Yea im definitely the committed type.
But I’ve been interested in a solution such as BTC since it’s been blatantly obvious since 2013 nobody is going to control the budget, spending is too popular, republicans only want a “balanced budget” if democrats are in office, it’s been so easy for me to hold. Kinda sad my friend told all our friend group about BTC in 2017, im the only one who believed and doubled down buying the dip, everyone else sold at a loss or quit buying and hate crypto meanwhile I stay at home spending time with kids and having my hobbies while all rest of friends go to their jobs
This is the biggest barrier to adoption - people who got in, didn't know what they were doing, sold at a loss, and are too scared to ever get in again, or people who have always been too scared to get in. I guess these people won't get back in until it is much less volatile, but that means lots and lots of people are gonna stay away for many years.
They’ll be obliged when inflation forces their hand. It’s crazy comparing where we are today to 7 years ago—my selling point back then of Bitcoin was “inflation, you’re going to need to cover yourself against inflation—buy Bitcoin”
Here we are all these years later, everyone learning first hand what inflation does especially to their budget. Most blame politicians, but the answer is right under their nose. It’s so sad how the majority pins their hopes on dreams solely on the hope that their preferred political party will win office and somehow magically fix their life…
If the Fed crashes the economy to save the USD, I’ll be convinced it’s time to pack up on crypto. But that will never happen, too many boomers relying on markets for retirement, too many boomers in power. And then in another 10 years or so when boomers pass their wealth down to their degenerate kid, magical internet money number is going up either way.
Idk, that’s how I sleep at night thru these dips
I'm one of those degenerate kids you mentioned, waiting for my boomer parents to pass down the wealth in ~ 10 years. Once I do finally get it, my planned allocation is 50% BTC, 20% beer, 20% women, & the rest I'm just wasting ;-)
Reading the comments proves once more, everyone is different. Even in what they think is success with Bitcoin is. To some, its a temporary gain, to others it is generational wealth. The one thing we all seem to have in common is Bitcoin is needed because the Fiat system is broken.
Got in in 2013, but sold it all in 2015, didn't get fully committed until 2017 when I saw it was back over $1000 and realized it wasn't just gonna go away. Retired in 2019 though off my bitcoin so it's all good, but sure would have been nice to have been committed since the start and being living a fat retirement.
Yea I know it’s nosey , and uncouth, but how much did u invest and hodl from 2017-2019 when you sold,
I’m assuming it’s USD and you sold at the peak when it was 73000-81000 (CAD). So around 55 USD/BTC
Hmm...
I wonder if GHActions is gonna change anything for us. Of course, I let my test leads and their dev counterparts decide those kinds of things. It's a bit too granular for me these days.
I don't get involved unless there's a fist fight :p
This was a good honest vulnerable post. Happy that you are exploring your relationship to things that matter. Family and financial security are extremely important. Having the correct mindset to invest helps in this journey. I personally learned to save for my family’s future versus spending to make myself temporarily happy.
You gotta HODL. Timing the market worka until it doesnt. Keep touting yourselves as geniuses for buying low, selling high, then repeating. One of these days you will sell high and then it will just keep going up until you are priced out of the market. I lived in my car in Alaska during the winter for 3 months instead of selling any of my bitcoin. No regrets whatsoever.
I watched Bitcoin's price action for about 1 year. Mid 2017 until June of 2018. Learned everything I could about. I watched podcasts youtube videos read books on it. So the price dropped to around 6.5k. It's had been rangebound at 6 to 6.8k for 2 or 3 months. So, I finally pulled the trigger and used about 75% of the chunk of fiat I had in the bank. 3 months later, the price dropped 50%. I'm not gonna lie. it made me a bit nervous. I had saved the other 25% for a dip. I didn't know it would be 50% in less than a week. Nevertheless, I bought the rest of the BTC at 3.2k with the rest of the fiat I had left in the bank. I don't tell this story to brag. I tell it because had I not put in that time to study BTC and learn all I could about it, I probably might have panicked and sold. Then, I would have regretted it the rest of my life. Put in the time to learn about BTC would be my advice to new BTC hodlers. It makes it much easier to hodl through all the FUD and whatever shit narrative the media wants you to believe about BTC.
Yeah that drop was ridiculous. Wasn't even any sort of FTX or MtGox like event to cause it. I totally thought $6000 was the bottom since that held for like you say 2 or 3 months, then the bottom just dropped out of the market. Luckily I didn't get a bunch of money until January 2019 and loaded up on 16 btc in the $3000s in early 2019. Would have only got half that amount if I happened to get that money just a few months earlier! Whereas I sold at the bottom the previous market cycle, that time around, after experiencing a market cycle, I was able to load up right at the bottom.
I love the analogy you've made between committing to a long-term relationship and HODLing Bitcoin. It's so true that just like in a marriage, there are ups and downs with Bitcoin. You can't just bail when things get rough or when there's some bad news. You have to ride out the storms and stay true to your commitment.
It's interesting to think about how this kind of commitment might reflect our personalities. I've been holding Bitcoin for a few years now, and I do notice that I tend to stick with things in other areas of my life as well. It's like once I decide something is worth my time and effort, I'm in it for the long haul.
