Part 1
Bitcoin and the Monetary Role of Real Estate
Chapter 1
The Internet of Value
The appendix opens with behavior rather than price. HODLing marks the shift from trading bitcoin to saving in it.
“HODL” and the Emergence of Bitcoin as a Store of Value
The term “HODL” originated in 2013 on the Bitcointalk forum, when a user known as GameKyuubi posted “I AM HODLING” during a sharp price decline. What began as a misspelling became shorthand for long-term accumulation, prioritizing retention over tactical market timing.