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.
HODLers restrict competition among sellers of Bitcoin, by agreeing to reduce the quantity sold by the group. This shift of the supply curve left makes market clearing quantity go down and price go up. It's econ 101.
