HODL! To the Moon! When Lambo? Are just some terms you’ve heard and will continue hearING as long as you’re hanging around the online Crypto community. But we rarely hear people say; BUIDL! But we seem to hear HODL just about all the time.
If you’ve spent any decent amount of time in the Crypto world and community, then you’ve definitely heard of the term; HODL. A miss-spelling of the word HOLD, or it could mean Hold on for Dear Life. Either way, the meaning that both interpretations convey the same message. Or does it? Are people misunderstanding what HODL actually means, or have they just forgotten?
It seems that today’s meaning for HODLing is to hold onto your Bitcoins and Crypto without doing anything else. It’s just that. Hold, sit and wait. However, the original understanding of HODL was that during a crash or a serious Bear market, instead of selling your position in fear of the price dropping further, you’d hold onto your position. HODL!
But just hodling and waiting for something to happen isn’t the best thing we can be doing for Bitcoin, far from it. Mass adoption will never be reached if everyone just hodels their coins. Circulation and movement are needed for progress.
I recently tweeted;
" When introducing #Bitcoin and #Crypto to friends and families, do you also share and send them some wee satoshis to get them started?"
It made me think back to my friend’s wedding that I attended last year. A bunch of us all put some money into some fancy envelopes as a gift, but my wallet was short on cash. And so, I sold some of my Bitcoin to another buddy in order to be able to put some cash into the fancy envelope. Now that I think of it, perhaps I should have just given the bridegroom the Bitcoin directly!
Trading volume is important, especially for cryptocurrencies. Because at the end of the day, if the market is stagnant and lacking in buy and sell orders, then it will not matter how much you’re hodling. It will not matter how much you’ve sold or plan to sell.
Don’t be afraid to build upon and invest. Use your crypto. Trade it. Buy something online with it. Give some away to friends and family and teach others what Bitcoin and Crypto are! We’re not all drug dealers and cybercriminals using private coins to move black money around.
Time to invest. Time to BUIDL!