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RE: Tales from Bitcointalk Forum - Lending in The Early Days of Bitcoin #1
https://en.wikipedia.org/wiki/Hodl
The backronym (holding on for dear life) came later actually, that post on Bitcointalk was actually the first case of the term being used. And it was a spelling mistake :)
This wouldn't be the first time I've been wrong, just the first that I have admitted it, I stand corrected.