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HODL your horses, cryptos face possible hurdles ahead, experts sayBy Divya Chowdhury LONDON
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Anyone have a meaning for me as to what this is expressing?
Its not a misspelling. Please teach yourself some basics of crypto before jumping onto any random conclusions.
for most of the crypto inverstors HODL is a slang which refers to "Hold On for Dear Life"
Aha, now I say you've got a point ..!!!
it may have originated as a typo from a drunkard post, but it went viral and everyone liked it so much that they found an acronym to fit it perfectly.
Its like the word KANGAROO (hope u know that story....)
In any case, a person with any degree of education - especially one who claims so regularly that they ‘study’ extensively - would type (or copy and paste)‘HODL’ into a search engine to find an answer rather than asking the question on a forum.
Charlie Munger (Buffett's pal) on btc:
"Of course, I hate the Bitcoin success...Nor do I like just shuffling out of extra billions and billions and billions of dollars to somebody who just invented a new financial product out of thin air."
"So, I think I should say modestly that I think the whole damn development is disgusting and contrary to the interests of civilization. And I'll leave the criticism to others."
I don't see crypto currencies replacing national currencies for daily use. It will end up being an investment product with considerable risk and volatile price swings. The value of a single bitcoin is much too great for day to day use. It's like trying to buy the weekly groceries with a gold ingot! What good is it too me for day to day use? At best you sell a bitcoin for Dollars, Yen, Euros or what have you and use those to actually buy things and pay employees.
As a person with a business, I need to know the value of what I earned today is not going to be lost by the kinds of wild price swings one sees with a crypto currency, or with gold and silver for that matter. A well regulated national currency should have price stability over time. This permits businesses to make and execute plans. When the value of your holdings varies ten percent in a given day as one sees with crypto currencies it is very difficult to plan ahead with any degree of certainty. I think the crypto currency enthusiasts miss this. The get a big thrill out of the price swings but as someone in business for the long haul that price volatility is not useful to me and is in fact a major problem I do not wish to be forced to accept. A big firm might take a position in a crypto currency as an investment but I cannot imaging basing my rent on bitcoin knowing the value of those Bitcoin and thus my rental income can vary widely with the variations in Bitcoin value. The swings are not an increase in value. One can lose a great deal when the value of Bitcoin falls.