HODL’rs Are The Founding Fathers And Mothers Of Bitcoin
Hey Jessatoshis
I've been a HODL'r for many years, I haven't sold Bitcoin in years, I don't plan on selling it, and even if I did, it's such a mission to get it out of cold storage by the time I get it out it would be a waste of time to catch whatever pump there is, to me all these ups and downs are pointless. I only care about the downs to secure more satoshis for my shitty fiat I can earn.
Bitcoin has been on a rampage since its $3000 lows after the last bull runs, peaking out at over $65 000 before retracing and kissing that $30k line. To seasoned Bitcoiner like myself didn't make an inch of a difference, apart from me jumping in several times to catch these dips.
But I realise for others this is a rip and dip that can sour their experience of Bitcoin, or worse, rek them completely.
Bitcoin is a HODL'rs game
Bitcoin, to me, is going through the adoptive stages of money. First, It was a fun collectable, and most things stop there. Then as it grew, it became a store of value; many are hoping it will become a medium of exchange in the future. They see this as Bitcoin fulfilling its promise and potential, which is what many HODL'rs want too.
Instead of having to convert your Bitcoin into fiat to spend it, being able to spend your Bitcoin directly will unlock boundless possibilities for e-commerce and local commerce.
But that dream is still a way away; Bitcoin still needs to reduce its volatility by many factors before it has the stability to be a medium of exchange.
This is where HODL'ers come in; as more supply is clawed off the market, the price moves up, the more the price moves up, the more people come in.
The more people come in, the more distributed the currency becomes, the more distributed the currency becomes, the more liquidity.
The more liquidity and the larger the market cap, the easier it becomes a medium of exchange.
Shitcoin holder's don't understand this process, and when Bitcoin does reach this next phase, in the 100 - 200 trillion market cap, it will all make sense.
Trying to be decent money in an indecent time
Most people have never had decent money, and Bitcoin is trying to be decent money in a time of indecency. So it looks ugly, it looks stupid, it looks clunky because it's following the path that no one dared to follow.
It's not the money we deserve, but the money we need, the silent guardian of our purchasing power, a watchful protector of those who adopts it.
HODL'res realise this; they are those who are willing to take the hits, they are willing to be unpopular, they are willing to lose money short term on paper. They are willing to make sacrifices; that's what the founding fathers had to do when they moved to the new world.
Bitcoin is the new world for all of us, and HODL'rs are the ones laying the foundation and making the unpopular decisions that will become common knowledge shortly.
I hope I am alive for the day that thinking like a Bitcoiner, actually becomes common sense.
Have your say
What do you good people of HIVE think?
So have at it, my Jessies! If you don't have something to comment, "I am a Jessie."
Let's connect
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You will never really need to sell BTC either and just borrow against it if you need the cash to spend in the fiat world. I like the viewpoint of the world through the BTC standard where people would say the price of BTC is volatile from a fiat standpoint, it's actually fiat that's volatile against BTC.
It's amazingly simple to HODL yet so difficult. If you got in at the top in 2017/2018 like I did, saw losses on paper up to 85% but just held, you are up... Only had to wait 3.5 years. Just have to remove emotion from the game and make it difficult to do impulsive actions with cold storage.
Since we don't have alot of capital it means we NEED to do our research and NEED to remove emotion, we have a much smaller room for errors. People are employing VC approach investing, passive investing index fund and just billionaire maverick style investing because they think if it works for the rich guys it can work for me
Doesn't work like that, I don't have old money, but I am building new money and new money doesn't need trust, doesn't need friends, doesn't need bailouts, all it needs is to be kept safe
Yep, keeping it safe is something that scares a lot of people as looking after their own money in digital form is an alien concept as they've just had the bank custody money for them and there's been no other way until BTC came along. If you are good at admin then looking after one extra set of words or string of text shouldn't be a tall order.
But hey, after my conversations with a few folks here in the UK, who wants to put in the work to look after their finances these days? 😏
I like the hodler mentality. It's something I'm working on developing.
Rigth now the world is out for immediate gains, and you can't blame anyone really, the economy is dying on a daily. The long term hodlers are the ones keeping the system afloat.
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I totally agree with you, it's all about what you can grab before the whole thing comes crashing down, I don't blame anyone they all acting rationally in their own self interest, I just don't see how it ends in a good note. Eventually we have to feel the pain of a total correction
Yeah, everyone feels the pain in the end. Whether you're taking immediate profits or none at all.
"Most people have never had decent money, and Bitcoin is trying to be decent money in a time of indecency."
Pretty much describes our world. When most people are insane, the truth looks crazy. When most men are liars, the honest man is despised. !BBH
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It's not what you don't know that lands you in trouble, its what you know that ain't so that lands you in trouble.
I've always been a bit of a contrarian, and Bitcoin seems to be the one thing that backs a lot of the way I think
Because this is such an awesome post, here is a BBH Tip for you.
. Keep up the fantastic work
I am thinking that I won't even be ready to touch my BTC until we get to at least that $300k mark. Then I might seriously consider spending some. Actually, I take that back. Since I don't even own .5 BTC it will likely need to be a bit higher than that before I consider selling. I guess I just keep hodling for now. I should really get all of mine moved to cold storage so I don't get tempted!
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I hope to push my BTC stacking as far as possible without really having to be tempted for me that money is actually non-existent, I work to sustain myself and the rest gets dumped in my BTC blackhole. I wonder what value I'd be tempted to use it, I think 300k seems like a tempting zone, lol well see
I think a lot of people will be tempted if we get to that point. It seems to be a good plan to just throw it in an account and kind of forget about it for the time being.
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The bigger the market cap, the better the liquidity it is. If you are in a shit coin, then liquidating will give you a horrible spread and you will lose quite a bit of money. But with something bigger like BTC or ETH, people can liquidate more without affecting prices which opens it up to a bunch of oppportunities.
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Yeah well most of us cannot tank many of these shit coin markets with our positions others can, and honestly, I am not too keen on getting into that gamble. I have goals and trying to moon on a shitcoin isn't really my style, I honestly think a lot of it is decentralised theatre and is no better than fiat