Quote from: letyouearn on November 28, 2019, 11:57:34 PM

Quote from: Bitbtc8 on August 11, 2019, 02:05:16 PM

Note: This is not about how to identify good coins to HODL
This is about how you can be a good long term holder

1. You must have another source of income
Either in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.

2. Not all altcoins are good for long term holding
Some altcoins are too weak to have better value overtime,these coins only add value to price once in a blue moon,WHY?because the power of demand is too low and they have no working product,i belief that working product is what makes a coin have many more investors

3.HODL Only Altcoins With Real Use Case
There are different categories of coins with use cases,many use case are weak use case,for example using fashion designer to back a token is a weak use case to me because it means you can only use the token to buy the designer wears and many will call this a real use case? no it wont do very well.
Make sure that the real use case of every altcoins you hold will be very reasonable,the products backing them up must be something that is different and will catch the eye of investors,the usefulness must be outstanding .

4. Stay Updated Always
Opportunity comes but once as many know it,so always stay updated about crypto,read crypto news online and keep tracks on your altcoins so that you wont miss future updated or even token swaps,some altcoins i hold have already switched to MainNet and im glad i dont missed the opportunity,you can use blockfolio app to track your altcoins.

Altcoin season is what many are waiting for,even new projects are waiting for altcoin season to return before they get listed on exchanges,im sure of one thing and that is good things dont come easily,today is bitcoin turn to reign and one day altcoins will have its day as well.

Well, I would argue with this:

3.HODL Only Altcoins With Real Use Case

This is not always necessary in my opinion. But it depends on how you define this use case of course. Some big guys use DOGE for playing with hamsters. Is this a good use case?

I will probably argue against the concept of holding altcoins for the long term, altcoins are there to speculate with them and nothing more, you should not hold them and at the first sign that may indicate that you are about to lose money then you should get rid of them, you do not want the same to happen to you that happened to all of those people that invested in altcoins at the end of the year of 2017 and then lose everything that you have just because you were too stubborn to sell your coins.