What does HODL mean? And 5 top bitcoin slang terms explained
From FUD to Whale, understanding bitcoin slang can give any investor community clout during the next bitcoin bull run.
HODL is one of the most frequently used slang terms in the bitcoin community. Some people occasionally say, incorrectly, that HODL is an acronym for “Hold on for Dear Life.” While that acronym is accurate, it’s a bit of revisionist history. It turns out, HODL actually originated as a drunken misspelling of the word “hold”.
Seven years ago today, at 10:03 am UTC, an enthusiastic Bitcointalk forum user by the name of GameKyuubi posted a semi-intelligible tirade (after a few drinks, he admits) about an unfortunate bitcoin trading decision he made during a volatile price rally in December 2013.
In his post, he wrote, “I AM HODLING” in an effort to communicate that from that point on, he would simply hold his bitcoin instead of selling, no matter the market conditions. Within hours, the typo found its way onto every bitcoin community channel in the form of memes and GIFs, catapulting HODLing into crypto-vernacular history.
To this day, bitcoin’s long-term supporters have used the term as a rallying cry to remind the community to stay strong, even during the most volatile price movements. As GameKyuubi wrote, “In a zero-sum game such as this, traders can only take your money if you sell.”
HODLing plays a special role at Casa, as we see bitcoin having a greater impact on each individual that owns it, and society as a whole, when we invest in and save bitcoin for the long term. As fierce advocates of HODLing, we set the industry standards for bitcoin security and user-friendly self-custody to ensure your bitcoin stays safe and in your hands - not anyone else’s. Learn more about how you can utilize our battle-tested multisig bitcoin storage today.
Though HODLing is one of the more important bitcoin slang terms to know, it’s only the tip of the iceberg of jargon every bitcoin investor should know.
5 top crypto slang terms to add to your list
FUD: Or “Fear, Uncertainty, and Doubt” is a simple term that describes the emotions that can be felt by investors during more volatile market movement time periods, when negative mainstream news cycles occur, and other uneasy moments surrounding the bitcoin ecosystem. During these periods, Casa advises you to HODL your bitcoin despite the spread of FUD.
Rekt: Originating from the word "wrecked.” Used when referencing an investor(s) that has made a bad trade or has, in general, lost a lot of coins in some way. Like when selling their bitcoin right before the price increases significantly. You would say, “They got rekt by selling early.” (Just another reason you should HODL with Casa). The term was adopted from the digital gaming world, where it was used regularly to denote a savage loss by a player.
Stacking Sats: “Sats” comes from the term “satoshis,” derived from Satoshi Nakamoto, bitcoin’s illusive creator(s). “Sats” refers to the smallest fraction of a bitcoin that can be sent when an onchain transaction is made, which is approximately equal to 0.00000001 of a bitcoin. “Stacking sats” is a term commonly used to describe the act of regularly accumulating bitcoin—particularly in smaller increments—by buying, earning, or mining.
To the Moon: When the price of bitcoin is steadily increasing over a shorter period of time, investors regularly use the term "To the moon" to describe its upward trend.
Whale: Referring to a large bitcoin HODLer/investor. “Whales” typically hold a substantial amount of bitcoin. Thus, when a whale buys or sells bitcoin, its influence can be so strong as to make the market price move significantly upward or downward.
Whether you are stacking Sats in hopes of becoming a whale, straight-up HODLing, or are waiting for bitcoin to head to the moon, we hope this guide gives you a bit more clout in your next crypto investing conversation.
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John Tinkelenberg