Monday, 30 October 2017

People just don't get the hodl mentality.


Whenever someone is first getting into cryptos and asks me how/where to buy bitcoin, without even looking at current events/market situation, I tell them to hold on. Not holding as in "hodl", but holding themselves to make impulsive decisions based on current events.The reason I have held bitcoins for so long is safety, peacefulness and inertia. I know many of the people wants to be active, they want to be trading and get rich but you have no advantage in crypto market over fiat market exchanges.Also getting in with all of your money is a terrible idea that will get you panicked in any of the down swings which will make you "move". Which is against the inertia concept. Those coins to me are meant to sit there. I know a lot of people are working on small transactions with bitcoin but currently I cannot care less.I live in a country where things are not as good as developed countries. Right now I am as safe as I ever could be in anywhere in the world, but I cannot count on that forever. Bitcoin gives me the safety of crossing the borders with only a few words in my mind or encrypted into my dresses. That is why it is a bad idea to have impulsive reactions on news like "bitcoin is gonna be 100 000". It is fine. It can be or it cannot be. You are not missing any train. If you have any form of money, just feel good that you can now keep it in your mind. Safe and sound. via /r/Bitcoin http://bit.ly/2yXLfHu

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