Original author: Todd
First of all, congratulations on Bitcoin officially reaching 100,000 US dollars today. Let me tell you an interesting story.
In January 2018, I wrote an article about how to survive in a bear market.
The most important paragraph in the article (which was severely mocked by a man in the comment section) was:
“It’s only a matter of time before one Bitcoin reaches $50,000.
Since we know that Bitcoin has risen to $50,000, all operations now are aimed at increasing the number of Bitcoins. Why should we cut losses now? Where is the loss?
A man in the comment area said: The answerer just slapped his butt and came to the conclusion that Bitcoin can reach 50,000 US dollars?
I forgot to mention that Bitcoin was $11,000 that day.
Its fun later -
This man is quite courageous, he insisted on not deleting that comment;
But as Bitcoin broke through 2w, 3w, 4w... and now 10w US dollars, every time it broke through an integer, someone would make a special trip to check in and tease him 😂, this small comment is about to become a famous tourist attraction.
As a generation of Internet natives, this kind of funny story, coupled with the amazing performance of the Internets magical currency, is naturally comfortable.
A famous picture, I think everyone has seen it.
Your Imagined HODL
Actually holding (HODL)
Many people even corrected that the second picture should be:
HODL 2.0
Actually, there is a third picture in this meme, which many people don’t know. To be honest, looking back over the years, this is the picture that has touched me the most:
HODL 3.0
Is it really that easy to hold onto Bitcoin?
Then why are there still so many people who haven’t caught it?
If I were the 2018-year-old me, faced with this question, I might answer quickly: Yes, it is really easy to hold Bitcoin. You only need to do one thing: deposit it in a cold wallet.
But!! Actually, this sentence is only half right.
After 7 years of wandering in the industry, I finally realized the second half of the truth.
Now, at 24 years old, I can tell you that the truth is:
Holding Bitcoin is still simple, but it actually requires three things:
Deposit to cold wallet
Regularly replenish faith
Live a good life
The first thing is cold wallet, I believe no explanation is needed.
The second thing is worth mentioning.
In fact, I am really grateful to everyone who has preached Bitcoin.
Faith is something that will gradually weaken with time and experience, and you need to replenish your faith every once in a while.
Otherwise, your Bitcoin will be lost to the market in the form of countless large and small bands.
No one can establish an iron ideological imprint with the flesh and blood. Even MicroStrategys boss Michael Saylor secretly sold some bitcoins at the bottom of 16,000 in an attempt to use it as a special band for tax avoidance.
Moreover, the most terrifying thing about the crypto industry is that it always pushes the ugliest part of the industry to the world.
You can see swindlers, clowns, prostitutes and beggars appearing one after another;
You can always see the rise and collapse of one scam or one Ponzi scheme after another.
A VC bureau that is so big that it is gathered by bigwigs
Small as PVP sent by group friends
There are many thorns along the way, so it is natural that you are disappointed with this industry.
If you can still maintain your passion, to be honest, I will doubt your sincerity.
So, you need to replenish your faith regularly.
Next is the time of faith.
This round of Bitcoin launch was not achieved all at once, but like a multi-stage rocket, one stick after another, linked together, taking off layer by layer.
Pre stage: The end of the three major scammers (SBF, SuZhu, DoKwon) + the Fed’s interest rate hike have jointly welded the iron bottom of Bitcoin to 16,000 points.
Subsequently, Bitcoin has risen from the previous bottom of 16,000 to the current 101,600. In fact, there are three major contributors:
First-stage rocket: 16,000-30,000. Thanks to Grayscale, which continues to absorb Bitcoin like a Pixiu and has achieved a crucial victory in the lawsuit with the SEC.
Second-stage rocket: 30,000-60,000, thanks to ETFs, especially BlackRock and Fidelity, two traditional institutions that brought their users and hot money from the US stock market into Bitcoin.
The third stage rocket: 60,000-100,000. We have to thank MicroStrategy. In fact, the key integer points are very difficult to break through, especially the invisible pressure of various technical indicators. However, MicroStrategy’s belief and determination allowed them to use the cash from issuing bonds and selling stocks to directly and forcefully eliminate the pressure and bring Bitcoin to the vacuum zone.
