Cryptocurrencies are crashing. People are panicking.
The crypto faithful, however, be conducted in conformity with a single word: HODL.
HODL, an intentional typo of “hold, ” has become the rallying cry for cryptocurrency traders in the face of this recent Bitcoin crash, which has extended to other popular coins like Ethereum and Litecoin.
It’s an instruction for traders to, um, “hold” their Bitcoin instead of selling it.
There’s a certain emotion to it, pointing to the steadfast notion of some that blockchain-based currencies will change “the worlds” — and generate a lot of value for people comprising crypto along the way. “HODL” is being tossed around by the crpto mobbed the style U.S. soccer devotees chant “I believe that we will win .“
The term HODL isn’t brand new. It has popped up in the middle of other Bitcoin crashes, and is being hired this time to stave off tragedy, too.
Google Trends shows how search interest has spiked for HODL in recent months.
In the past couple days, HODL has proven more important than ever.
Bitcoin’s dramatic rally in 2017 moved the cryptocurrency from weird internet quirk to mainstream phenomenon. The blockchain-based currency started 2017 valued under $1,000 and finished the year close to $20,000.
In recent days, however, bitcoin has crashed back to … well, a little bit closer to $10,000. That means plenty of people have attained money, but a lot of people who bought into the cryptocurrency in hopes of a similar rise in 2018 are( at the least thus far) disappointed.
Enter HODL. The term is now being used by people who have decided not to sell during the recent crash as well as a kind of advice against reacting to the dramatic swingings of cryptocurrency prices.
But why the intentional typo from “hold” to “HODL, ” you ask? Because the internet is a quirky-ass place. And because bitcoin was endure here! So Wall Street can take its correct spellings and jostle it up their Brooks Brothers Butts.
HODL comes a now-legendary message board post entitled “I AM HODLING.” The screed received from what appeared to be a very drunk boy in the midst of a 2013 Bitcoin crash.
Internet slang and lingo have all along embraced misspellings that tend to happen when typing. The early blog generation — the LiveJournals, Xangas, Hipster Runoffs of the internet — invented the “teh, ” the unnecessary pluralz, the ever lower occurrence “i’s” and u n mes.
But few pieces of slang have become a rallying cry like HODL.
There’s plenty more crypto jargon where that received from. A quick crawl through the internet yields a few more 😛 TAGEND
Shills : such is people who endorse altcoins without anybody asking their GD sentiments. From what I can see, there are plentyyyyy of shills about.
Nocoiner : u if u don’t buy into crypto. Or, a derisive word for people who missed out on buying Bitcoin, and are now sad and bitternes. You also are a frequent experiencer of something we here at Mashable like to call “SchadenCoin.”
Shitcoin : ( BOY THERE SURE ARE A LOT OF COIN TERMS IN HERE) An altcoin that becomes worthless, or is a scam. You can still make money on a shitcoin, as long as you’re in and out at the right time.
Pump and Dump : This isn’t a phrase native to cryptocurrencies, but has become part of the conversation due to the aforementioned shills. A “pump and dump” refers to buying up a bunch of coins, talking up how great the coin is, and then selling it if the price rises.
Bag Holder : Don’t be this dude! Person who buys during a high and then had not yet been opportunity to sell without losing money, so he holds onto his bag for an eternity.
BUT HEY, in agreement with the HODLers, even for purse owners, HODLing is the safest thing you can do. Happy HODLing!