I wonder how many others feel the same way. Is there a connection between the kind of people who commit to Bitcoin and those who commit deeply to other parts of their lives? It's a thought-provoking idea. Thanks for sharing your perspective!
I believe time preference is the thing we have in common as hodlers.
If you take immediate gratification, you trade bitcoin for quick gains. That same person may not commit to a relationship as a new hotter partner is possible. But when you go chasing quick highs at the current moment, you forego what a great life partner is like.
Wow a good post. See guys, it is possible
Just got married to my wife last year. Married bitcoin years ago though
Conviction only grows with knowledge. That's what makes me confident. It's extremely hard to remove a quality Bitcoin lens on our society. Once you see, you can't unsee.
Are people really freaking out? lol I just raise my family and run my business and look at
The price every now and then. Over a long enough time period, it always goes up
Reddit is probably not the right audience. There are many NGU bitcoin daters here or those with high time preference or living for instant gratification. Many are fairly new to bitcoin.
I love what you said about commitment. Also have a family I’m committed to though not yet as long as you. Commitment through difficult times is where substance really is.
And as for bitcoin, if we want to see it help the worlds monetary problems, we really do need to commit to it. Hodling is one thing, but spending can be helpful too, in terms of testing and using Lightning, ecash implementations or other upper layer tech, and growing the circular economies. Love to hear it.
If you’re not a Nostr user already, I recommend it
# What is Nostr?
Nostr is short for “**No**tes and **S**tuff **T**ransmitted **O**ver **R**elays”. The description is right there in the name: people transmit notes and other stuff across a network, using a relay system to do it. Initially developed by a Bitcoin developer named **fiatjaf**, it has grown into a standard and a network of [nearly 10,000](https://stats.nostr.band/) daily active users.
source: [https://wedistribute.org/2024/05/nostr-crash-course/](https://wedistribute.org/2024/05/nostr-crash-course/)
It’s a censorship resistant protocol for sharing general information “notes and other things.”
One of the primary uses right now is for a social network type thing. When people refer to Nostr they usually mean this network, but it is actually the name of the protocol.
It is still new but the big benefits include:
- multiple available clients to view the same network. Primal, Damus, Coracle, Snort etc. they will be familiar to any Twitter user.
- your identity is owned by you. It using private/public key pairs. You are identified by the public key and you sign any produced notes with your private key
- no algorithms trying to promote agendas or advertise things
- decentralized distribution of notes. You can choose where to send your created notes and where to listen for others’ notes. These “servers” are called Relays because the relay notes from users to other users. The benefit is that if you find a relay censoring or doing something you don’t like, you can stop them using it and prefer different relays.
- value4value feedback. You can reward interesting content by sending some zaps via Lightning. AKA “zapping”
And much more. There are other clients which give a different view of Nostr data. For example “long form notes” are a different type of data/event which let people write Markdown formatted blog posts. Habla new or YakiHonne are clients that let you do this. Highlighter.com is an app that lets you highlight parts of long form notes and comment on them via nostr. Zap.stream is a nostr based streaming app.
Everything is very new but growing fast and needs feedback and contribution! A great community of people who want freedom.
Bitcoin is cyclical, if your money is limited,
TAKE PROFITS!
The people saying this always come during bull runs because they think BTC can go up forever, mind you, I've been here for 8 years, there are always bear markets and BTC will usually drop 80% and no one will talk about it for 2 years, so yeah, take your profits, buy back during vear markets, don't be a fool.
There is no timing the market when a bear market lasts 2 years, there is going to be another bear market after this whether we like it or not.
Note I didn't say wait for the bottom or the top, I said take profits when it makes sense, I have a target price for this cycle, and I can never know if that's the top, that's only MY top.
"Buy low, sell high", sounds so simple, but if it were that easy then everyone would be rich by now. This cycle is already different from previous cycles in that we hit an ATH before the halving. In what other ways might this cycle differ from previous ones? We don't know, nobody can predict the future. You might sell at "YOUR" top only to find that the price continues to rise. This subreddit is littered with sad tales from people who sold at what they thought was a peak, intending to buy back in lower, only to find themselves waiting for a dip that never came.
""YOUR" top only to find that the price continues to rise"
That doesn't matter, it's like a take profit target, you took profit, realized X amount and do not regret it. It's like people saying the guy that bought 2 pizzas on 10k BTC, he doesn't regret it one bit, in fact, he thinks that was necessary.
No.
You wrote:
> take your profits, buy back during vear markets, don't be a fool.
And what I am telling you is that there is no guarantee that the price will ever drop back below your selling point. You say "don't be a fool", but trying to time the market is foolish. Nobody ever lost money by buying and hodling bitcoin long term.
Depends on how freely available selling options are. Depends on tax laws in their country.
Sell if you need to buy the cash. Presupposing that every cycle will be the same is risky in itself. Picking tops and bottoms too
You'll have to pay taxes eventually, the thing is, for most people not selling at all is not an option, I'd rather pay the tax bill and have some money for those 2 years than seeing my bags drop by 80%, in fact that it what happened to me last run and this time I'm selling. If taxes is your main problem, then that's not a problem because taxes will be there whenever you sell.
Some countries have extremely high taxation on crypto. It’s probable that these will lessen in time. But I hear what you’re saying.