Next, there is the fourth stage rocket, which is also the most powerful first stage rocket:
Considering Trumps current nominations of a new crypto-friendly and even crypto-enthusiastic administration, the United Statess Bitcoin strategic reserve proposal is likely to become a reality.
With the United States taking the lead, is it possible that Europe, the Middle East, Japan, South Korea, South America, and even China will follow suit?
The once unattainable dream of electronic gold has now become even within reach.
The biggest feature of Bitcoin is that it does not change, which is a quality like gold.
The golden seal of Qin Shi Huang, the golden crown of Emperor Taizong of Tang, and the golden palace of Emperor Taizu of Ming are all made of the same gold.
What was the Bitcoin network like in 2017, what was the Bitcoin network like in 2021, and what will the Bitcoin network be like next year in 2025? It’s all the same Bitcoin.
Predictable = Reliable = Can travel through time
You can never trust a project whose dev will be RUG in the next hour, nor can you believe an agreement that updates a blueprint every 5 years. You cant be sure whether a currently diligent entrepreneur will turn into a ruthless president in N years.
But you can easily predict what the Bitcoin network will look like in 10 years, 20 years - the answer is, if gold is the same, it will always be like this.
This is why these countries make Bitcoin (and not anything else) their “national strategic reserve.”
You may ask, Mr. Todd, I seem to understand. But we come to this industry to turn over, you tell me to hold Bitcoin? How much more can Bitcoin rise?
Bitcoin vs Others
To be honest, I cant give you a prediction, and almost no one can give you an accurate prediction.
This is exactly the third point I want to express - live a good life.
Another major feature of this industry is that it is also good at showing you the most luxurious part.
You can easily earn 1M or 2M in a short while;
After a while, he made another statement about his retirement;
After a few days, the person disappeared. It turned out that he was traveling around the world.
Of course, this does not even mention the extravagant lifestyle of the exchange bosses in Singapore and Dubai.
Among them, there are real fakes, accounting for 75%, pretenders account for 20%, and there are truly rich people, accounting for about 5%.
However, these things are too eye-catching. Like powerful magic weapons, they can cleverly draw out all the resentment and anger in people.
This is also why memes were born. Of course, I will write more about memes later when I have the chance.
Recently, an account with a gorilla head image transferred 5M to XRP contract orders, which attracted countless envy. However, it was revealed that it was just a virtual disk transaction, and its purpose was to deceive others to pay fees.
Do you know how ironic it is when you were faced with a fake photoshopped picture, silently cried and scolded yourself for being timid, and then retaliated by opening a huge leverage?
The key to HODL is that people must learn to live well.
How to live well:
Frequently record yourself in writing
Accept that others earn more than you do
Focus on the present moment
Eat well
Set realistic and achievable goals
Challenging Negative Thinking
Get a good nights sleep
Cultivate positive self-talk
Practice gratitude
Helping Others
Only if you live a good life can you hold on to Bitcoin.
On the contrary, if you don’t live a good life, but fall into the emotional honeypot carefully designed by the altcoin issuers, and start to fantasize about adopting radical strategies to overtake others, the ending will be——
Your bitcoins will all end up in the hands of altcoin issuers.
In recent years, I roughly feel that perhaps 95% of people are becoming less and less supportive of the currency standard.
There are occasional people who go against the trend, but they will not exceed 5%, and all of them are people with extremely good fortunes.
Do you remember that sentence?
“When you first heard about Bitcoin,
That’s often when you can own the most Bitcoin.”
Finally, let’s review the three ways to really hold Bitcoin:
Deposit into a cold wallet
Regularly replenish faith
Live a good life
Time flies. Seven years have passed in a flash, and the exchange rate of Bitcoin to US dollars has increased tenfold.
However, 1 BTC = 1 BTC, remains the same.
As it was in the past, so it will be in the future
Please hold on to (HODL) your Bitcoin and don’t wait until Bitcoin reaches 1 million US dollars to understand.
