Quote from: Gallar on Today at 03:10:22 AM

Quote from: JayJuanGee on December 19, 2023, 11:44:40 PM

[edited out]

That's right, it seems I still don't understand the actual concept of HODLing bitcoin. Because my thinking is still stuck in the four-year bitcoin cycle (halving) and also the bull market. However, in reality, long-term investors in bitcoin, who are HODLing bitcoin, do not seem to necessarily follow this cycle to sell their bitcoin assets. However, the main direction and goal is more towards the more distant future.

There can be accounting difficulties, tax consequences, third-party exposure and also just risk to not knowing when the top is in or knowing when to buy back, and many times we talked in this thread about putting yourself in a mentality in which you are not accumulating BTC and/or not seeing the value of accumulating BTC..

So yeah, you can try to play the waves, and maybe you will end up getting it kind of right.. but you might not, and sure part of the transformation of seeing value in bitcoin is to continue to hold it rather than considering how many hookers, lambo and blow you might get.. if we are referring consumption, or on the other hand if we are referring to investment to consider whether there actually are better places to put your value.

Sure, if you ONLY have bitcoin, then you would be more justified to be diversified into other assets when the bitcoin goes up in value, especially a if you have a lot of bitcoin relative to anything else that you might own...

and maybe you actually do not appreciate the UPward potential for bitcoin that would end up locking you out of being able to get as many bitcoin, if you are not sufficiently and/or adequately prepared... so in that sense, it could be dangerous to trade out of bitcoin, when it is amongst the best and most pristine assets of the world, if not the best.

Quote from: Gallar on Today at 03:10:22 AM

So basically long term bitcoin investors will probably continue buying bitcoin via DCA and HODL for a longer period of time. Apart from that, I was also reminded a little by you that investing in Bitcoin for the long term is not just about looking for profits. However, another important point is to maintain the value of the assets we own so that they are not eroded by inflation.

Almost every asset has the problem of being eroded by inflation, even property and even gold, and part of the reason that gold is subject to the same inflation is because it has many paper forms in which it is difficult to take actual and immediate possession, as can be done with bitcoin, if you have not contracted away your rights to possess your bitcoin by leaving them with a third party custodian.

Quote from: Gallar on Today at 03:10:22 AM

Then talking about my plans to sell bitcoin in the upcoming bull market, you could say I'm not a long-term investor.

It seems "long term" investor would have to be at least a whole cycle, which is 4 years, and most likely even longer than that, but there are some goals not to be overly exclusive in terms of trying to make such definitions... and think about it, if you are just trying to play the wave within any particular cycle, then how could you really be defining yourself as a "long term investor."

Quote from: Gallar on Today at 03:10:22 AM

Because it's true that I bought bitcoin more or less a year ago. So, if for example I sell it in the upcoming bull market (2024-2025), that means I will only HODL bitcoin for approximately 2-3 years. This means that I am not a long-term investor, but a medium-term investor or I could also say a short-term investor.

Whatever you call yourself, you seem to be striving to be successful to play the wave within a cycle.

Quote from: Gallar on Today at 03:10:22 AM

Because after I researched and studied again, it turns out that long-term investors always HODL their assets (bitcoin) for more than five years. So it looks like I have a lot to learn and understand more deeply about this. Because I don't understand the context of HODL bitcoin well.

Another aspect could be to plan to play the cycle with a certain percentage of your BTC stash, perhaps 50%, or less, and then let the other part of your BTC stash ride (in a lon- term investor kind of way), and yeah, if you are tempted by wanting to sell everything, then you might not even want to hold onto half of it, and so no one can really stop you from doing whatever you think is better for yourself and for your situation. .and you can see how well it plays out for you to get into a practice of trading rather than holding, or even getting into a mindset in which you feel that you need to do all or nothing rather than figuring out some kind of incremental way to attempt to build your BTC stash, if that might be what you are ultimately trying to achieve.

Yeah, you might be thinking about bitcoin in terms of its dollar value, so you get nervous about losing dollar value when the BTC price goes into a correction, yet there are still meaningful and even valuable ways to consider modification of your approach so that you might still be able to shave off some of your profits, while letting the other portion ride. Some longer term BTC HODLers got into such HODLing mindset because they had previously gotten burned by selling too much of the BTC stash too soon, and then they either did not know when to get back in after the BTC price dropped, or the BTC price did not end up dropping as they expected, and it became too stressful to be in and out of BTC rather than just choosing a position size that is comfortable and then just making sure to stay in bitcoin, which ends up being more comfortable, especially once you get used to holding bitcoin and also once you figure out a position size (of BTC hodling) that is sufficiently comfortable for you..

Quote from: Publictalk792 on Today at 05:59:56 AM

Like a person who is investing in Bitcoin from 5 to 6 years I am sure he/s will be in profit at this time if he/s using the DCA method and still doing that. Or if he/s will continue for more 5 to 6 years so he/s will be in more profit.

Pretty much every time period is now profitable for any person who had been consistently DCAing, an of course, the longer, the better in terms of BTC accumulation.

Sometimes based on personal circumstances, cash flow circumstances or just getting caught up in the BTC (FOMO) hype, people will end up investing more into BTC (in kind of lump sum ways) at certain times, so there could be cases in which a person invested way more into BTC at the top of BTC prices in 2021, so then that person may well end up still being in the negative because they are having to make up for their having had front loaded their BTC investment at times that ended up being higher prices than they are currently. Those kinds of mistakes do sometimes end up happening, and maybe some of those kinds of persons might end up DCA investing into bitcoin 3-4 years (or even more) before they finally start getting into profits. Of course, no matter what there are not any guarantees that your BTC portfolio will end up in profits, even though many of us have certain levels of confidence that bitcoin is amongst the best of investments currently available, if not the best investment, and because of our assessment of bitcoin, we continue to buy into it, even if it might take a while for our holdings to get into profits (an might not ever get into profits if something ends up negativing bitcoin's positive investment thesis).