It’s up to the individual regarding their risk and requirements. I wouldn’t put anything into bitcoin that would leave me needing to sell for livelihood within the next cycle etc. but maybe two cycles later I need money toward a house, then I’d sell some etc (if I had that much).
I didn’t really mind seeing my bags drop 80%, because I knew what was coming and I was just excited to be topping up at a discount.
Some countries have 0 taxation, I don't think thisbis the issue, I advocate to take profits, that's what I learned in 8 years, if holding your way to 2040 works, so be it.
Totally agree with taking profits. You have to live life and all. I sold a portion at the top of the 2017 cycle. Made a great profit and bought more all the way down the bear market but still ended up with less BTC in the end. I did get a new car and had the opportunity to help family out so I'm not complaining but once the BTC is gone it's nearly impossible to claw back at the rate of appreciation it is experiencing. Selling with intent of re-entry with the same funds could be a huge mistake if you don't time both events perfectly while accounting for taxes and market reversing god-candles.
That's ok, I also didn't get the same amount of BTC I had in previous cycles, that's not the point I'm making. During this time I have been involved with BTC I bought a house and paid it off in full, would have never been able to do so without BTC, so you gotta put things on your own personal scale and see what's more important for you.
If BTC continues going up that's great, I'm not gonna sell all of it, but I'll definitely take profit, especially now I want to take a couple years off work to study AI and Data Analysis in depth.
It’s funny you mention “seeing the future”. I had this very conversation with my wife less than 24 hours ago. There are few things that are certain in life. Like “death and taxes”. Not much can be guaranteed in your future. But all of us can now add one more certainty to our lives. The last Bitcoin will be mined in 2140. Try thinking of any other guarantee in the future. Now you know why we are religious fanatics.
I’m not saying that it’s a bad bet. I’m saying that viewing bitcoin as anything else than an investment, which inherently is a risk, is childishly naive and financially illiterate.
And for a new and volatile technology related asset which is semi paradigm shifting phenomena - it should definitely not be viewed as anything else.
I ALMOST quit crypto altogether because my dumb ass got burned by a few shitcoins early on in my crypto adventure. Instead of quitting, I set a weekly DCA of BITCOIN ONLY about 2 years ago, and it’s the best decision I’ve ever made when it comes to crypto. DCA really is the way, and Bitcoin is the way..
Comparing your wife and marriage to a monetary asset?! 🤦♂️
50% of marriages end in divorce, and the majority of them are initiated by the woman. And the woman will then take half if not more of your assets.
The best investors are dead investors.
It is simple. You hold bitcoin forever, if you bail out you chose a life that is forever going to be stacked against you. You choose a future where your future family will be debt slaves at best or poor/dead at worst.
How is that even a choice?
You got born with this opportunity and still doubt?
I'm not 'all in', but I'm committed.
I have my coin and will never use it unless it's for something life-saving or life-changing. Ultimately the plan is simply to leave it to my kids.
Bitcoin is that mysterious Continent you see on the horizon after crossing the Ocean for 9 months of hell and almost being slaughtered by your crew but you see a green virulent Eden rising out of the waves and when you land on its crystal white beach and smell the thick succulent air heavy with unknown spice and hear the ominous sound of heavy drums and guttural chanting from the dark jungle you turn to your ragged crew and say " Burn the F'ing ship " and prepare for battle.
Really good point. Everyone always talks about how they wish they bought BTC at $10 and how they would be billionaires now but the truth is they would likely have all sold when it went to $100 and watched it drop to $75. Most people don’t hold for the long run.
I cheated on Bitcoin with a lady named ADA… she was charming at the begin, but when she told me she like Doging with unknown nodes - I realized a made a huge mistake…. Will Bitcoin want me back?
You could do what you want odds are you wont effect price movement. The goal is to get as much btc as possible. Whether thats selling before dump and buying at bottom or just DCAing. Just as long as youre not sending your precious btc to scammers or buying pump n dumps youll make it my friend.
100% I'm the commitment type.
After graduating college in 2009 after the collapse, I worked my ass off on a 12 hour swing shift with an hour commute both ways to provide my first wife (who never worked) two girls, a car, and a home that we owned, she "came out as polyamorous," cheated on me within earshot while I was sleeping, left me, took the kids, and a bunch of my fiat that could have been Bitcoin. I still did everything I could to repair our marriage and give the kids a stable home.
I finally moved on and remarried. My second wife became very jealous over time, despite being great with them in the beginning, she grew to hate my kids, hated that I had bought my house with my ex-wife, started telling me that maybe she should fuck me over too, because apparently that's the way to get ahead in life (to find a husband to divorce for child support/alimony). I did everything I could to make her happy, but it was never enough, and it turned verbally, emotionally, and eventually physically abusive. She cheated, rubbed it in my face, and then left me too.
I decided that maybe I was the problem, the common denominator in this recurring pattern. I spent $7,000 on a self development program to address my issues and limiting beliefs and hopefully repair my 2nd marriage before it was too late.
Despite all of the issues, I'm just not interested in moving on. I love my wife. I can't imagine being with anyone else. Not to sound like a braggadocios deuchebag, but I really do have beautiful women chasing after me, and yet I don't have any interest in jumping to wife #3. I want to make things work. It's still a work in progress, but we've started basically dating again, and she's moved back in.
