Bitcoin is unlike anything we’ve ever seen…
We’re watching decentralised money being built from the ground up.
A system that never sleeps and continues to beat every 10 minutes.
It’s also volatile like nothing we’ve ever seen.
This is partially because of the stage we’re at in the Bitcoin lifecycle.
For something to grow and develop, it MUST be volatile.
Just like a child growing to be a teenager and then an adult, this process involves a whole lot of ‘growing pains’ along the way – Bitcoin is almost 14 years old, and while it’s not quite as turbulent as it was, there’s still a long way to go, and for us hodlers, this can mean some unwanted pain.
When you experience a Bitcoin drawdown, it can hurt – you might start second-guessing yourself and the Bitcoin network, wondering if you should have sold high so you could scoop up the cheap Bitcoin now…
You should question all of this.
You shouldn’t just embrace this pain for the sake of it; the decision to ‘hodl’ must come from a place of reason, not pure emotion.
Take going to the gym and the ‘no pain, no gain’ quote.
You can train in a smart way, or you can train in a dumb way.
One embraces the challenge and uses smart programming and reasonable resistance to progress, the other associates any pain and hardship with growth.
One is sustainable. The other gets you injured.
One is about your growth. The other is about the appearance of growth.
Hodling when it hurts isn’t about kicking reason to the wind for the sake of it. You should already know this pain is coming, be ready for it mentally, rather than reactive to it, and understand that, like your carefully planned training program, there is a reason behind it.
At the time of writing this, Bitcoin is down because crypto scams are imploding – this isn’t unexpected.
It should already be priced into your mind.
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett
This quote is only relevant with the necessary knowledge/plan and the confidence that comes from experience.
Don’t be fearful or greedy just for the sake of following the trends.
Some people always support the ‘current thing’.
Some people never support the ‘current thing’.
Other people think for themselves.
I hodl when it hurts because my plan hasn’t changed, and neither has Bitcoin.
I've literally never been more bullish on #bitcoin than I am right now.
— Bitstein (@bitstein) November 13, 2022
P.S. Bitcoiners really are built differently though…
bitcoiners are built differently… pic.twitter.com/LsRXvqPlzL
— FastBitcoins.com (@fastbitcoins) November 21, 2022