Question to hodlers:How will you spend the money?

GbitG

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Quote from: Emmanuelex on June 30, 2024, 12:40:04 PM

The question you should ask yourself first is “why do we make money?”. I believe everyone here is not a child anymore, and as adults we all have responsibilities to take care of. So when we make money, it goes into taking of responsibilities that we all may have, which can go from feeding, to supporting our loved ones. And of course, we are not foolish, some part of the money would definitely go into savings, business and other investments that would yield more income for us. That's just it.

That's pretty straightforward and correct. We earn money because we need it to fulfill the requirements that we all have in our lives which requires finances. The world we live in runs on money, and those who don't have it will suffer a lot because everything these days requires you to have money. If you don't have any and aren't earning any, you are going to have a hard time living your life because not every helpless person is helped by someone.

Thousands of people in different parts of the world die due to hunger because they don't have money to get food or shelter and there is no one to help them. We may see some people and influencers helping people over the internet but that is just a very small percentage of the people who need help, and all others are left to suffer.

Emmanuelex

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The question you should ask yourself first is “why do we make money?”. I believe everyone here is not a child anymore, and as adults we all have responsibilities to take care of. So when we make money, it goes into taking of responsibilities that we all may have, which can go from feeding, to supporting our loved ones. And of course, we are not foolish, some part of the money would definitely go into savings, business and other investments that would yield more income for us. That's just it.

Nonstop_H

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Quote from: tajimas on May 04, 2024, 09:23:00 AM

Hello,friends
The question is addressed to hodlers who have been hodling bitcoin for years
Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income
It can be real estate,any business,buying land and renting it out or something else
Very few people will sell bitcoins just to spend this money in a few months,at least i don't know such people
Everyone here is a smart person and everyone here has thought about where to spend this money
That's my question

P.s. I'm a holder myself,i'm thinking about strategies and i'm interested in the opinion of other hodlers to put these ideas in my head and think about them

-Regards

To me selling your Bitcoin as a holder to invest on passive income is not the ultimate, it is imperative to keep holding our Bitcoin as long as we can to acertain the certainty we have as a bitcoiner. For without fear of any kind the future of Bitcoin will continue to unfold positive result to it's long time holders.

TheUltraElite

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Quote from: eightdots on June 02, 2024, 11:13:58 AM

Making a certain amount of profit is always a good thing. Those who hold Bitcoin for a long period of time probably have other sources of income, as they keep their investment intact. This allows them to keep holding on to their Bitcoin.

An additional source of income is always essential when trying to survive in a speculative market. That income is your cushion from mental distress while giving you enough time to turn the tables and profit from crypto. That is why I always discourage anyone with the rambo idea of giving up jobs/properties or gold for bitcoin.

Quote

Because they are used to the ups and downs of the market, they have also learned how to trade without panicking. This means that selling some of their investment to make a profit at certain times would be a sensible move.

Some of the investment can be sold as per need. Some should be kept for emergency too. There is an existing problem of less exchanges available or big taxation from the government. At present, the avenues of selling is less in many countries.

eightdots

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Quote from: tajimas on May 04, 2024, 09:23:00 AM

P.s. I'm a holder myself,i'm thinking about strategies and i'm interested in the opinion of other hodlers to put these ideas in my head and think about them

Making a certain amount of profit is always a good thing. Those who hold Bitcoin for a long period of time probably have other sources of income, as they keep their investment intact. This allows them to keep holding on to their Bitcoin.

Because they are used to the ups and downs of the market, they have also learned how to trade without panicking. This means that selling some of their investment to make a profit at certain times would be a sensible move.

boty

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Quote from: fauzan Ichsan on May 27, 2024, 11:20:02 PM

Quote from: yazher on May 27, 2024, 01:26:17 PM

I only spend the money on some important matters where I think I can earn even more from it especially when some people rush to sell their properties at lower prices. You just need to have some money awaiting for that to happen and to have them in your crypto wallet as bitcoins, is the best thing you could ever do because you are not only saving them securely rather you also surely giving it a chance to multiply cause of the bull runs. If you do this while you have multiple sources of income, it's easy for you to hold it for the long term so that you will be able to earn more from it in the future.

