Too many chickens own BTC. Don't be a chicken, HODL! BE A LION. - page 5.

serjent05

legendary

Activity: 3010

Merit: 1280

Get $2100 deposit bonuses & 60 FS

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.

It has been an issue ever since but the market cannot rid of them. It is normal for a market to have people who are has weak hands. They don't sell when in profit but immediately sell when the price started to plummet and their holdings at a negative valuation.

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

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.

Good for you! I hope I have the luxury of holding Bitcoin for eternity but I always end up selling BTC when it hits my target price and rebuying when it crashes.

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

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

Same here, lol

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.

True we don't need to calculate anything, it is clearer than purified water that 1 BTC = 1 BTC

Ultegra134

hero member

Activity: 1750

Merit: 904

Quote from: Lucius on November 10, 2022, 09:40:51 AM

Quote from: Ultegra134 on November 09, 2022, 06:44:35 PM

Okay, right. I get your point now. However, from my point of view, for how long will someone be able to hold on? Don't we have to cash out and convert to fiat at some point? I'm confident that Bitcoin will be worth more than $70.000 again in the coming years, and I'm willing to hold until then. However, I find it sensible to sell after overcoming the bear market. There are no guarantees that Bitcoin will keep rising to infinity, and honestly, what's the point of holding it and never selling it?

I think that the OP does not want to sell at a price lower than $100k per BTC and that is completely understandable to me, just as your thinking that it would be wise to sell at ATH and then buy when something bad is happening like now. Both strategies make sense, but if you sell, you have to pay taxes and be patient until the right moment, and many simply don't want that. Regarding the fact that we have to sell BTC at some point, there may still be an option not to do it if payment with BTC will become quite common in the years to come.

Of course there is no guarantee that Bitcoin will exist in 5 or 10 years, but will there be a euro or some other currency? If you had to bet which will disappear first, euro or BTC, which would you choose?

Well, that's my point; as the OP stated in his next reply, he's not planning to stop at $10,000 either, and that's perfectly understandable. The way I see it is different, I guess. Supposing BTC surpasses $100k, then what happens? We wait until it reaches $120k, then $150k, and so on. My point is that by doing it this way, we're simply setting an unlimited goal by constantly setting new records. Our portfolio value would be increasing, but if it's not cashed out, not necessarily into a fiat currency, it won't matter too much.

Certainly, we don't know when and if that happens (I believe that it will in the next few years), and our actions may vary under different circumstances. Little by little, I'm accumulating a small amount of BTC per month, and one thing is certain: the future will be interesting.

DeathAngel

legendary

Activity: 3304

Merit: 1617

#1 VIP Crypto Casino

It happens every bear market, something catastrophic happens in ‘crypto’ space & all the weak hands capitulate. It’s quite embarrassing really but that is human psychology for you. Lots of people have weak mentality.

I always do the opposite of what these people do. Buy when we are experiencing perceived bad times. Sell during bull markets.

Simple.

Hamza2424

legendary

Activity: 966

Merit: 1042

#SWGT CERTIK Audited

Haha nice motivational lines dear op please try to understand chickens want to be the spicy hot wings. I think no body like lions but everyone do like hot wings so enjoy. As I am not sure how much time market is going to take to break 18K resistance now and then 20k resistance just hope for good that what chickens and lions can do.

ajiz138

hero member

Activity: 1498

Merit: 785

Look at 1 BTC = 1 BTC not 1 BTC = $$$$

Buying Dips is the best time now with the word HODL keep doing this until I have a lot of bitcoins in my bag this will be a valuable stack in the future.

Watch the news now full of drama even though I pay attention to it but I won't panic too much, stay HODL for an indefinite time and keep buying while there is still a chance at cheap prices.

We will be lions to the HODL and we will be kings as bitcoin holders.

gantez

full member

Activity: 1736

Merit: 121

Quote from: virtualdn on November 10, 2022, 09:20:33 AM

Be a lion. Have the mentality of a lion, not the one of a chicken. Come back to this thread in 10 years and tell me I was wrong. Better fail as a lion than run as a chicken. This is my mentality folks, hope many of you think the same.

You never sold since 2013 and you hodl when bitcoin touch $20,000 in 2017, you didn't sell any and bitcoin reached the ATH of $64,000 you didn't sell, why? Answer is maybe you are waiting for price to drop back to $10,000 and you buy to wait for the price getting to $100k lol. Do you know you are the big chicken when you have missed all the Lamborghini through your way by not selling since 2013. I wonder how much you have lost while you are chicken feeding Grin

. I don't believe your story Roll Eyes

teosanru

hero member

Activity: 2114

Merit: 619

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.

