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Hodlers? Crypto folks

Discussion in 'Non-Vegas Chat' started by LVisBeautiful, Apr 2, 2021.

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  1. LVisBeautiful

    LVisBeautiful High-Roller

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    2 years ago, 2018, I was in Vegas and my daughter suggested we gamble on something else while we were there, a few researched crypto altcoins it was pretty much a dud, dropped as soon as we left. I chalked it up to, would have been in a machine anyhow..

    Then the last few weeks happened. Woot!

    How's it going for you?
     
  2. Travel Fanatic

    Travel Fanatic The Arbiter of Taste Caviar Kid

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    What's a hodler?
     
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  3. bluesdude

    bluesdude VIP Whale

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    Yeah, on some subjects I am older than I care to admit. This is one of them. Can you explain a little more on what you are talking about? Thanks.
     
    Dead & Co with my son! June 4 or 5th - June 8th
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  4. iviicrociot

    iviicrociot Low-Roller

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    Someone with diamond hands.
     
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  5. LVisBeautiful

    LVisBeautiful High-Roller

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    HODLER = Holding On for Dear Lifer - in other words, don't sell
     
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  6. Travel Fanatic

    Travel Fanatic The Arbiter of Taste Caviar Kid

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    lol, thanks. This explanation is another reason why I don't make investment decisions based on memes :goofy:
     
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  7. Travel Fanatic

    Travel Fanatic The Arbiter of Taste Caviar Kid

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    I think he is saying he bought some crypto coins with money he would have otherwise donated to a slot machine and now he's excited because a lot of cryptos have had a nice run up in value.

    From my perspective, the real question is whether @LVisBeautiful is ready to cash out yet (I'm guessing no; thus the "hodler" reference). This instance actually presents a good example any investor can learn from: the effect of greed and/or fear driving a market. You haven't actually made anything until you sell something. But if you sell too soon, maybe you're missing out on future increases in value. All I can say is that its not a strategy I would follow, but I do wish you the best of luck :thumbsup:
     
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  8. bluesdude

    bluesdude VIP Whale

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    Thank you @UKFanatic and @LVisBeautiful for the definition and explanation. I now feel a little smarter and not as old! :thumbsup:
     
    Dead & Co with my son! June 4 or 5th - June 8th
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  9. LVisBeautiful

    LVisBeautiful High-Roller

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    Thank you, and no, not selling anytime soon, and yes, I'm holding on for dear life - Not cashing out anytime soon, going to ride this rocketship to the moon, also, not a guy, just a huge fan of The Hangover. Maybe I should change my profile pic, hahaha.

    I have tolerance for market uncertainty, It's watching the first and best season of a new show on Netflix, turning it off, and never going back, because its downhill from there. Its a tough way to live, but you get used to it.
     
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  10. NotFromConcentrate

    NotFromConcentrate It’s a Cassowary :)

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    The origin of the term was actually a drunken post on BitcoinTalk in December 2013 in which a poster declared "I AM HODLING" regarding the status of his Bitcoins. It's been a bit of a running joke in the crypto world ever since :)

    For work, I was involved in crypto for a few years, so I get your main question pretty regularly from people. I don't currently have any crypto holdings for a number of reasons... but one of the main reasons is that most of these altcoins have no realistic use case. I observe the markets from time to time and see shifts such as the recent ones you've mentioned that were positive... and it's really just a reflection of supply and demand based on perceived value. Certain cryptos such as Bitcoin and Ethereum do have some "backbone" to them in my opinion because of the established communities of people who actually use these coins (especially in the case of apps built on Ethereum, where you need to use ETH to pay transaction fees). I also believe CRO has some basis to it because of the role it plays in relation to the Crypto credit card. But for altcoins, I can confidently say "I've seen this movie" several times over in terms of their respective propositions and campaigns surrounding them. One absolutely can make money buying and selling these things... but it really is gambling at the end of the day, if you ask me.

    I have considered playing around with the current hype because I've become familiar with how to predict the cycles of these things. But very honestly, as a gambler I am not confident in my ability to do so in a disciplined way.
     
    [TENTATIVE Late Jul/Early Aug] Vegas by way of Chicago/Elko/Reno!
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  11. pressitagain

    pressitagain VIP Whale

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    Congrats if your crypto is up from its original purchase price.....

    The crypto world is definitely creating a buzz. For how long? Is it sustainable? Those are a couple of the questions that people need to ask themselves before investing their hard earned money.

    I have ZERO need for it. If you’ve got some....to the moon.....
     
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  12. Golfer

    Golfer Well-Known Member

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    I'm a long term HODL of BTC. Except I'm not HODL. I bought based on the technology, and specific FedGov actions, and when I had enough unrealized gain, I bought protective puts that locked my profit so I can actually realize the gain. Another poster on here spoke to unrealized gains, and he is correct, no matter how much most like to talk (exaggerate) about unrealized gains, they are essentially meaningless. I placed the protective puts on an exchange that the counter party risk is guaranteed by the clearing house, thanks to one of the previously mentioned FedGov action.

    Altcoins are a different beast, although I own some assorted Alts in small quantities. Alts to me are a trade, not a longer term hold. Strangely enough, I do trade on memes, Tweets, etc., and these have turned out to be the most profitable trades I ever made in my lifetime. We're in odd times, but I didn't make the rules, I just learned how to profit within these odd times. How can anyone say investing on memes isn't gambling? Because memes impact pricing (fundamental supply / demand) and my instinct at the baccarat table does not impact outcome. And this is impossible to argue.

    Is it gambling? I'd say no since the risk exists whether you invest in crypto, or not. In gambling the risk only exists once you make the bet, and you can decide to not make the bet. Is the way some persons buy or speculate in crypto gambling? Sure, but doesn't apply to me. Why does the risk exist in crypto if someone doesn't buy it? Because anytime the Fed starts using the technology, it creates an inflation, and make no mistake, the Fed blessed the technology quite some time ago. How do I know this? They announced it, and they use it to settle overnight transactions.
     
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  13. AyDee

    AyDee is getting too old for this

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    odd coincindence , I've just been watching Dr. Doom, aka Nouriel Roubini blast what he calls "shitcoins" in two videos, first was,
    "the tangle in Taiwan" vs a guy that just had a Vanity Fair article about him.. yeah that guy is currently on the lam from the feds.

    What stuck with me was him saying Bitcoin had a 95% drawdown in one year, while US Fiat currency took over 150(?) to do that.

    IDK, it's all above my paygrade, though think I'll still slip a 20 into that bitcoin atm at Binions... from sportsbook wins.. lotto ticket play.

    oh the flip side is GS and maybe US govt going to create their own blockchain products, or derivatives.. IDK,,,

    @Golfer , heard the same thing about Fed overnight settlements.
    what could possibly go wrong?

    no KYC, IDK
    + demand
    - regulation
     
    Last edited: Apr 5, 2021
  14. Golfer

    Golfer Well-Known Member

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    My thoughts are below in (............................)



     
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