The term “HODL”, which originated from a typo by a user of the Bitcointalk forum, has survived the ages and is now a symbol of patience and conviction. A look back at the origin of this original expression, which is inseparable from Bitcoin (BTC) culture
An expression that has become a meme
Whether it’s on the French crypto-Twitter, via sites specializing in Bitcoin (BTC) and crypto-currencies or even on dedicated Discord channels, one expression always comes up: “HODL”.
“HODL” … But what does that mean? And where did this expression, now embedded in the culture of Bitcoin and other cryptocurrency maximalists, come from?
Today, we tell you how a simple typo has become a rallying cry for millions.
A typo adopted as a mantra
The term “HODL” originally originated from a typo by a user named GameKyuubi on the Bitcointalk forum. In the original thread entitled “I AM HODLING”, GameKyuubi wrote in December 2013:
“Why am I holding out? I’ll tell you why. It’s because I’m a bad trader and I know I’m a bad trader. “
Original post by GameKyuubi on the Bitcointalk forum
In his message, he explains how, despite the ups and downs of the market, he is in control and not panicking. Aware that experienced investors, the “smart money”, are taking the brunt of BTC sold by weak hands during corrections and capitulations, he shows his determination not to be shaken by price volatility.
“You only sell in a bear market if you are a good day trader or a disillusioned novice. The people in between are holding their own. In a zero-sum game like this, traders can only take your money if you sell. “
In writing this piece, GameKyuubi repeatedly misspelled the word “hold”, meaning “to hold”, “to hold fast”, “to stay strong” or “to hold on”. By swapping the letters “l” and “d”, he has created a distorted word: “HODL”.
Far from holding this mistake against him, the community reacted to his message with strong solidarity and adopted this term, which over time became a symbol: that of unfailing determination.
A symbol of patience and firmness
HODL is a term widely used among cryptocurrency investors who refuse to sell their assets despite a sharp drop in price. It is sometimes associated with a powerful stubbornness that characterizes the underlying psychology of this term: do not sell under ANY circumstances.
It reminds me of the beginning of the year when we lost 50% but no one wanted to talk about “bear market”, what a joke, and how many got cut because they were told “but no it’s not a bear market”…it’s dangerous, let’s be objective.
– Nicolas Chéron (@NCheron_bourse) January 10, 2022
It is therefore not surprising that the hashtag hodl flourishes during corrections, when participants hold on to their BTC and rally around the notion of being firm and patient to hold on.
Below, we can see the increasing number of mentions of the term “HODL” as the Bitcoin (BTC) price progressed through the correction that began in November 2021.
Evolution of HODL on Twitter (Source: Santiment)
