We crypto holders, also known as HODLers, have been holding our bags of bitcoin and altcoins for a couple months since December 2017’s all-time-highs with no profits in sight.
We have received a message from the crypto gods to guide our efforts to HODL our way to crypto paradise.
10 HODL Commandments for the chosen few, the HODLers
1) Never Sell
Thou shall put no other forms of currency before cryptocurrency. Selling Bitcoin for fiat is the ultimate, unpardonable sin.
2) Buy the Dip
Thou shall acquire more cryptocurrency during major price dips in fiat value.
3) Take Profits in Bitcoin
Thou shalt never use fiat value as a measurement to take profits from altcoin investments. Only sell altcoins for profits measured in Bitcoin value.
4) Ignore FUD
Thou shalt not take seriously any news which causes fear, uncertainty, or doubt; including government bans, exchange hacks, or anti-crypto headlines from mainstream media.
5) Transact P2P When Possible
Honor the decentralized philosophy of distributing economic control away from central authorities by using peer-to-peer transactions when possible.
6) Spread the Good Word
Sow seeds of belief in the future of crypto with friends and family. Share information to help educate them so they can make their own decisions.
7) Control Your Private Keys
Thou shalt never put blind faith in a third party exchange for the safety and security of your cryptocurrency. Always control your private keys.
8) Don’t FOMO Buy
Thou shalt not be distracted by other coins with pumping prices and market cap rankings. Selling the coins you believe in for fear of missing out is not part of an acceptable plan for any true hodler.
9) Remember the Halving
Remember the Bitcoin halving once every four years. Keep it as a holy day for the observation of the scarcity and value of coins with limited supply.
Thou shall always Do Your Own Research before investing in cryptocurrency or blockchain projects. Never take one single source as the truth.