👊🏿 [Analysis] Hodlers are the revolutionaries – Dan Held

Early hodlers believed in Bitcoin despite the overwhelming negativity and false information. Hodlers had stronger risk appetite to weather the volatility of being a first mover. They’re practitioners of skin in the game. Holding Bitcoin ($BTC) is the exact opposite of speculation. By holding money you invest in the economy as a whole. Every time you choose to retain money you decrease the available amount in circulation. This leads to the increase of purchasing power per unit of that money. By holding Bitcoin the price per unit increases. The more people hold Bitcoin in the long run, the more volatility drops towards a gradual increase in price. This convergence towards a stable increase in price makes Bitcoin more attractive to new audiences, creating a feedback loop. The increase in Bitcoin’s price has corresponding virality. And as it expands, hodling becomes popular with people with a lower risk appetite, pulling in more and more network effect into the Bitcoin black hole. With each of those boom/bust cycles we’ve seen Bitcoin redistributed from old hodlers to new hodlers via selling, decreasing the Gini Coefficient. Money is a winner-take-all technology, driven by network effects. The crypto with the most hodlers, therefore, is the most demanded by consumers and will be the ultimate winner. The faith in a new financial system is what binds everything together. Bitcoin is not just a software project. It’s a method of coordination for a large group of people who face powerful adversaries. Bitcoin promises an alternative for citizens across the world to keep their savings in a form of money that can neither be confiscated nor diluted. If Bitcoin grows much larger, it may force governments to become a voluntary organization. Through hodling we may finally be free.