Transferring of wealth from the impatient to the patient! - page 6.

cluit

legendary

Activity: 1176

Merit: 1016

Quote from: spongegar on November 13, 2018, 12:52:39 AM

Thanks for the advise, but i really don't think it is just buying and holding. We should really look into Crypto currency used as a well currency. To circulate in the market and not just rot inside our virtual wallets. Have use for it to buy stuff and render services. This will help it in the long run rather than just buying coins you don't use at all.

That is the thing! A lot of people are so much concentrated on the fact that crypto is more of an asset than a currency and I really will not doubt that, considering the fact that even if you want to spend today, there is no much avenue for that yet.

However, I believe this is something that would change over time, a time will most definitely come when we would have seen the level of adoption grown hugely, volatility has reduced to some extent across board, payment system has been made easy when it comes to using cryptocurrency as a payment platform and in that case, at the same time, the same impatient people who keep selling at loss out of panic and impatience will still regret it eventually.

Sarastiche

member

Activity: 532

Merit: 10

BITCOIN IS THE CURRENCY OF THE GLOBE

The cryptocurrency space is still an evolving platform, to earn you must be patient to have access, to the wealth of this age, do not invest and expect an instant return on investment, several project in the space are just on the developmental phase of there project.

aris av

copper member

Activity: 409

Merit: 1

The Standard Protocol - Solving Inflation

Yes, it becomes a way to profit from crypto by buying and holding and selling when prices rise. But the market is difficult to predict, so when the price is higher than the purchase price, I let go of selling.

brooklynian

member

Activity: 392

Merit: 10

You are very correct. Impatience is the major issue here and it is the line between failure and success in the cryptocurrency space. The patient ones are mopping up cryptocurrency from the impatient who often sell their coins at the sound of any negative news. In future, the patient ones will have a good success story while the impatient will be in regrets.

spongegar

full member

Activity: 476

Merit: 100

Thanks for the advise, but i really don't think it is just buying and holding. We should really look into Crypto currency used as a well currency. To circulate in the market and not just rot inside our virtual wallets. Have use for it to buy stuff and render services. This will help it in the long run rather than just buying coins you don't use at all.

Akoldi_ibk

jr. member

Activity: 1050

Merit: 1

Quote from: arpon11 on October 16, 2018, 01:44:39 PM

I will like to say the plain truth about what I have think laid ahead of us as an investors, traders and speculators on cryptocurrencies market. Many of us that know about cryptocurrencies and bitcoin since 2010 and 2011 and did not see any reason to buy and hold till 2017 before selling will testify that impatient is the reason why they are not millionaire in the local currency.
in cryptocurrencies market we are witnessing transfer of wealth and this transfer is been done through creating a system that make some group of people selling their holding because of the fear of what the future hold. The wise one are buying and hold for 2 to 3 years before thinking to sell.
if you want to be a future millionaire and billionaire? then think on how important it is for you to keep holding and patient with the market and in 2 to 3 years to come if you will not be in money, this money always come from the impatient one.
Goodluck to you friend.

I quite agree with you that being impatient can make one to lose or not profit as much. But can we really blame the impatient who is satisfied with his/her profit or the patient one who is holding big bag of shitcoins? Being patient and discipline is crucial in this kind of market, however one must wait with common sense.

futile-resistance

hero member

Activity: 840

Merit: 516

Quote from: arpon11 on October 16, 2018, 01:44:39 PM

I will like to say the plain truth about what I have think laid ahead of us as an investors, traders and speculators on cryptocurrencies market. Many of us that know about cryptocurrencies and bitcoin since 2010 and 2011 and did not see any reason to buy and hold till 2017 before selling will testify that impatient is the reason why they are not millionaire in the local currency.
in cryptocurrencies market we are witnessing transfer of wealth and this transfer is been done through creating a system that make some group of people selling their holding because of the fear of what the future hold. The wise one are buying and hold for 2 to 3 years before thinking to sell.
if you want to be a future millionaire and billionaire? then think on how important it is for you to keep holding and patient with the market and in 2 to 3 years to come if you will not be in money, this money always come from the impatient one.
Goodluck to you friend.

Just because there are a few poor people that managed to get rich through cryptocurrency doesn’t mean that it is actually transferring wealth from the rich to poor. It’s possible that it can be from the poor to another poor, making he or she better than the other cause, well, luck is on their side and wasn’t for the other person. Why I’m saying this is because some of these rich guys has the key to control this market, so how is it going to move against?

geopolisch

hero member

Activity: 1022

Merit: 511

Quote from: jrrsparkles on October 22, 2018, 04:00:53 AM

Quote from: Indrawan77 on October 19, 2018, 05:32:21 AM

I agree that you need huge patience with crypto, crypto just start to grow so we can't expect something big could happen in instance, the growth also not that stable uet, but I do see a lot of potential and easiness that crypto could provide if its being mass adopted, and now we are in the process of fighting with regulation, if we can cope or win with the regulation then we can see huge rising of crypto value

It is not a pure form of investment so we can't expect this to be an invetment for forever because when the cryptos were adopted by mass people then the prices will be stable so chances of making money with stable prices are hard and people also will look for some other investments.

