Bitcoin is so hard to Hodl that most of the people reading this won’t make it 20 more years.
Hell even the person writing this (me) might not.
That’s how hard it is.
Never forget that.
Discussion
Respectfully disagree. Once you pass a certain threshold of conviction, it becomes quite easy. I could see hodling well well into the future, and tapping my stack for a loan should the need arise, once that type of product matures.
Yeah, I will never sell. Will spend some though.
What would be your most likely reason to sell (other than a failure of the protocol)?
Sell? No clue, not much would cause me to go that route unless there were zero other options. Catastrophic medical issues could potentially push me towards a bitcoin backed loan. I’m sure there are other scenarios, but not many. Since finding bitcoin, materialism has really faded into the background. I still want things, but the desire isn’t as strong.
Curious to see what would be the driver for most people.
Time is harder to hodl. So I won't be mad at myself for spending some BTC way before then
I knew you were gonna sell in 20years and make a cope post in advance. SMH.
Fuck I’ve been exposed
Stupid
Why?
It’s a generalization.
I’ve been in bitcoin for awhile now. I’ve seen many people fuck this up. So much so that I’d say it’s the rule and not the exception.
Simple, CLTV your stack for 1,050,000 blocks ✅
I suspect that you are correct. For most people I think it'll be harder to sell the closer it gets to paying off their home, credit cards, cars, kids' college, etc. I don't expect the same for most hardcore hodlers. We do all we can to save in Sats, and keep living below our means as to not have to touch them.
However, in the next 5-20 years I think you'll be able to play your cards in a manner that you won't have to sell. If you have something like major medical, or other unexpected life expense come up, you'll likely be able to get a collateralized loan against some of your Sats. I'd like to believe most people will be wise enough to do something along those lines, as opposed to dumping their Sats.
I plan to get a loan like that when they mature to buy an income generating asset like a duplex, triplex, fourplex, or small apartment complex. Use the rental income to pay the loan off. As Bitcoin keeps growing in strength against the US Dollar you'll be able to keep reducing your collateral until the loan is paid off. No loss of your own Sats.
If you default or have to forfeit your Sats to pay off the loan, then the original plan was to sell them for whatever you needed taken care of in the first place. Meaning you're not really out anything more than you would have been otherwise.
I'll never buy stuff or get loan to on my sats to buy stuff that I rent to others. This rental thing is awful in my opinion. If I live in an apartment or on a land I buy it, simple.
I appreciate your view on wanting to own the land you live on. Here are a few things to consider.
Everyone needs a place to live. Apartments should offer affordable housing to allow people to get up on their feet. Not everyone is fortunate enough to be able to live with their parents or family until they can buy a place.
Additionally, there are some people who aren't interested in the responsibility of owning a home. They don't want to worry about property taxes, insurance, and most importantly - maintenance. Sometimes people need a place to rent because they are only in town for a few months for work. Not everyone wants to be a homeowner.
I think that single family homes will become more affordable as #Bitcoin is adopted more as a store of value. The only property I'd be interested in owning as an investment for rental income is multifamily housing, or commercial buildings.
I also believe owning and managing rental property is a service industry. Where you should work to provide the best quality of service to your tenants. This opinion is not shared by all in my industry, but at least I can sleep easy knowing I'm providing the best quality of service to my tenants.
I see your point now, thanks for the explanation. I also appreciate you want to offer good services. I'm just not liking the idea of making money by simply having too much of it to start with. It seems inevitable though. It is about how what we do with it I guess.
Generations to come wont understand, just like we dont truely understand what the generation before us did for our freedoms. 🙏💜
I’d like to imagine psycho Bitcoiners on nostr today are the most likely of all to hodl through tough times
What could make you not making it ?
Idk 🤷🏻♂️ I intend to make it, but I’m being realistic with my own limitations as a weak human just like everyone else
We like hard.
It's hard to HODL Bitcoin because I intend on using it as currency.
I'm not going to live in a hovel and eat ze bugs while sitting on 1000 BTC, but I also sure as hell hope I don't sell my BTC for dumb shit. Hopefully there's a comfortable balance point between the two. Time will tell.
The amount of bitcoiners who will sell right when the dollar value proves they were right instead of stacking, its higher than people think.
#bitcoin
Yes it is good to keep this in mind : but for me there is no alternative as fiet does a slow death dragging billions down with it. Even a blind man can see it
You need to have a plan about hodling and you must have targets. In the long run of course it was worth hodling but depends on what you sacrifice I think.
The best way to HODL is to engage in a form of self induced cognitive dissonance. Once you put your bitcoin in cold storage, it no longer exists.
Have another bag that you hold in case of a rainy day. And have another one for a short term surprises.
Are you referring to selling or dying? Unclear by your message.
lol I’m not that old bro. Planning very much to be alive in twenty years.
I believe hodling is the same as saving.
And Bitcoin is the perfect savings instrument (in time, as the volatility decreases).
So, don’t think of it any different from what one would regarding savings: do I want to purchase something for my life that I find real value in having, and having it now? If so, use savings to buy it. If not, leave it where it is.
In other words, don’t sell: spend.
If thinking in terms of price target or timeframe, that is not hodling or saving: it’s trading.
HFSP
I get it now more than ever. I know so many convicted Bitcoiners panic sold or reduced position when it went from $74K to $50K
I’m going to fucking make it
💯 Thus the importance of a work ethic and skill set that makes starting from zero again not a crises.
Yes.
I feels like I've held it for twenty years already.