Quote from: freebit13 on April 11, 2014, 11:55:00 AM

Quote from: Jutarul on April 11, 2014, 11:39:11 AM

Your post is misleading. There is not one type of HODLer. There are many different reasons to become a "HODLer".

However, I tend to distinguish two kinds of underlying characteristics for strong HODLers:
a) rational
b) irrational

Irrational is mainly driven by greed and speculation, and is usually fueled by the "hope" that bitcoin valuation will be greater in the future. These people are subject to emotional barriers and run the risk of cashing out at the wrong time.

Rational is mainly driven by wealth creation strategies which are mainly based on risk management strategies. E.g. if you have invested $10k in bitcoin in 2011 and have cashed out $10k by now your "investment risk" is zero. Of course this assumes that you do not count your remaining bitcoin position towards your liquid or cash-based assets. Also there are a lot of "rational" investor strategies which do not result in HODLers - it really depends on your underlying investment philosophy. For an example of a rational HODLing strategy read this post: https://bitcointalk.org/index.php?topic=345065.0

Exactly this, not everybody bought in at the top a few months ago. I've already withdrawn my original fiat investment, bought mining hardware, handed out paper wallets to friends and family and I've still got enough coins to put a smile on my face.

It's not a religion, it's just that many of us see and understand the potential that bitcoin has and know that it will continue, regardless of the price on the exchanges and we will continue to support it accordingly.

P.S. Thanks so much for the OP, it has given me an insight into the psychology of a panic seller, I've never quite understood them, but now I see it's probably because they only got in with the prospect of making a quick buck and have no idea about the actual protocol...

I will bookmark this, just in case if things turn ugly. It will be a good testimony about the arrogance of some people on these boards during what might will be called 'the good old days' in the future. If selling without any losses and after thinking about it for days makes me a panic seller, then that's ok. You are entitled to define 'a panic seller' as such.

You call it no religion, yet ironically immediatly start ranting about the 'potential' of Bitcoin. Apparantly you have to be part of the club to see the 'potential' first hand. Many still don't and many probably never will. But I guess that doesn't matter: you've set your mind on this.