Whether as an investment or not, one thing is certain, a time will come when there would be real life usage and the chances of seeing some level of stability will be there but obviously it cannot be completely stable.

However, we know that even in the long run, this space will really be serving a whole lot as a store of value most of the time, and in that case it would not change it from being much of an asset like gold and the likes, but the thing is that with real life usage, it even makes things a whole lot better. Those who are not patient now to focus on the future will most definitely have themselves to blame for it, there is no doubt about that.

bitcoinrays

full member

Activity: 438

Merit: 104

Quote from: arbifahrozy on October 23, 2018, 03:15:31 AM

I think it is reasonable if there is someone who is impatient with the fluctuations in the crypto market currently buying and selling due to the many positive and negative issues. for those who have more money and invest like buying bitcoin and being held for 2 to 3 years is a brilliant idea.

Yes, that’s the point exactly. Not everyone can be able to invest their money and hold it for long, cause not everyone is that rich and they are just trying their luck to see if things works for them and any chance they get and price increase they will immediately, or maybe if market shows signs that it will drop, they also withdraw to avoid losing their money. It’s only those with the money that can invest and leave it for years.

cluit

legendary

Activity: 1176

Merit: 1016

Quote from: Altcoins enthusiast on October 22, 2018, 03:58:28 AM

As a cryptocurrencies enthusiast I can authoritatively said that holding is the major ways we can actually make money. The patience one make money from the market and investing into cryptocurrencies now is one way you can became one of the wealthy people in the future.

Unfortunately, if we are to look at the population of holders to those who are actually just here for the quick bucks, there are just very few of the holders, with a lot of the holders even being those who are holding large chunk of it.

Truth be told, a lot of those who are more into the greedy part of things are those who are pretty not doing so well in real life and just looking for quick means to get rich, no form of patience at all to at least, focus on the long term, and that impairs their judgment a whole lot. So at the end, it is just all about the patience and even if you do not have the patience, learning to trade is not something that bad at all.

arbifahrozy

full member

Activity: 896

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$CYBERCASH METAVERSE

I think it is reasonable if there is someone who is impatient with the fluctuations in the crypto market currently buying and selling due to the many positive and negative issues. for those who have more money and invest like buying bitcoin and being held for 2 to 3 years is a brilliant idea.

wozzek23

sr. member

Activity: 1568

Merit: 283

Quote from: arpon11 on October 16, 2018, 01:44:39 PM

I will like to say the plain truth about what I have think laid ahead of us as an investors, traders and speculators on cryptocurrencies market. Many of us that know about cryptocurrencies and bitcoin since 2010 and 2011 and did not see any reason to buy and hold till 2017 before selling will testify that impatient is the reason why they are not millionaire in the local currency.
in cryptocurrencies market we are witnessing transfer of wealth and this transfer is been done through creating a system that make some group of people selling their holding because of the fear of what the future hold. The wise one are buying and hold for 2 to 3 years before thinking to sell.
if you want to be a future millionaire and billionaire? then think on how important it is for you to keep holding and patient with the market and in 2 to 3 years to come if you will not be in money, this money always come from the impatient one.
Goodluck to you friend.

You’re wrong, when you invested doesn’t have anything to do with whether you will make it in cryptocurrency and get rich or not. Take for example, there are people who bought Bitcoin last two years at the price rate of $2000 and cashed out at the price rate of $19000, but some dumb people kept on holding and lost everything.

There are also those that bought at the rate of $15000 and lost more than half of their investment. So when you invested doesn’t matter, you just need to cash out anytime you think is right for you.

Supercrypt

legendary

Activity: 1554

Merit: 1054

Quote from: cluit on October 22, 2018, 03:41:38 AM

they are here because they want to make shit loads of money and at the end, they end up regretting the fact that they never had any long term goals as the case may be. If you are always in haste for something, the chances of never getting to see a better chance will always be there.

I think the impatient started to be right at around 6th month, the price has been around these levels for so long that the impatient decided it doesn't really worth it to wait the bear out. Right now, the market seems so boring that I might as well invested into gold or something and still came out better than this (didn't check it tbh, don't quote me on that) even tho gold has been the slowest rises in the historical sense.

