HODL. It is the bitcoin meme that every bitcoin knows or should know. Originally born eight years ago, out of the frustrations over the price of a drunken bitcoin, it grew into one of the biggest bitcoin memes. Today is one of the most distinctive philosophies of today’s bitcoin community. You read it in chat rooms, internet forums, t-shirts, and caps: HODL is an integral part of today’s bitcoin community. A bitcoin who HODLs his bitcoins is someone who does not sell his bitcoins. You can check the Profit Edge to learn more about bitcoin trading.
‘HODL’ is a misspelling of the English word ‘hold ‘. Some media reports that it’s short for ‘Hold On for Dear Life’, but that’s not true. In drunken language, screaming, and full of language errors, it is a funny but also a recognizable story for many bitcoiners:
Drunken people speak the truth, the saying goes. At first, it was mostly funny, but the meme turned out to contain wisdom that has grown into one of the core values of today’s bitcoin community: just HODLen.The course: everyone thinks they are more innovative and can play him, but a HODLer HODL goes through all the peaks and valleys. There are no way HOLDers can shake you out of the market. They believe in bitcoin, are future-oriented, and their bitcoins are only for sale when bitcoin is really ‘to the moon’ and possibly not even then because everything might already be paid in bitcoin.
The key question behind the meme: do you believe bitcoin will play a more significant role in the world in the future than it does now, or not? If the answer to that question is yes, then there may be something to be said for owning some bitcoin and just HODLing it until it does, regardless of what the price does in the short term. Responding to fluctuations is tempting but also highly insidious. Nevertheless, most people get away with it.
However, if you HODLt, save as it were, then you have what you have, and no one can take it away from you; that part of the bitcoin economy you have amassed for yourself. For now and in the future – whatever that may bring. That’s pretty much the HODLer mentality. They often exchange trading for stacking satoshis, the smallest amount of bitcoin, to steadily increase their position – with or without a Zen-like smile on their faces that is incomprehensible to outsiders.
Buyers of last resort
It has an almost religious touch. HOLDers seem willing to go down with the ship if necessary. It is, therefore, usually people who are firmly convinced of the future of Bitcoin or who find it essential to contribute to it. Making money quickly and the price is often secondary to them. The success of Bitcoin is usually a more important goal, often because of romantic ideas about a different kind of money system.
HOLDers are the people who own and want to keep owning bitcoin and buy more of it because they want to have more. The future will tell if this is Crazy or genius?
In any case, they are pretty driven. HOLDers are the ones who don’t sell but buy. Then HOLDers keep stacking. HODLers believe in bitcoin and saving in it, thereby providing value to an economy and a vision for the future. They jointly realize a grassroots initiative to kickstart a digital economy together. Does bitcoin have no intrinsic value? For HOLDers, the existence of a decentralized, digital and global monetary network is their intrinsic value.
However, it is good to stay close to the ground. HODL, maybe just a meme that may someday pass. And while the number of HOLDers today is impressive, no one can predict the future, and the bitcoin price could go either way. That depends entirely on supply and demand, and time will show whether the HOLDers will also be steadfast enough in the future.
So don’t hang your finances on an internet meme. Also, don’t invest too much money that you think you might need for something else – that’s risky, and Bitcoin is still experimental. We are also not financial advisors, so don’t take anything from us and always go to a professional for sound financial advice. Still, it’s pretty remarkable that Bitcoin today ranks among the top 15 most valuable currencies worldwide – powered in part by the HOLDers, the people who believe in Bitcoin.