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Topic: Rules to follow with bitcoin to live a happy life. - page 2. (Read 476 times)

hero member
Activity: 1274
Merit: 561
Leading Crypto Sports Betting & Casino Platform
Not just investing and holding, u must have another source that generates income for you while you hold your bitcoin for a longer time.

You got it right, that's another angle of successfully holding bitcoin, which alot of people dont practice. It helps hodling Bitcoin and also improves profits for investors and traders. Taking few bucks out of your BTC wallet to solve financial disputes affects the profits rate of the trader, because the market could get bullish the next day. Also, its a sure guarantee for losses. I've read the article Op posted in the past and those are valid instructions for intending holders who wish to perform well in the market. Hence, everyone knows what works best for them, it's a personal experience. The method we see on blogs are generalized.
sr. member
Activity: 574
Merit: 310
All the rules listed in this thread are all nice and right.
Living a happy life with bitcoin is simple to those who understand the pattern of bitcoin investment.
Holding in bitcoin gives you a relaxed mind while dealing with bitcoin. Not just investing and holding, u must have another source that generates income for you while you hold your bitcoin for a longer time.
Most people don't do research or ask questions about bitcoin investment. With the above listed rules, i believe most of us will learn and also teach others.
hero member
Activity: 2716
Merit: 552
Rules to follow with bitcoin to live a happy life.

That's just too many rules lol. Let's just cut it into two simple rules.
1. Hodl till the most desirable target acheived.
2. Constantly buy while you're hodling.
This way you'll get away from the stressful market swings. Just sit back and relax wait for a few years and you'll most probably going to have the best retirement funds.
This will for everyone though. Well, not for the impatient ones lol.
sr. member
Activity: 1498
Merit: 271
DGbet.fun - Crypto Sportsbook
Not bad for putting effort into the matter you made this topic. It is always said to other communities that, if anyone enters the crypto industry, he should know for himself whether he is a long-term or short-term investor?

     Because if you know where you are categorized, for sure the direction of what you will do in the future is good at least as long as the coins you choose are right except for Bitcoin which is really proven and tested in the long-term.
hero member
Activity: 1414
Merit: 513
Payment Gateway Allows Recurring Payments
Many people/I come to crypto for making so much money, But I am in loss now, I want to share some rules and mistake that beginner or most of the people make that is harmful for there mental and physical health.
your points are so generic but still most of the time people ignore them and lost there money like a community member in of our local board forgot to save his key phrases in which he had like maybe few hundred dollars but after making few attempts he found a useful way to get that assets back by using some parent and child relations of wallets. Point is no wonder how experienced you are, mistakes are prominent.

You mostly focused on saying that we should do only that which involve less tension and attention i think crypto is full of both. Like without tension you will give no attention to market. These are ignorable when you are hodling BTC for like decades but if you are hodling them for shorter period of time like even for 1 year of 2 years then observing market is advisable because in this way you will be familiar with the market trends and sentiments. but avoid to fall into market sentiments traps while observing them.

investing isn't all investing if you don't have any spare cash for emergencies or for savings.
You are totally right, money is not to just store but to get used, a few days back I read a topic where OP says, he locked his savings of BTC so that in future emergencies he could not use them, in my point of view that was not a good idea. But he also mentioned that he will tend to use his savings from other sources.
full member
Activity: 448
Merit: 225
1. Keep most of your holding in BTC

And after this had been done, also ensure that you are having tour bitcoin in your wallet and not with centralized exchanges, this gives you control over it, you can have it on an open source cold digital wallet or cold wallet, this is also very important in making sure you don't risk loosing your entire asset to the hands of exchanges.

2. Swing trade is good

I believe this is only good for you, it may not be for others, therefore consider the best trading pattern for yourself when starting, this could be day trading, swing, position or any other one, we should work by what is good for us and not for others, because at the end, it's your money that is involved and at stake.


just solved some mistakes
sr. member
Activity: 672
Merit: 416
stead.builders
1. Keep most of your holding in BTC

And after this had been done, also ensure that you are having tour bitcoin in your wallet and not with centralized exchanges, this gives you control over it, you can have it on an open source cold storage, this is also very important in making sure you don't risk loosing your entire asset to the hands of excha.

