The reason I HODL and not play the markets is because even if you time your sells at the peak and buy back at the bottom, you generally only make about 10% profit. When you add in the risk that you are selling before a bull run plus trading fees, it's not really worth it in my opinion. Of course there are some that make profits.
But in my case, I make BTC from ad revenue and referral commissions, so why play the markets when I get consistent income?
It's the same with most people, they make earn money other ways than trading and buy BTC as a long-term investment.
Topic: ITT: We laugh at idiot HODLers [OFFICIAL THREAD] - page 2. (Read 2376 times)
It's because they told themselves Bitcoin will continue to rally forever, mostly on what they've read on boards like these. That's the only reason they can stay content with themselves - and the same reason why they'll likely lose everything in the end. Holding is a two-sided sword: it protects people from panic selling, yet it also obstructs profit taking and cutting losses. It is absolutely no 'safe route' as you describe it: it's a route that requires one to shut his/her eyes and ears, and not act on any external stimuli that runs counter to ones own observation.
I do laugh at them a little, but feel sorry for them at the same time. It's mostly the people that have no idea what they're doing in my opinion that settle down to become a 'hodler', because it feels safe.
As I write this, there will be hordes of them thinking at this very moment: 'Yeah, but Bitcoin went back up after late 2013/2014, so it must happen again!'. There is no such guarantee, and if Bitcoin gets overtaken by new technology - something which appears to be already happening (given how much Bitcoin's market share dropped in a mere few months!), they will very likely end up holding the bag. Those people deserve to hear this perspective as well, so that they again start weighing their options and do the right thing.
What about holders who really are just diversifying their assets portfolios? Those who actually seriously understand the risk, but are just putting their eggs in several baskets? No need to feel sorry for them (or laugh at them).
I do feel a tinge of disdain for the Bill Gates and Richard Bransons who have so much money and don't really know or care about Bitcoin and are just "investing" in its future by buying several million worth. Probably chump change to them.
Those blokes are obviously more careful, and not putting all their eggs in one basket. There's indeed no need to feel sorry for them, but I wonder how many true Bitcoin holders have actually diversified - especially with regard to the smaller consumer-level holder that doesn't got much to spread.
They are apparantly seen as people that have taken 'profit', while profit can only be measured in fiat currency here. Without selling, they won't have profited at all. If you bought at 500, am still holding now, and the price goes down to sub 500's (let's just assume it for a moment) you will be at a virtual loss. Once it becomes clear the price does no longer recover above this level (for example when Bitcoin gets overtaken by some alternative), this virtual loss will become a real loss.
This is the fate that many hodlers are threatened with, and many will not sell until after they've lost most they put in - despite the possibility to make monster gains.
They will have willingly skipped the possibility to take profit, because they got the impression it was a safe strategy by reading whatever gets uttered here.
Here we laugh at idiot hodlers who are too dumb to sell the peaks and buy the dips and instead hodl like the stupid meme sheep they are.
So DUMB!!!
So DUMB!!!
A hodler doesn't lose any money as long as he doesn't sell!
haahahahhHAHAHAH SUCH STUPID COPING MECHANISM
YES, HOLD ON TO YOUR MAGIC INTERNET MONEY AS ITS VALUE DROPS BY THE SECOND
SUCH STUPIDITY, YOUR FAMILY WILL HATE YOU
So, what is it to laugh about? Regarding people who holds their bitcoin for long term or short term still get profits as well, I don't find any funny thing on them.
Since you are so confident about your trading skills, you should add some trading results about your daily profits. And give explanation or advice to sell or buy whatever coins you have. People will appreciate it than just talked without proof or helping each other.
What if I told you it's more about sticking to your principles than money for a lot of people here?
And that they don't care about tiny price swings, when their target price for selling is multiple times higher than it is now?
They'll be laughing at you, when you're panic buying your coins back.
And that they don't care about tiny price swings, when their target price for selling is multiple times higher than it is now?
They'll be laughing at you, when you're panic buying your coins back.
Here we laugh at idiot hodlers who are too dumb to sell the peaks and buy the dips and instead hodl like the stupid meme sheep they are.
So DUMB!!!
So DUMB!!!
What about too busy to trade the swings?
Other than the 'hodlers' mistake, I don't think they are idiots. They are just going the safe route. They hold their funds (in cryptocurrencies) as long-term investments for the future, and forgetting about the whole thing, instead of buying and selling which require guts, have risks, and emotions. At the very least, they won't panic about every drop in price.
It's because they told themselves Bitcoin will continue to rally forever, mostly on what they've read on boards like these. That's the only reason they can stay content with themselves - and the same reason why they'll likely lose everything in the end. Holding is a two-sided sword: it protects people from panic selling, yet it also obstructs profit taking and cutting losses. It is absolutely no 'safe route' as you describe it: it's a route that requires one to shut his/her eyes and ears, and not act on any external stimuli that runs counter to ones own observation.
