Quote from: Cryptoprincess101 on October 01, 2024, 09:25:13 PM

Quote from: sotelorene on October 01, 2024, 05:52:51 PM

Quote from: Cryptoprincess101 on October 01, 2024, 05:21:28 PM

Quote from: JayJuanGee on September 30, 2024, 06:58:09 PM

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You explanations are okay @JayJuanGee but talking about age as one of the factors that can lead to an investor deciding to sell their bitcoins earlier than expected, don't you think it will still be a good idea for someone who is quite old to pass the long term goal to their offspring instead of selling because if he decides to sell due to old age it will still return back to Fiat that has low monetary value when compared with bitcoin so it will not be a good idea to sell bitcoin and still return back to keep Fiat again, it also makes me to think why someone who is quite old will consider to just invest within 4 years interval (just an assumption), what if at that time the price of bitcoin falls will they sell at lost just because of their age?
If an investor decides to sell their bitcoin within a short time frame due to health issues it's understandable but yet keeping emergency funds for such situation in the future will be best instead of selling except the health challenge supersedes the emergency funds before selling their holdings to attend to their immediate challenge will become an appropriate decision.

I get your point but I hope you also know that we are not just investing in Bitcoin to hold it forever rather we are investing to hold for some period of time so that within that interval of time our holding would've grown so big that we can now take or sell. So if an old investor wants to seel off his investment it's not a crime or wrong decision and if I may ask what if the aged investor don't have someone to watch after or look after the investment because I know there are people like that and on the other hand if an aged investor have someone such as son, daughter, relatives etc, then I will suggest the aged investor ask if they can watch over the investment or if they have other investment plan and if they can watch over it maybe they can sell a little of it keep and the investment burning. but not everyone is into Bitcoin investment even though Bitcoin investment is very cool.

It is true that we can't hodl forever but bitcoin should be a store of value instead of to consider selling simply because they are getting old, how about those that died even when they have huge stash of bitcoin in their portfolio? are you going to blame them for not selling it off before they gave up the ghost? even in the bank there are still people that left huge funds there and left the world even without anyone close to them knowing about it. In a nutshell, all am saying is that if someone has a long term targets they should not sell their bitcoin when they feel they are getting too old so far as they are not into any financial pressure of any kind because you can agree with me that if it involves someone that invested a huge amount and decides to sell, is it not still Fiats that the money will return to? our goal is not to move from Fiat to bitcoin and not to reverse back from bitcoin to Fiat again it does not make any sense. We keep hodling whether young or old then if a person is getting too old and feels they may not really be able to control the assets they own in bitcoin, they can hand it over to someone they trust.

People HODL for several reasons such as for retirement so that their can maintain the same lifestyle after they are retired from active service. This can be achieved by saving certain portion of income in Bitcoin monthly or as the case maybe just like people do it in fiat system through pension. I strongly recommend that those of us that are opportune to learn about Bitcoin should consider this pattern of saving for retirement in Bitcoin. In my country, their is a government policy that mandates all employers to deduct about 10% of the salary of their employees and save it as mandatory pension contribution in a reserve funds that will be accessible upon their retirement. Those of use who are into Bitcoin can copy this, while they are taking 10% to save as pension, we can also work out another 10% or a suitable percentage that we can put into Bitcoin to save for retirement. This way we will be HODLing for something and with a target.

Another reason some people would HODL forever or what will seem like forever is when their intention is to pass their Bitcoin to their children as their legacy. I happen to be working on this as well because I want Bitcoin to be one of the things I will give to my children. So irrespective of the market conditions or how high Bitcoin goes, I will never sell all my Bitcoin and my wallets will always have Bitcoin that will be taken over by my heirs when I have played my part on earth. This is the reason I have come to know that people HODL for different reasons and it is important we find ut this reason because it will serve as the motivation for doing what we do.