Lots of fiat these days has been devalued and the coronavirus made things even worse. Things got really bad after the pandemic and lockdown in my country, there is hunger, and crimes has kind of increased and some places are not safe any longer, very bad. The government are always looking for ways to make things harder for the poor masses which is not good. They are in power, so they feel that they can do whatever they want to do without caring if it’s going to affect the people.
I do use the USD as a store of value apart from the normal cryptocurrencies and other assets, and every time the USD keeps increasing in value more than our own native currency.
Topic: The reason to hodl bitcoin - page 3. (Read 850 times)
My main reason to HODL is to sell a certain amount of my profit when my target is achieved. I don't see HODLing like I will HODL my coins almost forever. Then, there is no meaning in buying Bitcoin. Because you never even think of selling it. What is the point in accumulating then, right? I believe that there are really this kind of people existing in this market also.
They might have bitcoins at his moment if there belief shifts that bitcoin is good for hodling or in terms of investment but I still believe many doubt up till now knowing bitcoin drop hard last month and that incident can strengthen the beliefs of bitcoin doubters and haters that its not good to have bitcoin since the risk is so high. That's why this asset is not for all since only few of us can handle the volatility and we are lucky that we hold it and have patience for any possibilities that will happen on it since we can see the result that we really earn even if the volatility is so high.
I do believe that every time bitcoin drops there will be some people who go "aha! told you!" and you need to ignore them. Look at the crypto situation right now, we are talking about how much money is being made by so many people, and got made in the past, if you keep on investing and waiting long enough then you are going to make profit from bitcoin and most other major altcoins as well. It is just unfair to compare bitcoin in short term cases when you are talking about long term investment.If I invested in any time aside from last 2-3 months, I would have made money by now, yes we had a fall now, but if you are a "long" term investor then you are looking at it in years, if I invested last year I would have made money, year before that would be higher, year before that even higher and goes on like that, so every year it made more money, and every year it could make more.
This is very clear for me to about what will happen with time in our future. What has happened to fiat from the above explanation is true and I am not seeing any currency from any country that has not lost value or a little depreciation because of the economic development and changes in the world. This is interesting enough that bitcoin has more advantage
And yet the fiat system has ushered in unparalleled economic prosperity despite the inflation "problem." There are many reasons that deflationary currencies were abandoned, but the main one is that they discourage economic activity and slow down economic growth. If the choice is having a smaller economy anchored by a deflationary currency, or the current monetary-economic model that maximizes economic growth at the cost of minor inflation, I pick the latter every time. It is only under the latter that we have achieved the level of economic prosperity we have today. Yes, over decades holding cash is a dumb idea under this model; so don't do it. It's far dumber to pine for an inferior economic model just because it solves a relatively minor issue that can be easily avoided. That's insanity.
But I think you should also put some on the bank.
I don't know what your reasons are for keeping money in the bank. I don't see it as the best way to profit from the interest earned on it. That's not fair enough when compared to using money in investments. So far I have never again put a lot of money in a bank account because honestly I did not get the results that were worth it. I prefer to invest in some commodity assets like gold and cryptocurrencies. So far, gold has been my second choice as a long term investment asset and bitcoin remains my top choice. Both can be profitable for me in the long run and this is the best way to maximize the function of money. 
Here's a simple reason that I believe is why I am still hodling bitcoin, it's because what I have today might be double or even triple in months if not years or it could also be years plus it's a good way to make your money grow, having nothing to do with it, you can let it stay there for a long period of time and hopefully expect it to go up.
You should be comfortable hodling your Bitcoin because it's not a guaranty that it will make you money, the market is not stable and it's very volatile and also it's important what price you bought your Bitcoin if you are already made ten times profit and you got your investment back it's ok to hodl Bitcoin as you already break even and what you are holding is your profit.
the reason why i keep collecting bitcoins and i keep holding is for long term investment. When I am old I want to fully enjoy my old age with my family without being burdened with work responsibilities. I strongly believe the price of bitcoin will continue to increase just as it did in 2010 until now. the limited number of supplies and the increasing number of investors make me even more convinced that investing in bitcoin is the best investment right now.
We hope that bitcoin can realize our financial freedom in old age, i also make bitcoin for long term investment because i believe that bitcoin price will continue to skyrocket, now i hold back on buying non-essential things like electronics, vehicles or others and just focus to collect bitcoin.
