This thread was created to reinforce the crypto HODL culture!!!
haha, you mean the
bag holder culture of those who lose money?!
that is not at all a good approach my friend. for years bag holders come, give the rest of the market their money, and go out broke and then regret their decisions as they see others become richer and richer because they didn't bag hold....
I really do not know who even started this HODL culture in the first place as I do not see that as any smart investor move, but all the same, everyone sure knows what works for them. Usually, an investor should be able to monitor the trend of the market long term and take advantage of it than bag holding, but as it is, you are not still bag holding anyway as long as you understand the potential of what you are holding and you basically are in it for the long term.
If you want to call it bag hold, I have been holding bitcoin since 2013, and it was just last year when I learned how to trade that I started taking advantage of the trend, but if you really want to call that bag hold though, even for someone who has been holding since then and now, with a bottom at least for now around $6k, I would say it is a bag hold worth it. However, if you at least have some trading idea, it will always be a great help in the long run.
people shouldn't confuse HODL with bag hold. they are completely different things. although there is no official definition for them!
basically hold means when you are making a long term investment. for example if you buy gold, stock, real estate, ... you are making a long term investment and you won't sell it because there is short term fluctuation. and more importantly you do it because you see some potential in the long run. for example you see the stocks of the company you bought has a bright future, or the real estate you bought is in an area that is growing fast.
in case of bitcoin it is because you see the long term potential of this unique decentralized currency with a limited supply. so you make a long term investment and ignore the short term fluctuations. for example in 2013 you bought bitcoin when things were calm around $300 not as a day trader in that one month when it shooted up to $1200. and then you hold those coins bought at $300 instead of trying to sell or buy back,... and enjoy the current 2000% profit in 5 years!
but when it comes to altcoins, people usually buy them because they see a pump instead of actually checking the project to see if it even has a long term potential. that kind of buy and hold is called bag holding and is never going to end well because such pump and dump coins will eventually end up getting dumped and after a couple of them they will die.
that is how graveyard like deadcoins.com is filled!
