Cryptocurrency was one of the biggest highlight of the last year. What does this year have in store for cryptocurrencies? No one knows. But there have been various slangs that have emerged in the crypto space over the past year and the many years before that. In this post, I will talk about the top 20 slangs in the crypto space which you probably did not know about. So let’s get started with it.
HODL
This one is the oldest in the list, perhaps as old as time itself(time of cryptocurrency). HODL is a slang for HOLD. Legend has it that an early investor in Bitcoin mis-spelt HOLD as HODL in the a community forum and since then crypto space has been using the term heavily.
Example-“Just hold on to your Bitcoins! There are going up in value over the long term!”
FOMO
FOMO refers to Fear of Missing Out. This term is not specific to crypto itself, but investing in general. When people feel that the value of an asset is going to go a lot higher, they fear that they might miss the rally and therefore not make monetary gains. This usually happens when the price of an asset goes a lot higher very quickly which creates a hysteria among people to get into the asset. This asset can be anything and does not have to be a cryptocurrency.
Example– “The Bitcoin rally is caused by FOMO, not anything else”
Diamond Hands
Diamond hand refers to a person/ institution that do NOT sell their assets(or crypto) in a bear market.
Example– “Michael Saylor did not sell his Bitcoin holdings even in the bear market, he has Diamond Hands”
Paper Hands
Paper hands can be considered as the exact opposite of Diamond Hands. It refers to a person/ institution that do sell their assets(or crypto) in a bear market.
Example– “Paper Hands caused the bear market to go even more downwards”
Whale
A Whale refers to anyone who holds more than 5% of the total cryptocurrency. Though, it is sometimes used to refer to anyone who own large amounts of a Cryptocurrency.
Example– “Michael Saylor is a Bitcoin Whale and has 17,732 bitcoins”
No Coiner
A person who does not own or hold(or HODL, if you will) any cryptocurrency.
Example– “Don’t listen to a No Coiner’s advice on Twitter”
Mooning
Mooning or the phrase “to the moon” refers to a substantial rise in the value/price of a cryptocurrency.
Example– “Bitcoin to the moon”
Rekt
Rekt is slang for Wrecked. The use of this slang is not limited just to cryptocurrency but in all forms of trading. This is used to refer when a trader makes a huge loss on a particular trade.
Example– “Buyers of Shitcoins got rekt”
FUD
FUD refers and is an acronym for Fear, Uncertainty, and Doubt. FUD is not a slang only in the crypto space but refers to the entire investing space. FUD in cryptocurrency refers to speaking of a cryptocurrency in a very negative light which can lead to a change in the public sentiment of the cryptocurrency.
Example– “All the big banks are creating FUD about Bitcoin crashing”
Pump and Dump
Pump and Dump refers to pumping up(increasing) the value of a cryptocurrency and then dumping(selling) it when the price rallies. It is considered as a form of price manipulation. This is usually done by people who have an enormous following and use it to manipulate the price of a cryptocurrency.
Example– Consider a person with enormous following on twitter, and they tweet something positive about a cryptocurrency they own. This will lead to an increase in the price of the cryptocurrency because their followers will get positively influenced and will feel the same about it. This is considered the pump in pump and dump. Later, when the price of the crypto currency is high enough, they sell their cryptocurrency at an increased price, thus making enormous gains.
Sat
Sat refers to a Satoshi- the smallest unit of account on the Bitcoin network. A Satoshi is a 100 millionth part of a Bitcoin.
Example– You can buy a cup of coffee for 1 million satoshi(say).
Happy #Sat urday!
— Michael Saylor⚡️ (@saylor) January 15, 2022
Bag Holder
Bagholder or Bag Holder is a term that is used in crypto space as well as outside it. Bag Holder refers to a person who did not sell their assets or cryptocurrency when it was at a high and now the price of it has dropped significantly.
Example– “Those who did not sell Bitcoin when it was at an all time high might be the biggest bag holders in the history, now that it is crashing”
When Lambo?
When Lambo? is a phrase used to refer to or ask the question about when the price of a cryptocurrency is going to shoot up.
Example– When you but a cryptocurrency, and you ask When Lambo? what you mean is when is the price of the cryptocurrency going to shoot up so you can sell it and but a Lamborghini.
Alt Coins
Alt coins refers to an alternative cryptocurrency other than Bitcoin. In general, cryptocurrencies that came after Bitcoin are collectively referred to as Alt Coins.
Example– Ethereum, Litecoin, etc.
Memecoins
Memecoin refers to a cryptocurrency that originated from a meme.
Example– Dogecoin, Shiba coin, etc.
Shitcoins
Shitcoin refers to a cryptocurrency that does not have a well defined use case and/ or value. These coins are just for speculation or to make money through ICO(Initial Coin Offering) or pump and dump schemes.
Example– CumRocket, BabyDoge Coin, etc.
Bitcoin Maximalist/ Bitcoin Maxi
Bitcoin Maximalist or Bitcoin Maxi or sometimes just Maxi is a person who believes that Bitcoin is the ultimate currency that exists. They consider Bitcoin better than Fiat currency, Precious metals such as Gold and Silver, and even other cryptocurrencies such as Ethereum, Ripple, Dogecoin, etc.
Example– “Only Bitcoin Maxis believe that Bitcoin is going to the moon”
Stable Coins
Stable coins refers to the cryptocurrencies that are pegged to and backed by a fiat currency(such as the US Dollar), or a physical commodity(such as Gold).
Example– Tether is considered as a stable coin, but its dollar backing is highly questionable.
Gas
Gas is the transaction fees that is charged to the person completing the transaction. It usually refers to the transaction fees on the Ethereum network but can refer to any network.
Example– Ethereum has high gas fees.
Moon Boys
People who believe that a crypto currency is going to the moon, or going to increase significantly in value.
Example– “When the crypto crashes, all these moon boys are going to disappear”
The moon boys and maxis ain’t ready for what’s coming…
— Mr. Whale (@CryptoWhale) January 7, 2022
Things are just getting started.
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