I wouldn't have half the money I have now if I didn't "baghold"
i dont think you understand this term..
bagholding means you were left with a large sum of coins after it hit rock bottom.. meaning you didnt sell when you had the chance.. or you bought in too late while it was on the rise and it is now worthless.
the thing with altcoins is after the initial pump and dump of the premine, someone is always left with the large sum of coins they were conned into buying.. the bagholder..
Sometimes bagholders stuck with large sums of worthless coins get lucky when the coin rallies again. After Bitcoin hit its ATH there were posts by people saying that before the rally they considered themselves bagholders of worthless BBQCoins. Luckily for them BBQCoin mooned after Bitcoin and the BBQCoin "bagholders" made a huge profit.
Yeah there's a bunch of coins where I bought in the pump, left with a "bag" , but continued to accumulate and they went back up.
I guess it is just perspective, I think pump and dump people just want people to be "scared" of bagholding so they end up selling out too soon
- while they (p&d) accumulates when the prices are low.
If you are an investor and have researched a coin, and better yet, use it, then bag-holding is what you want to be doing. Though the term bag-holder is meant to refer to someone who got it wrong and is sitting on a useless asset, it is commonly misused on this forum as anyone who is sitting on a large stash of a particular coin. No one knows for certain what coins will succeed or fail, so bag-holder is premature in this sense.
It's just a different mind-set. Both are a lot of work and require a skill-set (to be successful), but some people are wired better for one approach over the other.
I guess that sums it up the best, in my view.
It is work doing mainly averaging out your cost and mathmatically finding the point where you've accumulated enough to offset any downside price or "loss" that you had.
Plus keeping track of the many different coins I'm in and where they are at, it isn't easy!