozie51 on July 29, 2021, 09:15:28 AM

Quote from: Obito on July 29, 2021, 07:20:16 AM

~snip

You will be surprised that rich people don't even hodl. They understand the essence of multiplication and they may be selling and buying, trading it because they still want more money and can increase their money gradually. The poor are those that will believe to hodl for eternity to hope for all profit because they are scared of the risk of trading. The rich takes risk and may not hodl for long, they operate on ROI .

I wouldn't be surprised, plus I know that there will be rich people that won't hodl, it's just so happens that the rich people that I know are hodling instead of making money out of it through trading plus it's risky for them to do trading because they don't exactly have the skill set unless they did some research or they have extensive knowledge on the subject.

EvieLannister

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It can only be said that the rich are more able to hold on to the holdings than the poor, because if something unexpected happens. It is easy for the poor to sell their coins for money, while the rich do not need to sell tokens to exchange for funds, which is a good way to keep holding.
So it’s easy for the rich to keep holding to reach the goal they want to achieve, and it’s okay if they fail to invest, because the rich generally have an adventurous spirit and a strong mentality. If they are the poor, when the coin falls to a certain price, they Will be afraid, will sell the coins in his hand to stop loss. Because they cannot take risks with their own money, they have to maintain their daily lives.

Zilon

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Bitcoindata.science

Quote from: paxmao on July 26, 2021, 05:00:07 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?

For someone with this networth hodling can't be a challenge because he/she is already having other source of income. Hodling is only difficult for an average investor who has little or no other alternative source of income. This is why the rich with good thinking only gets Richer, for an average investor to hodl for too long requires decipline and patience and most of the times challanges might tempt them into withdrawing

pinggoki

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It is much more bearable to hodl when you are affluent and can afford the temporary losses that you would incur with the cryptocurrency you bought. But I believe it is much easier to invest and hodl if you know the ins and outs of long-term investments really. Because if you would just pick a dime-a-dozen token out of the market and invest in it without further investigating, you would subject yourself to a possible loss. It's important that besides the funding needed to invest, you have the proper knowledge and guidance so you don't fall astray and break your pockets.

Quote from: Obito on July 29, 2021, 07:20:16 AM

I think it's easier to hodl when you're rich, I mean you have enough money to not spend your portfolio or sell it prematurely. Plus you also can get more profit out of your holdings since you can put a lot of money in the first place and just wait for it to go up unless you FOMOed in a shitcoin.

Definitely easier when you are affluent, all for the reasons you mentioned earlier, but money without taking well care of it will just end up in the dumpster, so apart from being rich, I figured it is also important that you know your stuff when it comes to hodling. Otherwise you'd just FOMO and prematurely cash-out everytime you invest your money to a coin.

Fredomago

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Leading Crypto Sports Betting & Casino Platform

Quote from: Dread Pirate Roberts on July 29, 2021, 05:45:00 PM

Quote from: paxmao on July 26, 2021, 05:00:07 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?

If you take such an example. That is very true . like investing in total assets that you can hold for long-term and holding without any thoughts of selling them again before taking huge profit. Everyone has a different economic level. Of course, those with large capital will be more profitable if calculated from the nominal. but in terms of percentage its the same.

As it won't hurt them even it takes more than a decade to hold, as long as they are trully believes that the market will pumped high to reach the target that they are aiming before cashing it out.

It simplified the argument which is very realistic in terms of comparing both small and rich investors.

that stats will enlighten the difference and what are the capabilities of those who have enough or better to say have lots of excess.

Dread Pirate Roberts

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Quote from: paxmao on July 26, 2021, 05:00:07 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?

If you take such an example. That is very true . like investing in total assets that you can hold for long-term and holding without any thoughts of selling them again before taking huge profit. Everyone has a different economic level. Of course, those with large capital will be more profitable if calculated from the nominal. but in terms of percentage its the same.

