”HODL” was originally a typo, which was so popular that turned into an abbreviation for ”Hold on for dear life”.
What is “HODL”?
On December 18, 2013, on BitCoinTalk Forum, a user named GameKyuubi made a post called "I AM HODLING", in which He tries to prove to everyone that bitcoins need to be supported.
Apparently he was drunk, but the crypto community quickly picked up the word "hodling" in the meaning of " keeping the cryptocurrency with confidence in its imminent growth".
In 2017, Quartz (news website listed it as one of the essential slang terms in Bitcoin culture, and described it as a stance, "to stay invested in bitcoin and not to capitulate in the face of plunging prices"crypto HODL – Wikipedia.
The HODLer Manifesto
This manifesto hosted on GitHub Pages and consist of 8 rules:
Rule 1: A True HODLer Does Not Sell Their Coin HODler The first and most important rule of the HODLer Manifesto is to never sell your coin. A HODLer may spend their coin (see rule 5), but a HODLer does not sell. Only the weak sell, and they soon regret doing so.
Rule 2: A True HODLer Buys the Dip If the fiat price of their coin drops, a HODLer will buy more, provided they have the means to do so. Under no circumstances would a HODLer panic sell because they see the price going down. The only case where a HODLer is not regularly buying the dips is when all their fiat is already invested.
Rule 3: A True HODLer Remains Steadfast In Spite of FUD Whether there’s news that China is banning your coin again, or your favourite exchanged got hacked, you as a HODLer will continue to HODL. A HODLer stays the course regardless of who is sowing seeds of fear, uncertainty, and doubt. Disregard the news. Remember that the naysayers are usually those who have a lot to lose from your coin’s success, or those who resent HODLers for going to the moon.
Rule 4: A True HODLer Keeps Their Coins Off Exchanges and Online Wallets Wallet No exchange or online wallet is immune from rogue employees, security mistakes, or simple negligence. A HODLer will keep their coins secure by using a paper or hardware wallet, instead of relying on any third parties for custody or safe keeping. A HODLer always controls their own private keys.
Rule 5: A True HODLer Buys Goods and Services With Their Coin Should you decide to spend your coins, find vendors who accept your coins directly rather than selling or using fiat-based bridges (such as prepaid Visa cards). By spending your coins, you fuel the ecosystem of fellow HODLers. Do not become a spendthrift either, or you will soon find yourself without coin.
Rule 6: A True HODLer Spreads the Good Word Sharing is Caring Do tell your friends and family about the goodness of your coin, but do not be pushy, or pressure others into buying your coin. They may not share the same values as you. Try to educate them without being patronizing, and stick to the facts rather than appealing to emotions (like FOMO). Refer them to good resources, and let them make up their own mind.
Rule 7: A True HODLer Does Not Get FOMO When Another Coin Rises When you see other coins quickly rising in market cap rankings, you will not be distracted. They too will fall back from whence they came. Resist the temptation to dump your coin and pump another. This is usually a futile exercise, and is a quick way to make a big fortune into a small fortune. If you do, in spite of better sense, decide to purchase a new coin, weight your holdings by market cap to manage your risk.
Rule 8: A True HODLer Will Run Their Own Full Node To ensure their coin remains healthy, and to participate in consensus, a HODLer runs their own full node if possible. There is truth in numbers, and a HODLer will always remain true to their coin. By participating in consensus a HODLer is in complete control of their own destiny, free from tyranny, censorship, and oppression.
HOdlcoin (HODL) Online From CoinMarketCap