2. Swing trade is good

I believe this is only good for you, it may not be for others, therefore consider the best trading pattern for yourself when starting, this could be day trading, swing, position or any other one, we should work by what is good for us and not for others, because at the end, it's your money that is involved and at stake.
full member
Activity: 448
Merit: 225
Have something for holding and separate the funds for trading ok? that must be on the list and you must literally learn from that.
sharing the funds for trading and holding will be serve you mistake in decisioning , we must understand that in crypto? nothing is certain but speculation , that is what we need to take and only invest the funds whos in not so important needs.

It is a good idea to divide portfolio in two parts, one for long term and other one for trading purpose. Bitcoin is the best asset to hold in long term portfolio and 2nd best is Ethereum which has very strong use case. In order to generate profit in trading & increase worth of portfolio, learning technical skills is important to take right buying and selling decisions at the right time. Additionally, good knowledge of risk/money management is equally important to prevent major trading losses.

yes, if your prediction is wrong in most of the time then this skills, like you told ^ are save you from loses,
and most of the time market does opposite or you are wrong about that speculation then bankroll management is important (like in gambling)
copper member
Activity: 1316
Merit: 715
Eloncoin.org - Mars, here we come!
Have something for holding and separate the funds for trading ok? that must be on the list and you must literally learn from that.
sharing the funds for trading and holding will be serve you mistake in decisioning , we must understand that in crypto? nothing is certain but speculation , that is what we need to take and only invest the funds whos in not so important needs.

It is a good idea to divide portfolio in two parts, one for long term and other one for trading purpose. Bitcoin is the best asset to hold in long term portfolio and 2nd best is Ethereum which has very strong use case. In order to generate profit in trading & increase worth of portfolio, learning technical skills is important to take right buying and selling decisions at the right time. Additionally, good knowledge of risk/money management is equally important to prevent major trading losses.
hero member
Activity: 1386
Merit: 731
Leading Crypto Sports Betting & Casino Platform
I don't know though, it seems that sometimes we make things complicated with our bitcoin investment. So this rule is so rigid to follow in my opinion. For me just continue to accumulate as much as you can long term, keep it in a secure place and sell it at the right time, in the bull run to make huge profits.

I don't like to muddle and make it hard for me to understand what bitcoin investment is, just saying.

Maybe if a newbie saw a lot of rules or what not, they might believed that bitcoin investment is very hard.
Sometimes your assumptions are correct in some cases, but it really depends on each investor's plans and budget.
I can say that sometimes some people know how to put good security on their assets and they know the tricks, but they don't have that many assets to get that high of security. It doesn't make sense to me because just storing it in an open source online wallet is safe enough with simple security method like Electrum.

I think it's still fine and safe to keep $100 worth of bitcoins in Electrum or perhaps another open source wallet, but if it's larger investment like $10k or more then it's appropriate to suggest they store it in a hardware wallet. I agree that hardware wallet provides better level of security, but its use as storage wallet only has to be adjusted according to each individual's budget and investment plan.
sr. member
Activity: 2520
Merit: 280
Hire Bitcointalk Camp. Manager @ r7promotions.com
The simplified version is just HODL no matter what, so you don't lose the value cause you still hold x amount of Bitcoin which swings in terms of fiat value but in sats the amount will be same so as an investor you're not in a loss unless you sell for lower price than you bought.

Trading is good but it's not really needed for everyone so being investor is different from investor.
member
Activity: 273
Merit: 14
Swing trading is like a rollercoaster ride, sometimes it's fun, sometimes it makes you sick. But hey, at least you get to ride the ride.
sr. member
Activity: 1022
Merit: 368
Many people/I come to crypto for making so much money, But I am in loss now, I want to share some rules and mistake that beginner or most of the people make that is harmful for there mental and physical health.

3. never take leverage more than you can afford to hold for a night and sleep with no worry.

