Where Did The Term "HODL" Even Come From?
The first time I read “HODL”, I thought that someone had a misspelling, and maybe it meant to say "HOLD" (you know, like grab something). But after a while, I thought that I was getting crazy: either I was the one who misspelled the word or all of the sudden, my whole Twitter forgot how to write properly an English verb. And I was curious because the term meant the same as the one that was correctly written, but the people insisted on putting it in this way, almost as if was distinctive that allowed them to recognize each other.
Well, it alludes to the fact of holding, of not selling, of staying in your site because you really believe in the potential of a cryptocurrency. That kind of mind, in the world of the cryptocurrencies -and especially of Bitcoin- is the mind of a winner. Think of all those people who did not sell their coins and made "HODL" in the first Bitcoin bubble at $10, second at $50, third at 100, at 300, at 600, at 1200, at 2400... You get the idea. All those HODLers won more than the others, and this will continue to happen in the same way in the future, for years. And that the best option, almost always, is not to sell, but accumulate. But the original question remained unanswered in my head, so I began to investigate the subject and read different explanations. The most plausible was, apart from the obvious typographical error, that it was an acronym for the so-called "Hold On Dear Life", which could have some semantic congruence with the use of HODL, which could be its acronym.
But I finally found the real one.
During the "crash" of Bitcoin in 2013 due to the MtGox exchange case, in the BitcoinTalk forum a somewhat angry user complained that he was not able to capture those moments of maximum and minimum prices throughout the day, and therefore, he was not able to make a profit by doing day-trading (selling and buying on the same day). This user, named "GameKyuubi" wrote this complaint in a post in that forum, in a thread titled "I AM HODLING".
The post itself is a good post, in which someone gives their opinion of why for someone who is not prepared for trading, the best decision is to hold the Bitcoins and all the other possible cryptocurrencies. It is a great advice that should be basic, but the desire to earn more money sometimes becomes an enemy. And the Internet did the rest; someone said in that same thread: "Meme in 3,2,1 ..."
And it was done. It became one of those terms created by a newborn community.
Now, when in the world of cryptocurrencies we find situations such as the sudden rise of the Bitcoin price, in which there is a high volume of sales and purchases, the term HODL begins to be seen in phrases, tweets, and memes in the whole network. It is a sign that means "I stay where I am and I do not sell anything, much less my Bitcoins". And I personally I think it's one of the smartest approaches, so HODL, HODL, and HODL to your Bitcoins!
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