PokeDX — the art of fishing for salmon
Fishing is an art, maybe not fishing itself but the amount of patience you need to succeed. Just like fishing, HODL is about patience; simply holding on and waiting, no matter what happens in the big dark sea of crypto markets is hard. That is exactly why most people don’t really like it — waiting. We can all agree that it feels amazing when your investment takes off and you can enjoy that warm feeling of success, but when doubts begin to kick in, people tend to sell out and the fishing rod breaks.
You might not like the idea of holding, but you can actually learn something from it, and benefit from it in the long run. This is the one that is easy to spot but really hard to understand. Why would you ever just sit there without doing anything when everything seems to crash?
What is HODL all about?
Let’s start with a bit of blockchain history. Some argue that “HODL” originated as a misspelling of “HOLD” in an online post by an early Bitcoin investor, and as “HODL” gained popularity among crypto enthusiasts, the term got anchored in the meaning “hold on for dear life”. Although the majority may think that it only looks like a funny misspelling, HODL is also argued to be anchored in the well-tested buy-and-hold investment strategy. In short, the term is used to refer to buying and holding assets for a longer time horizon than most retail investors (especially in crypto) dare to dream about.
Here’s a great example of why “HODL” is worth it. By now we’re all aware of the big crypto boom in 2013 where the price of Bitcoin surged from 15 USD in January to over 1,100 USD at the beginning of December, delivering a return of 7,230% (corporatefinanceinstitute.com). Due to the high volatility nature, the price fell from 716 USD by 39% to 438 USD in mid-December. This is when “HODL” came into the picture, and it’s been demonstrated that the ones holding on made the right decision. In 2017, the price of Bitcoin began another surge and reached a historic high of 19,167 USD at the end of the year. Then, the price fell again, but hiked during the COVID-19 pandemic and hit a new high of over 58,000 USD in early 2021 (ibid.).
Why HODL $PDX?
As you probably know, BSC (Binance Smart Chain) is the birthplace of hundreds of start ups and projects every day. However, only a fraction — the few projects with a real use-case and a strong and supportive community– makes it to the next market cycle and beyond. Most projects are gone nearly as soon as they appear. PokeDX is not one of those projects.
For the last 5 months or so, we have been working with the good (and highly skilled) people at PopBlocks, a Berlin-based dev collective that specialises in blockchain and #DeFi applications, to build out the PokeDX charting infrastructure (among other things). And the good news is that this infrastructure is now in the final stage — tweaking and actual indexing. Once deployed, this will be the single biggest update to the PokeDX.app since we started back in September last year.
Take a look at the $PDX chart. We’ve moved through the first big sell-offs where panic spread and paperhands (and to be fair, short-term investors) sold out. We’re currently at the end of the “hodlers”-phase (the accumulation period), where the PokeDX investors who strongly believe, have continued to hold on to their salmon while #PokeDXApp transition into production beta.
Already HODLing? You are mastering the art of hodling. Just hold on to your fishing rod, allowing time for the value of your investment to materialise, and you’ll soon experience the advantages of HODL
If you are new to PokeDX — lucky you, what a time to find us. Do you want to know more about what PokeDX’s future looks like? Head over to https://www.pokedx.com for a more detailed development roadmap.
Thanks for reading and have a wonderful day!
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