1/ I doubt I'm the first to say this, but: #HODL is a cartel, one which (approriately) is simultaneously pedestrian and innovative in the same ways as #cryptocurrency itself.
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Cartels, by definition, are about restricting competition and agreement among market participants to keep sale prices high, not refusing to sell altogether. Doesn’t apply to
#HODL.
Sorry, but that's totally wrong. OPEC works by agreement to limit the quantity of oil each state sells. AKA, agreeing to HODL the rest. It's exactly the same strategy as BTC owners agreeing to limit the quantity each sells (because what is HODLed is by definition not sold)
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But HODL means sell nothing. And cartels rely on state protection. It’s best understood, not as an anti-competitive movement to keep up prices, but as a long-term bet on the utility of the technology.
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In a competitive marketplace, an oil cartel would break. Competition doesn’t break HODL.
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