Coin-Holding Rules:
1. Those who can truly make big money in the crypto world are not the traders, but the hoarders.
The key is how many coins you have, not the current market price fluctuations...
Those who hold onto coins in the crypto world have three basic elements:
1. When holding coins, use spare money for investment, not all in; if the market does not meet expectations and you need the money, you will only have to endure the pain of cutting losses.
2. Hold coins, have a value belief, and learn more about the project founder's intentions, ideological consensus, underlying technical strength, ecological construction, future value, etc.
3. Hold coins, remain unperturbed; in the face of future value, do not care about short-term price fluctuations, but rather, care about how many coins you can hold when future value is revealed.
2. Consensus:
How do consensus holders settle down?
In countless ups and downs, all speculators have been eliminated, and ultimately only the consensus holders remain!
Bitcoin was worthless at first, but after 10 years of countless ups and downs, it kicked out speculators and non-believers, ultimately solidifying a massive consensus, thus it became valuable!
Ethereum was worthless at first, but after 5 years of countless ups and downs, it kicked out speculators and solidified a consensus, thus it became valuable!
Essential elements for playing with coins:
1. No wild price increases, no worries about price drops;
2. Do not complain, do not get entangled;
3. Big picture, good mindset;
4. Do not chase prices, do not panic sell;
5. Buy on dips, hold onto coins;
6. Compounding mindset, maintain it;
7. When the bull market comes, the returns follow;
8. Spread more, high value;
In the blockchain coin world, if you want to turn things around, do not fuss over short-term gains and losses; in the blockchain industry, where the tide washes away the sand, if you want to make big money, do not get off the bus. To increase the coin's value continually, you must keep learning! Consensus + belief = the value of coins!
How to better hoard coins?
People in the crypto world can be roughly divided into two categories: those who rapidly enter and exit the market, and those who are long-term holders of Bitcoin in a Zen-like manner.
Compared to those who chase prices and engage in short-term trading and contracts daily, hoarders are a niche presence in the cryptocurrency world.
They ignore the market noise, focus on the true long-term value, and regardless of market fluctuations, they firmly hold their positions, continually increasing their hoarded coin quantities. Relative to price fluctuations, they pay more attention to the increase in quantity. They are true 'coin-oriented'.
Speaking of the previous group of Bitcoin hoarders, if they have persisted in holding for three to five years until now, their wealth has generally increased significantly. In a world where cryptocurrency prices fluctuate so much, and with so many external temptations, their ability to remain calm is not merely due to luck, but rather their profound understanding of Bitcoin and their mature investment philosophy, which justly earns them their wealth.
So how can one better hoard coins? As a seasoned hoarder, I will briefly discuss the considerations we generally make before hoarding coins.
1. Choose coins carefully
Choosing the right coin is of utmost importance. It's like a running competition; only by choosing the right direction does it make sense to persevere.
There are a vast number of types of tokens in the cryptocurrency market, often dazzling and making it hard to commit. However, based on our long-term research and investigation, we have found that there are very few coins truly suitable for hoarding. It cannot be said that only Bitcoin is suitable for hoarding, but I estimate there may be only 2-3 coins that are suitable, and if we relax the criteria a bit, maybe 3-5. So the key question is whether you have the ability to identify these 3-5 coins from thousands of tokens.
If the coin you are hoarding is the right one, then time is your friend. As time goes on, your wealth will slowly ferment, prices will gradually rise, and you will experience the feeling of gradually becoming rich, the power of compounding, and the beauty of growth.
However, if the coins you are hoarding are the wrong ones, this will mark the beginning of a nightmare. The longer you hold, the greater the loss. You will not only fail to generate wealth, but your existing wealth may also be depleted, and you will have to invest a lot of effort and endure much suffering. After this ends, you may also experience intense self-doubt.
2. Hoarding coins cannot be viewed as the only source of income.
Hoarding coins is not a one-time process. Most people do not hoard coins simply because they suddenly have a sum of money and find that the market timing is perfect, so they buy a large amount and then ignore it. For many, hoarding coins is a long process, possibly involving continuous dollar-cost averaging during a prolonged downtrend or while the price stays within a certain range, accumulating their chips. For these individuals, hoarding coins is a very long process, which requires you to have other business income, or in professional terms, a continuous cash flow.
