Once you start to spend more time on crypto blogs, forums, Reddits, and other social sites you will quickly come across the verbs HODL and HODLing and the noun HODLer.
It soon becomes apparent that this is an important part of the vocabulary for the initiated, but you may wonder what this mysterious term means and what it stands for, but fear not, the mystery is solved below.
HODL means to hold. It was first used in relation to Bitcoin, and has come to mean holding on to your investment in your crypto of choice regardless of whether it is soaring to the moon and you're tempted to cash in or plumbing the depths and you're tempted to ditch it before it becomes completely worthless.
It was originally just a typo by a slightly drunk Bitcoin investor, but some have bought into the backronym Hold On for Dear Life.
For an excellent and highly entertaining read on the subject, including the original post that first coined the term, I recommend this: https://medium.com/dash-for-newbies/whats-the-backstory-on-the-word-hodl-27756392b698 article by Leah Stella Stephens.
Showing posts with label hold. Show all posts
Showing posts with label hold. Show all posts
Tuesday, 13 February 2018
Friday, 9 February 2018
Cryptocurrency investment 101 - the hardest lesson
OK, let's just get this out of the way now.
If there's one thing that anyone who's invested in cryptocurrency learns sooner or later it's this:
Whenever you bought, it was the wrong time. You should have bought earlier/later.
Whenever you sold, it was the wrong time. You should have sold earlier/later/held.
It's a painful lesson, but don't beat yourself up over it - pretty much everyone does the same thing.
Whether it's act in haste, repent at leisure or s/he who hesitates is lost, the crypto markets are volatile and brutal, and values can surge or plummet by huge amounts in hours. This gives you plenty of scope to brood over the foolishness of your actions, but don't. There will always be plenty more opportunities if you keep your eyes open.
Just make sure you're not playing with money you can't afford to lose.
If there's one thing that anyone who's invested in cryptocurrency learns sooner or later it's this:
Whenever you bought, it was the wrong time. You should have bought earlier/later.
Whenever you sold, it was the wrong time. You should have sold earlier/later/held.
It's a painful lesson, but don't beat yourself up over it - pretty much everyone does the same thing.
Whether it's act in haste, repent at leisure or s/he who hesitates is lost, the crypto markets are volatile and brutal, and values can surge or plummet by huge amounts in hours. This gives you plenty of scope to brood over the foolishness of your actions, but don't. There will always be plenty more opportunities if you keep your eyes open.
Just make sure you're not playing with money you can't afford to lose.
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