Too many chickens own BTC. Don't be a chicken, HODL! BE A LION. - page 3.

GideonGono

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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.

We all have different circumstances in our life others need to cut loss in order to survive while other have the privileges to HODL because they could live on with it.
Not everyone is lucky enought to have that kind of privilege, I know most of the time we would tell the investors or trader to invest only what they could afford to lose so they could also hold it like you,
But in reality it doesn't happen that way people would be greedy to invest more than they could because of the higher profit that they are aiming.

kryptqnick

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I believe people should make their own financial decisions. While I strongly believe the market will recover and selling now at a loss doesn't make sense, I say people who don't believe in Bitcoin and its recovery should leave if that's what they feel like doing. One shouldn't hodl if one doesn't believe in hodling.
Not selling any BTC since 2013 is very impressive, but if by that the op also means not spending any BTC, it means that the op hasn't used BTC and thus hasn't benefited from that wealth for almost 10 years now. And what's the point of having wealth if you're not using it, not benefiting from it? Unless, of course, a person has other significant resources and BTC is saved up for something truly big/for being old/for children.
I see from the thread the op isn't planning to sell at $100k either, but does want to fulfil dreams with it. So is there a target, a point at which BTC will be spent or sold?

crunck

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Quote from: DeathAngel on November 18, 2022, 05:56:16 AM

It’s the same every bear market when max fear is spreading. I guess it’s human psychology, fight or flight response. Many choose to fly away & dump their coins.

You can’t do anything about these kind of weak people. In bearish times coins transfer from weak to strong hands.

That's exactly what financial markets are doing, not only with cryptocurrencies but also with forex or stocks. Money will go from the weak to the strong, from the inexperienced to the experienced. We can't expect everyone to win, money can't be generated by itself, it can only be transferred from person to person.

Flexystar

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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.

Love it. That actually ends the whole melodrama here and we can continue on focusing to HODL as long as we could. I am not claiming I am perfect hodler but I know one thing for sure, HODLING is really really important and it can give back fruitful results in the future. I only keep selling a portion of it all the time as and when required but I make sure that I contribute the similar amount back to my HODLINGS.

I wish I could keep buying more all the time. Right now I am literally shaking to collect funds somehow from different jobs and put into bitcoin considering the prices it has. :-D

I wish I would have been miner or manager whose getting paid in bitcoins. Seriously good times to buy more!

m2017

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Quote from: DeathAngel on November 18, 2022, 05:56:16 AM

It’s the same every bear market when max fear is spreading. I guess it’s human psychology, fight or flight response. Many choose to fly away & dump their coins.

You can’t do anything about these kind of weak people. In bearish times coins transfer from weak to strong hands.

And with each new cycle, beginners come, for whom such a fall of btc, as it will now be for the first time. They come with the hope that bitcoin will rise in price and make them rich, very quickly and without any serious effort. But the point is that will have to make an effort to keep yourself in control at such moments and not sell btc in a falling market. Of course, many of them will turn out to be those clings that OP writes about. Nothing to do or fix here. This story repeats with each cycle over and over again. They are weak because they are not able to show strength and keep their BTC in their hands and sell under the influence of panic.

Issa56

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Quote from: My ThuiHa on November 15, 2022, 02:27:23 AM

It looks like the price is going to fall for a while now. Musk said winter is long. This bear market will last for a long time.

No matter how bitcoin dump, no matter how long its going to take before bitcon bounce back am definitely going to hold, I dont care about what musk say, I know his not really having good intention towards bitcoin, but he can't do anything to stop bitcoin, Bitcoin will definitely bounce back again and am going to hold my bitcoin, no matter how long it will take before it bounce back am holding my bitcon and even in the next bull run am not ready to sell my bitcoin.

Quote from: My ThuiHa on November 15, 2022, 02:27:23 AM

When this bear market passes, not many people will stay in cryptocurrencies. When the bull market came, they saw that the price of Bitcoin was going to jump up again.

I think lot's of people will definitely leave cryptocurrency during this bear market, some people will sell their coin and leave, but I think most people that will do that are newbies that are just joining cryptocurrency and don't know much about cryptocurrency, but people that have stayed long in Cryptocurrency won't leave crypto after the bear market, because they know the bear market is normal.

Davidvictorson

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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 beg to differ. Nobody is a chicken for not being able to hold for long term. Consequently, nobody is a Lion for hodling for the long term. We are different people with different experiences, goals and objectives about bitcoin. While some persons may have the, "we live to fight another day" mentality others may have the "we die here" mentality. Whatever the mental philosophy may be, both are perfectly fine. Just do you.