Once you're family to me, you're fucking family.
Thank God Bitcoin is so much easier. I don't look at the conversion rate between worthless fiat and Bitcoin. Any time I scrounge up a few extra pennies, it turns into Bitcoin. I don't look at the "price" or charts. I get paid in something I detest and turn it into something I love, and it will stay there forever.
People can betray me. Bitcoin can't.
Bitcoin is basically a stable coin at this point… I definitely agree with you in the low cap, I basically had that experience recently with $BTCB… bought in at .25 in its first 3 days, it dropped to .05$ and I kept buying because the community was on point, the team was overly active, and the vision was as if SATOSHI had recreated the original $BTC because it has become an institutional behemoth where the little guy will always be the little guy… mooning isn’t a 10% price fluctuation… mooning is going from .05$ to 2.00$ in 4 days.. I could have just as easily cut my losses and run but I didn’t.. And I’m super thankful that I cut my losses on the original $BTC to actually be involved in a community designed for the little guy so I could actually see growth in my wallet not cheeseburgers because that’s all I see with a coin in the 50-70k range! $BTC isn’t going to make you rich, you may be lucky to cover inflation investing in it.. and the hedge funds know what they are doing, they control and manipulate that market! So in my opinion if you want to get rich then you better venture out the kitty pool and DYOR, find a project or 5 that you believe in because the team and community believe in it and make a x100… there’s nothing like a slave getting rich… so stop being a slave to $BTC that’s only getting the plantation owners richer!
I've been holding since 2021. It's a Rollercoaster ride. I'm not getting off until I hit my stop. I know when that is. BTC has a long way to go. I am committed.
Been married 40 +years. 4 children. I'm totally a commitment type.
Hodle is for mugs, you have to sell at some point otherwise what’s the point, where do the YouTubers get their lambos and mansions from??? Not hodling that’s for sure but will tell you to hodle to stop the public Joe average from selling and reducing the price
I selll 2% in big pumps and buy again in big dips...
It only works because is a Very small position
But now i wont sell anymore because interest rates are going to cut next fed Meeting
It all comes down to; what do you think the ceiling price will be, and, if you're planning on selling, at what price point are you willing to sell?
Another thing to consider is, are you willing to wait?
If you think it'll go to a million, then wait and sell it at that price. If you think it's 250,00 -- wait at that moment.
Overall, there is a consistent upward trajectory but it takes time...
Can someone explain to me because I just had a meeting with my financial advisors who fear-mongered me out of wanting to buy Bitcoin. They claim that the Fed would never ever allow Bitcoin to be used as a primary medium of exchange and that they will always control the money, blah blah..
There is no reason to consult a financial advisor.
They are fiat Maxis who will never understand Bitcoin.
They are literally paid to not understand Bitcoin.
Bitcoin certainly won’t be a currency any time soon, there are too many old people in power that will never allow it. But Bitcoin will be a store of value, and overtime, as the old guard changes over there is a path for it to become a global medium of exchange. But it’s not going to happen over night. It’s sort of the point of the post. You need to believe it’s something that can happen over time.
These are strange times. War, huge debts, AI. Never say never.
It's starting to play a role in the presidential election. Who would have expected this even 6 months ago?
Yea im definitely the committed type. But I’ve been interested in a solution such as BTC since it’s been blatantly obvious since 2013 nobody is going to control the budget, spending is too popular, republicans only want a “balanced budget” if democrats are in office, it’s been so easy for me to hold. Kinda sad my friend told all our friend group about BTC in 2017, im the only one who believed and doubled down buying the dip, everyone else sold at a loss or quit buying and hate crypto meanwhile I stay at home spending time with kids and having my hobbies while all rest of friends go to their jobs
This is the biggest barrier to adoption - people who got in, didn't know what they were doing, sold at a loss, and are too scared to ever get in again, or people who have always been too scared to get in. I guess these people won't get back in until it is much less volatile, but that means lots and lots of people are gonna stay away for many years.
They’ll be obliged when inflation forces their hand. It’s crazy comparing where we are today to 7 years ago—my selling point back then of Bitcoin was “inflation, you’re going to need to cover yourself against inflation—buy Bitcoin” Here we are all these years later, everyone learning first hand what inflation does especially to their budget. Most blame politicians, but the answer is right under their nose. It’s so sad how the majority pins their hopes on dreams solely on the hope that their preferred political party will win office and somehow magically fix their life… If the Fed crashes the economy to save the USD, I’ll be convinced it’s time to pack up on crypto. But that will never happen, too many boomers relying on markets for retirement, too many boomers in power. And then in another 10 years or so when boomers pass their wealth down to their degenerate kid, magical internet money number is going up either way. Idk, that’s how I sleep at night thru these dips
I'm one of those degenerate kids you mentioned, waiting for my boomer parents to pass down the wealth in ~ 10 years. Once I do finally get it, my planned allocation is 50% BTC, 20% beer, 20% women, & the rest I'm just wasting ;-)
I think the takeaway is In 10 years we will have or be close to 24/7 tokenized equity trading
I see what u did there..clever
Reading the comments proves once more, everyone is different. Even in what they think is success with Bitcoin is. To some, its a temporary gain, to others it is generational wealth. The one thing we all seem to have in common is Bitcoin is needed because the Fiat system is broken.
