Most crypto millionaires forgot that they had crypto!

maldini

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Quote from: holden.commodore on March 17, 2018, 09:50:00 PM

This is my council to you, invest some amount which you can afford to loose completely and then just forget that you have crypto, don't care much about the current prices. Be a F* HODLER.
Most crypto millionaires were holders and they didn't even know that.
Don't try everyday to understand the market and neither try to take profit from every bounce - you'll probably give it back to the market another day.
I will leave some quotes from Jesse Livermore which I assume are great for this topic:

“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

“Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.

people's thoughts are different, most of the crypto millionaires have another business behind them investing it as crypto currency, they only capitalize the belief that prices will rise.
those who daily analyze the market, take advantage of every reflection on the graph and take advantage, they are a trader.
but the person you mean is the holder

r_u_m_s

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W12 – Blockchain protocol

The only way not to go to coinmarketcap and not worry about the course of your crypto currency is to fully load yourself with work so that you can not keep track of the crypto currency. It seems to me that I do all the real Holder.

Ankhesenamun

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Yes, indeed at the moment the crypto market is such that it is necessary to invest only those funds that you are not afraid to lose, it is not very stable and actually not predictable.

AlisaWhishie

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Quote from: teskostecenje on April 16, 2018, 05:52:54 PM

Cant really agree with that just look at how many shitcoins in this bussines disapeared or became worthless,so if you follow that way you might end up with bags filled of useles shitcoins.

Agreed. 3 years ago the correlation between scam and legit projects was different, so it is so much easier to get scammed now.

According to the OP's statement, indicated in the title ("Most crypto millionaires forgot that they had crypto"), where did you find this statistics?
I've read about some crypto millionaires who bought their first bitcoins only because it was the currency accepted by the Silk Road. So can I give you an advice like "Become a junkie and in 5 years you'll be rich"?

And why don't you mention that so many people have lost their private keys and will never get the access to their money? Just imagine: you live in a poverty, knowing that you could be rich now if only you haven't thrown away that piece of paper with your private key... I would die if I were them.

So the only council that could be given here: make sure your private keys are safe. Don't let them be compromised or just lost.
Keep them even if you think that you have only worthless shitcoins on your 42nd MEW. Don't get rid of this 42nd MEW.

icalical

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Fully Regulated Crypto Casino

This is exactly what I am doing now. I was doing daily trading with forex, stock and crypto. And after years doing that, I feel like I am done, one day I make huge profit, and the next day I lose them, all of my profit. Now, I just pick some good crypto and and let them rotten in my wallet, and will check it if I need to make payment with crypto. And it turns out it gain profit more than my daily trading.

DiabolicAnt

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That's really funny - actually it's true. And I always wonder - how many funds are actually lost in forgotten wallets...

kengeorge21

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it happens from most people way back 3-4 years ago and even some of them are posting their stories here since a great pump just happen recently, although for me i think it's just a sheer luck i guess there's no hurt on trying it right now because there's a high possibility of bitcoin having another ATH this year which is more likely above 20k usd and that makes alts have a rally as well.

reflector

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Quote from: boss1dg on April 16, 2018, 06:08:57 PM

holding is good during bear market , when everyone is selling you should not sell .
but during bull run we should set a target for exit .
and then buy back in dip .
always set a stop loss .

Present time we do not have the bull run or even big dip in the market. Instead of that bitcoin and altcoins being little much bump and stable and doing this again and again. If you want find the cryptos to rock more in the market.
Still we can say this is good time buy the any top listed altcoins mate. All you need to do is go to trading site and buy with the bitcoins or other options like fiat or paypal.

boss1dg

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holding is good during bear market , when everyone is selling you should not sell .
but during bull run we should set a target for exit .
and then buy back in dip .
always set a stop loss .

teskostecenje

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Cant really agree with that just look at how many shitcoins in this bussines disapeared or became worthless,so if you follow that way you might end up with bags filled of useles shitcoins.I use different aproach about 20% of my mined/bought coins are on cold storage and they will remain there untill i see it fit or they mooned,most of those are shitcoins or small cap coins that i have just in case that any of them turns out to be a legit project

Fatunad

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Quote from: disconnectme on April 16, 2018, 05:25:31 PM

This is very true if you invest in a sound project that end up making it big, what do you want to say of some projects in the space that have done ICOs and THEIR VALUE HAVE GONE ALMOST to zero, what are you going to say about projects like Mastercoin and many more like this, for a fact most projects will not come out of this recent dump thesame

For sure millionaire stories would turn out to be poor stories or either just break even.Not all coins do have the same path or do have the same chances on pumping out thats why i do consider that being millionaire is being mixed with some luck. For those who adopt on earlier years and tend to forget it and later on discover that their holdings did progress its price then they do deserve such thing. 50% chance on heading that way. Back in the years i would consider that there are lots of potential coins will make you millionaire if you did able to hold it up for 2 or more years.

disconnectme

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This is very true if you invest in a sound project that end up making it big, what do you want to say of some projects in the space that have done ICOs and THEIR VALUE HAVE GONE ALMOST to zero, what are you going to say about projects like Mastercoin and many more like this, for a fact most projects will not come out of this recent dump thesame

slyfox

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Activity: 350

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Quote from: Zanetti83 on April 08, 2018, 12:29:45 AM

Quote from: holden.commodore on March 17, 2018, 09:50:00 PM

This is my council to you, invest some amount which you can afford to loose completely and then just forget that you have crypto, don't care much about the current prices. Be a F* HODLER.
Most crypto millionaires were holders and they didn't even know that.
Don't try everyday to understand the market and neither try to take profit from every bounce - you'll probably give it back to the market another day.
I will leave some quotes from Jesse Livermore which I assume are great for this topic:

“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

“Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.