To buy and sell it again requires the right time so that our assets grow rapidly. and to know the right time, good knowledge is needed, so that we can analyze it well and be patient in waiting for the momentum. when people panic selling at low prices, that's the time we buy it and wait until there is a lot of demand which causes the price to rise, until many people buy it then we sell it before the anti-climax occurs

When you can analyze well, of course you will be able to know the right time to buy or sell it and to be able to know this, of course we must first understand well the asset we are going to buy and also have a plan before deciding to buy the asset. which we will invest and if there is a market correction of course there is no need to panic and if we have sufficient funds we can take advantage of this opportunity to increase the assets we have and we will be able to make a profit if prices increase again.

Mahanton

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Quote from: tajimas on May 04, 2024, 09:23:00 AM

Hello,friends
The question is addressed to hodlers who have been hodling bitcoin for years
Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income
It can be real estate,any business,buying land and renting it out or something else
Very few people will sell bitcoins just to spend this money in a few months,at least i don't know such people
Everyone here is a smart person and everyone here has thought about where to spend this money
That's my question

P.s. I'm a holder myself,i'm thinking about strategies and i'm interested in the opinion of other hodlers to put these ideas in my head and think about them

-Regards

Actually it would really be always that recommended that you shouldn't really be putting your eggs on one basket but we do really know that when it comes to investment then cryptocurrency could give
something which you cant really be able to achieve by other typical investment even just on holding it on which it would really be that something that will really be that some people will be thinking that
this is their end game on which they would really be holding it no matter what because they do really believe that it could really make them even more richer. Well, its not bad if you do have this kind of mindset
on which it could really be true and having that chance but of course we do know that in any investment there would really be that accompanied risks.

So to divide up the risks then it would be best that you should really be tending to scatter it out with those typical investment that we do know. Dividing up the risks so that
if ever the crypto investment that you do have do fail then you could really be having that back up plans or chance of recovery on which this something that would really be that preferable.

albon

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Quote from: Maestro75 on May 28, 2024, 12:56:51 PM

And when will all this happen, that bitcoin will become the world reserve and central banks will have to embrace. This is a dream that may not come to pass. Asking people not to sell their bitcoin may not be to their own favour. I say that because everybody has what they need money for. Those who hold bitcoin should not feel any guilt selling at any time. It is their investment and they can do with it whatever that please them.

Each of us looks at the future of Bitcoin with his own perspective. Some believe in the capabilities of Bitcoin and its fundamental characteristics that may make this possible, and some see that these are just dreams. The achievements that Bitcoin has achieved over the past years until now, and its widespread adoption by countries, major companies and Institutions, exchange-traded funds, and prominent businessmen figures...etc., make us expect a bright future for this investment, which continues to grow and has not faltered during crises, creating a revolution in the financial world like never before.

Of course, every investor has the absolute freedom to sell or hold their Bitcoin or the returns they've gained from their investment. Each of us has different circumstances, goals, strategies, and plans. For me, if Bitcoin achieves satisfactory profits in the long term, I might sell part of my holdings and keep the rest. It truly doesn't matter if Bitcoin takes longer to yield the desired returns because I'm not relying on it as a primary source of income but rather as a forgotten investment for the future.

Maestro75

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Quote from: Smartprofit on May 04, 2024, 12:34:08 PM

In my opinion, there is no point in selling your Bitcoins until Bitcoin finally becomes the world's reserve currency and an integral part of central banks' gold and foreign exchange reserves. Moreover, when this event occurs, there will be no need to sell Bitcoin for fiat money. Its cost will be so high that the hodlers will not sell it, but will only pawn it.