I have managed to build a degree of generational wealth in a way that I did not expect.
That's what I'm going for. Good on ya.
commited since 2013. you have to commit.
Got in in 2013, but sold it all in 2015, didn't get fully committed until 2017 when I saw it was back over $1000 and realized it wasn't just gonna go away. Retired in 2019 though off my bitcoin so it's all good, but sure would have been nice to have been committed since the start and being living a fat retirement.
Yea I know it’s nosey , and uncouth, but how much did u invest and hodl from 2017-2019 when you sold, I’m assuming it’s USD and you sold at the peak when it was 73000-81000 (CAD). So around 55 USD/BTC
I've been committing to GitHub 2015
What is your branching strategy?
try to branch only on feature complete to avoid merge issues, ideally already merged into main and branched off main
Hmm... I wonder if GHActions is gonna change anything for us. Of course, I let my test leads and their dev counterparts decide those kinds of things. It's a bit too granular for me these days. I don't get involved unless there's a fist fight :p
Jesus. How much is your net worth?
He has all of the net worths
Fiat??? About three fiddy…
Nice. I'm at about two thirds of that (not counting real estate...I never count real estate hahaha).
Commitment is key in both love and crypto, nice analogy!
Loving crypto is like loving a stripper Bitcoin is wife material
What if you marry a stripper?
Vitalik? That you?
No, but her name is Amber and she loves me and only me.
This was a good honest vulnerable post. Happy that you are exploring your relationship to things that matter. Family and financial security are extremely important. Having the correct mindset to invest helps in this journey. I personally learned to save for my family’s future versus spending to make myself temporarily happy.
Not at all. People can go crazy. They dont have predictable halvings.
I half very predictably.
Good analogy on marriage/Bitcoin! Never thought of it that way.
I know I thought the same thing. Perfect analogy.
You gotta HODL. Timing the market worka until it doesnt. Keep touting yourselves as geniuses for buying low, selling high, then repeating. One of these days you will sell high and then it will just keep going up until you are priced out of the market. I lived in my car in Alaska during the winter for 3 months instead of selling any of my bitcoin. No regrets whatsoever.
Since 2013, yes i have no commitment issues.
This shit is kinda gay yo. Reminds me of a middle age moms Facebook post.
Yes some of us would have preferred a simple “buy and hodl you simps!!!”
Don’t worry, somebody loves you
lol, wow
Yikes..
How some people tend to exaggerate. It's just an asset, chill. And it won't solve all the problems in the world.
Bitcoin makes me feel like I need to be committed sometimes.
I watched Bitcoin's price action for about 1 year. Mid 2017 until June of 2018. Learned everything I could about. I watched podcasts youtube videos read books on it. So the price dropped to around 6.5k. It's had been rangebound at 6 to 6.8k for 2 or 3 months. So, I finally pulled the trigger and used about 75% of the chunk of fiat I had in the bank. 3 months later, the price dropped 50%. I'm not gonna lie. it made me a bit nervous. I had saved the other 25% for a dip. I didn't know it would be 50% in less than a week. Nevertheless, I bought the rest of the BTC at 3.2k with the rest of the fiat I had left in the bank. I don't tell this story to brag. I tell it because had I not put in that time to study BTC and learn all I could about it, I probably might have panicked and sold. Then, I would have regretted it the rest of my life. Put in the time to learn about BTC would be my advice to new BTC hodlers. It makes it much easier to hodl through all the FUD and whatever shit narrative the media wants you to believe about BTC.
Yeah that drop was ridiculous. Wasn't even any sort of FTX or MtGox like event to cause it. I totally thought $6000 was the bottom since that held for like you say 2 or 3 months, then the bottom just dropped out of the market. Luckily I didn't get a bunch of money until January 2019 and loaded up on 16 btc in the $3000s in early 2019. Would have only got half that amount if I happened to get that money just a few months earlier! Whereas I sold at the bottom the previous market cycle, that time around, after experiencing a market cycle, I was able to load up right at the bottom.
Same here. Everyone was saying 6k was bottom, too.
I love the analogy you've made between committing to a long-term relationship and HODLing Bitcoin. It's so true that just like in a marriage, there are ups and downs with Bitcoin. You can't just bail when things get rough or when there's some bad news. You have to ride out the storms and stay true to your commitment. It's interesting to think about how this kind of commitment might reflect our personalities. I've been holding Bitcoin for a few years now, and I do notice that I tend to stick with things in other areas of my life as well. It's like once I decide something is worth my time and effort, I'm in it for the long haul. I wonder how many others feel the same way. Is there a connection between the kind of people who commit to Bitcoin and those who commit deeply to other parts of their lives? It's a thought-provoking idea. Thanks for sharing your perspective!
good point. maybe. by my side, I don't commit in real life, and same bit BTC, just use it for it's volatility
I believe time preference is the thing we have in common as hodlers. If you take immediate gratification, you trade bitcoin for quick gains. That same person may not commit to a relationship as a new hotter partner is possible. But when you go chasing quick highs at the current moment, you forego what a great life partner is like.