I hold bitcoin for the main reason of appreciation. I believe that BTC's price right now is still small that it could potentially rose to a 10x in the future. Another thing is it solves inflation. Instead of saving my money in bank, I put it in BTC and watch it grow as it goes.
You trust bitcoin too much. And that's what is important if you decided to hold bitcoin. That was what the early adopters did and that was a great decision. But I think you should also put some on the bank. Due to inflation, the bitcoin you were holding may decrease in value and will get back and get much profit but what if you need urgent money but the price of bitcoin is low due to inflation, what will you do?
I believe that the main reason why Hodl should be made to BTC is simple, and everyone is looking for it, even if they say no, if we are clear that BTC will rise, why sell it at this time? According to PlanB's S2F model it is logical to think that at some point in life it will happen, BTC can easily reach $ 100k in this same year, in fact it is happening, we just have to wait, according to the model the second target is to $ 288k, nothing more with that study, what else can you expect? It is the pure reality, even buying ahroit right now, BTC is still cheap.
Part of the reason I hold Bitcoin and some valuable Altcoins.
Bitcoin as an investment and store of value. $100 USD in 2013, If we hold it until now, It's still $100 USD, But we can say the benefits are reduced, Because $100 USD in 2013 can be used to buy more things when compared to $100 this year.
It would be different if we bought $100 USD worth of Bitcoin in 2013 - we could get around 1 Bitcoin - and hold it until now, Then its value could be $48000 USD.
In addition, the limited supply of Bitcoin makes Bitcoin has the potential to continue to grow in terms of price.
Bitcoin as an investment and store of value. $100 USD in 2013, If we hold it until now, It's still $100 USD, But we can say the benefits are reduced, Because $100 USD in 2013 can be used to buy more things when compared to $100 this year.
It would be different if we bought $100 USD worth of Bitcoin in 2013 - we could get around 1 Bitcoin - and hold it until now, Then its value could be $48000 USD.
In addition, the limited supply of Bitcoin makes Bitcoin has the potential to continue to grow in terms of price.
So what you mean is the inflation of USD from 2013 up until now.
Well, that's something inevitable from any country in the world, but when you hodl since 2013, $100 is worth 48 thousand times in the current value.
So, I guess one of the reason why people hodl Bitcoin is to avoid the inflation, plus the total financial freedom that has been deprived to us by the traditional banking system.
Part of the reason I hold Bitcoin and some valuable Altcoins.
Bitcoin as an investment and store of value. $100 USD in 2013, If we hold it until now, It's still $100 USD, But we can say the benefits are reduced, Because $100 USD in 2013 can be used to buy more things when compared to $100 this year.
It would be different if we bought $100 USD worth of Bitcoin in 2013 - we could get around 1 Bitcoin - and hold it until now, Then its value could be $48000 USD.
In addition, the limited supply of Bitcoin makes Bitcoin has the potential to continue to grow in terms of price.
Bitcoin as an investment and store of value. $100 USD in 2013, If we hold it until now, It's still $100 USD, But we can say the benefits are reduced, Because $100 USD in 2013 can be used to buy more things when compared to $100 this year.
It would be different if we bought $100 USD worth of Bitcoin in 2013 - we could get around 1 Bitcoin - and hold it until now, Then its value could be $48000 USD.
In addition, the limited supply of Bitcoin makes Bitcoin has the potential to continue to grow in terms of price.
They might have bitcoins at his moment if there belief shifts that bitcoin is good for hodling or in terms of investment but I still believe many doubt up till now knowing bitcoin drop hard last month and that incident can strengthen the beliefs of bitcoin doubters and haters that its not good to have bitcoin since the risk is so high. That's why this asset is not for all since only few of us can handle the volatility and we are lucky that we hold it and have patience for any possibilities that will happen on it since we can see the result that we really earn even if the volatility is so high.
Trust in bitcoin has now expanded since the increase this year, even I saw a drastic increase in them investing in bitcoin even though they already knew about the risks that would be faced, namely a severe decline and an unexpected increase in a significant time.About the doubters and haters of bitcoin, there must be even those who really don't believe it, we shouldn't look there because our views will always be different, therefore we will know better how to grow volatility better, so there are so many reasons why you should hold bitcoin.
