Too many chickens own BTC. Don't be a chicken, HODL! BE A LION.

pawanjain

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Quote from: Fivestar4everMVP on December 19, 2022, 01:59:03 PM

Quote from: virtualdn on November 09, 2022, 05:19:16 PM

1 BTC = 1 BTC. That's all you need to know. Less drama, live longer.

1 btc equals to 1 btc Grin

, knowing this give peace of mind indeed, but the problem is that majority of people holding and investing in bitcoin do not see the price of bitcoin this way, every one seems to focus fully on the dollar worth of bitcoin and this is why many panick and sell at the slightest downward movement of the price.

If investors and holdler can begin to see bitcoin for its true worth, negative outcomes in this space like the crash of FTX wouldn't matter, and neither wil it have the kind of effect it had on the entire crypto market.

But anyways, I believe that some day, we will get to that point where hodler will start looking at the number of bitcoin they own rather than the amount of dollars they own in bitcoin.

That point of time will only come when bitcoin has been accepted globally and a mainstream adoption of bitcoin takes place.
Since bitcoin has a dual nature of being used as a payment method as well as being used as a tradable asset it is hard for people to treat as 1 BTC = 1 BTC.
This is because a vast majority of bitcoin holders are using as an asset and not as a payment method.
I guess it will remain the same forever. Bitcoin is too precious for it to be used as payment method sadly.

Jon_Hodl

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Quote from: virtualdn on December 16, 2022, 04:10:09 AM

It's funny how many people say "why haven't you sold at 60k" when even they didn't know that 60k was going to be the top

As I've said, HODL, less headaches.

Yes. So true. I get so much static from all of the haters when the price dumps but all of them will be asking me how to buy bitcoin the next time the price surpasses $60k. I wish they all understood how simple it is to just set up a DCA (of at least $20/month) and don't stop buying for 5 years or more. It's so simple. SMFH.

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Quote from: GideonGono on December 19, 2022, 01:22:42 PM

The problem is that not everyone could control their emotion or fear when the price starts to drop low.
And I think that the reason why others couldn't HODL is that they invested more than they could, so when the price drops down they have no other choice but to sell because they couldn't afford to hold it.

Well thats true and most people that go into investing in bitcoin were probably given the wrong orientation on how the crpto space actually work. Their were probably told about only the benefit one could get from bitcoin by investing but wasn't properly explained on how btc is a volatile currency and how its price rate constantly fluctuates.

As an investor you should probably know and understand the kind of investments you are getting into and be ready to endure losses and be ready to hodl your coins no Matter the dip, just as you are certain the price will eventually go high for better profits to be achieved.
The issue of not been able to control their emotion and selling off their coins for during a dip in investment is only common among first time investor or people with little understanding of the crpto space .

Fivestar4everMVP

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Quote from: virtualdn on November 09, 2022, 05:19:16 PM

1 BTC = 1 BTC. That's all you need to know. Less drama, live longer.

1 btc equals to 1 btc Grin

, knowing this give peace of mind indeed, but the problem is that majority of people holding and investing in bitcoin do not see the price of bitcoin this way, every one seems to focus fully on the dollar worth of bitcoin and this is why many panick and sell at the slightest downward movement of the price.

If investors and holdler can begin to see bitcoin for its true worth, negative outcomes in this space like the crash of FTX wouldn't matter, and neither wil it have the kind of effect it had on the entire crypto market.

But anyways, I believe that some day, we will get to that point where hodler will start looking at the number of bitcoin they own rather than the amount of dollars they own in bitcoin.

bitzizzix

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Quote from: GideonGono on December 19, 2022, 01:22:42 PM

The problem is that not everyone could control their emotion or fear when the price starts to drop low.
And I think that the reason why others couldn't HODL is that they invested more than they could, so when the price drops down they have no other choice but to sell because they couldn't afford to hold it.

Yes, but they are still the part of us that will eventually become lions. Bitcoin or crypto can still be said to be a new investment or asset that is not widely known and understood by many people, especially those who are beginners and do it without having deep experience and knowledge. And when the price drops, they panic not knowing what to do which ends up selling it.
Emotions have been a part of this industry which happens when the price goes up or down I mean. They sell because of emotion when the price goes up, actually the price will continue to go up and eventually regret selling too fast. And when the price goes down they sell it in a panic the price will continue to fall, which is actually a good time to buy it because the price will come back up.

