However, there are times when holding on to a losing investment might be a wise move. When a group of investors holds a large portion of a coin’s available supply at a low price, this is known as a pump and dump. They promote hype based on false information for the most part, which increases demand in the market and drives the price up . This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described.
As bitcoin holders panicked, Fudders started to buy bitcoin at the bottom price of $18K. Soon enough, bitcoin rose from $20K to $27K within a few days. “A whale is someone who owns a lot of cryptocurrency,” Saddington says.
Yield farmers typically lend their cryptocurrency to projects or protocols in exchange for interest payments. Tether is the largest stablecoin by market capitalisation and is one of the most popular cryptocurrencies. Other popular stablecoins include Paxos Standard and USDC. “Double spend” is a term used to describe when someone tries to spend the same cryptocurrency coin twice. This can happen if someone has two different wallets and tries to send the same coin to both wallets at the same time. FUD is a term used to describe when negative news or sentiment surrounding a particular cryptocurrency causes the price to go down.
Unlike centralized exchanges, decentralized exchanges aren’t governed by a central authority, have no intermediary, and trading is done in a non-custodial way. A Bitcoin maximalist is a person who believes that Bitcoin is superior to all other cryptocurrencies and that it’s the only currency worth having. Moon and mooning refer to when crypto’s price is rapidly increasing, or skyrocketing. An investor might want to know when their coins are going “to the moon.” Investors may want to know when their coins’ prices will hit a new all-time high .
You know how you’re “over the moon” when something exciting happens? When a cryptocurrency gets excited (i.e., rapidly increases in price), it’s going “to the moon” or “mooning.” You can also ask “When moon? ” if you’re wondering when your crypto will suddenly balloon in value.
People from the crypto sphere use it to spread hope and optimism to the community. An ape is a person who purchases an NFT or a token right after its release without researching it first. You don’t want to get wrecked—or rekt—as that would mean you’ve lost a lot of money. See if your address, email and more are exposed on people finder sites. A related term, BTFD, short for “buy the dip” is an exuberant exclamation of BTD, typically used during manic bullish rallies. Named after Bitcoin’s anonymous creator that used the pseudonym Satoshi Nakamoto.
Short for “Bitcoin Maximalists”, this is a term that Vitalik Buterin is credited for creating. It is meant to refer to those that believe that the Bitcoin is only blockchain and cryptocurrency that matters. Additionally they may believe that everything that is done in the crypto space should only be interactive brokers reputation done to further the advancement of Bitcoin. HOLDing, or simply holding, is a process enthusiasts take a lot of pride in. When one believes in a project’s mission or underlying value hard enough, they can allow themselves to refrain from selling their tokens no matter what happens in the market.
- Literally means “profile picture,” but in the NFT world, also means a project that often doesn’t have utility beyond use as an avatar on social media.
- GM is short for good morning and really is only that – a way of spreading positivity and wishing others a good day.
- In early bitcoin forums, someone posted a message that spelled the word “hold” wrong, and readers interpreted it as an acronym “hold on for dear life,” Saddington explains.
- Like any other application on your phone, dapps come with a user interface and are designed to provide some kind of practical utility.
- However, if you value your privacy above safety, then decentralized exchanges are exactly what you need.
Anyone can send a transaction to that address, but only the address’ true owner can access these funds or messages. Weak hands describe someone who sells their cryptocurrency at the first sign of falling prices. Those with weak hands usually lack conviction in their strategies and are easily spooked by negative news or price action of an asset. Shilling is when someone with a vested interest promotes a particular cryptocurrency in order to create excitement and entice potential investors to buy. Individuals who are paid to promote a certain coin or token may also be considered shillers.
The price of Bitcoin in 2013 was volatile at the time, surging to over $950 at the beginning of December, 2013, up from just over $130 in April of the same year. Whale refers to someone who owns a large amount of cryptocurrency. Alluding to the size and power of a whale, trade99 review a crypto whale owns hundreds of thousands in crypto value and has the power to influence the price such that selling might result in a price dip. OpenSea is the world’s largest marketplace for users to upload, buy or trade non-fungible tokens using cryptocurrencies.
