Some people only consider hodling for a number of years without considering if that is enough hodling, I think if one wants to accumulate enough he shouldn't not consider the number of years but consider if he has truly accumulated enough.
Number of years should be a prior which should be considered as a target of accumulating. When you don have a specific period/duration or time horizon then surely such person don't have focus. And investor always have a time frame of investment and schedule himself of how to apply the investment strategy to meet up his target with the specific period of time maybe 4-10years intervals or 10-20 year. Surely there are times along the line of investment process when a person may be jobless or out of fund or discretion to continue his investment procedure and such person investment approach may slow down a bit but h/she will still have that focus and zeal of meeting up the target of that period of time h/she planed. Sometimes an additional year may be added if such person was financially unstable for 1 year or more. maybe the speculated time frame was 4-10 years minimum but may be extended to 4-11 years adding 1 extra year. So all implies that time frame is very important in accumulation process because it keeps you motivated.
What I was trying to say is that when you reach the number of years which is your target also consider if you have accumulated enough, some people may have a 6 years target of accumulation and when they get to that 6 years one may discover they have not accumulated enough that was why I said our fucus should be if you have accumulated enough.
And one can decide not to have a number of years as a target for accumulation but a particular number of Bitcoin to accumulate which is seen as enough and I think that will give you even more focus.
If you have a target of 6 years and you meet that target and you discovered you have not accumulated enough it may be frustrating and that is why having target of numbers of Bitcoin one wish to accumulate or have in the journey may be better.
My opinion.
In as much as what we are doing is continuous something I mean no one knows how long Bitcoin will stay but with what we are seeing I don't think Bitcoin will end or stop anytime soon and we don't pray for that either, so for this reason I don't think it is necessary to set a target on the number of years one wish to accumulate perhaps this should be a continuous something (accumulating anything you have money to...), Again setting target can be frustrating and it can also put unnecessary pressure on someone.
Not having target sound kinda boring to you think is like playing a running game without no end. and one bitcoin investment goal don`t have be years he or she can set their base on their bitcoin stashes , and most time after hitting your you can choose to go extra miles . like for instance your goal is one bitcoin and you endup hitting that goal, so you may decide to accumulate a little till you are satisfied . and meeting your goal doesn`t mean you are going to stop holding still but it means that you have gotten yourself some nice quantities , and you can
take some profit while you choose to replace it or not.
The idea of having no target at all would probably not be a good one, yet the idea of having some loosely framed targets would probably be good, and such loosely framed targets might not be well expressed in terms of either bitcoin or dollars, since those are somewhat moving targets... and so surely there could be goals that are set in terms of either bitcoin and/or today's dollars with some speculation regarding how the dollar might continue to be debased or perhaps attempting to consider the target in terms of either real world goods or perhaps something like a kind of fuck you status that still would allow you to quit whatever job that you have and to be able to live off of your bitcoin (or your bitcoin and a combination of whatever other investments that you might have accumulated somewhere down the road).. so you would also likely have some kind of a timeline in which you might want to reach your fuck you status, too.. and that may well be based on your age and/or your various expectations about your longevity (or health status).
Your expression of your goals and/or targets in terms of "taking some profits" comes off as a bit lacking in abilities to express yourself in terms of investing rather than coming off as either a trader or someone who is grasping to appreciate the value of bitcoin.. as if you are seeking dollars or just not able to grasp why you are in bitcoin... and yeah, I am not trying to degrade you, since it may well be the case that I am criticizing your semantics (or your word choice) rather than the substance of what you are trying to say in regards to bitcoiners gaining more options after they had spent a decent amount of time accumulating bitcoin. So maybe you just need to figure out some better way of saying what you intend to say, rather than proclaiming that you would be wanting to take profits (like you are getting out of bitcoin or trading it), but instead there are ways to sell small parts of bitcoin that allow you to balance out your holdings especially if any of us might get into situations in which we become way overweighted in bitcoin, so shaving off some bitcoin as the price goes up (especially after we have reached our accumulation targets or overly reached them) can end up providing us with downside insurance - so we are not necessarily selling to take profits but instead giving us some downside insurance since by the time we start selling any bitcoin, we may well have concluded that we have accumulated enough (or more than enough) bitcoin.