Well, before you become a holder, I think it will be wise to at least analyze the market and find out the best crypto for them to hold.
I also not a day trader, I prefer long term investments, but I also can understand some people who prefer short term investments, they have needs to fulfill for the weekly or maybe even daily basis, so I didn't blame them as well.
Anyway, best of luck for you all crypto believers!

It is very easy to know which coin to hold in the market of cryptocurrencies, hold bitcoin is the only coin in which I have full confidence that is not going to disappear in a year or a decade or even a longer period of time, that doesn't mean that there are not good altcoins out there but if you decide to hold for long term in an altcoin then you need to study it very carefully.

iryboy

member

Activity: 210

Merit: 10

Quote from: holden.commodore on March 17, 2018, 09:50:00 PM

This is my council to you, invest some amount which you can afford to loose completely and then just forget that you have crypto, don't care much about the current prices. Be a F* HODLER.
Most crypto millionaires were holders and they didn't even know that.
Don't try everyday to understand the market and neither try to take profit from every bounce - you'll probably give it back to the market another day.
I will leave some quotes from Jesse Livermore which I assume are great for this topic:

“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

“Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.

Another excellent post holden.commodore Grin

, totally agree if you can afford to invest and forget then it is the best investment strategy you can have, no need to track your daily investment ups and downs.

Zanetti83

newbie

Activity: 126

Merit: 0

Quote from: holden.commodore on March 17, 2018, 09:50:00 PM

This is my council to you, invest some amount which you can afford to loose completely and then just forget that you have crypto, don't care much about the current prices. Be a F* HODLER.
Most crypto millionaires were holders and they didn't even know that.
Don't try everyday to understand the market and neither try to take profit from every bounce - you'll probably give it back to the market another day.
I will leave some quotes from Jesse Livermore which I assume are great for this topic:

“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

“Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.

Well, before you become a holder, I think it will be wise to at least analyze the market and find out the best crypto for them to hold.
I also not a day trader, I prefer long term investments, but I also can understand some people who prefer short term investments, they have needs to fulfill for the weekly or maybe even daily basis, so I didn't blame them as well.
Anyway, best of luck for you all crypto believers!

laurenB7742

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Vaccinized.. immunity level is full.

Quote from: starblocks on March 18, 2018, 04:44:07 AM

These are very wise words

Lots of investors lose money buying and selling at the wrong times during market volatility

Investing can be far more profitable in the long run if you choose the right assets and adopt this approach

That's correct. Majority of people struck in BTC and altcoins are the one who bought them during high volatility last year. Choosing the time is most critical part of your overall investment strategy and must not be overlooked. Last year market volatility gave us many lessons and I hope new investors have learned many things from that volatility.

seymenyunus16

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Merit: 0

It is very sad for them. I believe that when cryptocurrencies began to appear, many did not even imagine what their prospects would be. Many people bought them very cheaply. After a time, all have changed greatly. Many cryptocurrencies have become very popular and expensive. And now for many people who bought crypto is expensive very sad to watch as they lose in price.

Swenna

full member

Activity: 364

Merit: 106

Actually, for me, those cryptomillionaires who forgot all about their crypto were just all plain lucky guys. I've read some stories about them and mostly, everything starts with them mining bitcoin when it was first introduced, years ago. Their mindset back then was "I just wanted to test it out." And of course, the mining goes on, bitcoin wasn't as popular or as high value as it was during the consecutive years, so in the end, it was forgotten, not because they plan to hold it for a long term. They forgot it because it plainly doesn't have any "high" value that time. That's why I think they were really lucky if they manage to keep it up until now.

However, if people now, do the same, just keep their coins (bitcoins) or any other cryptocurrency sitting for years, then I'll say they're no longer lucky. Now, they'll be labelled as optimistic, risk-taker, and a patient investor.I am sure that with cryptocurrency's popularity now, holding coins for years just like what was mentioned will bring a lot of profit.

cakmabokgot

newbie

Activity: 182

Merit: 0

I have tons of airdrops in MEW. I am planning to take them to my Trezor and forgot about them. Maybe one of them will be the next bitcoin. Ahaha just kidding none of them will be a bitcoin level coin. Maybe one of them can make it up to the top 20 coins.
Pray and hodl and hope!

airdropan

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♦♦♦♦♦

not that all true but yeah
i can say i agree with u
when u wanna do long invest that best way , buy some cheap coin/token then forget it open after 1 or 2 years maybe?

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