Can you guarantee a continuous cash flow? This is the key to whether you can truly settle down and engage in the practice of hoarding coins. If you have other things to do besides hoarding coins, and you have a continuous cash flow, then the impact of hoarding coins on your quality of life will not be so great. When there are drastic price fluctuations, you will be able to remain calm; if hoarding coins is your only activity, and you have invested a large amount of money into it, while also lacking other sources of income or cash flow, then hoarding coins will take up a significant portion of your life. Any small change in price can greatly affect your mood.
Never simply hoard coins; when hoarding coins is the only thing you are doing, the process of hoarding does not feel so wonderful. This is because it holds all your hopes, and you will always find it hard to control your inner self, wanting to check the price from time to time. Each glance at the price, the fluctuation of numbers stimulates the brain; once or twice you may still be able to control it, but after seeing it many times, the increased stimulation will eventually push you to take some action.
To solve this problem, there are generally a few specific auxiliary methods: 'Delete all market tracking apps from your phone, do not bookmark exchange websites, do not save any accounts or passwords, and keep the Google Authenticator on another phone that you do not use regularly and keep it turned off. This way, even if you suddenly want to check the market, you will need to redownload the app or open the website, re-enter your account and password, charge the phone, turn it on, and then enter the Google two-factor verification, which will be quite troublesome, reducing the frequency at which you check the market.'
3. Should you participate in Staking?
While not all cryptocurrencies have a Staking mechanism, for those that do, whether to participate in Staking while hoarding coins is also a question that needs consideration.
Although I have always been skeptical about the Staking model, I believe that the inflation model of Staking ensures that the project does not have long-term investment value in the long run; its locking mechanism uses the losses of the majority to exchange for the gains of a few!
However, there are indeed many cryptocurrencies with Staking mechanisms currently. This is a reality. If you really intend to hoard coins long-term, without doing short-term trading, and without cashing out during a bull market, then letting them sit without participating in Staking seems a bit wasteful. In this case, I believe participation is acceptable. However, it must be ensured that this Staking is done in your wallet, not on an exchange, meaning you must keep your private keys secure. This way, you can avoid the risk of centralized exchanges running away. Do not participate in Staking where your private keys are not under your control; there’s no need to lose big for small gains.
4. Do not stop researching this cryptocurrency.
Even if you have hoarded a large quantity of coins, generally speaking, important considerations regarding the investment should have already been made beforehand; the next step is just to wait. However, I also recommend that you do not stop researching this coin.
Everyone's understanding is continuously improving, requiring a long time of refinement and deliberation to truly mature. Moreover, all coins face market competition; since even the strong Bitcoin faces competition from BCH, BSV, and other cryptocurrencies, the coin you are hoarding also faces constantly changing competition and development, and its fundamentals may slowly change, especially in such an early stage of the industry where most cryptocurrencies do not have such obvious moats. Continuous attention is essential.
Moreover, I strongly suggest that when hoarding coins, you record all your thoughts and strategies regarding hoarding coins in writing, just like how ahr999 wrote (Hoarding Bitcoin). This way, on one hand, it can enlighten future readers; there will definitely be some people who share your optimism about this cryptocurrency and may also want to hoard it. Your article can provide great inspiration to them, and you will meet many fellow travelers and receive plenty of effective feedback. More importantly, you can clarify your thoughts during the writing process, and revisit them from time to time, especially when you experience fluctuations in confidence about hoarding coins in the future. You can look back at your original intentions and see if the logic of hoarding coins has changed, and whether the fundamentals have changed. All of these are extremely important.
5. Participate in project entrepreneurship
If besides hoarding coins you have additional resources and a strong entrepreneurial spirit, then I strongly suggest you engage more deeply in blockchain entrepreneurship.
Currently, looking around, the main force of entrepreneurs in the blockchain industry is mostly made up of the earlier participants and hoarders, who have a deep understanding of blockchain and cryptocurrency, and hoarding has brought them considerable wealth.
If, besides wealth, you are also willing to create more value for society, you can participate in blockchain entrepreneurship and industry construction, such as previously opening exchanges, creating wallets, opening mining farms, or building public chains. There will still be many opportunities in the blockchain industry in the future. After all, entrepreneurship is the source of vitality for the development of the entire industry and is the foundation for pushing the entire industry forward. Hoarding coins and entrepreneurship can proceed simultaneously, which is also a very good combination. Moreover, you can gain more influence, value, and sense of achievement in addition to wealth, while your understanding of this cryptocurrency will further deepen through entrepreneurship.
Still the same saying, if you don’t know what to do in a bull market, click on my profile, follow me, and I will share strategies for spot trading and contract trading in the bull market for free.
I need fans, you need references. Guessing is not as good as following.