[edited out
Let not forget that bitcoin is money, not our usually fiat which is what makes it distinctive. and as money no amount of accumulation gets to be enough but despite it that its very important we set out a target plan for ourselves that would serve as a map to guide us in the accumulation journey.
What you are saying is strange, letteredhub. Whether bitcoin is money or an asset or whatever, surely, there are points in which normal people (normies) should be able to determine that they have enough money.. so don't get value assessment mixed up with various goals that normies might have to preserve and/or to continue to build their value within reasonable parameters that do not necessarily conclude that the desires for wealth are unlimited for people, since there likely are tradeoffs for anyone in terms of what they might have to sacrifice in terms of building wealth versus preserving wealth versus present consumption as compared to future consumption possibilities.
Sometimes age could also contribute to ideas regarding how much is enough or even how much consumption can be done today versus investing for future consumption or if there might be ways that present consumption needs (desires) are already met, and so investments are also enough to anticipate that future consumption needs will be sufficiently met too, even building in presumptions of future costs going higher with some levels of uncertainty with the passage of time.
with a target it makes things easy for self assessment and evaluation along the line if you're making success or slacking behind.
Surely this is an agreeable statement in which goals can be sufficiently outlined and even loosely outlined in such a way that any of us can get some assessment along the way to the extent to which we are in the ballpark of staying on track or if we might fall so far off track that we have to reassess or even to change some of our plans and/or practices based on how far we might be falling off of our expected path to our target... so yeah, we can have longer range targets and then intermediate range targets that help us to assess the extent to which we might be on track or not.
but where there is no set target you can't actually track the level of your progress and make for adjustment where necessary. this is jut the essence of targets and not that its to place pressure on the individual.
Another good point. We can set our targets as aggressively or conservative that we wish, and surely many of us have met folks in the real world (or even maybe found examples of such persons) who establish realistic targets and/or expectations for themselves and other folks who seem to live in a fantasy land, so these are the kinds of goal creation and follow through matters that each of us need to assess for ourselves and act upon, and sometimes we might not realize the extent to which we might be overly conservative or overly ambitious in our goals and/or that our actions might or might not help us in achieving our goals until the passage of time, and then after the passage of time, we might come to realize that we might have made mistakes along the way in such that we had assessed future world possibilities based on our plans and actions.. so sometimes our mistakes might end up being somewhat insignificant and still within a ballpark of reasonableness, and other times we might find out that we had lost opportunities and valuable time that we are not able to make up, so sometimes we may well not be able to go back and fix our mistakes.. and surely there may be other times that we end up achieving way more than we had expected, yet still realize that our planning and our actions had given us the abilities to achieve what we had ended up achieving.
I think more time to accumulate will occur this year though it seems we wont be going back to the lows of the year, thats been rejected a few times. I do think it takes some time to get past 70k and properly move beyond. The real time to buy was either in the teens or when we were rising from there, it required more confidence to do so. Right now we've been stuck in a range for 6 months, most tempting thing is to buy the lows of that range and sell the highs hence it repeats.
Any bitcoin newbies, including anyone in their first bitcoin cycle (and perhaps some relative bitcoin newbies in their 1st year or two of BTC accumulation) still have to figure out whether it might be worth it to them to anticipate BTC price dips or just to continue to buy BTC regularly whether there might be a BTC price dip or not, so it tends to be true that there are so many folks who are fairly early in their bitcoin accumulation journey that should not be trying to guess (or predict) whether or not there might be some further dip from here and so maybe the already have practices to buy bitcoin weekly and yeah maybe they might try to time a bit of a dip, but they might find it problematic to spend too much effort in trying to figure out how much of a dip there might be and perhaps not even worth it to hold off on their weekly BTC buys because of anticipation of BTC price dips that might not make any kind of large difference in their BTC accumulation journey, even if such BTC price dips were to take place.
