Patience takes longer than you think, and that’s why it works
Seeing lots of people claiming to have a plan to HODL but getting antsy after a short time like 1 year and less. Here’s the thing, and I’m obviously speculating because no one actually knows what Bitcoin is going to do, but this might help you. People who got Bitcoin in 2010 weren’t retiring in 2011. People who found Bitcoin in 2014 weren’t retiring in 2015. The most likely scenario from here is probably 10x within 5 years, and another 10x in another 5-10 years. Now while this is still better than most other investments, that means that even if you bought $100k of bitcoin today, that’s $1M in 2030. That’s great, but not retiring. That will make you feel good and secure. 5-10 years later another 10x to $10M, could probably look at retiring. Use the investment calculator on calculator.net and use something like 40% per year compounded annually. It’ll help you figure out what you need to be saving now for where you want to be, and notice that most of the gains are always in the last few years. The hard part of hodling probably isn’t even when it’s dropping and you’re actively holding, it’s the boring parts when nothing is happening and it chops sideways. submitted by /u/Mr_Ander5on [link] [comments]
Seeing lots of people claiming to have a plan to HODL but getting antsy after a short time like 1 year and less.
Here’s the thing, and I’m obviously speculating because no one actually knows what Bitcoin is going to do, but this might help you.
People who got Bitcoin in 2010 weren’t retiring in 2011. People who found Bitcoin in 2014 weren’t retiring in 2015.
The most likely scenario from here is probably 10x within 5 years, and another 10x in another 5-10 years.
Now while this is still better than most other investments, that means that even if you bought $100k of bitcoin today, that’s $1M in 2030. That’s great, but not retiring. That will make you feel good and secure.
5-10 years later another 10x to $10M, could probably look at retiring.
Use the investment calculator on calculator.net and use something like 40% per year compounded annually. It’ll help you figure out what you need to be saving now for where you want to be, and notice that most of the gains are always in the last few years.
The hard part of hodling probably isn’t even when it’s dropping and you’re actively holding, it’s the boring parts when nothing is happening and it chops sideways.
[link] [comments]
