Crypto Know-How: What is HODL and Why Do I Want to Do It?
Sometimes it seems like cryptocurrency enthusiasts speak their own language. And in a way, they kind of do.
And with this language comes a slew of new terms and phrases you’ll have to learn if you want to join the discussion. And one of the most proliferated words in this new vocabulary is “HODL.”
What the heck is HODL?
Like all good things from the Internet, HODL started as a silly meme before spiralling into a way of life.
HODL first made its appearance on the Bitcoin forum bitcointalk.org in 2013, when user GameKyuubi went on a drunken rant after Bitcoin began plummeting in value. Declaring his wife to be a lesbian and himself an idiot, he stood against the odds and announced, “I AM HODLING,” obviously a misspelling of “holding.” He insisted he would not sell his Bitcoins despite prices going down at the time. This, in retrospect, turned out to be a very profitable move.
And whether stemming from its sheer absurdity or his inspirational fortitude, HODL took off, and its principles with it.
Why the heck do I want to HODL?
Today, HODL has transcended its meme status into an ideology, sometimes used as an acronym for “Hold On for Dear Life.” In essence, this means to remain confident in your crypto investments, even in the face of decreasing worth. Like the great prophet GameKyuubi foretold, you must never sell, against all the odds you must persist as steadfast in your investments.
Through all rising and falling prices, you must always HODL.
…
Well maybe not always, but you get the idea.