You, STT, have been registered on the forum since mid-2013, so your particular BTC accumulation circumstances may well allow you a lot more freedom to fuck around with some kind of anticipation (and maybe waiting) in regards to a BTC price dip that may or may not end up happening. Also, fucking around with selling might not be a very good idea for anyone in their first BTC cycle, unless they might have had an ability to front load their BTC investment to such an extent that they had been able to accumulate a sufficient amount of bitcoin or maybe to have had overly accumulated their bitcoin.
I am a bit surprised that you, STT, are making general trading suggestions, since even a guy like you might measure various points in the past 11-ish years that you could have had gotten into bitcoin and merely accumulated bitcoin without selling any and to have had been better off than an overwhelming majority of folks trying to figure out tops and bottoms and many folks in the past 11-ish years who sold way too many of their coins too soon because they were fucking around with trading rather than emphasizing mostly accumulating and holding.
By the way, I will concede that any of us could look back at the BTC price charts and retroactively proclaim to know when to buy and when to sell, yet when any of us are caught in the moment it is likely way better to have had a bitcoin system that would have had largely been weighted towards accumulating through buying and to minimize (or perhaps completely refrain from) selling much or any of our accumulated BTC.
If you want to proclaim that you engaged in trading through the last 11-ish years, then I would be interested in hearing if you also proclaim BTC trading to be generally better than a strategy that mostly were to focus on BTC accumulating (through buying) and holding (by not selling).
I think more time to accumulate will occur this year though it seems we wont be going back to the lows of the year, thats been rejected a few times. I do think it takes some time to get past 70k and properly move beyond. The real time to buy was either in the teens or when we were rising from there, it required more confidence to do so. Right now we've been stuck in a range for 6 months, most tempting thing is to buy the lows of that range and sell the highs hence it repeats.
It really seems you are getting the whole idea in this thread wrong, I am talking of the words I made bold in your statement, it's actually true that the price of Bitcoin has been in a range for quite sometime now, which is very much visible for all to see, but this your buying low of that range and selling the high once it repeat is actually for traders, not investors like us.
Even though I agree with you Barikui1 that investing in bitcoin is better than trying to trade it, this thread does not preclude participants from advocating trading of BTC (wether they are trading or they are advocating others to trade).
I believe that buying low and selling at any slight increase in price of Bitcoin is mainly for traders, and sincerely speaking, that strategy wouldn't take you anywhere, and it's nothing compared to what the longer term holders stance to gain in the nearest future.
There are a lot of variations on trading, so some traders try to trade small price changes and others trade larger price moves. Some traders use leverage or incorporate shitcoins into their strategies and others do not. Some traders use a variety of instruments besides spot trading, such as futures or options or they might even dabble in related projects that might not even be shitcoins, such as investing in BTC mining or mining-related projects.
So in my own perspective, due to the fact that we are still in the early days of Bitcoin, and it robust potential that it has, the best way to go about it is to buy Bitcoin through the DCA accumulating strategy regardless of it current price, and hold resiliently for like 7 to 15, with that kind of strategy, you can be able to build a generational wealth overtime, but this your buying and selling any slight increase in the price of Bitcoin is a no no too me, that is mainly for traders, not for investors like us.
I agree that investing in bitcoin is likely better than various other tactics (including trading), and surely my own approach is both to invest in bitcoin and to advocate investing in bitcoin, yet members have to figure out for themselves what they want to do and how they want to approach bitcoin. I doubt this thread really precludes various other approaches to bitcoin, even if several (if not most) of those various other approaches may well be inferior to an approach than emphasizes investing through accumulating (through buying) and holding (by not selling) bitcoin... and yeah, if someone comes here and advocates getting involved in shitcoins, then they are likely getting too far astray from the topic of the thread, yet there can be a variety of ways to approach bitcoin including various approaches that are inferior that would still be on topic, even if they might end up resulting in inferior performance.
