When there is a new technology, there are always new terms which rise as an important word for the subject. As in stock market, there are many words which we cannot understand if we are new to the business and similarly in other sorts of business and new technologies. Now, here is a new term in Cryptoworld, HODL. There is no meaning available for “HODL” in Oxford Dictionary but when you search Google, there you will see numerous memes of the word “HODL”.
The new breed of language for crypto-conversation has developed with many new words like whale, bear, ATH, FOMO, Bearwhale, Rekt, FUD, etc. Without knowing the meaning of these words, you will feel a bit puzzled if you join the conversation of cryptocurrencies. Maybe you won’t understand a little bit of conversation without knowing the meaning of these terms.
After Googling and doing some research on the word “HODL”, we have found out how the word was originated, by whom and when.
So here is everything that you need to know, “a complete detailed information of the word “HODL”:
What is HODL? And How it originated?
“HODL” is just a misspelling of a word “Hold” by a crypto-investor in Bitcoin talk forum who was drunk.
The term originated in 2013 with a thread post titled “I AM HODLING” from a member named “GameKyuubi” in Bitcoin talk forum.
The word was a spelling mistake when expressing his thought about his bad trading skills. From the post, it can be known he was drunk as he has said, “he has had some whiskey” in the post.
Only in the year 2013, the Price of Bitcoin was under $15 in January and reached a high of $1100 at the beginning of December of the same year. But at UTC 10:00 am on December 18, the price of Bitcoin drop down 39% from $716 to $438.
Then at UTC 10:03 am on December 18 in Bitcoin talk forum, the user named “GameKyuubi” posted a thread “I AM HODLING” while drunk about his poor trading skills and determination to hold the Bitcoin even after the price has dropped heavily down.
He wrote in the post “I typed that tyitle twice because I knew it was wrong the first time. Still wrong. w/e,” he tried to correct it but wrote again wrong because he tried to say he was a bad trader with that. “WHY AM I HOLDING? I’LL TELL YOU WHY”, he justified as “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.”
He concluded later the best course was to hold, since “You only sell in a bear market if you are a good day trader or an illusioned noob.” The people in between hold. In a zero-sum game such as this, traders can only take your money if you sell. In the end, he also confessed that he had some whiskey which was spelled whisky in the bottle.
In no time, the word “HODL” was all over memes on the Internet. It appeared in memes of movies 300, Braveheart, Matrix and many more. It also appeared in Game of Thrones memes. Since then the word “HODL” became very popular in the crypto world.
HODL – Hold on For Dear Life
The word HODL has also been described as meaning “Hold on for dear life.”
These holders main strategy is to “HODL”, it means just to sit back and not to lose your coins while the price is on the drop and everyone is selling their coins.
“HODLing” is suggested as the best thing to do for those who are immature and novice and have no experience in any kind of day trading. If you don’t HODL now, you might lose your coins that may become millions of dollars in no time.
There still exist few people who are still holding their coins from 2009/10. From the report of blockchain detective firm, Chain analysis, there are still few people who are holding Bitcoin as they came online to transact hard forked “Bitcoin Cash”.
They might believe someday the value will rise, maybe in decades and they can enjoy the coins as the treasury. As the Bitcoin has a high probability of being such a coin. So why won’t anyone “HODL”?