People who are overly enthusiastic about a coin’s prospects are labelled as moonbois or moonboys. Ape or apeing is when someone buys a token or NFT shortly after it launches without previously conducting proper research.
Block Lattice (Nano)
Don’t let the FUDsters get to you; stay focused on your strategy, and don’t let fear cloud your judgment. Bitcoin Maximalists are passionate believers of Bitcoin and think it is the only one that counts. This group believes that it should be the most widely used digital money globally. They view Bitcoin as the currency of the future, one that will one day take the place of ordinary fiat currencies.
Stale Block
Crypto slang is like its own language for talking about digital money and transactions. If you’re new to crypto, you’ll hear a lot of acronyms and catchphrases. This article explains some of the most common ones in simple terms. Think of it as crypto terms for beginners, words you should know so you don’t feel lost in the crypto market. For example, many beginners ask things like “FOMO meaning in crypto? ” or “LFG full form” when they see these terms related to blockchain networks on Twitter or forums.
Paper hands or Weak hands, on the other hand, are traders who quickly sell their holdings when prices start to go down. FOMO is probably the most dangerous emotion in cryptocurrency trading. It’s the reason people buy high and sell low, which is literally the opposite of what you want to do. Smart traders learn to recognize their FOMO and take a step back before making any major moves. The term flippening was conceived in 2017 to describe a potential flip in the largest cryptocurrency. However, the Fuder can also work, with the same momentum, to drive up the prices of the same assets so that they can make profits.
A public key is a series of letters and numbers used to encrypt plaintext into ciphertext; one of the most well-known uses is as a crypto wallet address. Proof of Importance (PoI) is a consensus mechanism that uses ‘importance scores’ to determine which nodes are eligible to mine new blocks. This helps to ensure that the network runs smoothly and all participants are contributing to its success. A type of consensus mechanism, Proof of History (PoH) nodes use their own internal clocks to encode a passage of time onto the blockchain ledger. A hybrid of the Proof of Work (PoW) and Proof of Stake (PoS) consensus mechanisms, Proof of Activity (PoA) ensures all transactions on a network are legitimate and all miners reach a consensus. The ORC-20 token standard is an open framework to enhance BRC-20 tokens on the Bitcoin network.
Short for ‘fear of missing out’, in crypto, FOMO refers to a trader’s or investor’s fear that they may be missing out on a potentially lucrative opportunity. It was a major driving force behind the rapid rise and fall of Bitcoin’s price in 2017. For ETH to overtake Bitcoin, currently, it will have to multiply by 15. In addition, Bitcoin is expected to experience a massive increase that will surge its prices. Sometimes why this kind of scam is hard to recognize because they seem genuine and run operations like well-meaning platforms. However, the sinister agenda is to gather as many funds as possible.
DeFi Degens
While some of the top cryptocurrency exchanges are, indeed, based in the United States (i.e. KuCoin or Kraken), there are other very well-known industry leaders that are located all over the world. For Crypto slang example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.
- People who are overly enthusiastic about a coin’s prospects are labelled as moonbois or moonboys.
- The condition of the market indicates which slang has become popular and is widely used.
- DCA stands for Dollar Cost Averaging and describes a trading strategy whereby you invest equal amounts of money at regular intervals regardless of the price.
- The “flippening” refers to when Ethereum, the second most popular coin, might flip the top-ranking Bitcoin and become the biggest cryptocurrency by market cap.
In this way, it functions as a motivational slogan, encouraging people to maintain hope in difficult times. Whether you’re referring to stocks or life in general, remember that GMI meaning in crypto is that you believe in a bright future. It’s a simple phrase, but it’s one that brings people together from all corners of the globe. In the crypto world, saying “GM” breaks cultural boundaries and builds a sense of community through a mutually-understood greeting.
Crypto Slang Term #22: Token
Buying the dip is hard to time, and you’re often better off dollar-cost-averaging into a new crypto position. We know you’re busy, so we cut out a lot of the fluff in this glossary with key crypto terminology and we’ll link directly to resources where you can go deep into a topic to crack the code. A shill is someone who promotes a coin and tries to drive its price up. Someone who is shilling for a coin—sometimes called pumping—might be an investor or could be getting paid to promote the coin, which is why shilling has a negative connotation.
Another popular meme is “HODL,” which originated from a typo in a Bitcoin forum post. The term quickly became a meme within the crypto community and is now used to encourage holding onto a cryptocurrency despite market fluctuations. Crypto slang serves as a barometer for market trends and sentiments. By understanding these terms, investors and enthusiasts can gain insights into the current state of the cryptocurrency market and the attitudes of its participants. PVP means “Player Vs Player,” and PPP means “Player Pump Player.” These terms describe different crypto community mindsets.
- In crypto culture, having paper hands is definitely not a compliment.
- A cryptocurrency bear market describes when the market experiences a decline of at least 20% from recent highs.
- When a cryptocurrency is rising, FOMO can lead consumers to make rash investing decisions.
- Miners on a blockchain earn rewards (crypto) for completing complicated mathematical puzzles to submit a block to the blockchain.
- Traders shout LFG to hype themselves or the community when something good happens.
Replicated Security (RS)
“SAFU” is typically used by businesses to promise investors that their money will be secure. Depending on the situation, “SAFU” may also refer to a financial fund established by Binance. When the prices of securities are going up or are projected to go up, this is called a bull market. When someone says “the market is bearish,” they think coin prices will go down, which shows they are not optimistic about how the market will go. Pump-and-dump is when the price of an asset is artificially raised by spreading false information about it. Buying a lot of assets at a low price all at the same time by a lot of people will raise the price and demand of the asset.
The history of crypto slang is intertwined with the history of cryptocurrency itself. When Bitcoin, the first cryptocurrency, was introduced by an anonymous entity known as Satoshi Nakamoto in 2009, it was a novel concept that few people understood. As more tech enthusiasts started exploring this new digital asset, they began to use specific terms to describe their experiences and the phenomena they observed in the market.
Utility Mining
In the early days, many who made easy money in crypto purchased lambos to show off their newly acquired wealth. ” to ask when an investment will finally pay off or be worth enough to buy a lambo. A fren is short for “friend” and can be someone you get along with online or in real life. Frens are typically represented by the popular Pepe meme, which is a way of identifying with crypto and web3 space. Exit liquidity refers to clueless investors seeking fast and easy gains in dubious crypto projects and can be used either sympathetically or derogatorily. DAO stands for a decentralized autonomous organization, an emerging legal structure that uses blockchain technology to automate decision-making and management.