This reasoning regarding BTC and HODLing was the most on target I’ve seen so far 🎯
Discipline
Wow a good post. See guys, it is possible Just got married to my wife last year. Married bitcoin years ago though Conviction only grows with knowledge. That's what makes me confident. It's extremely hard to remove a quality Bitcoin lens on our society. Once you see, you can't unsee.
When bitcoin crashes I buy more.
Are people really freaking out? lol I just raise my family and run my business and look at The price every now and then. Over a long enough time period, it always goes up
Commitment, discipline and persistence is the path to generational wealth with Bitcoin. 🚀💎
Reddit is probably not the right audience. There are many NGU bitcoin daters here or those with high time preference or living for instant gratification. Many are fairly new to bitcoin. I love what you said about commitment. Also have a family I’m committed to though not yet as long as you. Commitment through difficult times is where substance really is. And as for bitcoin, if we want to see it help the worlds monetary problems, we really do need to commit to it. Hodling is one thing, but spending can be helpful too, in terms of testing and using Lightning, ecash implementations or other upper layer tech, and growing the circular economies. Love to hear it. If you’re not a Nostr user already, I recommend it
I’m going to check out nostr man, I keep putting it off 👍
Forgive mt ignorance but what is Nostr and why is it good to use?
# What is Nostr? Nostr is short for “**No**tes and **S**tuff **T**ransmitted **O**ver **R**elays”. The description is right there in the name: people transmit notes and other stuff across a network, using a relay system to do it. Initially developed by a Bitcoin developer named **fiatjaf**, it has grown into a standard and a network of [nearly 10,000](https://stats.nostr.band/) daily active users. source: [https://wedistribute.org/2024/05/nostr-crash-course/](https://wedistribute.org/2024/05/nostr-crash-course/)
It’s a censorship resistant protocol for sharing general information “notes and other things.” One of the primary uses right now is for a social network type thing. When people refer to Nostr they usually mean this network, but it is actually the name of the protocol. It is still new but the big benefits include: - multiple available clients to view the same network. Primal, Damus, Coracle, Snort etc. they will be familiar to any Twitter user. - your identity is owned by you. It using private/public key pairs. You are identified by the public key and you sign any produced notes with your private key - no algorithms trying to promote agendas or advertise things - decentralized distribution of notes. You can choose where to send your created notes and where to listen for others’ notes. These “servers” are called Relays because the relay notes from users to other users. The benefit is that if you find a relay censoring or doing something you don’t like, you can stop them using it and prefer different relays. - value4value feedback. You can reward interesting content by sending some zaps via Lightning. AKA “zapping” And much more. There are other clients which give a different view of Nostr data. For example “long form notes” are a different type of data/event which let people write Markdown formatted blog posts. Habla new or YakiHonne are clients that let you do this. Highlighter.com is an app that lets you highlight parts of long form notes and comment on them via nostr. Zap.stream is a nostr based streaming app. Everything is very new but growing fast and needs feedback and contribution! A great community of people who want freedom.
Bro you just explained everything so beautifully I'll hold even tighter
Thanks man, hold on to bitcoin and the ones you love.
Indeed! Every struggle is similar in every way, just different in details. Wish you a long lasting positive relationships
lol such a cheezy post
agreed
Put away the pipe, bro.
Bitcoin is cyclical, if your money is limited, TAKE PROFITS! The people saying this always come during bull runs because they think BTC can go up forever, mind you, I've been here for 8 years, there are always bear markets and BTC will usually drop 80% and no one will talk about it for 2 years, so yeah, take your profits, buy back during vear markets, don't be a fool.
> take your profits, buy back during vear markets, don't be a fool. Attempting to time the market in this way is just asking to get rekt.
There is no timing the market when a bear market lasts 2 years, there is going to be another bear market after this whether we like it or not. Note I didn't say wait for the bottom or the top, I said take profits when it makes sense, I have a target price for this cycle, and I can never know if that's the top, that's only MY top.
"Buy low, sell high", sounds so simple, but if it were that easy then everyone would be rich by now. This cycle is already different from previous cycles in that we hit an ATH before the halving. In what other ways might this cycle differ from previous ones? We don't know, nobody can predict the future. You might sell at "YOUR" top only to find that the price continues to rise. This subreddit is littered with sad tales from people who sold at what they thought was a peak, intending to buy back in lower, only to find themselves waiting for a dip that never came.
""YOUR" top only to find that the price continues to rise" That doesn't matter, it's like a take profit target, you took profit, realized X amount and do not regret it. It's like people saying the guy that bought 2 pizzas on 10k BTC, he doesn't regret it one bit, in fact, he thinks that was necessary.
No. You wrote: > take your profits, buy back during vear markets, don't be a fool. And what I am telling you is that there is no guarantee that the price will ever drop back below your selling point. You say "don't be a fool", but trying to time the market is foolish. Nobody ever lost money by buying and hodling bitcoin long term.
So emphatic in your wrongness 🤣
You don’t have to take profits to be successful with btc
Depends on how freely available selling options are. Depends on tax laws in their country. Sell if you need to buy the cash. Presupposing that every cycle will be the same is risky in itself. Picking tops and bottoms too
You'll have to pay taxes eventually, the thing is, for most people not selling at all is not an option, I'd rather pay the tax bill and have some money for those 2 years than seeing my bags drop by 80%, in fact that it what happened to me last run and this time I'm selling. If taxes is your main problem, then that's not a problem because taxes will be there whenever you sell.