Gozie51

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Quote from: Obito on July 29, 2021, 07:20:16 AM

I think it's easier to hodl when you're rich, I mean you have enough money to not spend your portfolio or sell it prematurely. Plus you also can get more profit out of your holdings since you can put a lot of money in the first place and just wait for it to go up unless you FOMOed in a shitcoin.

You will be surprised that rich people don't even hodl. They understand the essence of multiplication and they may be selling and buying, trading it because they still want more money and can increase their money gradually. The poor are those that will believe to hodl for eternity to hope for all profit because they are scared of the risk of trading. The rich takes risk and may not hodl for long, they operate on ROI .

Obito

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I think it's easier to hodl when you're rich, I mean you have enough money to not spend your portfolio or sell it prematurely. Plus you also can get more profit out of your holdings since you can put a lot of money in the first place and just wait for it to go up unless you FOMOed in a shitcoin.

RondoAnyar

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$CYBERCASH METAVERSE

Quote from: paxmao on July 26, 2021, 05:00:07 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?

actually to be in crypto it is better to use free money because if there is a risk of loss it is not a problem. I think the holder will be safer if there is excess money and is not affected by any price shocks

Kong Hey Pakboy

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Quote from: horrifiedx1 on July 27, 2021, 10:04:11 AM

Quote from: Kong Hey Pakboy on July 27, 2021, 08:09:43 AM

~~~

especially for rich people $1k money is like nothing compared to poor people, of course that amount of money means a lot to them. therefore rich people will certainly have greater speculation. on the other hand with all the needs that have been met, then they will be easier to hold in the long term

Exactly what I was saying, what we saw as treasure and grand in terms of money is just a chump change for these people. Well, even if they have the advantage, it's not like people of medium income and low income won't be able to hodl, they can but the only problem is that their portfolio is significantly smaller than a rich person.

Pejoh Asu

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Quote from: ?? on ??

If I were already rich, I would have a hard time being able to HODL, since I would be focusing on buying real estate properties and taking out my family on vacations around the world.

If we are already rich then holding becomes the easiest thing, we don't need to check daily prices (not panic when the price fall), just enjoy the holidays and it doesn't feel like we have held for a year and get big profits with bitcoin.

Henrobakkara

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Quote from: molsewid on July 29, 2021, 06:15:11 AM

Quote from: Ucy on July 28, 2021, 11:38:44 AM

It has nothing to do with being rich or poor. The rich could aswell be taking big risk if all his/her money is invested in Bitcoin at once. I think what is important is to invest part of your money or what you can afford to risk/lose, whether you're rich or not. Don't put all your eggs in one basket in an uncertainty world.

Being a rich or poor investors both will take a risk but I guess the different between the estate of being rich and poor investor to a state of HODLING is that the rich could afford to HODL for a long term and will not be afraid to take it in in a long term because they have still a source of income while being a poor investor a long term HODLING means everything to them. I mean being an investor with a limited amount of money will be a total risk and that is why is a common advise to everyone to invest only what you can afford to lose.

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.

molsewid

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Quote from: Ucy on July 28, 2021, 11:38:44 AM

It has nothing to do with being rich or poor. The rich could aswell be taking big risk if all his/her money is invested in Bitcoin at once. I think what is important is to invest part of your money or what you can afford to risk/lose, whether you're rich or not. Don't put all your eggs in one basket in an uncertainty world.

Being a rich or poor investors both will take a risk but I guess the different between the estate of being rich and poor investor to a state of HODLING is that the rich could afford to HODL for a long term and will not be afraid to take it in in a long term because they have still a source of income while being a poor investor a long term HODLING means everything to them. I mean being an investor with a limited amount of money will be a total risk and that is why is a common advise to everyone to invest only what you can afford to lose.

XUNing

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If you have become very rich, you will not care too much about whether you should sell when the price of cryptocurrency falls. You will be more willing to bear the risks of investment and it is easier to choose long-term holding.
Ordinary people pay more attention to price fluctuations when investing. When prices fall, they will be afraid of the market and choose to sell. Or when they use most of the funds to invest, and they happen to encounter an emergency, whether it is profit or loss they must sell.

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