For Bitcoin investors and cryptocurrency enthusiasts worldwide, there seems to be a trend for creating new words that we can all laugh at. Perhaps it’s an attempt to cheer us all up during retreating markets, or, perhaps we’re just far too easily entertained? Either way, you’ve probably heard of HODL before, or at least, you’ll have been told to HODL without actually having any idea what it means.
The word HODL is a play on the word ‘Hold’. HODL stemmed from a mispelling on an online forum, when a writer was referring to cryptocurrency investors, telling them to hold their investment and to not sell yet, simply because they believed that bigger returns could be made later on. Indeed, this sentiment still exists within the markets, hold now and sell later, when the price will be even better. The aforementioned writer mistakenly wrote ‘hodl’ instead of ‘hold’, unknowingly kickstarting a new trend and a bit of a crypto revolution. Now, HODL is more than a buzzword, for some, it’s an identity.
This brings us to our point, the introduction of a new word created by our community, though apparently, this one has been trademarked by Coinbase, so the liberty behind it is a little questionable.
BUIDL, is the latest buzzword to storm the community, but what on earth does it mean? BUIDL is a play on the word ‘build’ and refers to new attitudes within the cryptosphere that are trying to get us to move away from the notion of HODLing, in order to constantly keep spending, expanding and developing our portfolio. Holding, literally refers to just holding on to what we have and waiting for the storm out. The building, however, refers to taking advantage of climate changes and being technical with your trading. It’s a strategy that requires more interaction with your portfolio, but it’s one that could eventually make you rich, apparently.
Coinbase apply for BUIDL trademark
Indeed, as stated earlier, Coinbase have applied for a trademark on the word BUIDL. According to Mashable:
“In its trademark application, filed this October, Coinbase says it plans to use the term in connection with software as a service (SAAS) services featuring software for transactions using virtual currency, namely, software for managing, buying, selling, storing, transacting, exchanging, sending and receiving virtual currency; Providing temporary use of non-downloadable computer software for use in accessing, reading, tracking, trading and using tokens via blockchain technology. So, anything blockchain-related, then.”
We find it a bit unsettling that Coinbase, a company that wants to encourage decentralisation, have actually taken steps to seek ownership of a word that has been developed within the crypto community. It’s quite ironic, and we can’t really see why they would want to ‘own’ the word, but I guess they must have good reason for it?
Either way, there we have it. Stop HODLing, and start BUIDLing!