Quote from: Agbamoni on Today at 06:55:28 PM

Quote from: JayJuanGee on Today at 04:43:06 PM

Quote from: Hewlet on Today at 04:23:55 PM

Maybe the term HODL should be written in full with it explanation attached to it always. It means hold on to dear life I had to emphasise the dear life so people will know that they shouldn't just expect a return overnight.

That is bullshit.

HODL does not mean "hold on for dear life"

That was some no coiner gambler who came up with that characterization of HODL in order to wrongly imply some level of gambling and/or panic/stress that a HODLer needs to have.

There are ways to set up your BTC investment strategies so that you do not need to fear prices, and if prices go down you get more sats for the amount of dollars that you are using to buy them.. so whether you buy on the dip or you DCA, you should well consider that if you start to run out of money and the BTC price is going down, then you may well need to HODL in those circumstances. .at least until you get more money, then at that point you might choose to buy some more bitcoin with your new cashflow.

There also might be some other times that you choose to HODL on the way up, and surely those are personal choices in regards to how much BTC that you might have had already accumulated, and there could be some stress in terms of trying to decide what to do, even if the BTC price might be going up.

Panic can come at various points in time if you have not set forth some kind of reasonable plan and attempted to mostly follow the plan even when there might come about some circumstances that had been previously unexpected, but if you have an overall solid plan, you should be able to figure out some kind of a reasonable approach to what to do in regards to your BTC, even if you had not completely planned for the situation that is being experienced that might end up going beyond expectations. HODL.. is one of the potential solutions, but it is not the ONLY solution, so when and how HODL might be applied may well differ from person to person, but hopefully we are not getting ourself into emotional states that are too far gone that we start to believe that HODL itself is a kind of an emotional state rather than a decision that is within one of our plan options.

Long term HODL should also not be too emotional, even though maybe there should be some decently good feelings if you may have built up your BTC position to such a status that it is giving you more options, even if you might not be choosing to exercise your options, but sometimes when we have a decently sized BTC stash, we might well feel free to either accumulate large amounts of cash or even to invest into some other kinds of assets with our incoming cashflow because we have largely already established our BTC position. .and we choose to mostly and perhaps not exclusively HODL it.

By the way, the timeline of NOT expecting quick returns may well likely help to establish that the first few years in bitcoin might be the most difficult while building up a bitcoin stash, and surely there are going to be some members who take a couple of cycles to build up their BTC stash. .and there is nothing wrong with that - especially considering that sometimes we may well have difficulties to either increase our income or to decrease our expenses in order that we might be able to buy more bitcoin, so we just have to figure out a level of purchase that is suitable for us.. and that there may be a lot of holding time that accompanies the building of a BTC stack.. including establishing ways to secure our stash through our own self-custody, even if we might not start out with self-custody until we learn some of the available options and figure out which options might be suitable to our own situations.

Thanks for being so explanatory to Hewlet. Although i did not see where you mentioned or stated the full meaning of HODL "Hold on For Dear Life," I was curious to hear what you will say it is as i have my own meaning which is as simple as HOLD LONG.

I think that I already addressed the question in the first few sentences of my earlier post.

>>>>>"That is bullshit.

HODL does not mean "hold on for dear life"

That was some no coiner gambler who came up with that characterization of HODL in order to wrongly imply some level of gambling and/or panic/stress that a HODLer needs to have."<<<<<<<

And, I went on to say more in response to the whole idea, attempted to put the idea of HODL into various contexts regarding when it might apply in response to some of what Hewlet had said about HODL.

Quote from: Agbamoni on Today at 06:55:28 PM

HODL became the epitome of an investment approach to Bitcoin that avoids trading based on short-term price movements and gains.

Sure. That is a reasonable interpretation.

Quote from: Agbamoni on Today at 06:55:28 PM

This approach reflects inexperienced traders are likely to screw up their attempts to time the market and lose money or make less than those who simply hold their coins.

That's true, but I also am a BIG advocate of continuing to accumulate BTC, but sure there may well be sometimes when you are out of money or that you need your money for other things, so in that case it may well be better to HODL rather than selling your bitcoin, and if you are not in a position to buy then so be it.. just wait out the period until you might later be in a position to buy.

Sometimes a guy may have over accumulated BTC, so sometimes in those cases, it might be better to just HODL through some rough periods in BTC's price movement.

