Bag Holders, to be or not to be?

What is Bag Holders?

A “bag holder” is an informal term used to describe an investor who holds a position in a cryptocurrency which decreases in value until it is worthless. In most cases, the bag holder will hold the position for an extended period during which most of the investment is lost. If one fanatically hodls cryptocurrency, especially shitcoins, they risk becoming a bag holder.

This term could be applied in other financial assets as well but it fits better to crypto to me. Imagine a poor guy holding a bag full of Bitcoins from from the All-time-high $20k to zero in the house, damn that hurts! Alright ignore my lame joke, the probability for that to happen might be slimmer than someone accidentally send over 1000 BTC to my address.

Quick reflection as a Hodler

My phisolophy as a crypto investor is always “Go big or go home” which easily expose me to a very high risk of becoming a bag holder. The truth is, before making any investment the first question to ask myself was always “What if this shit goes to zero one day?” If the answer was selling to cut loss, I’d probably not taking the dive.

Looking at my portfolio, the worst investment was the AMLT and NVST coin which came from ICO investment. The former was following a trading signal and the latter was even funnier, I saw that ICO advertisement on the Coinmarketcap and thinking to join the ICO for the first time was kinda cool. I had no chance to become a bag holder for these two coins as there are worthing shit since launching.

I have half of the holdings in red number now, gotta hodl as usual. Let’s hope I’m not going to become a bag holder anytime soon.

Bag Holder 我不知道在中文的翻译是什么，不过意思就是某个人持有特定的资产，一直贬值直到为零都不曾放手。同样的道理也可以运用在加密货币身上。看到这个有趣的经济词汇，对身为 Hodler 的我有点当头棒喝的意思。这些年来我手上价值变零的币应该只有两个，就是该死的 AMLT 和 NVST。都是从 ICO 买回来的，严格上来说我还不能算是 Bag Holder， 因为它们一推出价值就是几乎为零了。唉，说起来都心酸。看着手上还持有的币币们，希望不会它们不会有天真的让我成为 Bag Holder 吧.

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