hodl HODL - Explained for Beginners

[BTC Future 3946]

As a beginner in cryptocurrencies, I also wanted to learn what HODL means and what are the origins of this phrase. I remember people crying HODL back in 2017 for months until eventually the price of Bitcoin reached $20,000 (and probably most hodlers sold).

 

Back in 2013 Bitcoin was in another bubble. Price at the beginning of the year was around $10-20 and managed to do two parabolic runs, one up to $250, which crashed back to $60 in a few weeks, and Bitcoin instantly began its next parabolic rise that eventually reached $1200 at the beginning of 2014.

BTC price in 2013 - From $15 to $1160 (Bitstamp exchange)

 

Somewhere between November 2013 with the price of Bitcoin at ~$200 a bitcointalk member with nickname GameKyuubi posted a new thread with the title "I AM HODLING" that created the epic phrase HODL. 

 

HODL was a typo as GameKyuubi was drunk at the time of writing that post and he also explained the reasons behind HODLING. 

You can read this legendary post on this link.

 

Hodl, basically means that we invest in Bitcoin instead of trading it. We Hodl, sit back and relax while occasionally watching the price rising. Basically, this is proper investing and it meant that there were people that thought of Bitcoin as an actual asset while too many were just looking for quick profits out of it.

HODL does not mean "hold on for dear life" as some people claim. This was just a later explanation by some Bitcoiner but is incorrect.

 

Best person to explain HODL is captain Picard with this meme:

 

Enjoy Bitcoin and HODL.

 

 

Edited August 21, 2020 by BTC Future

[Moontong 5312]

I really thought that hodl is different from the word hold in this crypto world because I always encounter the word hold in some forum and I really thought that it has other meaning. 

Thanks for this information, now I know that both hold and hold are just the same, it's just viral mistake.

[Mwangi 5611]

So thats what that means , really awesome, I read it in another article and it worked well for me and so am enjoying this article today because it has brought the elaborate whole situation of how the name HOLD came and thats a way to say am giving you a 5

[BTC Future 3946]

1 hour ago, Mwangi said:

so am enjoying this article today because it has brought the elaborate whole situation of how the name HOLD came and thats a way to say am giving you a 5

Thanks @Mwangi. I did this post because I remember myself asking what HODL is and didn't get a clear answer. I think that many had similar question and some people might didn't know.

Just now, mhmd7 said:

This image indicates a chart of bitcondin price change and the chart type is display as Japanese candles, and the difference between green and red candles is that green has a closing price higher than the opening price and there are many other things

Read the article please.

Edited August 21, 2020 by BTC Future

[BrolySSJ 7899]

For those that do HODL bitcoin with the recent price increases and price surges this would have proven to be very profitable for them and they would be reaping the benefits of such. also, i think that this is a great explanation and something that beginners should seriously consider as opposed to trading as there are many benefits of HODL over trading, with the main one being that it has a lower risk factor. I think that is very important. 

[bino 3576]

I once watched a video were the host explaining about Hodl. I didn't give attention about that word at first that's why I didn't know that, I just heard that hodl is a word for hold. Its funny that I  encounter this word again with more attention. Good explanation mate. 

[Irungu 4299]

As simple and easy as holding thats how we see it its something we enjoy a lot and the work we do is always the the best so we work as hard and put together lots of things and in the end we are able to balance some of the best things that in the end define everything for us

[malik6314193 5449]

I also know about that and i think now price of bitcoin will cross 20000$ in next few months because of halving. And now most hodl members will sell their bitcoin. 

[rekter 8129]

For some reason cryptocurrency scene like to adopt typos for slogans. During Binance hack CZ tweeted “Funds are safu” and that also came to be an instant classic. Probably someone will come up acronym for that as well.

[duncun007 3577]

HODL is one of the most ovverated things to do in crypto, i think hodling back in the days was easy because it was a fresh market and it still have big room to grow, but right now its just too risky to hodl any coin for such a long time.

[kitekite24 4162]

What a good topic that you made my friend and this content that you made was very informative you mention too when it was all started. This is a new knowledge for us beginners to know and we know on this that we should invest bitcoin instead of trading. Thank you for this informative post my friend.

