Post
Topic
Board Economics
Re: How do you work toward hodling bitcoin?
by
Lucius
on 16/11/2023, 10:25:40 UTC
~snip~
Even if someone has an income exclusively in BTC and that is his only income, does that prevent him from saving at least 5-10% of that BTC every month?
No it doesn't stop them, if they don't intend on building or expanding their business. As with the speedy growth of bitcoin, to me, it's not proper to let it slide without holding on the opportunity, which we are sure that bitcoin brings to those who hold. That's why we read and write about it, hence trying different ways of getting this right is also important. I do not regret investing bitcoin to the growth of my online business; blowing it up on ads. It's always difficult to save much when investing or building a business, which you believe would yield you more bitcoin in future. And also fetch you profits through bitcoin.

In that case, you are in a dilemma as to what brings you more profit - investing the Bitcoin you earn or just holding? Let's take an example if you invested in Bitcoin about 1 year ago when the price was just above $15 000 and if you didn't do anything with that BTC from then until today, you would have more than 100% profit in a very short period of time.

The question arises whether you could have earned more in that period if you had invested the same BTC in your business? Of course, the price of Bitcoin is volatile, but it still somewhat follows a four-year cycle, and those who invested following that pattern were already able to profit very nicely, and if they are patient, they could profit much more.

If we were to go back even further into the past, those who invested in BTC before the great bull run of 2017, and sold during the next bull run, certainly earned as much money as they would not have earned in their entire lives, unless they were among those rare people who they have revolutionary ideas and know how to monetize them.