For all you Bitcoin and alt coin fanatics, this one’s for you! Pete the Cooler enjoys using financial acronyms to shorten very complicated financial terms, just like the big boys of the financial world do so each week (ok, sometimes spastically three times a day) I introduce a new term. It sounds so slick, suave, and sophisticated to rattle off a bunch of terms to show your superior financial intellect. So today, in honor of the cryptocurrency diehards and Bitcoin buggers, I will teach you the meaning of HODL.
Jeff Koyen does a nice job of documenting the bitcoin slang for NYMag, but let’s be honest, there are often truer meanings lying subtly below the surface. As such, I ask you to disregard the commonly recognized definition of HODL: Hold On for Dear Life.
As the article points out, there are other uses of HODL as well:
Hodl: The intentionally misspelled word hodl has its roots in a December 2013 post on the Bitcoin Talk forum, “I AM HODLING”; when the author, GameKyuubi, couldn’t be bothered to fix his typo, the community instantly turned it into a verb: to hodl. Along
with other terms, hodl is an effective litmus test for sussing out newcomers, carpetbaggers, and tourists.
Now, normally I recommend maintaining a forced power pose while using these terms to ensure that others submit to your prowess or mistakenly assume you are a maniacal overlord scheming for world domination, before they return to Facebook and Twitter to their own future detriment.
I’m going to waive that rule today, since mostly you will use this term from behind a computer so nobody will see you unless you are a super geek chatting with a webcam or you are the last one to realize you can be spied on through your own webcam and you haven’t put tape over the lens. Also, if you articulate “ho-dal” in person you will just sound stupid.
Financial Acronyms – HODL
So the truest meaning of the term HODL is: Happily Overlook Delusions & Lies (HODL) which reveals the commitment to HOPE (Highly Optimistic Price Estimates) and ignoring many fundamental flaws of bitcoin.
Using it in a sentence looks like this: You got to know when to hold ’em, know when to fold ’em, know when to walk away, and stop HODL!
Those sneaker-shoe guys in the basement chewing on Xanax will start using this one for sure.
And, there are a lot more jewels where that came from. I’ll keep rolling out financial acronyms weekly (or so) as we go down this PtC rabbit hole together.