If you’ve got more than a passing interest in Bitcoin and have dived in, then you’re probably hanging out on a bunch of message boards with other investors getting pretty confused about what people are saying when they’re throwing around terms like ATH, Fiat and HODL. Don’t worry, it happens to everyone.
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Whilst it’s fairly easy to figure out some of them (just Google them), I never really got why people were saying HODL when they were talking about holding their stake in the cryptocurrency, usually after it had dropped massively in value. Well, now I’ve found out and it’s actually a pretty jokes story, courtesy of a drunk ramble on a message board after Bitcoin fell massively in value four years ago.
By massively in value, I mean as in a 50% drop overnight. That’s gotta make you feel pretty sore if you had thrown a lot of money at it and that’s exactly how this guy felt, dealing with his problems by drinking on his own and posting on the internet and birthing the legend of HODL.
Take it away:
— Neeraj K. Agrawal (@NeerajKA) December 18, 2017
So that’s basically it. One guy spelled ‘hold’ wrong on the internet and so now all Bitcoin investors say HODL instead of hold whenever they’re talking about keeping hold of their assets. Really stupid, but I suppose you can’t really expect anything else when you’re dealing with this kind of stuff, can you?
For more Bitcoin, check out John McAfee’s take on it. Will you invest?