DeathAngel

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It’s the same every bear market when max fear is spreading. I guess it’s human psychology, fight or flight response. Many choose to fly away & dump their coins.

You can’t do anything about these kind of weak people. In bearish times coins transfer from weak to strong hands.

virtualdn

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Quote from: buwaytress on November 17, 2022, 06:38:19 AM

Don't be name calling now, it's a game that turns against you Wink

But on an actually serious note, you know without sellers, there aren't buyers? Gotta learn to appreciate the chickens, or sellers, if you will. How else do we rely on regular purges to shake out the market and reveal the shiny solid foundations that we can build on?

Probably a matter of unfortunate timing for the cycle to come down just as the global economy's also buckling, but enjoy the drama, as you put it. When BTC is stable above 100k you might see yourself looking back with envy.

I'm helping, sometimes people need to wake up and see the truth.

Everyone was a chicken in life, including me, now it's time to change your mentality.

I was a chicken too (not everything relates to BTC) but now I'm a lion and I'm planning to remain a lion.

HODL! Be a LION.

This doesn't mean you should never sell! BTC is made for spending after all. Just sell when you gain not when you are losing.

wxa7115

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Quote from: RockBell on November 17, 2022, 01:20:02 AM

The goal right now is to HODL. Buying at 60000 and selling now is not a good business strategy. Bitcoin is not for the faint of heart. The majority are already panicking even after what happened to FTX. The op said that 1 bitcoin equals 1 bitcoin, which is not a bad mental strategy. Most of the time, I just avoid repeatedly checking the market to keep my cool. And another important thing let’s avoid leaving our funds in an exchange due to not your keys not your coin.

For those of us which have years of experience holding our coins it is not too much of a challenge to hold our coins under the current circumstances, but we cannot deny that for those that bought near the ATH it is difficult to hold their coins when the price has gone so low.

However those people need to take a long term approach to bitcoin, even if that was not their initial intention when they invested in this market, as selling right now will consolidate their losses, while waiting for a few years is exactly what they need to become profitable again despite their high buying price.

michellee

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Quote from: Victorik on November 17, 2022, 06:25:30 AM

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 don't totally agree with you on this one. People sell their cryptocurrency asset for many different reasons and that doesn't make them chicken, and holding on to a particular crypto asset doesn't make you a lion.

Someone might be in urgent need of money decide to sell some of his crypto asset, does this now amount to being a chicken?

You need to be smart in other to survive in this space and knowing when to sell and when to hodl is a very important aspect of survival.

When they decide to invest, they should already have their own budget that won't mix with their daily budget or budget for urgent needs. And if an urgent need requires money, it will not interfere with their investment because they have savings specifically used if there is an urgent need for money. So everything can still run according to their respective proportions. Investments can continue, while they can fill the sudden need at the right time.

buwaytress

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Don't be name calling now, it's a game that turns against you Wink

But on an actually serious note, you know without sellers, there aren't buyers? Gotta learn to appreciate the chickens, or sellers, if you will. How else do we rely on regular purges to shake out the market and reveal the shiny solid foundations that we can build on?

Probably a matter of unfortunate timing for the cycle to come down just as the global economy's also buckling, but enjoy the drama, as you put it. When BTC is stable above 100k you might see yourself looking back with envy.

Victorik

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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 don't totally agree with you on this one. People sell their cryptocurrency asset for many different reasons and that doesn't make them chicken, and holding on to a particular crypto asset doesn't make you a lion.

Someone might be in urgent need of money decide to sell some of his crypto asset, does this now amount to being a chicken?

You need to be smart in other to survive in this space and knowing when to sell and when to hodl is a very important aspect of survival.

EarnOnVictor

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I could see that what the OP wrote is what many people appreciate on BTT, but I don't because it does not express the true spirit of an investor. As the OP has not sold a single Satoshi since 2013, he might have gained solid ground as the low and high of the year are between 13- $1,118. Perhaps, the OP bought it around the low of $13, what do you expect? Should people be as daring as such a favoured buyer? I don't think so.

In every investment, there are times to buy and times to sell, I don't believe in a blind investment. Who knows if the OP has a very good external means of livelihood, I doubt if someone that solely relies on BTC for livelihood would do that.

For example, I HODL, trade and use BTC for payments every time. I earn almost every day with my trading, which is what I believe is more important to maximize the benefits of BTC than HODL alone.