I think more time to accumulate will occur this year though it seems we wont be going back to the lows of the year, thats been rejected a few times. I do think it takes some time to get past 70k and properly move beyond. The real time to buy was either in the teens or when we were rising from there, it required more confidence to do so. Right now we've been stuck in a range for 6 months, most tempting thing is to buy the lows of that range and sell the highs hence it repeats.
No one knows when that will happen, we can see the movements that have occurred in the last few months, even though there is a correction, there is
always an opposite movement that is able to recover it quickly, as happened in the near future and now we are in a positive trend that also doesn't know at what point it will stop.
If this positive movement continues throughout this year then I am quite optimistic that we will see prices getting higher.
Even though I agree with your overall point Xcode7, I find it a bit problematic that you used the word "always" in your post.
Yes, we likely realize that the trend is our friend, we are in a bull market and the shortest term momentum in bitcoin seems to be positive. However, at the same time, you seem to still recognize that we can never really know at what point the trend might reverse or that we might have a correction (whether short term or not), even while ongoingly there tends to be a lot of failure/refusal to account for ongoing underlying fundamental bullish bitcoin dynamics - which is part of the reason that less than 1% of the world's population has any BTC price exposure.. so any of us who are erroring on the side of BTC accumulation and/or making sure that we are as prepared for UP as we are able to be, we are likely going to end up being way better off (and having more options) than those folks who are ongoingly failing/refusing to prepare for UP or who might be playing around with trading rather than staying focused on BTC accumulation through mostly buying BTC and maybe holding if they run out of money to buy more BTC, presumptively that they already have some and have not come into this situation as either a no coiner or a low coiner.
**
** By the way, my own definition of a "low coiner" is someone who fails/refuses to sufficiently/adequately stack BTC rather than someone who is trying to stack BTC but just does not have as many BTC (satoshis) as s/he would like to have.No one knows when that will happen, we can see the movements that have occurred in the last few months, even though there is a correction, there is always an opposite movement that is able to recover it quickly, as happened in the near future and now we are in a positive trend that also doesn't know at what point it will stop.
If this positive movement continues throughout this year then I am quite optimistic that we will see prices getting higher.
We can also say that the recent price recovery is due to the effect of buyers who are still in large numbers in Bitcoin, which means that Bitcoin price movements can continue to be seen this month and it is possible that this will continue this year. But for Bitcoin's price journey to $100K, I think it will still be difficult to happen in the near future because considering that the current price is still below $70K, the time needed to see a much higher price is still quite a lot. However, the possibility is that Bitcoin will never be closed because currently there are many rich people who are still fond enough to continue collecting Bitcoin with more reasonable speculation.
You might be correct that there is resistance between here and $100k, yet the mere fact that you "might be correct" does not lend much credibility to your seemingly underappreciation of BTC's upside price potential, including how much actual illiquidity actually exists in terms of where BTC prices could end up going in a relatively short period of time.
Hopefully you are neither trading nor failing to sufficiently/adequately prepare for either $100k or scenarios beyond $100k, and since you have been a member of the forum since late 2015, hopefully you have figured out that it is better to be prepared for possible extreme upside price movements, yet the substance of your posts causes me to speculate that you might still not recognize and/or sufficiently understand bitcoin.
Need I look at your post history?
O.k. Fuck.
I did a quickie look through some of your post history, and yes, I see that you have had a lot of time distracted by shitcoins, so it is quite likely that you have little to no clue about what bitcoin actually is... so that might be part of the explanation why you are anticipating various areas of resistance between here and $100k.. so maybe you might want to explain your bitcoin stacking strategy, how many shitcoins you hold and the extent to which you are trading and/or employing financial instruments (if you might be doing that).