Bitcoin’s HODL Culture

Bitcoin HODL culture is extremely important. This discussion arises from our discussion about Kaspa and whether Kaspa will be the next Bitcoin.

In a follow-up video, I discussed how the Bitcoin network was bootstrapped. Derridaaa commented about Kaspa Maxi channels discussing when to take profits.

The idea of taking profits is really a crypto thing.

For Example: “My Kaspa Exit Strategy” and “When to Take Profits” are common topics. They’re all tied to Bitcoin because it’s the only real digital asset that matters.

Bitcoin culture is very different. The first rule of Bitcoin is: You never sell your Bitcoin.

This is perfectly captured in the Batman and Robin meme:

Altcoiners, or “shipcoiners,” are often puzzled by Bitcoin’s HODL culture.

Shipcoiners are used to taking profits frequently, subconsciously understanding that they are the exit liquidity for venture capitalists and others who dump their coins on retail investors. The entire concept of HODL’ing is lost on shipcoiners. They either take profits to buy depreciating assets like Lamborghinis or jump from one crypto horse to the next.

This lifestyle is exhausting!

Bitcoin is the goal, the exit, the destination. It’s not just another stop on a gambler’s journey.

Bitcoin is the Inn at the end of your journey where you can relax, knowing your money is safe and secure and will continue to gain purchasing power. The smartest crypto scammers understand this.

The 'crypto industry' is a game where more intelligent and more evil people than you try to take your BTC in various ways.

For Example: the EOS scammers at Block.one issued EOS, dumped it on retail investors, and bought Bitcoin.

Block.one now owns 164,000 Bitcoin, while EOS retail bag holders lost purchasing power.

Many in crypto misunderstand Bitcoin’s HODL culture.

Kainoslyfe commented:

Tien1millkion reponsed:

Bitcoin is like your savings. You only use it to buy what you need. Cryptos are like casino chips; you bet black and hope you’ll win or cash out to cut your loss. Bitcoin HODLing culture fosters virtues of self-control, less materialism, and a focus on relationships and experiences. It’s important for both individuals and the Bitcoin ecosystem.

HODLing culture is important for the individual and for the family because it breeds the virtues of:

• self-control

• being less materialistic

• low-time preference thinking

HODLing is also important for the Bitcoin ecosystem and its network effects.

A circular economy for Bitcoin can only develop if people are willing to HODL. Even Monero, a cool crypto, fails here because dark web drug dealers dump it for Bitcoin when building their long-term savings. Bitcoin HODLers are stronger than Monero HODLers.

… as you can see by the chart below, which shows Monero’s continuous loss of value against Bitcoin.

I wish all of you a happy 4th of July. Bitcoin is the spiritual successor to the decentralized governance model the U.S. Founding Fathers laid out. The American Revolution showed one way out of tyranny.

The Bitcoin Revolution we’re fighting today is against petty tyrants, bureaucrats, politicians, and their central bank puppet masters — not kings.

Bitcoin is freedom money for everyone worldwide, not just Americans.

Bitcoin University is an educational channel devoted to Bitcoin, financial freedom, and self-sovereignty. Matthew also covers relevant macro and financial news. 

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