HODL On: In Defense of Bitcoin's Best Investment Strategy

GF's out at a lesbian bar, BTC crashing WHY AM I HOLDING? I'LL TELL YOU WHY. It's because I'm a bad trader and I KNOW I'M A BAD TRADER. Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro.

When the traders buy back in I'm already part of the market capital so GUESS WHO YOU'RE CHEATING day traders NOT ME~! Those taunt threads saying "OHH YOU SHOULD HAVE SOLD" YEAH NO SHIT. NO SHIT I SHOULD HAVE SOLD. I SHOULD HAVE SOLD MOMENTS BEFORE EVERY SELL AND BOUGHT MOMENTS BEFORE EVERY BUY BUT YOU KNOW WHAT NOT EVERYBODY IS AS COOL AS YOU. You only sell in a bear market if you are a good day trader or an illusioned noob.

In a zero-sum game such as this, traders can only take your money if you sell.

We were all on the same rollercoaster ride and GameKyuubi, in the depths of his frustration, had elegantly articulated both what it feels like and the best trading strategy for an asset this volatile.

There are lots of us who believe we are good traders.

A paper published last October by the Haas School of Business at UC Berkeley entitled "Do Day Traders Rationally Learn About Their Ability?" used nearly 15 years of stock market day trading data to conclude that all day traders are irrational, the vast majority of day traders lose money, and even when day traders are successful, they "Irrationally attribute success disproportionately to their ability rather than luck."

Any post you see mocking HODL is likely someone who thinks they are really smart because they made money by trading crypto last year.

Of course, their success was due to their unique trading ability and not the fact that the entire market rose like a rocket.

Watching the price go up and down either as a trader or a HODLer does nothing to make bitcoin work better.

As for me, I will HODL until I can buy useful stuff and SPEDN. HODL on.