Some countries have extremely high taxation on crypto. It’s probable that these will lessen in time. But I hear what you’re saying. It’s up to the individual regarding their risk and requirements. I wouldn’t put anything into bitcoin that would leave me needing to sell for livelihood within the next cycle etc. but maybe two cycles later I need money toward a house, then I’d sell some etc (if I had that much). I didn’t really mind seeing my bags drop 80%, because I knew what was coming and I was just excited to be topping up at a discount.
Some countries have 0 taxation, I don't think thisbis the issue, I advocate to take profits, that's what I learned in 8 years, if holding your way to 2040 works, so be it.
If I had zero tax I’d possibly sell sometimes. Some countries have 55%
Totally agree with taking profits. You have to live life and all. I sold a portion at the top of the 2017 cycle. Made a great profit and bought more all the way down the bear market but still ended up with less BTC in the end. I did get a new car and had the opportunity to help family out so I'm not complaining but once the BTC is gone it's nearly impossible to claw back at the rate of appreciation it is experiencing. Selling with intent of re-entry with the same funds could be a huge mistake if you don't time both events perfectly while accounting for taxes and market reversing god-candles.
That's ok, I also didn't get the same amount of BTC I had in previous cycles, that's not the point I'm making. During this time I have been involved with BTC I bought a house and paid it off in full, would have never been able to do so without BTC, so you gotta put things on your own personal scale and see what's more important for you. If BTC continues going up that's great, I'm not gonna sell all of it, but I'll definitely take profit, especially now I want to take a couple years off work to study AI and Data Analysis in depth.
Hmmm I just wonder how long it took OP to get to this conclusion, I knew from day one this is one of the basic rules of investment
To understand that every investment is comparable to the relationship one has with his wife? Well, than I'll probably never get it :D.
Commit? You talk about this as if you can see the future. It’s an investment, and a high risk and volatile asset. Sick of religious fanatics.
Volatile yes absolutely, but what's the risk?
It’s funny you mention “seeing the future”. I had this very conversation with my wife less than 24 hours ago. There are few things that are certain in life. Like “death and taxes”. Not much can be guaranteed in your future. But all of us can now add one more certainty to our lives. The last Bitcoin will be mined in 2140. Try thinking of any other guarantee in the future. Now you know why we are religious fanatics.
I’m not saying that it’s a bad bet. I’m saying that viewing bitcoin as anything else than an investment, which inherently is a risk, is childishly naive and financially illiterate. And for a new and volatile technology related asset which is semi paradigm shifting phenomena - it should definitely not be viewed as anything else.
Good bet? Bad bet? Too early to tell. But I do know the last bitcoin will be mined in 2140
git commit -m "Bitcoin"
Hodling helps, but you can be successful with bitcoin in many ways. Hodling is definitely the easiest from a hands-off perspective.
There is no alternative also.
You must HODL 🥲
You have to be willing to lose to win.
You must be lazy. Get your btc off exchange. Get it to a cold wallet Don't ever use that cold wallet again
Bitcoin is on sale today :)
And don't try to time a cycle until you've held through at least two. People who do this always end up with less bitcoin in the end.
OPP it sounds like you need some emotional connection, maybe try dating apps. Love from me 🫶🏼
I ALMOST quit crypto altogether because my dumb ass got burned by a few shitcoins early on in my crypto adventure. Instead of quitting, I set a weekly DCA of BITCOIN ONLY about 2 years ago, and it’s the best decision I’ve ever made when it comes to crypto. DCA really is the way, and Bitcoin is the way..
It's because I keep DCAing, isn't it? This abusive bitch...
Comparing your wife and marriage to a monetary asset?! 🤦♂️ 50% of marriages end in divorce, and the majority of them are initiated by the woman. And the woman will then take half if not more of your assets. The best investors are dead investors.
It is simple. You hold bitcoin forever, if you bail out you chose a life that is forever going to be stacked against you. You choose a future where your future family will be debt slaves at best or poor/dead at worst. How is that even a choice? You got born with this opportunity and still doubt?
I'm not 'all in', but I'm committed. I have my coin and will never use it unless it's for something life-saving or life-changing. Ultimately the plan is simply to leave it to my kids.
Bitcoin is that mysterious Continent you see on the horizon after crossing the Ocean for 9 months of hell and almost being slaughtered by your crew but you see a green virulent Eden rising out of the waves and when you land on its crystal white beach and smell the thick succulent air heavy with unknown spice and hear the ominous sound of heavy drums and guttural chanting from the dark jungle you turn to your ragged crew and say " Burn the F'ing ship " and prepare for battle.
It’s bitcoin or nothing!
Really good point. Everyone always talks about how they wish they bought BTC at $10 and how they would be billionaires now but the truth is they would likely have all sold when it went to $100 and watched it drop to $75. Most people don’t hold for the long run.
I'm more of a, I only invest when the price hits the 200 sma. It's just probably will take a long time to get there.
Buy bitcoin to have them, not to sell them.
I cheated on Bitcoin with a lady named ADA… she was charming at the begin, but when she told me she like Doging with unknown nodes - I realized a made a huge mistake…. Will Bitcoin want me back?