And when will all this happen, that bitcoin will become the world reserve and central banks will have to embrace. This is a dream that may not come to pass. Asking people not to sell their bitcoin may not be to their own favour. I say that because everybody has what they need money for. Those who hold bitcoin should not feel any guilt selling at any time. It is their investment and they can do with it whatever that please them.

Kruw

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Quote from: tajimas on May 04, 2024, 09:23:00 AM

Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income

There is no such thing as "passive income". This is a myth conjured by people who don't understand inflation causes prices of things (including assets they own) to rise.

peter0425

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Quote from: Abdulzuruku01 on May 07, 2024, 02:52:01 AM

I have not started investing in bitcoin yet, but I have made a plan for it. Soon, I will start my bitcoin investment. I've found a steady source of income because I don't want to face any financial troubles when I start investing.

That is really smart that you are planning well before you jump in on investing in bitcoin. Most people due to the fear of being left out, they leave everything behind and dive in to investing. You should find the balance between planning well and not missing the correct time frame.

You want to wait but also not wait too long. It's a really complex and difficult line to balance in between

fauzan Ichsan

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Quote from: yazher on May 27, 2024, 01:26:17 PM

I only spend the money on some important matters where I think I can earn even more from it especially when some people rush to sell their properties at lower prices. You just need to have some money awaiting for that to happen and to have them in your crypto wallet as bitcoins, is the best thing you could ever do because you are not only saving them securely rather you also surely giving it a chance to multiply cause of the bull runs. If you do this while you have multiple sources of income, it's easy for you to hold it for the long term so that you will be able to earn more from it in the future.

To buy and sell it again requires the right time so that our assets grow rapidly. and to know the right time, good knowledge is needed, so that we can analyze it well and be patient in waiting for the momentum. when people panic selling at low prices, that's the time we buy it and wait until there is a lot of demand which causes the price to rise, until many people buy it then we sell it before the anti-climax occurs

Smartvirus

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Quote from: tajimas on May 04, 2024, 09:23:00 AM

Hello,friends
The question is addressed to hodlers who have been hodling bitcoin for years
Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income

It’s important to note that aside from Bitcoin, there are a lot of other places you can invest your money such as you’ve highlighted a few, like having to buy properties, real estate, investing in stocks and buying shares, these are gainful ways to invest money too and you can archive this even without liquidating your portfolio.
It’s important to note that, most investors that take up Bitcoin investment with a long term hodling plan on it, definitively have other streams of income to sustain their hodling through the years it would take.

You can’t really be a good hodler without having an alternative source of income. That’s where you get more investment funds from and that’s how your hodlings gets sustained. In essence, you don’t get to have a definite plan for selling some of your hodlings but, as the need arises.

yazher

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I only spend the money on some important matters where I think I can earn even more from it especially when some people rush to sell their properties at lower prices. You just need to have some money awaiting for that to happen and to have them in your crypto wallet as bitcoins, is the best thing you could ever do because you are not only saving them securely rather you also surely giving it a chance to multiply cause of the bull runs. If you do this while you have multiple sources of income, it's easy for you to hold it for the long term so that you will be able to earn more from it in the future.

Agbamoni

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Quote from: reagansimms on May 07, 2024, 12:02:55 AM

There are many ways you can earn passive income, one of the simplest ways you can do is sell Bitcoin when the price is high and buy again in large quantities when the price is cheap. Buying Real Estate or land is not a bad idea, you can collect profits from Bitcoin investments to increase your source of income in the future. People here who have built a very emotional relationship with bitcoin always think Bitcoin investment is the best for now, they can do it easily without having to spend maintenance money and avoid fraud.

This not a profitable idea. There are times we may sell our bitcoin high and wait for the price to do down so we can buy at a lower price that the price would choose to remain so high and in most cases after we have sell the price would go way higher and never come down again. I wouldn't advice anyone to adopt this method because the chances of making passive income is low.

People that should develop this pattern should be investors who have enough bitcoin that they are holding for long and then they choose to play around with some amount of money using this strategy to see if they can increase such money, but their main investment still remains intact for long term purposes.

