Crypto is all in.
And if you don’t know what it is all about, you are missing out. So, here’s a little something to get you started. Here are some commonly used slang in the crypto-verse.
- HODL:
No that is not a typo. This word slipped into crypto investors’ vocabulary after a user at a Bitcoin talk forum in 2013, made a typo in the word hold, writing the word HODL. People then misinterpreted as standing for “Hold on to dear life”.
Not too far from the meaning, as it generally means to hold onto your crypto assets when prices drop instead of panicking and selling.
HODLER: An investor who holds on to their crypto assets instead of transacting when prices go down.
- Sats
Sats is the abbreviation to Satoshis; the smallest unit of Bitcoin- 0.00000001 BTC. alternatively, 1 Bitcoin is equivalent to 100,000,000 satoshis. The term is derived from the name of Satoshi Nakamoto, the pseudonymous developer/s of Bitcoin. It is one of the biggest mysteries in the digital world. Nobody even knows if Nakamoto is a person or a group of people. Although there have been several suspects, Nakamoto’s true identity has not been revealed or verified even after over a decade of Bitcoin’s lifetime.
Read our blog (Who is Satoshi Nakamoto- a conspiracy)
- FOMO
The good old “fear of missing out”. FOMO happens across all parts of life. You stay home because you have work/school the next day while you’re friends are out partying.
In our case, FOMO is the psychological state in which an investor feels panic and envy for not being active in a crypto market move from which others are benefiting. As happens a lot, when there is a sharp rise in market price or a new cryptocurrency is announced, everyone jumps to invest. In this case, investors debate whether or not to join the trend as crypto volatile and nothing lasts forever.
- ATH or ATL
A very easy one. All-time high and all-time low respectively refer to situations when the market price of a crypto asset is the highest it has ever been and the lowest it has ever been.
- To the moon or mooning
“To the moon” means that the market price of a cryptocurrency is soaring high, has reached its peak, so high that it could touch the moon. Or a coin is “mooning” when it sees a sharp price increase in a short period of time. The term became popular after Bitcoin gained traction and its value reached $20,000 in 2017. Talk about now. We should update the term to “To the whatever-the-farthest-heavenly-body-is”.
Also if you see someone posting the rocket emoji in context of crypto, it means the same thing. Mooning.
- DYOR
DYOR about crypto. Do your own research. Wouldn’t it be funny if the only thing in this blog was “DYOR”? Well, we decided to play nice.
- FUD
FUD stands for “fear, uncertainty, and doubt.” It is a common disinformation strategy meant to confuse competitors. It is meant to inspire negative sentiment about a particular crypto asset to prevent further buying or selling.
- Pump and Dump
Pump and Dump don’t just apply to cryptocurrency, it is seen in regular stock market too. It is a tactic used by big investors to take money from innocent investors by encouraging them to buy a specific crypto coin, and then manipulating it. Investors will hype or influence the price of an asset; pumping. Then they sell their holding before the price falls again; dumping. Pump and dump is considered market manipulation.
- Rekt
Rekt is a comical and intentional misspelling of “wrecked.” It is a slag term in crypto when a trader loses a substantial amount of money.
- Whale
In crypto, a whale is an entity that holds a large number of coins in a particular cryptocurrency. For instance, a company that owns 50,000 Bitcoins is considered a whale. There is no “official” threshold to be considered a whale, though. A whale has enough coins or tokens to case a significant impact on the market prices, since any transaction from them will attract mass attention and hence manipulate the market prices.
- Exit scam
An exit scam is when creators of a crypto asset generate hype for their project, and when enough investors have put in their money, the creators steal that money and disappear. Rug pull is a more popular term. Learn more here (link).
- Cryptosis
Cryptosis is obsessiveness towards cryptocurrencies and the market. Investors watch the price fall day and night, hungry for every bit of new information about cryptocurrency.
- Bagholder
A bagholder is someone who holds onto large amounts of a specific coin despite how it performs in the market. They are either unaware of the price drop or want to wait until the prices increase again. But it never does. So, they end up with assets worth nothing; hence bagholders.
- Shilling
Shilling is an act of illicit advertising; painting exaggerated narratives to promote a crypto coin or service, particularly of low quality, for a financial incentive. A shill is someone who does this. For example, an influencer might be paid to promote a cryptocurrency or service. As a result, its demand increases and the value is spiked. Shilling is often used as a tactic for pumping and dumping too.
- Flippening
Flippening refers to the hypothetical moment of Ethereum (ETH) overtaking Bitcoin (BTC) as the biggest cryptocurrency. Both are market leaders. Some say that the “flippening” is inevitable. We’ll have to wait and see.
- No-coiner
A no-coiner is to crypto what a muggle is to wizards. It is someone who doesn’t understand, support, or invest in crypto. They have no holding, no coins, no tokens; “no-coiner.”
- Lambo
Lambo means Lamborghini, the expensive sports car, bought commonly by rich people. Essentially, Lambo in crypto is when someone gets rich by trading crypto. Or “When Lambo?” is a way of asking when a certain asset will take off in prices so that investors can become rich.
- Apeing
Apeing is when someone buys a crypto token/coin immediately after the project is launched without conducting any background research. Such investors are usually driven by FOMO on profit that comes with being an early investor. Since this is a dumb or “low IQ” way to work in crypto, the name apeing came about.
- BTD/BTFD
BTD stands for “buy the dip” and is a common term in financial markets. BTD or BTFD (Buy the Fu***ng Dip” means to buy an asset when the market has dipped and the prices are low in order to potentially profit in the future.
- Bitcoin Maximalist
Finally, a Bitcoin maximalist is someone who believes that Bitcoin is the only real and necessary cryptocurrency in the world, and all other cryptocurrencies are inferior.
Now you are a certified know-it-all in the crypto-verse. Although, this knowledge is only enough to seem smart in social media. For actual investment, DYOR or read our blogs on different crypto concepts to learn more.
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