Often, some of the random funny or impact-driving words or statements become a source of memes on the Internet. They become viral because they carry a sentiment and element that the regular words might not do. That’s a similar case with HODL, the internet slang that became famous because of how a word was misspelt.
Here’s the story of HODL, which now also has got a meaning for itself “Hold On For Dear Life” and that wasn’t the actual meaning of it initially.
The term “HODL” in the context of cryptocurrency originated from a 2013 BitcoinTalk forum post. The post, titled “I AM HODLING,” was written by a user named “GameKyuubi”, who expressed his determination to hold onto his Bitcoin investments despite a significant drop in the cryptocurrency’s price.
I AM HODLING
I type d that tyitle twice because I knew it was wrong the first time. Still wrong. w/e,” GameKyuubi wrote about the now-famous misspelling of “holding.” “WHY AM I HOLDING? I’LL TELL YOU WHY,” he continued. “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 A**HOLE 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~!”
While what was said by GameKyuubi in the post was making sense in terms of Crypto holders and their investments, the word in the post title itself started becoming a meme within an hour, with people using both HODL and HODLING and making memes with them.
“HODL” is used to convey the idea that investors should resist the urge to sell their cryptocurrency holdings during market downturns and, instead, maintain faith in the long-term potential of digital assets. It emphasizes a strategy of buy-and-hold, believing that the value of cryptocurrencies will increase over time. It’s often used to encourage patience and discipline in the face of the highly volatile cryptocurrency market.
The ones who HODL are the ones who always believe in the long-term fruitful results of the investments made by them. They usually avoid being greedy and fearful about the conditions, and they prevent themselves from panicking and selling at low prices resulting from volatility, and while it began as a meme, HODL does sometimes boost the decision making of holding the Cryptocurrency purchased by traders.