GideonGono

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The problem is that not everyone could control their emotion or fear when the price starts to drop low.
And I think that the reason why others couldn't HODL is that they invested more than they could, so when the price drops down they have no other choice but to sell because they couldn't afford to hold it.

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Quote from: virtualdn on December 16, 2022, 04:10:09 AM

It's funny how many people say "why haven't you sold at 60k" when even they didn't know that 60k was going to be the top

As I've said, HODL, less headaches.

As someone who has been holding for many years, and keep buying more, I dislike this analogy. I mean what's the point of calling our crypto friends chicken, what could we gain from it? I understand there is this underlying "be a lion" type of hype making involved, you want them to be hyped enough to want to be a lion and all that, but you just called their current state a chicken.

As long as you buy and sell, as long as you are involved, as long as you are interested, I feel like every person is a lion. The fact that they are not in fiat and they are interested in crypto is all the thing I need to call them a lion and support all of them the same.

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Quote from: xSkylarx on December 16, 2022, 09:54:59 PM

Quote from: bounceback on December 16, 2022, 09:09:31 PM

Quote from: Hyphen(-) on December 16, 2022, 04:34:02 PM

Quote from: virtualdn on November 09, 2022, 05:19:16 PM

This is the real issue BTC is facing. Chickens get afraid and sell even if they lose their money. They don't even understand how crypto works.

I've never sold a satoshi since 2013. I know BTC will rise back and one day will hit the 100k and beyond. In a way I'm glad this is happening, more strong hands and less chickens. HODL! Hoping to buy more if it gets down to 10k.

Haven't even heard about FTX until now lol. This shows how panicked I am Grin

1 BTC = 1 BTC. That's all you need to know. Less drama, live longer.

I see no reason to sell my Bitcoin during this bear market; if I did, it would imply that I have no idea about bitcoin's overall future.

People who are selling now are mostly new investors looking for quick money. When they see bitcoin falling, they panic and sell because they lack the patience to hold the Bitcoin for some time if the market recovers so that they can make a large profit.

Most people who sell during a bear market are probably people who don't know the history of bitcoin movements and make them panic when they see the market going down and see their portfolio value decreasing so they decide to sell immediately even though they realize that they will experience a loss after selling it, actually bitcoin is a cryptocurrency that is proven to be able to provide greater returns, especially for long-term holders, but so far not everyone has realized this when investing with bitcoin.

That is why before holding a bitcoin we must read and see the history of bitcoin what its up and down since as you've said a lot of newbies tend to panic sell. Mostly those new holders are only looking for profit and the good sides of it not the risk and downside that is why they don't have a plan when the price drops or they lose profit. When we are holding a bitcoin we should have plans on both sides so that we can cut our losses or lets just stay away from our devices and forgot the price so that we will be tempted to sell it.

Dumping mainly happens to newbies who have never experienced a bear market. Even when they learned about bitcoin's volatility history, they couldn't help but be confused because the theory and reality were completely different, patience and experience cannot be learned on paper or from someone's advice, it needs to be experienced in practice. Newbies need to see more bear season to become diamond hands like us. Everyone needs experience to grow.

xSkylarx

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Quote from: bounceback on December 16, 2022, 09:09:31 PM

Quote from: Hyphen(-) on December 16, 2022, 04:34:02 PM

Quote from: virtualdn on November 09, 2022, 05:19:16 PM

This is the real issue BTC is facing. Chickens get afraid and sell even if they lose their money. They don't even understand how crypto works.

I've never sold a satoshi since 2013. I know BTC will rise back and one day will hit the 100k and beyond. In a way I'm glad this is happening, more strong hands and less chickens. HODL! Hoping to buy more if it gets down to 10k.

Haven't even heard about FTX until now lol. This shows how panicked I am Grin

1 BTC = 1 BTC. That's all you need to know. Less drama, live longer.

I see no reason to sell my Bitcoin during this bear market; if I did, it would imply that I have no idea about bitcoin's overall future.

People who are selling now are mostly new investors looking for quick money. When they see bitcoin falling, they panic and sell because they lack the patience to hold the Bitcoin for some time if the market recovers so that they can make a large profit.

Most people who sell during a bear market are probably people who don't know the history of bitcoin movements and make them panic when they see the market going down and see their portfolio value decreasing so they decide to sell immediately even though they realize that they will experience a loss after selling it, actually bitcoin is a cryptocurrency that is proven to be able to provide greater returns, especially for long-term holders, but so far not everyone has realized this when investing with bitcoin.

