Recently another whale moved over 900 Bitcoins from a wallet that was untouched for 11 years. Even though we will never know if this is the only wallet this person had and if he/she did move or sell/buy with other wallets, that's still an impressive hodl through both some tempting bull and fearful bear times the past decade.
Which made me wonder about my own abilities. What's my longest hodl and will it even come close to any of these whales? Absolutely not.😒 But let's elaborate anyway shall we. The first Bitcoins I held didn't even make it one year without being sold. But I learned from my mistakes and the second time I got back into Bitcoin it was like being a kid in a candy store. So many choices, so many changes but I still started out with what I knew best: Bitcoin. I accidentally also got some BCH as well since I had no idea what that was at the time, but as I learned what happened within the Bitcoin community during my absence I quickly came to the conclusion that even though Ver was one of the earliest supporters and made some important contributions to Bitcoin, this Bitcoin Cash stuff just wouldn't cut it.
But anyways that particular wallet was created in Q1 2019 and has not been active nor has there been any Bitcoin withdrawals from there these past four years. Meaning that come Q1 2024, I will officially have become a 5 year hodler.🥳🤩🙌
At the end of Q1 2019 or maybe even the beginning of Q2, I started to feel comfortable in acquiring some of these new coins, most of which were ERC20s which I got from the old ETH based IDEX. From the top of my head, there was some Quant, some Trac and back then the ERC20 version of XDC. All of which I still hodl to this very day, but unlike the Bitcoin wallet I do actively withdraw from this ETH wallet and send/trade with it on exchanges to make some gains. The total number of coins from these three examples has diminished as well, as I traded them during each of their bull runs for more Bitcoins I hodl in another wallet. Apart from this I have another old Bitcoin wallet that's empty and serves as some sort of paranoid emergency purpose wallet.
Why all these different wallets for the same coin you ask? IDK, I guess it has something to do with that basket that should not hold all your eggs. Culturally you would find me rather high on the Uncertainty Avoidance index, which may be why I have such a distrust for centralized exchanges. I mean, is there anything more uncertain than a centralized exchange in the crypto sphere? Scam exchanges, hacked exchanges, compromised exchanges, insecure exchanges, corrupt exchanges, how many more liabilities do you need? Seriously, the only thing worse than losing your Bitcoins due to your own mistakes is losing your Bitcoin due to others people's mistakes. That shouldn't even be a thing IMO but nevertheless here we are.
So what are your experiences and intentions? Did you break the 11 year cycle of the 900 BTC whale or are you planning to outlast it? Or are you in it for the short term? That 5 year wallet has been there so long it'll take something really special/disastrous to make me dump it. But Bitcoin just for the sake of hodling defeats the purpose of Bitcoin does it not? So allow me to introduce yet another Bitcoin wallet I have.😂 This one is for actual spending, whether it's for purchases, donations, competitions (etc), this is the wallet I feel comfortable with using for all of the above. It doesn't hold more than a few hundred Euros worth at a time, but that's exactly the point.
