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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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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