Trust will always there from the old bitcoin investors and hodlers but for new guys hanging around which they are just riding with hypes also with FOMO's for sure they will not trust the movements especially when bitcoin dumps hard. I don't believe that haters will always be haters since maybe that temporary emotion occur to them its because they didn't expect that they will lose all there money for a single mistake they made but once they know about and see bitcoin price surge for sure they will be back trying their luck to earn again.
keep choosing Bitcoin, for me now the presence of Bitcoin is like the emergence of the internet in its early days. only 11 years after Bitcoin was born. because I admire the technology that underlies Bitcoin, blockchain. do not want to just be spectators in the development of new technology. by having bitcoin even a little, I can be proud. maybe in the future bitcoin really can be a solution among the world's economic solutions
Owning bitcoin is mandatory so that we don't regret it when the price is very expensive, I'm sure that bitcoin will continue to shine and can last for a long time, currently I have around 0.0852 btc which I will make a long term investment, I regret it for some time then sell a lot of bitcoins when the price is $34k.
You assume that the bitcoins will stay in demand for many years to come and the demand is feeding a long-term price increase, but that is flawed. Gold might have been the go to option for people, because of scarcity ...but bitcoins are devalued by the massive amounts of Alt coins that are being added every day.
You may be partially correct when you say that altcoins devalue Bitcoin. But these top-rated cryptocurrencies are also essential for the entire ecosystem because they solve some of the unique challenges around DeFi, staking, farming, extended privacy, etc. So nowadays people invest their money in the entire crypto market. I believe the Bitcoin price will double as we get closer to the next halving of the mining reward for the added block, because the whales do not yet want to feed the mining pools that are selling overpriced BTC coins as soon as possible.
The mentioned gold also has its competitors such as silver, platinum, etc. Some people buy these precious metals in order to diversify their portfolio. Again, they do not want to "put all eggs in one basket", so they invest in the entire ecosystem this way.
Imagine that one day some cryptography researcher will crack the "secp256k1" elliptic curve and be able to solve the DLP problem in a short period of time. In this case, several top-rated cryptocurrencies will be immediately dumped. Hence, alternative coins are also needed, such as Monero and Stellar which are based on different cryptography. Of course, hacking the algorithms used on the Bitcoin network is almost not a feasible task. This is the reason why I hold Bitcoin.
There are various reasons why everyone on this forum wants to own bitcoin and keep it for the long term, I personally save bitcoins to multiply the capital I spend now to be able to enjoy it in the future, because what you get later is the result of the hard work we do from now on
Exactly. If we can be wiser today, then saving bitcoin for our future is a good thing to do. And i think that's everyone purpose why we still chose to hodl bitcoin even if the value keeps fluctuating. Bitcoin is our future and the future of finance so while we still have chances to get it, then grab the opportunity.I personally hodl bitcoin not just for the profits that it will bring in the future but also having it as a currency is the most convenient thing i think. Maybe for now, we are still chasing bitcoin for our own beneficial profits but the time will come that it will be already used as a currency and i think i should prepare myself for that day by accumulating bitcoin as early as now.
After what Bitcoin has shown us all for 12 years, where the price of Bitcoin is increasing and can provide huge profits. It is very natural that
eventually many people began to believe that holding Bitcoin could secure the future. So like you said, we must immediately take the opportunity,
by collecting as much Bitcoin as possible. So when Bitcoin's price goes higher and higher, we can enjoy profit. The popularity of Bitcoin has also
finally made some countries start considering Bitcoin as a currency. So the development of Bitcoin will be surprising in the future, in conclusion
there will be many benefits that we get if holding Bitcoin in the long term.
for longer years to come despite of the sudden changes on the market which it is really most likely to affect your plans or goals ahead specially when the market is dumping on where you could really presume
anytime on making some panic sell to cut losses. Some do succeed but some do commit mistakes and this is will always vary on peoples decision because not all would really be having the same mindset
and goals in life or simply towards into their investment.
keep choosing Bitcoin, for me now the presence of Bitcoin is like the emergence of the internet in its early days. only 11 years after Bitcoin was born. because I admire the technology that underlies Bitcoin, blockchain. do not want to just be spectators in the development of new technology. by having bitcoin even a little, I can be proud. maybe in the future bitcoin really can be a solution among the world's economic solutions
Even today, i already see bitcoin as our answer to the current economic problems. Its just that the government is not on its side but who knows in the future? Everything will eventually be learned and so lets give the government more time before it finally legalize the usage of bitcoin not merely as an investment alone but definitely its main goal as a currency.I understand that majority of us are hodling bitcoin for pure profits. But things might change in the future. Bitcoin will not just a profitable investment but also a good reserved currency. And definitely i'm hodling for both reasons. Its just that i have strong faith in bitcoin and i think the community itself too.
apart from profit is more profit. BTC to be reserve currency will be too much of a positive outlook but we'll never know. all will be using LN when that happens, there must be something to be done to improve LN. but governments like it since there is a way to reverse a transaction.