I do laugh at them a little, but feel sorry for them at the same time. It's mostly the people that have no idea what they're doing in my opinion that settle down to become a 'hodler', because it feels safe.
As I write this, there will be hordes of them thinking at this very moment: 'Yeah, but Bitcoin went back up after late 2013/2014, so it must happen again!'. There is no such guarantee, and if Bitcoin gets overtaken by new technology - something which appears to be already happening (given how much Bitcoin's market share dropped in a mere few months!), they will very likely end up holding the bag. Those people deserve to hear this perspective as well, so that they again start weighing their options and do the right thing.
HODLing requires one to believe that an asset with continue to appreciate in future. There is always a chance of getting burned in the end but that is a chance we all have to take unless you are a trading guru. Trading is a game in which most people are destined to lose by design or else a few people cannot get rich.
Here we laugh at idiot hodlers who are too dumb to sell the peaks and buy the dips and instead hodl like the stupid meme sheep they are.
So DUMB!!!
So DUMB!!!
There is nothing dumb about being a hodler (meme). Its just a way of being on the safe side and also investing for the long term I would say. Trading is quite stressful and and risky thing to do so not everyone follows the same path. Besides I think a holder makes more profit than the average trader lmao. They are patient enough to sell at the right time and make a good profit. So why complain?
It's because they told themselves Bitcoin will continue to rally forever, mostly on what they've read on boards like these. That's the only reason they can stay content with themselves - and the same reason why they'll likely lose everything in the end. Holding is a two-sided sword: it protects people from panic selling, yet it also obstructs profit taking and cutting losses. It is absolutely no 'safe route' as you describe it: it's a route that requires one to shut his/her eyes and ears, and not act on any external stimuli that runs counter to ones own observation.
I do laugh at them a little, but feel sorry for them at the same time. It's mostly the people that have no idea what they're doing in my opinion that settle down to become a 'hodler', because it feels safe.
As I write this, there will be hordes of them thinking at this very moment: 'Yeah, but Bitcoin went back up after late 2013/2014, so it must happen again!'. There is no such guarantee, and if Bitcoin gets overtaken by new technology - something which appears to be already happening (given how much Bitcoin's market share dropped in a mere few months!), they will very likely end up holding the bag. Those people deserve to hear this perspective as well, so that they again start weighing their options and do the right thing.
What about holders who really are just diversifying their assets portfolios? Those who actually seriously understand the risk, but are just putting their eggs in several baskets? No need to feel sorry for them (or laugh at them).
I do feel a tinge of disdain for the Bill Gates and Richard Bransons who have so much money and don't really know or care about Bitcoin and are just "investing" in its future by buying several million worth. Probably chump change to them.
There is no such guarantee, and if Bitcoin gets overtaken by new technology - something which appears to be already happening (given how much Bitcoin's market share dropped in a mere few months!), they will very likely end up holding the bag.
So what is your suggestion? To sell all bitcoins we have? That sounds like advice from someone who want to buy some cheap bitcoins, nothing more. None: everyone should make their own decisions.
Your response is one of the things I've been worried about most in this board since 2013: the lack of (self-)criticism to challenge certain viewpoints, and the tendency to immediatly paint those that utter it as people spreading FUD, or that have some other interest that involves seeing Bitcoin die. It has enhanced the cult-like behavior here, as valid criticasters at some point get tired from talking against a brick wall.
Hodlers are nothing but a victim of the climate it creates.
What then would happen if all bitcoin owners sold at the peak? I guess it would create a huge dip. And next, what would happen if all previous btc owners bought at the huge dip? I guess another peak, and we all could sell again and buy again and sell again and buy, all of us all at the same time, perpetually.
How would that turn out?
Doesn't work that way. Long term investors create scarcity, which increases value over time, which results in small price increases over time. Then, when the price is high enough, traders should sell, which increases short term supply, price goes down, at which point traders should buy, short term supply down, price up - up and down and up and down forever. Very exciting indeed.
All the while, us laughable hodlers, buy a little more, month after month, year after year, secure in Satoshi's vision. Don't get me wrong, traders play a very important role, like teaching novice traders valuable lessons for instance.
there is only 8 billion difference between BTC and ETH. In crypto, 8 billion is nothing which means ETH can surpass btc in no time in terms of marketcap. now when did btc started as compare to when ETH started?
its up for you to decide still
its up for you to decide still
To raise the marketcap you just need a single piece of that token/coins and buy it. so yes it is nothing since marketcap is just a cheaters tool to confuse newbie investors. Anyway, I believe hodlers are those people who are confident enough to keep their coins and get a huge jump in value when they decided to let go. And I agree they are idiots to those who think they know the best
.
