Crypto has been a rollercoaster for the last few years, but one thing that never changes is how much money can be made if you hold onto your crypto. It’s time to stop chasing the hot coin of the week – diamond hands are forever!
What does “Diamond hands” mean?
Someone has”Diamond hands” if they keep an asset even if there is a lot of market turbulence. The principal goal of someone with diamond hands is holding a position until you accomplish your investment goals. “Diamond hands” originated from the subreddit r/WallStreetBets, the forum that led to the GameStop panic early this year.The expression has been popular in the cryptocurrency trading space for a long time and got known to the public when GameStop exploded.
Where does the term “diamond hands” come from?
Diamond hands was slang used on the r/WallStreetBets subreddit. The term gained popularity in 2019, but it was only in 2021 when the term gained wider attention, because the forum was part of an arena concerning investments in what became known as meme stocks (such as the GameStop stock). In May 2021 Elon Musk tweeted about diamond hands.
What’s the difference between “paper hands” and “diamond hands”?
“Diamond hands” is a term that refers to someone who keeps his crypto positions even if there is a lot of FUD (fear, uncertainty, doubt), they have a high-risk tolerance, having the patience and fortitude needed when making long-term investments.
It’s important not to confuse “paper hands” with “diamond hands”. Paper hand traders often buy cryptos and sell them shortly after they have made their profits. This means that crypto is constantly traded in a short time frame.
Memes took over worldwide with the explosion of social trading. This was most evident in the GameStop saga when subscribers of r/wallstreetbets agreed to not sell their GameStop shares in order to fight Wall Street. After this, the lingo of this obscure subreddit penetrated beyond the forum to change the conversation around investments. The crypto community embraced this lingo fully and can now be found within both communities.
Is there more to diamond hands?
Diamonds as a metaphor represents the strength of investors holding on to their volatile crypto assets. On the other hand, a more negative definition could refer to it as the stubborn attitude of investors not letting go of an asset when they should really sell it. However, historically, you will often win if you hold your assets long term.
FAQ about diamond hands
They call me diamond hands, what do they mean by that?
Diamond hands refers to someone with patience and fortitude when making long-term investments. Having Diamond Hands is a valuable skill.
What does 💎🙌 mean?
💎🙌 refers to diamond hands. To express the term diamond hands with emojis is popular in the social crypto trading space.
What does 🧻🤲 mean?
🧻🤲 refers to paper hands. To express the term paper hands with emojis is popular in the social crypto trading space.