The psychological stress that comes as a result of being overleveraged cannot be compared with anything in this world. It is so draining emotionally. You can't eat, you can't sleep, every second your heart is racing and can even lead the individual to make rash decisions that could result in a significant loss of assets. Imagine still being required to pay a loan you requested when the market crashes. How do you repay? You request for a loan from someone else to repay the current loan. This is too much for anyone to handle.
hero member
Activity: 854
Merit: 663
Don't forget to stay away against all of shitcoins including to get those coins e.g. airdrop, bounties, etc because they will ask you to follow their rules and it's carry a risk that can compromised your coins e.g. submit KYC, installing their application, click random link etc.

In short, just hold your coins on hardware wallet, focus to make more money in your real life jobs, learn about security and privacy matter.
hero member
Activity: 2366
Merit: 838
1. Keep most of your holding in BTC
It's correct but it's not enough. You must store your BTC in non custodial wallets and must back up that wallets safely too.

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2. Swing trade is good
It's only good if you know when to trade swing and when you should not. If you trade swing when market is about to change its direction, you will lose your bitcoin by selling low, waiting for lower price to buy back but bitcoin soars and you end that trade with buying back at much higher price. You end it with less amount of BTC than when you started.

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3. never take leverage more then you can afford to hold for a night and sleep with no worry.
If you use leverage, hold your position over night is terrible idea. Some days, you can wake up and see your account is mostly emptied by margin call and liquidation.

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4. Just buy and hodl, Keep our coins off the exchanges.
A more detailed Reminder: do not keep your money in online accounts
hero member
Activity: 2632
Merit: 833
I don't know though, it seems that sometimes we make things complicated with our bitcoin investment. So this rule is so rigid to follow in my opinion. For me just continue to accumulate as much as you can long term, keep it in a secure place and sell it at the right time, in the bull run to make huge profits.

I don't like to muddle and make it hard for me to understand what bitcoin investment is, just saying.

Maybe if a newbie saw a lot of rules or what not, they might believed that bitcoin investment is very hard.
full member
Activity: 756
Merit: 133
- hello doctor who box
Have something for holding and separate the funds for trading ok? that must be on the list and you must literally learn from that.
sharing the funds for trading and holding will be serve you mistake in decisioning , we must understand that in crypto? nothing is certain but speculation , that is what we need to take and only invest the funds whos in not so important needs.
I don't think you need a list for investing on cryptocurrency, because you will only invest in some selected coins. Though it is only preferable that you invest only on bitcoin.
I agree on that part that only invest the funds you can afford to lose.
sr. member
Activity: 2618
Merit: 439
Have something for holding and separate the funds for trading ok? that must be on the list and you must literally learn from that.
sharing the funds for trading and holding will be serve you mistake in decisioning , we must understand that in crypto? nothing is certain but speculation , that is what we need to take and only invest the funds whos in not so important needs.
copper member
Activity: 1316
Merit: 715
Eloncoin.org - Mars, here we come!
Setting rules is not gonna be effective with each and everything. With traditional form of investment this could be effective, where with bitcoin and other cryptocurrencies we need to take decisions according to the market situation. Only then it is possible to book profit. We may follow the rules and hold for five years of time, in between the market reaches the ath price. By the time we know it is the ath yet we don't sell. Further the market crashes, what is the use of following the rules. With cryptocurrency making decisions associated with the market movements were the best.

I agree with your viewpoint that we should take advantage of volatility of crypto market, which provides trading opportunities to make profit, if we take right entry and exit decisions, but it is not so easy, as it is very difficult to predict the next move of the market unless you are well skilled to make technical analysis and know how to secure your trade buy using risk and money management tools, in case market goes against your position.

For newcomers in crypto market, it is always better to buy Bitcoin during the bear market and wait for bull run to book profit on your investment.

hero member
Activity: 2618
Merit: 548
DGbet.fun - Crypto Sportsbook
Setting rules is not gonna be effective with each and everything. With traditional form of investment this could be effective, where with bitcoin and other cryptocurrencies we need to take decisions according to the market situation. Only then it is possible to book profit. We may follow the rules and hold for five years of time, in between the market reaches the ath price. By the time we know it is the ath yet we don't sell. Further the market crashes, what is the use of following the rules. With cryptocurrency making decisions associated with the market movements were the best.
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