$55,116.78 -7.18%
BTC · 3w

It isn't hard to HODL Bitcoin when you truly understand it.

I got into Bitcoin back in 2019, my first purchase was around $7.000,00. I was a newbie, asking question on this sub (thanks a lot to those that helped me learn about wallets, segwit, private keys, etc...) and trying to understand as much as possible. When I read what strategy to follow, most people said to just buy Bitcoin and HODL it. I didn't believe at first, it can't be that easy right? It must have some deeper secret, maybe learn to day trade, graph analysis, so many people panic sell when the price dips, it must be hard to do that, right? But months passed, a few dips along the way, never felt the urge to sell, I just kept buying. (tried to day trade but failed and gave up lol) Then the Covid crash back in March 2020 came, I think I was 70% to 80% down. Still, never came into my mind to sell it, I actually bought more. I realized that there is no secret to it, we like to complicate things, but it just that plain simple: **BUY & HODL.** But it is simple only when you have the right mentality for it. If you don't understand Bitcoin and why you have it, you will end up panic selling. So here's a few tips that helped me along the way: 1. **Truly understand what Bitcoin is.** It gives you true freedom, sovereignty over your wealth, a digital monetary revolution with fixed supply that can't be controlled, inflated or manipulated by a government or a corporation. It's harder for people that live in developed country to understand this, but we from third world country like Brazil, Argentina, Venezuela, Zimbabwe, that have our currency rekt, understand that very well. 2. **Know your Time Preference.** What is your moon? Why and when you will want to sell it? I will never sell, *Bitcoin is the most scarce asset of the world*. When I need fiat money, I will borrow against it. So it doesn't make any logical sense to panic sell in a dip when I'm in for the long game. *(book recommendation: The Bitcoin Standard)* 3. I never invested on the stock market, whereas 10% to ...
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