The price went up to $20k which is nice but ever since those days it has never had a proper green market for long time and because of that the impatient people have started to say "it is enough thats it!" and left. I would understand for couple months this could have happened but it has been nearly a year of this and when you are down for over a year it is not easy to be patient.

jrrsparkles

sr. member

Activity: 2436

Merit: 272

Eloncoin.org - Mars, here we come!

Quote from: Indrawan77 on October 19, 2018, 05:32:21 AM

I agree that you need huge patience with crypto, crypto just start to grow so we can't expect something big could happen in instance, the growth also not that stable uet, but I do see a lot of potential and easiness that crypto could provide if its being mass adopted, and now we are in the process of fighting with regulation, if we can cope or win with the regulation then we can see huge rising of crypto value

It is not a pure form of investment so we can't expect this to be an invetment for forever because when the cryptos were adopted by mass people then the prices will be stable so chances of making money with stable prices are hard and people also will look for some other investments.

Altcoins enthusiast

member

Activity: 490

Merit: 17

As a cryptocurrencies enthusiast I can authoritatively said that holding is the major ways we can actually make money. The patience one make money from the market and investing into cryptocurrencies now is one way you can became one of the wealthy people in the future.

cluit

legendary

Activity: 1176

Merit: 1016

Quote from: arpon11 on October 16, 2018, 01:44:39 PM

I will like to say the plain truth about what I have think laid ahead of us as an investors, traders and speculators on cryptocurrencies market. Many of us that know about cryptocurrencies and bitcoin since 2010 and 2011 and did not see any reason to buy and hold till 2017 before selling will testify that impatient is the reason why they are not millionaire in the local currency.
in cryptocurrencies market we are witnessing transfer of wealth and this transfer is been done through creating a system that make some group of people selling their holding because of the fear of what the future hold. The wise one are buying and hold for 2 to 3 years before thinking to sell.
if you want to be a future millionaire and billionaire? then think on how important it is for you to keep holding and patient with the market and in 2 to 3 years to come if you will not be in money, this money always come from the impatient one.
Goodluck to you friend.

Oh of course! Even in real life, when you are so impatient to wait for something, you may just end up missing it in the last minute. Patience is one attribute a lot of investors do not have in this space and that is simply because they never did come into this space for the reason being that they want to be a part of something big in the future.

But they are here because they want to make shit loads of money and at the end, they end up regretting the fact that they never had any long term goals as the case may be. If you are always in haste for something, the chances of never getting to see a better chance will always be there.

maculeth

member

Activity: 714

Merit: 11

BountyMarketCap

if it is not based on knowledge it is difficult to be patient to wait and hold coins for 3 years. but at least from the market that is currently happening and also bitcoin price charts from past years, yes we still have a great opportunity to become billionaires if you want to be patient and hold for several years. even now knowledge should have increased with all the lessons about crypto market in this discussion forum.

coinplus

legendary

Activity: 1386

Merit: 1058

Quote from: Abolaji11 on October 18, 2018, 01:15:11 PM

Holding your coin for a good period of time is important but holding a good coin is more important. But a wish and smart investor will think of selling to rebuy back at a cheaper rate whenever the opportunity present itself.

I would even say the first step to be able to get the best from any investment is knowledge. It is always this knowledge that will guide your decision making and for most part of it, a lot of people who are always in a haste, or very impatient or panic easily are the ones who are just after some means of getting rich fast and they never care to understand what makes the future important, and even if you have to take advantage of some short term movements, you still want to be sure you are doing it right with wisdom.

Being patient is a virtue that comes with the ability to know what you are doing at every certain point in time and that is what is lacking in so many people. When a holder loses his faith on a coin, he get panic and then transferring his wealth to another person who may be another holder but he gets for cheaper prices (by considering current market situation).

As per OP, the current down market conditions trigger the process of transferring wealth from pessimist to new optimists. I am getting this perspective view now only but fortunately I am a long term holder of bitcoin and I never turned as pessimist even at hard times like bitcoin broke $6k levels.

Renaldi blackspadeteam

full member

Activity: 504

Merit: 100

Positive thinking is not prohibited, but if it is excessive it may not be good, in crypto trading no one knows the price prediction that will occur in the next 1 second, but if you buy and sell for 2-3 years it might have a positive impact and negative

bajingluncat

jr. member

Activity: 406

Merit: 2

Seeing the current situation, I began to doubt whether holding and holding bitcoin was still the best choice, uncertainty and lack of collateral made me doubt. Honestly in my heart, I was more certain that bitcoin might have reached the time to have a stable price and main purpose. bitcoin to become a medium of exchange will soon be achieved.

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