That is why before holding a bitcoin we must read and see the history of bitcoin what its up and down since as you've said a lot of newbies tend to panic sell. Mostly those new holders are only looking for profit and the good sides of it not the risk and downside that is why they don't have a plan when the price drops or they lose profit. When we are holding a bitcoin we should have plans on both sides so that we can cut our losses or lets just stay away from our devices and forgot the price so that we will be tempted to sell it.

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Quote from: Hyphen(-) on December 16, 2022, 04:34:02 PM

Quote from: virtualdn on November 09, 2022, 05:19:16 PM

This is the real issue BTC is facing. Chickens get afraid and sell even if they lose their money. They don't even understand how crypto works.

I've never sold a satoshi since 2013. I know BTC will rise back and one day will hit the 100k and beyond. In a way I'm glad this is happening, more strong hands and less chickens. HODL! Hoping to buy more if it gets down to 10k.

Haven't even heard about FTX until now lol. This shows how panicked I am Grin

1 BTC = 1 BTC. That's all you need to know. Less drama, live longer.

I see no reason to sell my Bitcoin during this bear market; if I did, it would imply that I have no idea about bitcoin's overall future.

People who are selling now are mostly new investors looking for quick money. When they see bitcoin falling, they panic and sell because they lack the patience to hold the Bitcoin for some time if the market recovers so that they can make a large profit.

Most people who sell during a bear market are probably people who don't know the history of bitcoin movements and make them panic when they see the market going down and see their portfolio value decreasing so they decide to sell immediately even though they realize that they will experience a loss after selling it, actually bitcoin is a cryptocurrency that is proven to be able to provide greater returns, especially for long-term holders, but so far not everyone has realized this when investing with bitcoin.

Hyphen(-)

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Quote from: virtualdn on November 09, 2022, 05:19:16 PM

This is the real issue BTC is facing. Chickens get afraid and sell even if they lose their money. They don't even understand how crypto works.

I've never sold a satoshi since 2013. I know BTC will rise back and one day will hit the 100k and beyond. In a way I'm glad this is happening, more strong hands and less chickens. HODL! Hoping to buy more if it gets down to 10k.

Haven't even heard about FTX until now lol. This shows how panicked I am Grin

1 BTC = 1 BTC. That's all you need to know. Less drama, live longer.

I see no reason to sell my Bitcoin during this bear market; if I did, it would imply that I have no idea about bitcoin's overall future.

People who are selling now are mostly new investors looking for quick money. When they see bitcoin falling, they panic and sell because they lack the patience to hold the Bitcoin for some time if the market recovers so that they can make a large profit.

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Quote from: Bitstar_coin on December 16, 2022, 01:39:36 PM

Quote from: Blawpaw on December 15, 2022, 09:59:39 AM

Loose hands are holding bags and any FUD at all makes these guys sell at lowsy prices. On the one hand, this is not helpful at all and makes it hard for stability, but on the other hand it allows us to purchase bitcoin at cheap prices.

What is the essence of holding if the person can not withstand negative news?
Holding requires sacrifice and many people don't seem to realize that. You can't plan to hold btc for 2 to 3 years and expect to have a smooth ride without any bear period? there will always be ups and downs during the period of hold. So anyone planning to hold should be prepared for the unexpected that comes along.

They are still lulled by the condition where they are really very profitable and with the high bitcoin price so they don't accept when something like this happens.
I will not make this a classification, but on average, new people are here who have already bought at high prices, they are a little panicked about this, even though they have to realize that there are many rich people out there who come from bitcoin when they have passed their old age. this several times and even holding it in for so many years that they have become what they are now.
They just see bitcoin is a great place but don't realize that there are so many sacrifices that have to be made up front.

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Quote from: virtualdn on December 16, 2022, 04:10:09 AM

It's funny how many people say "why haven't you sold at 60k" when even they didn't know that 60k was going to be the top

As I've said, HODL, less headaches.

Because they think 60k is the highest price because they say that. lol

HODL is already strong they're easy to say that and go through it I'm now proceeding to where HODL bitcoin is the right way 10 years later or so I'm assuming I'm going to earn a lot of bitcoin.

Eliminate thoughts of being bearish and hoarding Bitcoin in a way that is fair to afford. Then the next HODL.

