Quote from: JayJuanGee on Today at 05:45:14 AM

Quote from: Baofeng on June 10, 2023, 11:16:30 PM

Quote from: Wind_FURY on June 10, 2023, 10:28:29 AM

To convince myself to keep HODLing during "testy" market moments is to keep telling myself that the Bitcoins I HODL in cold storage is a kind of time deposit placed in a secret Swiss banking account that cannot be touched until the right moment. That moment is when it's trading in a six digit price valuation+. That's why I don't have the same complaints when fees surge, because as a "secret Swiss banking account", you don't use it to pay for coffee transactions. I believe many of you don't want to be like the Bitcoin Pizza Guy. That was probably the worst trading decision of his life.

Good strategy, I guess we have to sort of re-invent everything on how we are going to see our Bitcoin and why we are holding it for a very long time. Not just for this testy market moments, but perhaps the end game of Bitcoin to us, because we will feel and be affected mentality, so we need to be strong and think outside of the box on how we are going to HODL for a long time.

For me, just take it slow in the beginning, I might set a personal record to hold, let's say short term is 10 weeks. And if I can brutally manage that then I go for 26 weeks, at least half a year and see how it goes to me. Then why not go for 52 weeks? If I can do 26 then maybe another half a week can be done? And that's how I started though. Now if ever I see the market down, I'm not emotionally affected and just like what others do, just continue to accumulate sats in whatever manner we can and we will be good in the end. Grin

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Something is wrong with your strategy since you are just "hoping" that you can hold longer and longer and longer, and so you seem to be doing something wrong.. .like you are gambling.. and you are so nervous to lock in your profits in dollars because you are worried about a correction..

I get the sense that you might be overly investing.. and that is what is causing you to feel so nervous but I doubt that I know enough information.

A solution could be to merely shave off a small amount of your BTC stash at various increments on the way up.. that way you are hedging a bit better for down, yet one of the problems with shaving is then you might become nervous that you sold too much too soon if the BTC price keeps going up.

I think that the punchline should be that you should be able to set forth a plan.. and maybe you just have not invest less and just never sell.. until maybe you reach some kind of goal in which your B TC stash is worth 3-5x your income, then you might rethink your strategy at that time.. so concentrate on merely building and buying and just buying regularly and buying on dips, and then once the value of your BTC gets to a certain price threshold where it constitutes something like 3-5x your annual income (or 3-5x the amount that you need to live for a year), then at that point maybe reconsider if there might be something that you might want to change in your strategy.

Now if BTC is already 3-5X or more of your annual cash needs then maybe you need to set your BTC accumulation goal higher until you achieve that and recall that entry-level fuck you status is around 20-30x your annual cash needs, but there are varying ways to assess what 20-30x is, and you don't necessarily want to valuate BTC on the top price, and likely better to attempt to valuate BTC based on bottom prices, such as 200 week moving average or some other price (or way of valuating it) that you would consider to be a reasonably conservative bottom because no one should be considering themselves to be in entry level fuck you status and failing/refusing to account for the real world.. which includes that bitcoin has always been volatile and one of the most major guarantees of bitcoin price dynamics is that it will continue to be volatile, and not even really knowing for sure in which direction -= even though pretty damned decent odds of trending up, even though no guarantees of that, either.

If one sees bitcoin as his own necessity,just the way we need food to survive,this might give a better understanding on how one can be able to hold for a very long time. What I mean is that when you take bitcoin to become part of your life,you will know that you have to keep you coins with you till old age no matter what significant circumstances that befall bitcoin price,you wouldn't bother because you have seen it that it is part of your life.

Long term bitcoin journey is just like you are building a house from the foundation to finishing. You start by buying a land after that you dig the foundation and block is been laid gradually,sometimes when you are short of cash inflow,you stop building for a while and keep on saving little funds to that when you put it together it can become a reasonable amount to continue to building project,sometimes when you have a huge amount of money,you remove a large part in the building as so on gradually your building is getting higher to roofing. You might end up building a bungalow or if you have the plan of building a bungalow,and getting to roofing,you observe that from your cash inflow you can build a story building. You will just ignore your initial plan of building a bungalow and go on to build a story building. After you have finished the building,you pack in and whatever gets bad in the building,you will amend it and when it is looking old,you can renovate it.

The punchline is that you keep on spending till you pass on to put shelter on your head. This is how to invest on bitcoin should be seen so that you can see it as part of your life,because in future to come bitcoin will be the shelter on your head when bitcoin price hits a huge amount. So let's see bitcoin accumulating and holding for long that we are building for our future to come and don't panic or sell in whatever price bitcoin is.