Never sell your Bitcoin

Bitcoin Makis says, “Never sell your Bitcoin.” They repeat it when the market is crashing to persuade people not to throw their BTC in loss of panic and fear. They repeat it when the price increases because they believe that no matter how high the price compared to previous levels is, it is still negligible compared to future levels. So if they never sell, why are they worried about her price (Oh, they)?

Message behind Hodl

The term “Hodl” is one of the staples of Hardcore Bitcoiner. This is the wrong word written “hold”. History behind the term attracts the spirit “Never sell your bitcoin” pretty good.

The term “Hodl” dates back to 2013 year thread At Bitcointalk forum. The original post wrote a match of the counseling hobby that uses Gamekiuui Moniker. His message called “Ja am Hodling” was flawlessly hilly separated into the cords price Bitcoin (and optically premature tifne with a girl).

In the message, Gamekiuubi calls a bad merchant and reveals that he will keep Bitcoin instead of trying to try to market the market as good traders.

“You only sell in the bear market if you are a good day trader or illusion noob. People between wood. In a game of zero, as it is, merchants can only drive you in the game.”

Gamekiuibi’s post hit the nerve, and the people on the forum answered it with more hodl, meme (and the term used to this day) was born.

If we think about Gamekiuba’s message, we will see that he was not against profits at all. He just didn’t know when to sell his bitcoys in exchange for Fiat Money, so he decided not to do so wouldn’t be a “bad dealer”

Many interpreted “never sell bitcoin” principle not literally. In one of the discussions about Reddit, many Bitcoiners admitted that they just do not exchange their bitcoys for dollars. Instead, they still buy more bitcoin and keep it until considerable amount of money. They can sell their BTC if they buy a car or leave other purchases. Some people spend their sowing to pay the rent, but they leave the rest of the profits in Bitcoin and do not plan to sell it. So they think it’s better to keep money in Bitcoin, not FIAT’s wallet. Bitcoin is a savings currency for them, because they believe in Bitcoin long term price. He understood that Metrics was important for these people, even if they did not sell it for years.

“Never sell bitcoin for whales”

Whales are the owners of large crypt’s bags in the value of million million millions. In the 2020s, the price of the Bitcoin price became strongly influenced by whales transactions. Chart It points to correlation between the Bitcoin price and the number of banknot transactions that are held over 10,000 BTCs look almost like a mountain that reflect in the lake – whenever the amount of whale transactions increases, the price drops and vice versa. These curves may seem reverse in relation to each other.

If we look closer to the segment in which Gamequui writes, “in game with zero sum (…), merchants can only take your money if we sell,” We will see a reflection of another popular mott: “Never sell your Bitcoin on whales.” Whales will buy your bitcoys at any price at any time. However, the chance you will be able to buy what you sold are small as the bitcoin price continues to move up, and whales are not Avid sellers.

A man who claims to never sell bitcoin

Michael Sailor of Strategies is probably the most drizzing follower “Never Sell Your Bitcoin” Creed. His company follows “Bitcoin Standard” and sells its actions and takes a long while buying more and more Bitcoin. The strategy (earlier microstrate) buys Bitcoin of 2020. years. It already has over 500,000 BTC (over 2.5% of the total offer) and says claims that they will never sell Bitcoin. Once, he said that the destruction of wallet keys with significant amounts Bitcoin was not a bad idea.

Sailor calls for corporations and the American government to use their draft and start accumulating Bitcoin. According to him, those who control the largest share in a total of 21,000,000 units Bitcoin will have the most influence in the future.

This vision suggests that the price of bitcoin is not as important as more bitcoin (“we are still early”, “Bitcoin is still underestimated”). It is reflected in random dates purchase of large quantities of large amounts of bitcoin, often on “wrong” days when the price is high (for that, Sailor is even in jokes called “One of the worst crypto merchants in modern history”). However, the price of bitcoin is still important for the company because it affects the value of strategy shares (MSTR) and further planning of the Bitcoin strategy.

According to Sailora, if the BTC price falls to $ 1, he will just buy all Bitcoine. Having one of the biggest bunches of Bitcoin and there are no intentions to sell it, the broad philosophical issues like what it means to be rich. However, let’s leave it on this.