Central Pennsylvania Bitcoiners on Nostr: Greetings Central PA Bitcoiners! Happy Hodl Day! What's Hodl Day, you might ask? It's ...
Greetings Central PA Bitcoiners!
Happy Hodl Day!
What's Hodl Day, you might ask? It's the anniversary of when the meme "hodl" was born. Eleven years ago today, on the bitcointalk.org forum (Source Link Below), user GameKyuubi, frustrated by his failed trading attempts, went on a drunken and profanity-laden rant. He lamented that he kept making bad trades, and regretted that he didn't just hold his bitcoin position rather than trying to outsmart the market. The title of his post was "I AM HODLING". Little did he know that his typo would go down in history as a favorite term of bitcoiners.
There are some misconceptions about what hodl means. One has been propagated by corporate news, who created the backronym "hodl = hold on for dear life". Not one of the more dastardly pieces of misinformation they've tried to disseminate about bitcoin, however hodl's creation stems from the aforementioned post on the bitcointalk forum, not an acronym.
The other big misconception is that hodl means to never spend one's bitcoin. A crucial function of a money is spending it at a later date, hopefully on something that improves your life or the lives of those you care about. One can still be a hodler and spend some of their bitcoin...the process of hodling does make one more choosy about what they spend their money on, however.
Hodl can also be used as a noun, ie "I keep my spending sats in Blue Wallet and my hodl on a Passport hardware device". An analogy to fiat would be making the distinction between dollars in a checking account and dollars in a 401k. Your hodl is the stack that is in its forever home, so to speak.
When you expect your money to consistently go down in value, you want to spend it quickly to realize its maximum value. The dollar bill in your pocket will never be worth more than it is right now...its value will only go down. When you expect your money to consistently go up in value, you want to spend it more conservatively...you want to hodl it.
Happy Hodl Day!
Lonelypumpkins (nprofile…m5vw)
Central Pennsylvania Bitcoiners (nprofile…3w8n)
Origin Story: https://bitcointalk.org/index.php?topic=375643.0
Happy Hodl Day!
What's Hodl Day, you might ask? It's the anniversary of when the meme "hodl" was born. Eleven years ago today, on the bitcointalk.org forum (Source Link Below), user GameKyuubi, frustrated by his failed trading attempts, went on a drunken and profanity-laden rant. He lamented that he kept making bad trades, and regretted that he didn't just hold his bitcoin position rather than trying to outsmart the market. The title of his post was "I AM HODLING". Little did he know that his typo would go down in history as a favorite term of bitcoiners.
There are some misconceptions about what hodl means. One has been propagated by corporate news, who created the backronym "hodl = hold on for dear life". Not one of the more dastardly pieces of misinformation they've tried to disseminate about bitcoin, however hodl's creation stems from the aforementioned post on the bitcointalk forum, not an acronym.
The other big misconception is that hodl means to never spend one's bitcoin. A crucial function of a money is spending it at a later date, hopefully on something that improves your life or the lives of those you care about. One can still be a hodler and spend some of their bitcoin...the process of hodling does make one more choosy about what they spend their money on, however.
Hodl can also be used as a noun, ie "I keep my spending sats in Blue Wallet and my hodl on a Passport hardware device". An analogy to fiat would be making the distinction between dollars in a checking account and dollars in a 401k. Your hodl is the stack that is in its forever home, so to speak.
When you expect your money to consistently go down in value, you want to spend it quickly to realize its maximum value. The dollar bill in your pocket will never be worth more than it is right now...its value will only go down. When you expect your money to consistently go up in value, you want to spend it more conservatively...you want to hodl it.
Happy Hodl Day!
Lonelypumpkins (nprofile…m5vw)
Central Pennsylvania Bitcoiners (nprofile…3w8n)
Origin Story: https://bitcointalk.org/index.php?topic=375643.0