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Quote from: tajimas on May 04, 2024, 09:23:00 AM

Hello,friends
The question is addressed to hodlers who have been hodling bitcoin for years
Sooner or later there will come a moment when we will sell the bitcoins we hodl and have to invest this money in something else to create passive income
It can be real estate,any business,buying land and renting it out or something else
Very few people will sell bitcoins just to spend this money in a few months,at least i don't know such people
Everyone here is a smart person and everyone here has thought about where to spend this money
That's my question

P.s. I'm a holder myself,i'm thinking about strategies and i'm interested in the opinion of other hodlers to put these ideas in my head and think about them

-Regards

I think the best way to invest this money would be a real estate business. That's the only business I know so far that doesn't cause you losses other than that every business has risks and they have losses at some point.

The real estate business can be so powerful and money making but that all depends upon your investment abilities. If you hire some good strategiest to make your investments then you bets can come out richer.

TheUltraElite

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Quote from: Volimack on May 06, 2024, 10:25:19 PM

Instead of saving just for the sake of saving if you save for short and long term goals saving is beneficial. Retirement planning etc.

How much we can actually fund our retirement is pipe dream. In truth we will be spending most of it in emergencies and needs. You may be using bitcoin for the same while your forefathers have used fiat.

Truly, bitcoin is just a method to transact, it has its differences but you just transact with it or store it. You will have to spend it or pass it over to the next of kin. So being a hodler if your job is not a stable one, your chances of having to spend the bitcoin for needs is much high. Hence I always advice newbies to have a stable job and keep bitcoin in the side hustle not the main.

Miles2006

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What I understood and I will definitely practice after building my bitcoin portfolio is diversification. I can’t go into bitcoin 100% fully without owning other asset, I can as well build my bitcoin portfolio after withdrawing for other investment choice. Ending bitcoin investment is not even right after spending so many years building a quality portfolio, withdrawing has a different strategy so an investor don’t end up messing around with their investment all just for withdrawing profit. Everyone will decide what’s best for their well being likewise decision making in terms of investment choice and profit, every investor will set a goal before thinking of investing with different plans.

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Quote from: Gaza13 on May 07, 2024, 04:41:40 AM

Where does someone spend the money from the bitcoin profits you mean? I don't hold much bitcoin. If I made a big profit from bitcoin, I would personally buy something that could make me money back.

Indeed, everyone really wants to get profits from Bitcoin, which can produce something productive such as land, apartments and then make money back. With Bitcoin's journey of almost a decade, of course everyone is well aware of this asset, that this asset is truly promising for the future for everyone who keeps it. Of course, everyone is competing to spend their money to invest in this asset.

Returning to investing with the profits we have obtained from investing in Bitcoin is of course very good, but we have to really understand well the investment we are starting so that we can run it well and get back profits from the investment we have just started. Everyone certainly wants to invest in real assets as you mentioned and at this time of course people will try their best to be able to accumulate a number of Bitcoins because they will be very confident that they will be able to make satisfactory profits when the price of Bitcoin increases in the future.

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Quote from: aoluain on May 07, 2024, 02:55:56 AM

Its important to realise that long term HODL'ers are not going to sell everything all at once,
ok there are probably a small percentage who will.

I can speak for myself obviously, but I wont sell all of my HODL'ing ever, I will die with Bitcoin!

Most holders won't spend all their money just like that , I believe some would like to reinvest some amount of money into bitcoin again because many holders understand how important it is to have Bitcoin for hodling. as far as bitcoin is concerned bitcoin is concerned when holders are making plans on how their money will be spent the first plan is to take some amount of money to invest again because it is a good thing. Spending all the money gotten from bitcoin is not a very good decision. When spending money it is important to always remember to consider investment. The best way of spending money is making investment at the first plan, this is a plan that can also yield more money after sometime.

When invest is outside the box, the things we spend money expires, this is to also say they don't bring values but investment will always bring value that will always keep you in life going.

Topic: Question to hodlers:How will you spend the money? (Read 822 times)