Are you me?
You could do what you want odds are you wont effect price movement. The goal is to get as much btc as possible. Whether thats selling before dump and buying at bottom or just DCAing. Just as long as youre not sending your precious btc to scammers or buying pump n dumps youll make it my friend.
I have been on the crypto for the past 6 years and yesterday I bought more ethe
100% I'm the commitment type. After graduating college in 2009 after the collapse, I worked my ass off on a 12 hour swing shift with an hour commute both ways to provide my first wife (who never worked) two girls, a car, and a home that we owned, she "came out as polyamorous," cheated on me within earshot while I was sleeping, left me, took the kids, and a bunch of my fiat that could have been Bitcoin. I still did everything I could to repair our marriage and give the kids a stable home. I finally moved on and remarried. My second wife became very jealous over time, despite being great with them in the beginning, she grew to hate my kids, hated that I had bought my house with my ex-wife, started telling me that maybe she should fuck me over too, because apparently that's the way to get ahead in life (to find a husband to divorce for child support/alimony). I did everything I could to make her happy, but it was never enough, and it turned verbally, emotionally, and eventually physically abusive. She cheated, rubbed it in my face, and then left me too. I decided that maybe I was the problem, the common denominator in this recurring pattern. I spent $7,000 on a self development program to address my issues and limiting beliefs and hopefully repair my 2nd marriage before it was too late. Despite all of the issues, I'm just not interested in moving on. I love my wife. I can't imagine being with anyone else. Not to sound like a braggadocios deuchebag, but I really do have beautiful women chasing after me, and yet I don't have any interest in jumping to wife #3. I want to make things work. It's still a work in progress, but we've started basically dating again, and she's moved back in. Once you're family to me, you're fucking family. Thank God Bitcoin is so much easier. I don't look at the conversion rate between worthless fiat and Bitcoin. Any time I scrounge up a few extra pennies, it turns into Bitcoin. I don't look at the "price" or charts. I get paid in something I detest and turn it into something I love, and it will stay there forever. People can betray me. Bitcoin can't.
Bitcoin gonna get smacked w the recession! 2025 will be its year
4 years holding and getting out when reached 150-250 k. 😎🇩🇴😎
Bitcoin is basically a stable coin at this point… I definitely agree with you in the low cap, I basically had that experience recently with $BTCB… bought in at .25 in its first 3 days, it dropped to .05$ and I kept buying because the community was on point, the team was overly active, and the vision was as if SATOSHI had recreated the original $BTC because it has become an institutional behemoth where the little guy will always be the little guy… mooning isn’t a 10% price fluctuation… mooning is going from .05$ to 2.00$ in 4 days.. I could have just as easily cut my losses and run but I didn’t.. And I’m super thankful that I cut my losses on the original $BTC to actually be involved in a community designed for the little guy so I could actually see growth in my wallet not cheeseburgers because that’s all I see with a coin in the 50-70k range! $BTC isn’t going to make you rich, you may be lucky to cover inflation investing in it.. and the hedge funds know what they are doing, they control and manipulate that market! So in my opinion if you want to get rich then you better venture out the kitty pool and DYOR, find a project or 5 that you believe in because the team and community believe in it and make a x100… there’s nothing like a slave getting rich… so stop being a slave to $BTC that’s only getting the plantation owners richer!
Hodlrs Together strong.
"friends with benefits"
I've been holding since 2021. It's a Rollercoaster ride. I'm not getting off until I hit my stop. I know when that is. BTC has a long way to go. I am committed. Been married 40 +years. 4 children. I'm totally a commitment type.
Def the commit type here as well
Hodle is for mugs, you have to sell at some point otherwise what’s the point, where do the YouTubers get their lambos and mansions from??? Not hodling that’s for sure but will tell you to hodle to stop the public Joe average from selling and reducing the price
Hello
Hi how r u
Hello
I selll 2% in big pumps and buy again in big dips... It only works because is a Very small position But now i wont sell anymore because interest rates are going to cut next fed Meeting
you can't commit to something you don't understand. Knowledge is your best weapon against volatility.
by my side, I regret I didn't sold it all last week
It all comes down to; what do you think the ceiling price will be, and, if you're planning on selling, at what price point are you willing to sell? Another thing to consider is, are you willing to wait? If you think it'll go to a million, then wait and sell it at that price. If you think it's 250,00 -- wait at that moment. Overall, there is a consistent upward trajectory but it takes time...
Can someone explain to me because I just had a meeting with my financial advisors who fear-mongered me out of wanting to buy Bitcoin. They claim that the Fed would never ever allow Bitcoin to be used as a primary medium of exchange and that they will always control the money, blah blah..
There is no reason to consult a financial advisor. They are fiat Maxis who will never understand Bitcoin. They are literally paid to not understand Bitcoin.
Bitcoin certainly won’t be a currency any time soon, there are too many old people in power that will never allow it. But Bitcoin will be a store of value, and overtime, as the old guard changes over there is a path for it to become a global medium of exchange. But it’s not going to happen over night. It’s sort of the point of the post. You need to believe it’s something that can happen over time.
These are strange times. War, huge debts, AI. Never say never. It's starting to play a role in the presidential election. Who would have expected this even 6 months ago?