Most people who are involved with Bitcoin or other cryptocurrencies are focused on one thing, gains. The majority of the people in the space are speculative investors who are guessing on the future value of digital assets. The term “HODL” rose out of internet culture and was based on the idea of holding through the ups and downs until cryptocurrencies hit the mainstream.
However, more recently another term has been gaining popularity amongst cryptocurrency aficionados and experts. “BUIDL” is a play off of build, and blockchain leaders are urging the community to push adoption by building the future right now.
Blockchain big shots like Vitalik Buterin and Justin Sun have been encouraging their social media followers and the crypto community as a whole to work on the infrastructure needed to make the technology accessible to everyone. But Binance’s CEO and founder, Changpeng Zhao might be the official torch-carrier of the “BUIDL” movement.
“When markets do go back up that doesn’t mean all projects will. A lot of coins with no development will die. Review your holdings. Make sure teams are working,” CZ said on Twitter. “I think for our industry to grow we need more entrepreneurs to build real projects.”
Binance is definitely out in front in regards to supporting the development of blockchain and cryptocurrencies across the entire industry. But there are other lesser known who are quietly putting the work in that will ultimately make cryptocurrency a widely used tool.
Cryptocurrency expert Erik Voorhees just echoed this exact sentiment on Twitter
“If everyone just “bought Bitcoin” and didn’t try building an industry full of services and infrastructure, Bitcoin would die. Most projects will fail and that’s fine. Buidling > hodling (though both are valuable and important)”
It is of the utmost importance to have talented developers migrate to the blockchain industry so that ideas can be bounced around and followed to fruition. But still, only a minuscule percentage “HODLERS” or investors will ever participate in the actual development. So the leaders who are encouraging the crypto world’s construction will have to remain active recruiters as well as builders.