7/07 ANDY HOFFMAN (CryptoGoldCentral.com): Patience – The Lost Virtue, And ONLY Way to Win in Bitcoin

in #andyhoffman7 years ago

Through a 29-year career in financial markets – in which I’ve lived and breathed stocks, bonds, currencies, commodities, Precious Metals…and now, cryptocurrency; if there’s one thing I’ve learned, it’s that the only HOPE of success is by exercising patience.

Being RIGHT is another thing altogether; and oftentimes, LUCK is a big part of the equation – regarding timing, rationale, or happenstance. However, with Precious few exceptions, buy and hold investing – utilizing PATIENCE – is where the big money is made…which, if you need further motivation about, look no further than yesterday’s episode of Adam Meister’s “This Week in Bitcoin.”

https://steemit.com/bitcoin/@bitcoinmeister/live-at-2pm-est-this-week-in-bitcoin-7-6-2018-vortex-btc-benny-francis-pouliot-rodolfo-novak

Those who know me, know I can get extremely contentious on Twitter. However, everything I say is predicated on fostering Bitcoin HODLing; like for instance, calling out the scare tactics of TA FUDsters, be they overt or inadvertent...as in an asset as volatile; and universally attacked by a powerful, fiat-loving status quo; the “Bitcoin Roller Coaster” has thrown off countless tens of thousands of investors at the most inopportune times – like now, when Bitcoin’s fundamentals have never been better, nor its valuation cheaper. Thus, I take particular umbrage to being called “impatient,” when I am simply exhibiting optimism – and utilizing FACTS to back it up.

Andy Hoffman (#HODLBTC)‏ @Andy_Hoffman_CG
How much more INSULTING can it be to call me "impatient?" I held Precious Metals nearly exclusively for 15 YEARS...and #Bitcoin, without FLINCHING, for 2 1/2! I am famous for HODLing (see my handle), but I'm "impatient!"
7:07 PM - 6 Jul 2018

Sure, I can be wrong about timing – which matters not, as I am a long-term HODLer. And by “long-term,” I mean I’m ALL IN, personally, professionally, and philosophically…to the point that, despite having left the Precious Metals industry less than a year ago (after 15 years), I’ve already become a “famous” HODLer.

Andy Hoffman (#HODLBTC) Retweeted Jax
The only reason I'm not blocking this guy is to highlight the unadulterated idiocy of his statement.
Jax @Sima___Yi
Capitulation will happen when Andy disappears. Best indicator.
8:25 PM - 6 Jul 2018

To that end, it’s humorous that so many people are willing to believe TA FUDsters, from within the Bitcoin community - who perpetually claim it’s on the verge of collapse, in a manner barely different from the biggest Mainstream FUDsters, from Warren Buffett to the Bank of International Settlements. The FACT is, that since bottoming at a $100 billion market cap five months ago, the Bitcoin price has FOUR TIMES held support at this very key level…where INSTITUTIONS first entered this brand new asset class whose network grows stronger each day, and is HERE TO STAY.

Andy Hoffman (#HODLBTC)‏ @Andy_Hoffman_CG
What the IDIOTS predicting plunging #Bitcoin prices don't get is that it is a NEW MONETARY ASSET CLASS, and it's HERE TO STAY! This is why support at a $100 billion mkt cap is so staunch. Look at the collapsing fiat currencies...and PRECIOUS METALS!
1:05 PM - 2 Jul 2018

I mean, the same TA “gurus” who were telling you to buy at $20,000 are telling you to sell at $6,000 – and yet, many consider them to be “right.”

Andy Hoffman (#HODLBTC)‏ @Andy_Hoffman_CG
Funny, since #Bitcoin $6,000 on February 6th, I have said we're at a bottom while TA FUDsters have said we're going down further. 5 months later, at $6,600 - after having bounced off $6,000 at least four times - I am vilified as "wrong" whilst TA FUDsters are lauded as "right."
6:33 PM - 6 Jul 2018

Unfortunately, this is how the majority think – seeking short-term fixes, from “experts” that pretend to know what the price will do tomorrow. Ultimately, FUNDAMENTALS win the day – and in Bitcoin, they are far stronger than ever before, irrespective of the fact that the epic boom/bust cycle we just experienced hasn’t yet finished consolidating…at MUCH higher levels than before it started.

Andy Hoffman (#HODLBTC)‏ @Andy_Hoffman_CG
Long ago, I learned that most care little for long-term FUNDAMENTALS - but treat those claiming to be short-term TA "experts" as Gods. I recommended #Bitcoin PUBLICLY, in my FREE blog, against the wishes of my PM bosses, since January 2016 at $425. But what do I know?
6:26 PM - 6 Jul 2018

Ultimately, if YOU want to succeed investing in the most important, world-changing asset in financial history; particularly, at a time when said consolidation period is creating numerous periods of intense volatility and FUD creation, you MUST adhere to the age-old virtue of PATIENCE. It WILL be worth it, it’s just a matter of time.

jratcliff63367‏ @jratcliff
Replying to @Andy_Hoffman_CG
I make no predictions about price because it is influenced by forces far beyond my control or ability to know. However, just as someone, or some group, has dumped on every price recovery of the past six months, some group seems to have an interest in keeping it above a level.
7:03 PM - 6 Jul 2018

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@andyhoffman We are still so Early in Crypto and most of the Public still does not realize the LIE they Live in..........................Central Banking Sucks !!

Agreed Andy. I was a Goldtard for many years.