Quote
Today, $100,000 has the same purchasing power that $14,945 had in 1971.
this is almost the same thing as what happened in my country's currency. there use to become products we can buy with just a Peso, i could even go from one place to another with a Peso and still have extra. every president of the country printed a lot of bills.
There are various reasons why everyone on this forum wants to own bitcoin and keep it for the long term, I personally save bitcoins to multiply the capital I spend now to be able to enjoy it in the future, because what you get later is the result of the hard work we do from now on
Exactly. If we can be wiser today, then saving bitcoin for our future is a good thing to do. And i think that's everyone purpose why we still chose to hodl bitcoin even if the value keeps fluctuating. Bitcoin is our future and the future of finance so while we still have chances to get it, then grab the opportunity.I personally hodl bitcoin not just for the profits that it will bring in the future but also having it as a currency is the most convenient thing i think. Maybe for now, we are still chasing bitcoin for our own beneficial profits but the time will come that it will be already used as a currency and i think i should prepare myself for that day by accumulating bitcoin as early as now.
After what Bitcoin has shown us all for 12 years, where the price of Bitcoin is increasing and can provide huge profits. It is very natural that
eventually many people began to believe that holding Bitcoin could secure the future. So like you said, we must immediately take the opportunity,
by collecting as much Bitcoin as possible. So when Bitcoin's price goes higher and higher, we can enjoy profit. The popularity of Bitcoin has also
finally made some countries start considering Bitcoin as a currency. So the development of Bitcoin will be surprising in the future, in conclusion
there will be many benefits that we get if holding Bitcoin in the long term.
The simple reason why I am still holding my Bitcoin so far:
The proof and trust to Bitcoin itself. 'For us who have been here and understand how Bitcoin, will know how worthy Bitcoin, sometimes, with no words again.
Getting Bitcoin much worthier, again and again, has also become our bigger desire for Bitcoin.
As a currency itself, it will be very okay when it can be realized, always. Many people will also agree with this, moreover, if most countries can legalize Bitcoin as a currency (because nowadays many still ban it as a currency, as in my country). This will lead Bitcoin to be more and more accepted in the world, and of course, will make BTC worthier.
The proof and trust to Bitcoin itself. 'For us who have been here and understand how Bitcoin, will know how worthy Bitcoin, sometimes, with no words again.
I understand that majority of us are hodling bitcoin for pure profits. But things might change in the future. Bitcoin will not just a profitable investment but also a good reserved currency. And definitely i'm hodling for both reasons. Its just that i have strong faith in bitcoin and i think the community itself too.
Logically and mostly yes. Getting Bitcoin much worthier, again and again, has also become our bigger desire for Bitcoin.
As a currency itself, it will be very okay when it can be realized, always. Many people will also agree with this, moreover, if most countries can legalize Bitcoin as a currency (because nowadays many still ban it as a currency, as in my country). This will lead Bitcoin to be more and more accepted in the world, and of course, will make BTC worthier.
keep choosing Bitcoin, for me now the presence of Bitcoin is like the emergence of the internet in its early days. only 11 years after Bitcoin was born. because I admire the technology that underlies Bitcoin, blockchain. do not want to just be spectators in the development of new technology. by having bitcoin even a little, I can be proud. maybe in the future bitcoin really can be a solution among the world's economic solutions
Even today, i already see bitcoin as our answer to the current economic problems. Its just that the government is not on its side but who knows in the future? Everything will eventually be learned and so lets give the government more time before it finally legalize the usage of bitcoin not merely as an investment alone but definitely its main goal as a currency.I understand that majority of us are hodling bitcoin for pure profits. But things might change in the future. Bitcoin will not just a profitable investment but also a good reserved currency. And definitely i'm hodling for both reasons. Its just that i have strong faith in bitcoin and i think the community itself too.
keep choosing Bitcoin, for me now the presence of Bitcoin is like the emergence of the internet in its early days. only 11 years after Bitcoin was born. because I admire the technology that underlies Bitcoin, blockchain. do not want to just be spectators in the development of new technology. by having bitcoin even a little, I can be proud. maybe in the future bitcoin really can be a solution among the world's economic solutions
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