RockBell

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Quote from: Fullcoinese on November 17, 2022, 01:56:17 AM

Quote from: RockBell on November 17, 2022, 01:20:02 AM

The goal right now is to HODL. Buying at 60000 and selling now is not a good business strategy. Bitcoin is not for the faint of heart. The majority are already panicking even after what happened to FTX. The op said that 1 bitcoin equals 1 bitcoin, which is not a bad mental strategy. Most of the time, I just avoid repeatedly checking the market to keep my cool. And another important thing let’s avoid leaving our funds in an exchange due to not your keys not your coin.

meaning you don't need to look at the value of assets when we start long-term investment planning. we only need to know that the assets we have will remain in nominal BTC. and we will adjust the price to our target in the future.
sometimes we are not calm in market conditions when influential people deliberately release opinions and rumors to move the market.
many people panicked, but many stayed true to their original plan.

Every one has their own way of managing their emotions during bear markets, not completely avoiding the market have price notifications, once the price starts going up it will not go on silent it will trend every where, you develop what you feel is best for you, definitely if it is about people infucing the market like Elon e.t.c I will still know this is the twenty-first century even the channels on TVs will carry the news.

Fullcoinese

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Quote from: RockBell on November 17, 2022, 01:20:02 AM

The goal right now is to HODL. Buying at 60000 and selling now is not a good business strategy. Bitcoin is not for the faint of heart. The majority are already panicking even after what happened to FTX. The op said that 1 bitcoin equals 1 bitcoin, which is not a bad mental strategy. Most of the time, I just avoid repeatedly checking the market to keep my cool. And another important thing let’s avoid leaving our funds in an exchange due to not your keys not your coin.

meaning you don't need to look at the value of assets when we start long-term investment planning. we only need to know that the assets we have will remain in nominal BTC. and we will adjust the price to our target in the future.
sometimes we are not calm in market conditions when influential people deliberately release opinions and rumors to move the market.
many people panicked, but many stayed true to their original plan.

Henrobakkara

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Quote from: virtualdn on November 09, 2022, 05:34:05 PM

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.

Never said someone who sold at 60k is a chicken. The market was at the top. I haven't sold at 60k because I know BTC's value. If it gets back to 60k I still won't be selling.

60k is pennies if you see the whole picture. But only a few see the whole picture. In the future owning 1 single bitcoin will be huge. But it won't be available for everyone.

Someone who is selling today is a big chicken if you ask me. The ones who sell when the crypto market is down.

I don't suppose both of your opinions are wrong. Those that were able to see where Bitcoin is headed early on would have invested and just Hodl for "Ever" and some will invest a certain amount and continue to recycle that investment and increase or accumulate their Bitcoin Hodling however, those that will sell in every little dip from any kind of negative news has no believe in Bitcoin in the first place.

RockBell

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The goal right now is to HODL. Buying at 60000 and selling now is not a good business strategy. Bitcoin is not for the faint of heart. The majority are already panicking even after what happened to FTX. The op said that 1 bitcoin equals 1 bitcoin, which is not a bad mental strategy. Most of the time, I just avoid repeatedly checking the market to keep my cool. And another important thing let’s avoid leaving our funds in an exchange due to not your keys not your coin.

Kakmakr

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You know that Lions eat Chickens ...right? Well, this is exactly what is happening now, because the Chickens are being eaten by the strong hands ...and they are getting cheaper bitcoins for their reward.

A lot of trigger happy speculators has entered the Crypto currency scene and they will panic at the slightest sign of trouble. They are used to the stability of Forex markets and when they see a 30% drop in the price of Crypto currencies.... they run for the hills. Grin

adzino

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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.

Don't call them "chickens". I bet if you hold a lot of coins and start hearing about all the problems and disasters taking place in the crypto market, you would turn into a chicken too. It is not a bad thing to be a chicken. Most of those people that you are calling chicken are probably shorting their investment. When they saw what happened to FTX, they sold because they know that the market is going to crash. And guess, what those chickens were right. The market crash, they probably brought what they sold for cheap and now holding a larger bag. Don't let people make you a fool. They will tell you to hold while they sell their coins.

I am not encouraging you to sell. Just letting you know that not everyone sells because they are a chicken. If you want to sell, sell. Don't be scared or don't let people stop you from selling.

Topic: Too many chickens own BTC. Don't be a chicken, HODL! BE A LION. - page 3. (Read 1054 times)