[Moaz 7239]

There are many bitcoin users who earn large money without any risk. They only bought large quantities of bitcoin and kept them for a long time and then sold them when the price of bitcoin rose, and it is possible that bitcoin will rise in an unprecedented way in the coming months and may exceed $ 20,000 and  This is an opportunity for many Bitcoin users to make big profits

[Raqeebzy 6456]

8 hours ago, BTC Future said:

HODL does not mean "hold on for dear life" as some people claim. This was just a later explanation by some Bitcoiner but is incorrect.

Actually, a lot don't know this. At first I also thought it was an acronym and a cryptocurrency term. But looking at it logically, I think it still represent the same thing. It is nice reading the story for the first time. Thanks for sharing this.

[Izeal 4404]

9 hours ago, Moontong said:

I really thought that hodl is different from the word hold in this crypto world because I always encounter the word hold in some forum and I really thought that it has other meaning. 

Thanks for this information, now I know that both hold and hold are just the same, it's just viral mistake.

As we go deeper and deeper we learn a lot of things and this forum never stops to teach us new thing. I think holding is one of the best option if you don't know how to utilize because you can loose even with a single mistake. So, hodl for long time then you can get high profit.

[Whited35 15285]

9 hours ago, BTC Future said:

HODL was a typo as GameKyuubi was drunk at the time of writing that post and he also explained the reasons behind HODLING. 

I really did not care about this term before.Once I  participated in a contest on a rewarding site  Reward Portal by designing a meme. I wrote "HOLD" instead of "HODL" to be disqualified. After that I learned to read every letters in a word to avoid minor but extremely sensitive mistakes. Thanks for this timely created excellent and informative post. 

[Mosab73 333]

Hello Finally, this is the fact Hodl in general. This was a useful and interesting piece of information. Thank you my friend

[koussai999 1986]

I believe that the power of Bitcoin and cryptocurrencies comes from this matter because many agencies store large quantities of cryptocurrencies to invest in them through long-term investment.

[BTC Future 3946]

@marce9427 I don't know what you are trying to accomplish but you should know that some things are obvious.

 

What you are writing above means that you didn't read my post and just wrote some things you incorrectly think. And just because I have free time I will analyze everything you wrote so you see that it is irrelevant to my post.

 

1 hour ago, marce9427 said:

Over time, the community that is around cryptocurrencies and Bitcoin, have created expressions and terms that sometimes cost us a little difficult to understand, when we have little experience and knowledge

I guess that is an intro. Without any meaning though. What does it mean anyway?

What does "cost us little difficult to understand, when we have little experience" means? Make no sense.

 

1 hour ago, marce9427 said:

I understand that Hold, that the origin of this was a mistake. However, it is very popular within cryptocurrency investors.

Since you understand and know it, the post was obviously not about you. Being popular or not does not matter.

 

1 hour ago, marce9427 said:

When making investments in cryptocurrencies, one of the things to keep in mind is that even if we see that its price is falling, it should be held and not sell its Bitcoins.

My post was not about that but you didn't get it. I don't trade and don't enjoy trading. As the person that created the HODL quote was a bad trader, same is me. I don't trade much because by HODLING I make more.

 

1 hour ago, marce9427 said:

Hold, is more than a whole type of strategy implemented by investors, since many received large profits for having held some cryptocurrencies at the end of 2017.

HODL means investing. The guy made the phrase in 2013 with price being $200-300 not $20,000. Don't you see a x100 difference? Obviously you just read the whole post in a few seconds and missed important facts.

 

1 hour ago, marce9427 said:

However, this strategy is dying more and more, since they focused more on a website, which indicates the lists of certain dead cryptocurrencies

What are you talking about? Seriously what is this? What website? Which list of dead cryptocurrencies? Up to this I understood some of your arguments but at this point you make no sense at all. 

1 hour ago, marce9427 said:

All these cryptocurrencies are classified as scams. 

Which cryptocurrencies are you talking about??? I am talking about Bitcoin not some shitcoins. This is just random staff detached from anything I've written in my post.

1 hour ago, marce9427 said:

That is, we are witnessing the fall of the myth of cryptocurrencies, in terms of the market it has been transformed and everyone is going towards a more competitive term.

Again some random thoughts that have nothing to do with the subject. Seriously "we are witnessing the fall of the myth of cryptocurrencies"? Why are you here then? Why are you in a cryptocurrency forum? You are joking in all your posts, provide wrong information and you tell us that we are witnessing the fall of a myth? 

