On December 8th, 2013, the user GameKyuubi, posted a thread titled I AM HODLING. In the post, he acknowledges that he is under the influence of alcohol and explains his reason for holding BTC in a bear market. He knows that he is a bad trader and that only day traders and inexperienced beginners sell in a bear market. The post said:
I type d that tyitle twice because I knew it was wrong the first time. Still wrong. w/e. GF's out at a lesbian bar, BTC crashing WHY AM I HODLING? I'LL TELL YOU WHY. It's because I'm a bad trader and I KNOW I'M A BAD TRADER. Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro. Likewise the weak hands are like OH NO IT'S GOING DOWN I'M GONNA SELL he he he and then they're like OH GOD MY ASSHOLE when the SMART traders who KNOW WHAT THE FUCK THEY'RE DOING buy back in but you know what? I'm not part of that group. When the traders buy back in I'm already part of the market capital so GUESS WHO YOU'RE CHEATING day traders NOT ME~! Those taunt threads saying "OHH YOU SHOULD HAVE SOLD" YEAH NO SHIT. NO SHIT I SHOULD HAVE SOLD. I SHOULD HAVE SOLD MOMENTS BEFORE EVERY SELL AND BOUGHT MOMENTS BEFORE EVERY BUY BUT YOU KNOW WHAT NOT EVERYBODY IS AS COOL AS YOU. You only sell in a bear market if you are a good day trader or an illusioned noob. The people inbetween hold. In a zero-sum game such as this, traders can only take your money if you sell.
so i've had some whiskey
actually on the bottle it's spelled whisky
(but only if it's payable in BTC)
Reactions from others to the post found amusement to the word HODL and started to use the spelling themselves with accompanying memes. Since its initial publishing, as of September 2017, the post has been read over 530,000 times. Discussions about the HODL meme have continued on Reddit, Urban Dictionary, and Bitcoin Talk and is used daily on Twitter and Instagram.