More than 10 years have passed since the introduction of Bitcoin. During these years the segmented cyberpunk and cryptographic movements evolved into the Crypto community. Nowadays, the Crypto community has a prophet – Satoshi Nakamoto – symbols and slang – a specific language generated by crypto supporters.
Words such as mooning, shilling, funding, “pump and dump”, FOMO, and DYOR – the list goes on – are commonly used as the slang of crypto enthusiasts. However, HODL is by far the most common of these terms and one to which almost all crypto traders can relate.
In 2013, on a post in the Bitcoin Talk forum, the term “HODL” appeared for the first time. The inventor of the term, crypto investor GameKyuubi, was drunk when he wrote, “I AM HODLING!”, misspelling the word “hold”. Referring to the fact that despite the drop in Bitcoin price, the drunk investor chose to hold onto his Bitcoins. GameKyuubi was upset, to say the least since some skilled traders had been blaming him for not selling Bitcoin at the right time. With the post, he wanted to get back on day traders and prove his competence.
Since then, the purposely misspelled term “HODL” has become a popular slang term in the crypto industry and it continues to be used whenever someone wants to say that he is holding onto a coin (not only Bitcoins) that he believes will be profitable.
“Hodl – slang in the crypto community for holding the coins rather than selling it.”
It earned a status of a backronym, too, standing for “Hold On for Dear Life” and, of course, the number one meme topic in the industry.
“HODL” is not just a word, it grew into a belief. The community has even developed “The HODLer Manifesto”, which is presented on GitHub. In a satirical form the manifesto presents 8 rules, which every hardcore crypto enthusiast or a hodler must follow.
This four-letter typo embodies the idea that blockchain and crypto will transform society and unlock huge resources for the people who continue to trust in crypto even during the moments of difficulties. The term “HODL” now jumps up whenever the crypto market drains and sends the message to holders not to sell.