This is actually good only if you know. As most of the people will exit which we also call the weak hands in crypto will exit the market. This is good only as these weak hands will provide liquidity for the big vc investors who will actually accumulate in this bear phase and convert this into bull run. These chickens will once again enter the market when the market will roam around all time high.

examplens

legendary

Activity: 3472

Merit: 3507

Crypto Swap Exchange

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.

you should revise the title a bit, for example "Don't be a chicken, send your BTC to FTX exchange! BE A LION."
Why is everyone urged to advise others on what to do with their money?

Quote

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

the fact that someone has not heard of FTX, does not mean that the problem does not occur. who's HODL on FTX exchange, it is understandable that he panics in proportion to how much value there.
with the current drama surrounding FTX, it is more of a problem that similar things happen often. From Mt.Gox through Celsius to FTX right now.

freedomgo

legendary

Activity: 3248

Merit: 1160

Playbet.io - Crypto Casino and Sportsbook

Quote from: virtualdn on November 10, 2022, 09:20:33 AM

Be a lion. Have the mentality of a lion, not the one of a chicken. Come back to this thread in 10 years and tell me I was wrong. Better fail as a lion than run as a chicken. This is my mentality folks, hope many of you think the same.

Safe to say that those who chickened-out are now mad of the choices they made and already regretting for keeping the coins for quite some time just to sold it at a much cheaper price than the price when they bought it. They are just too unfortunate that they forgot the reason why they bought it at the first place, now that the halving is approaching, we might see another ATH.

Anyway, thanks again for the reminder amidst the situation we currently have. HODL!

virtualdn

legendary

Activity: 1358

Merit: 1093

Quote from: Lucius on November 10, 2022, 09:40:51 AM

Quote from: Ultegra134 on November 09, 2022, 06:44:35 PM

Okay, right. I get your point now. However, from my point of view, for how long will someone be able to hold on? Don't we have to cash out and convert to fiat at some point? I'm confident that Bitcoin will be worth more than $70.000 again in the coming years, and I'm willing to hold until then. However, I find it sensible to sell after overcoming the bear market. There are no guarantees that Bitcoin will keep rising to infinity, and honestly, what's the point of holding it and never selling it?

I think that the OP does not want to sell at a price lower than $100k per BTC and that is completely understandable to me, just as your thinking that it would be wise to sell at ATH and then buy when something bad is happening like now. Both strategies make sense, but if you sell, you have to pay taxes and be patient until the right moment, and many simply don't want that. Regarding the fact that we have to sell BTC at some point, there may still be an option not to do it if payment with BTC will become quite common in the years to come.

Of course there is no guarantee that Bitcoin will exist in 5 or 10 years, but will there be a euro or some other currency? If you had to bet which will disappear first, euro or BTC, which would you choose?

I won't be selling at 100k also. This is a psychological price and many will sell. To me the BTC value is infinite, will probably sell something around the 200k but again, it will still be low for its potential. My advice is: if you sell something, plan to buy it back.

I'm not keeping BTC to get rich. I'm keeping it to prosper. It's good to always have BTC and never sell all your coins. It's probably the only thing that will help me fulfill my material dreams unless I will win the lottery (most likely not but hey, who knows, I may have a double win lol).

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: Ultegra134 on November 09, 2022, 06:44:35 PM

Okay, right. I get your point now. However, from my point of view, for how long will someone be able to hold on? Don't we have to cash out and convert to fiat at some point? I'm confident that Bitcoin will be worth more than $70.000 again in the coming years, and I'm willing to hold until then. However, I find it sensible to sell after overcoming the bear market. There are no guarantees that Bitcoin will keep rising to infinity, and honestly, what's the point of holding it and never selling it?

I think that the OP does not want to sell at a price lower than $100k per BTC and that is completely understandable to me, just as your thinking that it would be wise to sell at ATH and then buy when something bad is happening like now. Both strategies make sense, but if you sell, you have to pay taxes and be patient until the right moment, and many simply don't want that. Regarding the fact that we have to sell BTC at some point, there may still be an option not to do it if payment with BTC will become quite common in the years to come.

Of course there is no guarantee that Bitcoin will exist in 5 or 10 years, but will there be a euro or some other currency? If you had to bet which will disappear first, euro or BTC, which would you choose?

virtualdn

legendary

Activity: 1358

Merit: 1093

Be a lion. Have the mentality of a lion, not the one of a chicken. Come back to this thread in 10 years and tell me I was wrong. Better fail as a lion than run as a chicken. This is my mentality folks, hope many of you think the same.

indah rezqi

hero member

Activity: 1512

Merit: 874

Quote from: Nrcewker on November 10, 2022, 04:54:26 AM

People starts to panic and criticise Bitcoins when the price falls down.