Different people have different appetite for risk. Some can take more than others. Selling on top also have risk. The price may not retract and you may have to buy back on a higher price. And if some feel safer just hodling does not make them idiots.
i know right?
who are these idiots who call themselves Hodlers. price never went up. just like i never made any profit. it is not like price went up from $180 to $2500+ in 2 years and it certainly is not like that is about 1300% profit in 2 years.
what a dumb move, it is as dumb as this picture.
lets all start day trading for 3% with a lot of stress and pressure. that's where the profit is.
who are these idiots who call themselves Hodlers. price never went up. just like i never made any profit. it is not like price went up from $180 to $2500+ in 2 years and it certainly is not like that is about 1300% profit in 2 years.
what a dumb move, it is as dumb as this picture.
lets all start day trading for 3% with a lot of stress and pressure. that's where the profit is.
and some holders have made such huge profits that it's too much of a pain in the ass to sell and rebuy because they'd be nailed by capital gains.
meanwhile the people who spend 22 hours a day timing markets and looking at pictures of lines are probably worse off.
meanwhile the people who spend 22 hours a day timing markets and looking at pictures of lines are probably worse off.
Looks like SOMEBODY gets it!
I don't think hodlers all agree that BTC will gain forever. I would assume most have some kind of (at least partial)exit strategy, for WHEN THE TIME IS RIGHT!
Isn't that just a larger stakes game than the one OP is suggesting that we "idiot hodlers" do?
you buy and sell to get profit.
Wrong. You buy and hold to get profit, unless you'd rather take your profit in fiat currency instead of Bitcoin.
Why take your profits in a lower yielding currency instead of compounding your earnings by reinvesting in Bitcoin?
I'm holding since 2013, i converted 90% of my fiat savings into Bitcoin.
My purchasing power has increased dramatically, this must be one of the best things is did in my life so far
My purchasing power has increased dramatically, this must be one of the best things is did in my life so far
HODLing is easy, fun and profitable.
Someone please laugh at my stupidity too! Been holding since $500-ish! Even bought a bunch at $300, and a little at $900, ugh.
God I'm such a moron! Any more holding and I'm gonna end up poor.
God I'm such a moron! Any more holding and I'm gonna end up poor.
Haha your coin is down by 1 cent you idiot, why didnt you sell
Here we laugh at idiot hodlers who are too dumb to sell the peaks and buy the dips and instead hodl like the stupid meme sheep they are.
So DUMB!!!
So DUMB!!!
I sold when the price of bitcoin was still not reaching $1,000 so I sold earlier and I'm a dumb and an idiot hodler since before. This is hurts especially when seeing the price of bitcoin recover. But profit is profit, that's painful when someone is trying to piss others move. Well this is crypto life, you buy and sell to get profit.
In all seriousness, if I had been trading and trying to sell high/buy low, use margin, ect., then I would have got burned on this last dip. Almost 3000, then drop to 2500. Then small consolidate, then sharp drop again all the way down to 2120. I probably would have gone all in at around 2400, so would have got burned bad.
And we really don't know. The price could have dropped to 2500, gone sideways, then shot up all the way to 8000 before crashing back to 2100.
If we only we knew the highs and lows...but we don't.
I play around with small amounts of altcoins over at Bittrex and Polo, I can usually make small gains over time. Eventually what happens is that one of those altcoins goes up by about 100% by which time I have sold most of that coin. Normally the coin would drop back to normal and I would buy about a lot more of them. But then we get the coin that goes up 100%, then 200%, then 500%, then 5000%....and I look at that and think "yea, I doubled my money, but.....I SHOULD HAVE JUST HODLED"
I am starting a new strategy though that I read on one of the other forums. I will start converting 10-20% of my holdings to fiat every time the underlying coin doubles. If it goes down a lot after that, I probably will buy some back, otherwise I will just enjoy the fiat.
And we really don't know. The price could have dropped to 2500, gone sideways, then shot up all the way to 8000 before crashing back to 2100.
If we only we knew the highs and lows...but we don't.
I play around with small amounts of altcoins over at Bittrex and Polo, I can usually make small gains over time. Eventually what happens is that one of those altcoins goes up by about 100% by which time I have sold most of that coin. Normally the coin would drop back to normal and I would buy about a lot more of them. But then we get the coin that goes up 100%, then 200%, then 500%, then 5000%....and I look at that and think "yea, I doubled my money, but.....I SHOULD HAVE JUST HODLED"
I am starting a new strategy though that I read on one of the other forums. I will start converting 10-20% of my holdings to fiat every time the underlying coin doubles. If it goes down a lot after that, I probably will buy some back, otherwise I will just enjoy the fiat.
Here we laugh at idiot hodlers who are too dumb to sell the peaks and buy the dips and instead hodl like the stupid meme sheep they are.
So DUMB!!!
So DUMB!!!
I was called an idiot for not selling at $30 also. I've found a way to be ok with the pain.
Oh such pain. My suffering was not as great as yours. I didn't get in until later.
Your US dollars increased 75-fold. My Canadian dollars only increased 45-fold.
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