To HODL or not to HODL – That Is the Question
Practically all spheres of human activity have a specific type of slang that is used between the representatives of group for a better cooperation and for a more productive work. Very often for a person that is not well versed in the field where the jargon is used such a language might seem some mysterious code of the secret society. The sub group of people who are working in the branch of cryptocurrency have already formed their specific slang although it is quite young.
That is why all those people who are new to the world of crypto currency, might face some difficulties while communicating with more experienced traders and miners or even during reading the online publications. This article will cover one of the simplest and the most meaningful terms that has become popular not only among the crypto traders but also among the works of various bank systems – HODL.
What is HODL
First of all, we need to dig deeper into the history of this slang term origin. It appeared at a popular crypto forum bitcointalk back in 2013. The user was discussing the questions about spending the electronic money. He took the position of saving the currency and waiting till the price will rise. Perhaps, he was typing too fast and by mistake he got HODL instead of HOLD. Nobody could expect that a simple typo could lead to something greater – a mem that will be used by hundreds of people throughout the whole cryptocurrency community.
In his message the author stated that he will not sell his cryptocurrency regardless of the rapid decrease in price. The mistake in writing caused a lot of jokes as the typo was made in the header of the post and everybody could see it. For some unknown reason the distorted word became widely popular among the traders.
Currently to HODL means to store electronic money even if the price is falling at an unbelievable tempo. The creative people even developed the acronym HODL – Hold for dear life when you see bitcoin forecast.
The strategy of HODL
After being a simple joke the word has transformed into a real financial term that is not used exclusively in the world of crypto currency. It has moved to the world of financial investments and trading of valuable papers as well.
HODLING – means a strong belief into the items that are in the possession of the person and their potential to bring the profit. It also shows that even if the state of business is going not in the most positive way there should always be a strong belief that the price will rise but later. That is why it is necessary to preserve the currency that seems totally worthless as it can skyrocket in the future and compensate for all the worries.
This is one of numerous slang terms and there are a lot of others which describe the captivating world of cryptocurrency.