Cryptocabulary of the Week: HODL
“Give me your tired, your poor, your huddled masses yearning to breathe free, the wretched refuse of your teeming shore. Send these, the homeless, tempest-tossed to me, I lift my lamp beside the golden door!” - Emma Lazarus, from the famous 1883 sonnet "The New Colossus".
The turn of the 20th Century was the dawned of new day for America, and for many beyond her shores. People the world over were dreaming of a new start--a restart from heartache, toil, and oppression. Hearing the stories coming back to them from across the sea about freedom, prosperity--even free land, was enough to spark the flame of hope in hearts of the huddling masses, struggling to scratch an existence in their native lands. It was enough for them to forsake the homelands of their parents and grandparents, and to risks the perils--to losing everything, for the promise of a new and beautiful life.
Success varied wildly among those who migrated to the "new country". Some achieved great wealth, while many more ended in tragedy. But all who came across the great sea shared the same spirit and perseverance--to risk it all in order to lay claim to a bit of land and all the prosperity that they could make it bring forth!
Fast forward 100+ years and yet again the once-free are now the oppressed, much by their own doing. Forgetting the old stories told by their forefathers, generation after generation began to trade freedoms for cages, land owners became serfs. The gilded words, "The American Dream" have become hollow and dull, like some old, cracked and tarnished bell relegated to the history books and museum. And in some dilapidated city streets, the phrase has become a byword.
As such, we find ourselves at the dawning of yet another new day. But this time, the huddled masses have become the HODLed masses!
HODL: A Rally Cry!
Okay, the term HODL didn't find its origin on some distant battlefield or in the speech some famous orator. Rather, it derives from the misspelled word "hold", which in this context refers to the buy-and-hold strategies of cryptocurrencies. And actually, its origin is quite humorous...
"The term HODL (or hodl) originated in 2013 with a post to the bitcointalk forum...At 10:03 a.m. UTC on Dec. 18, GameKyuubi posted "I AM HODLING," a drunk, semi-coherent, typo-laden rant about his poor trading skills and determination to simply hold his bitcoin from that point on. "I type d that tyitle twice because I knew it was wrong the first time. Still wrong. w/e," he wrote about the now-famous misspelling of "holding." "WHY AM I HOLDING? I'LL TELL YOU WHY," he continued. "It's because I'm a bad trader and I KNOW I'M A BAD TRADER. Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro."
"He concluded that the best course was to hold, since, 'You only sell in a bear market if you are a good day trader or an illusioned noob. The people inbetween hold. In a zero-sum game such as this, traders can only take your money if you sell.' He then confessed he'd had some whiskey and briefly mused about the spelling of whisk(e)y.
"Within an hour HODL had made its way into memes: the movies 300 and Braveheart provided the initial source material, but there are now countless HODL memes floating around the internet (Game of Thrones' Hodor is a favorite subject)." (https://www.investopedia.com/terms/h/hodl.asp)
Since then, HODL has evolved from an investment byword to a rally cry of the main street, crypto-holder. It has taken on another spirit and energy altogether, with an acronym that's become a mantra: "Hold on for dear life!"
"For hard-core believers in cryptocurrency, known as maximalists, HODL represents more than a strategy for reigning in FOMO, FUD, and other profit-eroding emotions. These true believers hodl because they think cryptocurrencies will eventually replace fiat currencies and form the basis of all future economic structures."
HODLing is the embodiment of hope. The hope of a new start--a restart from heartache, toil, and oppression. The hope that cryptocurrencies, and the technologies that they are built upon, will usher in a new prosperity; and the holder will no longer be at the mercy of their lords and masters of the fiat system. For many, cryptocurrency has become the shores of a new promise land.
HODLing Above the Sun
For those who resource their life above the sun, HODLing is a natural and daily attitude. Their hope for everlasting freedom and prosperity is HODLed in the One who fashioned them with His breathe. HODLing their transcendent wealth of relationship with the One whose wealth knows no end, these relationship maximalists understand the secret of "holding on for dear life". For them, it is the promise of The New Day.
However you choose to use the term, may it empower you to dream big and hope large for your future! Keep HODLing, onwards and upwards!
"Live Above The Sun"
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