Tanvi50_

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Quote from: Ultegra134 on November 09, 2022, 05:33:22 PM

I'm curious: how is someone a chicken if he sold for $60,000 a year ago? Whether we like it or not, holding isn't necessarily the best practice out there. You could have sold during last year's ATH and bought back now, during the dip. I didn't know about FTX.com either, but this single incident was enough to send Bitcoin down to $15.000 within one day, which is worrying to say the least. I can't blame people for being emotional over their own money. It's hard to process that our funds are now worth more than 15% less in value, in a matter of a few hours.

So let's think of it like this. FTX news brought down BTC to $15k. Why hasn't BTC gone down past $15k? It could have gone to $1k or $0. But it didn't. Because the strong holders are still holding their BTC. And even if it goes to $10/8/7k, there will still be many people to buy and bring it back to its previous glory.
So those who are selling, really are chicken.

Bitstar_coin

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Quote from: Blawpaw on December 15, 2022, 09:59:39 AM

Loose hands are holding bags and any FUD at all makes these guys sell at lowsy prices. On the one hand, this is not helpful at all and makes it hard for stability, but on the other hand it allows us to purchase bitcoin at cheap prices.

What is the essence of holding if the person can not withstand negative news?
Holding requires sacrifice and many people don't seem to realize that. You can't plan to hold btc for 2 to 3 years and expect to have a smooth ride without any bear period? there will always be ups and downs during the period of hold. So anyone planning to hold should be prepared for the unexpected that comes along.

CryptoHeadlineNews

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Quote from: virtualdn on November 09, 2022, 05:19:16 PM

This is the real issue BTC is facing. Chickens get afraid and sell even if they lose their money. They don't even understand how crypto works.

I've never sold a satoshi since 2013. I know BTC will rise back and one day will hit the 100k and beyond. In a way I'm glad this is happening, more strong hands and less chickens. HODL! Hoping to buy more if it gets down to 10k.

Haven't even heard about FTX until now lol. This shows how panicked I am Grin

1 BTC = 1 BTC. That's all you need to know. Less drama, live longer.

It's really a compliment knowing you haven't sold your Bitcoin since 2013 Sir, but I think selling Bitcoin at some point or either swapping it to USDT when its price seems to be falling is not literally a bad idea, that's only if the seller intends to buy back again, because thou 1 BTC = 1 BTC, but 1 BTC at $68,000 can never be the same as 1 BTC at $17,000. Example, a person who sold 1 BTC at $68,000 in Nov last year, by today such individual will be a proud owner of 4 BTC at today's current price at $17,000

JoyMarsha

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When investing in cryptocurrencies, the one thought that crosses every investor's mind is how to earn from it. It is their prerogative to sell their bitcoin at a lower or higher price. It's their personal decision, not yours to make. I can't hold anybody responsible for that because I have sold my bitcoins for fiat before.

Just because you have the patience to hold onto your bitcoin investment, doesn't guarantee others will. People differ from one another. There are several financial scenarios when someone can feel like selling their bitcoin for fiat to cover their expenses.

LegendaryK

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Quote from: virtualdn on December 16, 2022, 04:10:09 AM

It's funny how many people say "why haven't you sold at 60k" when even they didn't know that 60k was going to be the top

As I've said, HODL, less headaches.

Also No Profit,
if you keep that up, well you'll never earn anything.
Maybe your grandkids will spend it, if the PoW bans don't occur and your private key is not lost. Tongue

FYI:
What happens when a Lion only hodls his prey and never eats it, the lion dies of starvation.
What happens when a person only hodls btc and never sell it, the person dies without ever gaining anything.

While the Chicken that sold at $60K, ordered a new coop and a bunch of organic grains to eat.
The Chicken would outlive the Lion , and have more to show than the person. Cheesy

virtualdn

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It's funny how many people say "why haven't you sold at 60k" when even they didn't know that 60k was going to be the top

As I've said, HODL, less headaches.

Crypto Library

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Buy in the dip and then hodl and hodl and then sell high I think it's the key .
And I also think that now the people's who are selling bitcoins now they don't have any knowledge about in Bitcoin or Crypto currency Investment. I'm more than happy with the price of bitcoin going down because I want bitcoin to come to a price where I can afford to hold a whole bitcoin.

Topic: Too many chickens own BTC. Don't be a chicken, HODL! BE A LION. (Read 1054 times)