Mostly because they don't know how the market works and they are likely not very experienced users in this invest.

Quote from: Nrcewker on November 10, 2022, 04:54:26 AM

Now the same people when BTC grows will comment their historic moments about holding Bitcoins. They don’t know that we are the ones for which the market is moving. At last think practically how BTC is working. Bitcoins are limited in number like Petroleum for example. So when the time passes it will become more valuable and hence the price will increase in order to meet the demands. So in this bear market never sell your BTC, just hold for a little longer and enjoy profits later.

Every price movement will get people's attention to comment either on the good side or the bad side. Volatility is basically unavoidable as bitcoin is not a stable asset, so if they understand this well then obviously I think they will have a good psychology about the market.

Nrcewker

copper member

Activity: 2268

Merit: 539

DGbet.fun - Crypto Sportsbook

People starts to panic and criticise Bitcoins when the price falls down. Now the same people when BTC grows will comment their historic moments about holding Bitcoins. They don’t know that we are the ones for which the market is moving. At last think practically how BTC is working. Bitcoins are limited in number like Petroleum for example. So when the time passes it will become more valuable and hence the price will increase in order to meet the demands. So in this bear market never sell your BTC, just hold for a little longer and enjoy profits later.

skarais

legendary

Activity: 2464

Merit: 2094

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

1 BTC = 1 BTC.

This is basically a true fact, but in practice the most profitable investors are those who are able to take profits and enjoy them. Sometimes we have to enjoy it even though we have to think about a better future. But the name of the future, it's something that can never be guaranteed to be achieved and enjoyed.

Becoming a holder is a choice, so it will be different for each of us. So I never think people who sold their bitcoin at $60K last year are the ones who lose the most today while those who still think 1 btc = 1 btc are the most profitable in the future.

bittraffic

hero member

Activity: 3038

Merit: 617

The market dump is scary. The more they'd be afraid if they know nothing about the crypto market and for all we know, they were just hoping to win a hundred USD and get out of the market but if the market crashed, they'd panic.

But the knowledgeable are the ones the first to actually dump particularly those who can predict the price will go down. Those are not chickens but wolves.

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

Those chicken you described are probably losing a lot of money now. While the btc og and knows the real game are just relaxing buying cheap price. Yes this FTX affect a lot of crypto community, well what do we expect from a bad news right. But this is also served for others as opportunity to grow their portfolio. I dont think we can see this kind of prices once the bull market started to outperformed this inflation and crypto firm insolvency.

lovesmayfamilis

legendary

Activity: 2072

Merit: 4265

✿♥‿♥✿

Quote from: LegendaryK on November 09, 2022, 07:51:27 PM

1st Rule of Investing
Past Performance is no guarantee of Future Profits!

Where as in the Past, the Baby Boomers have been providing Massive Venture Capital to any moron with an idea.
Baby Boomers are now converting to safer investments ie: US $, as they retire.

The giant sucking noise in the Markets, is those retiring Baby Boomers leaving (since late 2021.)
All that free venture capital that was propping up all of the Proof of Waste mining operations,
is disappearing faster than a magic act.

So the real question, is how many of you are going to be alive in 2040 when Venture Capital Investment is again at maximum levels.
Not to mention the Proof of Waste Ban warnings from US & Canada & Europe much much sooner. Tongue

Good point of view. How much can people deprive themselves of by expecting a high price of bitcoin? I always want to ask such people: “How many years of life have you measured out for yourself?” It is necessary to live life in youth, when you want everything at once, and to get rich in old age when there are no former strengths and desires, I do not see much joy in this.
Bitcoin is rising; if you see profit, withdraw; don't be a fan. Of course, a pillow in old age will not hurt, but who knows if someone will have old age and whether it is worth limiting life now?

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

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

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

Just for those who are wondering: the reason why a lot of people don't know about FTX despite it being a huge exchange, is that FTX's user demographic are mostly akin actual traders who know what they're doing — compared to the typical Binance user which is a lot more "retail-y"(for a lack of a better word).

Apocollapse

hero member

Activity: 1148

Merit: 796

Quote from: LegendaryK on November 09, 2022, 07:51:27 PM

1st Rule of Investing
Past Performance is no guarantee of Future Profits!

Indeed past doesn't guarantee the future, but if the coin has a strong fundamental, it wouldn't become dead coin during bear season!

Bitcoin is the only one Bitcoin who have fundamental, any other coins or tokens doesn't have any fundamental since it's full of pump and dump scheme or manipulation. This is why investing Bitcoin on bear market is the best choice since there's a high chance Bitcoin would break new ATH after the market start to recover.

Topic: Too many chickens own BTC. Don't be a chicken, HODL! BE A LION. - page 5. (Read 1054 times)