One of the first things people encounter when they enter the world of Bitcoin is nomenclature. It’s different for sure, there appears to be an acronym for everything. But none have achieved meme status more than the term “hodl”.
The HODL Story
In December 2013, a user by the name of “GameKyuubi” posted a now infamous entry on a Bitcoin forum entitled “I AM HODLING”
In a post filled with misspellings, he complained about his poor trading skills and expressed his intention to hold bitcoin even though it was on the decline.
I type d that tyitle twice because I knew it was wrong the first time. Still wrong. w/e. GF’s out at a lesbian bar, BTC crashing WHY AM I HOLDING? I’LL TELL YOU WHY. 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. Likewise the weak hands are like OH NO IT’S GOING DOWN I’M GONNA SELL he he he and then they’re like OH GOD MY ASSHOLE when the SMART traders who KNOW WHAT THE FUCK THEY’RE DOING buy back in but you know what? I’m not part of that group. When the traders buy back in I’m already part of the market capital so GUESS WHO YOU’RE CHEATING day traders NOT ME~! Those taunt threads saying “OHH YOU SHOULD HAVE SOLD” YEAH NO SHIT. NO SHIT I SHOULD HAVE SOLD. I SHOULD HAVE SOLD MOMENTS BEFORE EVERY SELL AND BOUGHT MOMENTS BEFORE EVERY BUY BUT YOU KNOW WHAT NOT EVERYBODY IS AS COOL AS YOU. You only sell in a bear market if you are a good day trader or an illusioned noob. The people inbetween hold. In a zero-sum game such as this, traders can only take your money if you sell.
GAmeKyuubi, bitcointalk.org
HODL Becomes Bitcoin’s #1 Meme
Since the infamous post, it soon spread throughout the community and has became slang for holding bitcoin, rather than selling it.
In fact, it is probably the most frequently recommended investment strategy in Bitcoin, after DCA.
