Quote from: Synchronice on July 20, 2025, 10:40:39 AM

Quote from: Reatim on July 20, 2025, 07:06:49 AM

i am aware we all have different strategies and goals for our investments but i am sure that a lot of us are planning to hold bitcoin for the long term and it got me thinking what ways could we do to prevent us from being tempted to sell our bitcoins and spend it on unnecessary things

one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.

do you also do this and does it really work for you?

I think that if someone doesn't have that much willpower and discipline to not touch Bitcoins that he/she intended for storing long-term, then the first thing that these people have to do is to work on it because it will help them in life and boost them in every way.
Anyways, there is one option for those who don't have high self-control. You can use timelock in this case. Timelock allows you to create a Bitcoin transaction in a way that the recipient of the output won't be able to spend them for a specific time. If you choose 5 years, you wont' be able to spend them for 5 years, doesn't matter how much you want it, so, it's a nice deal in this situation.

Yeah I get what you mean most of us probably holding bitcoin long term but it hard part is actually not touching it when the price goes up or when you just feel like spending. However what I usually do is tell my self that stack is not even my money anymore it is just something I am putting away for the future so I don’t even count it as part of what I can spend day to day the more you stare at the price the more you all want to sell so sometime it is best to just forget about it.
Of course at the end of the day it comes down to discipline if someone does not have self control to stick to their plan that is something they need to work anyway because it all helps in every part of life not just with bitcoin. That being said there is cool option for the people who they might get tempted timelock basically you can lock up your coins for a certain number of years and there is no way to spend them until the time is up if you set it for five years that is it u can’t touch them for five years no matter what it is like forcing your self to stick to the plan.