Especially when nothing is falling but everything is rising?

 

You didn't even care to correct the other article I mentioned weeks earlier. You make incomplete posts full of mistakes that get deleted because you don't care to improve or do research about what is valid and what is wrong. Half of your reply made no sense. If you disagree read again and again each sentence and my reply.

 

Finally do not quote the whole post as you filled the page with my post again. You didn't need to do that at all. Your post can easily be considered spam and out of topic, but I didn't report as I wanted to reply to you in case you decide to improve. If you reply to this post and quote it entirely I will report though, as it will mean that you didn't read it.

Anyway refrain from opening irrelevant discussions on other people topics. HODL is not about "dying" cryptocurrencies it is only about Bitcoin. And this is explained in my post.

Edited August 21, 2020 by BTC Future

[George10 9932]

Holding is a great way of investing especially for beginners in crypto currency because it doesn't require much knowledge as you just need to buy and relax back waiting for the price to rise and sell in profits but this may take sometime to see good results and it's for those with patience not looking for fast profits or money.

[BTC Future 3946]

7 hours ago, George10 said:

but this may take sometime to see good results and it's for those with patience not looking for fast profits or money.

Indeed. By the way I didn't make this post to tell someone to buy and hold. It was an explanation of a term. I never stated that this is what someone should be doing. I always tell people to try and find entry points that reduce risk.

[Moontong 5312]

11 minutes ago, BTC Future said:

Indeed. By the way, I didn't make this post to tell someone to buy and hold. It was an explanation of a term. I never stated that this is what someone should be doing. I always tell people to try and find entry points that reduce risk.

Yeah but actually holding is also good for every bitcoin user, we should always hold our money and wait for the bitcoin inflation so our money will become profitable. It is one way to invest and save your money.

[BTC Future 3946]

1 hour ago, Moontong said:

Yeah but actually holding is also good for every bitcoin user, we should always hold our money and wait for the bitcoin inflation so our money will become profitable. It is one way to invest and save your money.

Exactly. The point is that Bitcoin's price has high volatility and people like to trade but instead we can just invest. It seems that there is interest in Bitcoin and if noone sells price will go up eventually. Hodl means growing tough skin and not be affected by news, fud, expert traders telling you to sell right at the bottom, etc. 

I've talked in the past with an early investor that had bought in 2013 and this was what he was doing. It demanded patience and extreme nerves as the money was growing into a fortune. 50 BTC in the top in 2017 was a million dollar. Meanwhile this guy had bought the 50BTC for 10K.

[Honny143 13612]

14 hours ago, SilverF said:

Most in 2014 they were only looking for instant profits and basically no one saved their profits, it was not necessary since the faucets generated a lot of satoshis daily, this is why the network overload happened, I remember that the transactions took up to a week to process  and an increase in the transaction fee occurred.

 

It was then that the term HODL began to become something famous, many recommended saving the satoshis or investing them, a few weeks later there was an increase to 1,200 dollars, showing that in the long run the holding was the best way to invest.

 

old days where you could earn up to $ 100 a week with faucets and dedication

Faucets pays same amount in past are present they pays only few cents every claim, but past we earn good profit because the miracle do crypto currency and the price fluctuation power,, imagine if we claim faucets when bitcoin price 10$ dollars and earn few cents of bitcoins, and HODL this coins few months later bitcoin price reach 100$ dollars, then these few cents convert into few dollars, means 10x profit within few months and that time bitcoin prices also low but now bitcoin prices high that is the reason now faucets not profitable,     ( HODLING in crypto always profitable just we need some patients.)

[Calvinpriva 17296]

Yap, HODL is the best investment in cryptocurrencies. Its true you can invest in holding then seat down and relax while you watch the prices increasing and take your profit. We just need to know the right point to buy coins and hold them so that we can avoid unexpected bearish surprises. 

[Omar Ommeish 4872]

20 hours ago, malik6314193 said:

I also know about that and i think now price of bitcoin will cross 20000$ in next few months because of halving. And now most hodl members will sell their bitcoin. 

Yes, you are right, because most analysts and traders believe that the price of Bitcoin will definitely increase by the end of the year and may rise to a more historical price than what it reached in 2017.