FUD stands for Fear, Uncertainty, Doubt, and is used in situations where either a project or financial outcome possibility results in negative sentiment and actions. FUD is fundamentally a feeling which can result in unfortunate trading decisions. Meme stocks describe the shares of companies that have gained a cult-like following on social media, which can influence share prices. The poster encouraged people not to sell and that they were “hodling” .
With all the attention, jargon that was once just used for inside jokes in early cryptocurrency chat rooms and on Reddit threads has now become a part of the dialogue. SAFU is actually Binance’s initiative that protects people’s funds and is short for Secure Asset Fund for Users. In 2018, Binance’s CEO tweeted “funds are safe” and the YouTuber Bizonnaci made a funny video based on it, but changing it to “funds are safu”, and it stuck. For example, when someone makes a bad decision or doesn’t understand basic crypto concepts. People also use it to make fun of people with negative opinions regarding crypto. GOAT stands for “greatest of all time” and it’s one of the best compliments you can give someone in crypto and other communities.
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Jake Wengroff writes about technology and financial services. A former technology reporter for CBS Radio, he covers such topics as security, mobility, e-commerce and the Internet of Things. Investing strategy in which an investor accumulates satoshis, fractions of a Bitcoin, to increase a Bitcoin position. The objective is to suppress an asset’s price so the FUDer or group of FUDers can purchase that asset at a significantly lower price. Of course, the FUDers can then turn around, drive the price up, and sell in order to make a profit. A programmable contract that can be executed on certain blockchains, such as Ethereum.
There is also a negative definition of “Diamond Hands”, which refers to a stubborn investor who is not willing to let go of an asset despite its falling value. AMA is an abbreviation for “ask me anything”, it is used by people who are opening themselves up for a session where the community can ask any kind of question. Many NFT projects hold live AMA sections regularly to keep up the engagement with their NFT holders. ADA refers to the native cryptocurrency of the Cardano blockchain platform, which was launched in 2017 by Charles Hoskinson, who was the co-founder of the Ethereum network.
Historically, the plebeians fought with patricians for more rights and greater political influence in society. FUD refers to negative stories or commentary intended to promote fear and anxiety about the future of bitcoin. FUD is often spread by naysayers, altcoin supporters, or individuals wishing to acquire bitcoin less expensively. Short for “we all gonna make it”, similar to GMI, it’s to describe the future state when our investments have amazing returns.
It reflects the all-in mentality that some investors hold. A bag is when someone has a lot of a specific cryptocurrency. A bag holder is someone who continues holding on to that large quantity as the value of the crypto drops toward $0. A “no-coiner” is someone who does not hold any crypto assets. A no-coiner is typically a crypto pessimist who believes that Bitcoin and other digital currencies are fraught with risk and volatility. Refers to people that panic sell instead of continuing to hodl as the value of a coin or the whole crypto market goes down.
Rug pull is pretty much the same as a pump and dump scam. Pump and dump is a type of crypto scam where the perpetrators use misleading tactics to raise the price of a currency or an asset. Unlike diamond hands, the paper hands emoji refers to someone who panic sells as soon as they sense any potential trouble. Not your keys, not your coins is a popular expression and it refers to the belief that one must own their wallet keys to truly own their crypto.
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Flippening means a transition of crypto dominance, that in the future there will be a moment when Bitcoin will lose leadership in the cryptocurrency market. Ethereum or Litecoin are possible cryptos that will take its place. Proof of Work, or PoW, is another system for establishing consensus and building new blocks in the blockchain. A PoW mechanism requires each participant in a cryptographic process to submit proof that they have expended a certain amount of contributory computational effort. MetaMask is a software built for the Ethereum blockchain that functions as a crypto wallet. Not to be confused with the car brand, fiat money is a term used to refer to any kind of currency that has been declared legal tender by a government body.
In early bitcoin forums, someone posted a message that spelled the word “hold” wrong, and readers interpreted it as an acronym “hold on for dear life,” Saddington explains. “Now, it’s become a meme of sorts, so that when the prices are highly volatile, bitcoin buyers say ‘HODL!'” Saddington describes himself as “a long-term HODLER.” FOMO stands Java Mobile Applications for “fear of missing out.” Not limited to the world of crypto, FOMO applies to all aspects of life, including job hunting and even dating. Jeremy Cogan We’ve seen the rapid popularity increase of blockchains and cryptocurrencies. A private key is a string of data that can digitally prove you have access to the crypto in a specific wallet.