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That is some dumb shit and not only should you feel silly you should feel stupid for saying it. If you buy anything at $X with intention of "hodling" it to inc

That is some dumb shit and not only should you feel silly you should feel stupid for saying it. If you buy anything at $X with intention of "hodling" it to increase it's value, unless you have a plan (i.e. I will sell at $Y) then you are just holding on to nothing. You will either sell too early or too late (now talking about the absolute maximum gains) and then you will always "feel silly". Unless OP actually put in, say $300k (a price of a small house) and that was stolen he didn't lose "a house worth of money" since he had no exit plan. I don't play crypto, but I could still say that I lost $600 when the market crashed couple weeks back conveniently forgetting that my initial investment was only $10 back in the day. I could even be more dramatic and say that I lost half of my bitcoins just in the crash and not mention that I only had $1.2k.

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KronisLV 5y ago
> If you buy anything at $X with intention of "hodling" it to increase it's value, unless you have a plan (i.e. I will sell at $Y) then you are just holding on to nothing. I don't think that's holding on to nothing just because there's no exit plan in place. If I invest 30k in index funds that are managed by my bank, with the expectation that the value will rise and thus beat inflation, i wouldn't say that I'm holding on to nothing. Similarly, if the value would rise to 35k over time, but something (like an economical crash, or any reason) would have me withdraw my money before that, I think it would be fair to say that my actions made me miss out on the total value of 35k. I don't see how the case of Bitcoin is that much different - most people won't have sold at its highest point, but the average value has indeed increased bunches compared to when it was not popular. I don't think you always need an exit strategy for every investment you make - wanting to diversify and perhaps beat the inflation seem like valid goals, regardless of whether you're putting money in index funds, are buying BTC, or are burying pots of gold in your back yard. Volatility and risks are probably another story, though.

deleted 5y ago

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KronisLV 5y ago

> If you buy anything at $X with intention of "hodling" it to increase it's value, unless you have a plan (i.e. I will sell at $Y) then you are just holding on to nothing. I don't think that's holding on to nothing just because there's no exit plan in place. If I invest 30k in index funds that are managed by my bank, with the expectation that the value will rise and thus beat inflation, i wouldn't say that I'm holding on to nothing. Similarly, if the value would rise to 35k over time, but something (like an economical crash, or any reason) would have me withdraw my money before that, I think it would be fair to say that my actions made me miss out on the total value of 35k. I don't see how the case of Bitcoin is that much different - most people won't have sold at its highest point, but the average value has indeed increased bunches compared to when it was not popular. I don't think you always need an exit strategy for every investment you make - wanting to diversify and perhaps beat the inflation seem like valid goals, regardless of whether you're putting money in index funds, are buying BTC, or are burying pots of gold in your back yard. Volatility and risks are probably another story, though.