Let's say that in mid-to-late 2020, someone had an overall investment portfolio of $100k, but that person did not have any BTC, so starting on around September 1, 2020, that person started to fairly aggressively buy BTC with about $120 to $220 per week, depending on cashflow and other circumstances, and maybe their budget should have had been that they ONLY should be buying around 10% to maybe 15% of BTC over the next year or two, but it ended up that by late August 2023, the person had accumulated a whole bitcoin, and maybe mistakes were made too so that the cost for getting that whole bitcoin was right around $30k...

so the person is feeling pretty good about having had accumulated a whole bitcoin in three years, but feeling pretty bad because s/he had invested way more than expected into bitcoin as compared to the rest of his her investment portfolio, and so s/he is starting to feel that his/her obsession to get a whole bitcoin had created some financial and psychological problems.. but the severity of the problems were still in some kind of a manageable range, and so the person needed to create a plan for going forward.

Maybe over the past three years, the total investment portfolio went up a bit in value and currently, the investment portfolio is $150k to $158k ($120k non-bitcoin investments and $30k bitcoin ($35k to $38k in bitcoin based on recent BTC prices)).. so in the past several months, the person still feels way overinvested in bitcoin, so in recent times is just HODLing his/her bitcoin and not buying any more and not selling any either, but considering that maybe later, s/he might decide to continue with BTC investing, but at this moment s/he believes that s/he is a bit overexposed to bitcoin, even though the current BTC holdings are in profits, but s/he does not want to sell any bitcoin until it is at least more than 2x to 3x in profits, and even if s/he starts to sell BTC at something like a $60k to $90k prices, the projected amount sold would likely end up being just fractions of the valued of his/her BTC holdings, so largely the person may well be thinking that s/he might not want to accumulate any more BTC until some point later down the road.. either after the BTC has gone into the $60k to $90k territory or maybe if the BTC price were to drop below $24k, then maybe there is some fund that is being built up to buy BTC just in case that might happen.. but other than that, the plan is to just HODL through the various BTC prices between $24k and $60k unless something ends up changing in his/her overall situation..including another scenario in which s/he might invest in the non-bitcoin portion of his her investment portfolio until perhaps the value of that might go up to above $200k, which might trigger him/her to again rethink if s/he might start to buy BTC again at that time, if such events were to play out.

These might not even be the right decisions for this person, but it is a HODL scenario, and I am not trying to point out any concrete actions that have to happen with such a person, but merely describing a kind of scenario in which a BTC accumulator might decide to outline some scenarios to just HODL through such BTC prices between $24k and $60k.. and or if the BTC price does not break out of that price range in the next 6 months, in one direction or another, then a reassessment might be due to take place in April 2024..

Since about early September 2023, this same person was putting around $150 to $200 per week into a separate fund in order to be able to have money built up to either buy more BTC on the dip later on or to buy BTC at various points that such buying might be triggered, but for now, there is a bit of stress that needs to be resolved in terms of having had invested about 50% more into BTC as s/he had wanted to invest into BTC.. so there is a period of time in which that might need to resolve.

Another thing that this hypothetical person could do is to reduce his DCA by half.. so instead of buying between $120 and $220 per week of BTC, s/he might to start to feel more comfortable with buying between $90 and $120 per week, especially if s/he had been allowing the cash build up since the beginning of September, then s/he might have around $2k that has built up in his/her cash fund and maybe part could be dedicated towards buying on dips and the other part could continue with DCA, even though s/he is still feeling somewhat overallocated into BTC.

Quote from: Agbamoni on Today at 06:55:28 PM

The HODLers only are interested in just a particular thing, which is to eliminate the emotional states that come with investing.

Well if you perceive that you have enough BTC, then HODL might be amongst the best of the ways forward.

Quote from: Agbamoni on Today at 06:55:28 PM

These states are popularly known to be FOMO (fear of missing out) FUD (fear of uncertainty and doubt). These fears have led to so many investors to have sell their Bitcoin at a lower value, resulting in losses or reduced profits for investors in the long run.

Ongoing buying of BTC within a kind of budget and also creating scenarios to buy or to sell BTC can surely help to deal with feelings of FOMO..and sometimes people will feel FOMO because they ended up being way too whimpy in their level of BTC investment... so if we take the above guy and if he had invested only half of the amount that he planned around $15k rather than $30k into BTC over the past three years, he might have felt anxious about our recent move from $27k to $38k in that he did not buy enough BTC, but since he had already decided that he had overspent on BTC, he was largely just letting his cash reserves build up and not necessarily going to FOMO into BTC, even though surely any newbie can get into a FOMO situation because of the euphoria of BTC price pumps... but I still think that the FOMO is worse for the whimpy investors as compared to the relatively (and hopefully reasonably) aggressive investors..