This fact is why many cryptocurrency slang terms are linked to gaming. Rekt is a term that describes when Bitcoin holders get blown out due to an immense coin collapse. For example, if a bag holder refuses to let go, he’s going to get rekt. Now that you already know what a whale is, it’s time to understand the meaning of BearWhale. A BearWhale is a giant trader who believes that prices will fall. Because of this, they try to unload many bitcoins at the same time.

When a bitcoin holder is mocked for not being rich yet, they’re being bitshamed. The case of bitcoin advocate Andreas Antonopoulos is a great example of this. An avid bitcoin lecturer for years, he revealed in December that he’s actually not a bitcoin millionaire, and sold his coins early to cover rent What is a Moving Average? and bills. He was bitshamed by Roger Ver, known in the bitcoin community as “Bitcoin Jesus,” for his failure to hodl. Among bitcoiners, however, FUD is generally used to refer to anything, like negative press coverage or blog posts, that might dissuade people from joining the cause of cryptocurrency.

Cryptocrash

” they are asking when a particular coin’s price will increase and they will profit enough to buy a Lamborghini. The fee required to complete a transaction or execute a smart contract on the Ethereum Blockchain. Short for Decentralized Finance, an open and modular financial system where you have more control than traditional financial systems. The goal of DeFi is to connect individual users to provide financial services without the need for a centralized bank. The unauthorized use of someone’s computer to mine cryptocurrency. A trader that has a negative sentiment about the market and expects it to decline.

Analogous to a bank account number, a public key is a code that other users would input to send assets directly into your wallet. Minting is a term used to describe the process of registering a digital asset on the blockchain, thereby turning it into a purchasable NFT. Once an NFT has been minted, given the nature of the blockchain it cannot be altered.

It is a financial contract, which obliges the buyer to buy a security or the seller to sell it. This has to be done on a predetermined date and price in the future. It is a trading instrument on the stock exchange and is used for various underlying instruments, including Bitcoin nowadays. Some contracts require the physical delivery of the underlying instrument and others are settled in cash. HODL is an acronym for “Hold On for Dear Life” and refers to the practice of amassing crypto and not selling it throughout the market’s ups and downs. HODL originally came from a misspelling of the word “hold” on a bitcoin forum and has become one of the most popular phrases in the crypto community.

Then, these people are forced to “dump” their other coins. What other cryptocurrencies can you name aside from Bitcoin? If you ask a Bitcoin maximalist, his answer would be it doesn’t matter! These people live by their principle that Bitcoin will be the only cryptocurrency and take over the world. Cryptocurrency slang is a collection of phrases used in the Bitcoin community that are not always based on official terms.

When you buy an NFT on an exchange, you have to connect your wallet to the exchange in order to make the transaction. Wallets can hold both coins and NFTs, and you can have multiple wallets. There are “hot wallets,” which are accessed using the internet, and “cold wallets,” which function more like a flash drive that allows you to take your assets offline.

Moon

This article/post contains references to products or services from one or more of our advertisers or partners. We may receive compensation when you click on links to those products or services. A related term, BTFD, short for “buy the dip” is an exuberant exclamation of BTD, typically used during manic bullish rallies. 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.

• And since crypto is all three of these things, it has an ever-growing language of its own.
• Used to receive and transactions on a blockchain network.
• You can trust the integrity of our balanced, independent financial advice.
• They can facilitate transactions without support from other blockchain networks.

A pleb or normie is simply a person with little or no knowledge of cryptocurrencies and an average income. Sometimes, a pleb can also be a knowledgeable crypto investor that richer investors take advantage of. Moonbois often tend to ask a project’s leadership “when Lambo. ” In other words, they are overly concerned with profiting from a substantial price increase to be available to afford a Lamborghini. Nowadays, the expression is used almost exclusively in an ironic way to mock people that are focusing only on a coin’s price.

Hodler

They are ironic ways of saying this is probably important or this is important but most people aren’t aware of it. Calling a coin a shitcoin is another way of saying it’s worthless. The term is used quite liberally, so depending on who you ask, even some of the most valuable coins may be shitcoins to them. Usually, though, shitcoins refer to cryptocurrencies without any obvious use case. HODL stands for hold on for dear life and expresses the intention to not sell under any circumstances, no matter how bad the volatility gets. Since this is such a large number, you can also say that it is one thousand billion or one million million.

It is currently implemented by, among others, the coins Firo and PivX. Read more about this in this detailed description of zerocoin. 2 Factor Authentication is a double layer security measure.

As you might guess, paper hands are the opposite of diamond hands. If diamond is strong, paper is weak, and paper hands signify a person who sells at the first sign of problems. Paper-handed decisions might be smart in the short run, but in the long run, they can sap your coins’ growth potential.

HODLing is a great thing, but if you miss the point of holding on to a particular coin, you become a bag holder. This type of person does not understand that they need to let go when Bitcoin is decreasing in value. If you wait too long, you’ll end up holding an empty bag. To emphasize the significance of this term, holding is even spelled correctly when referring to this failing investment. Many bitcoin holders may scoff at you for not relishing its potential. While it may be used for everyone who does not have a bitcoin, this term mainly targets skeptics and nonbelievers.

Keep Learning Crypto Slang While Your Assets Are Protected

To get a rekt means to sell the crypto too soon or late. In other words, to suffer losses without coping with emotions. This phenomenon is an obsessive phobia of missing an interesting event or a profitable opportunity. It originated from social media and was even added to the Oxford English Dictionary. 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.

Investing strategy in which an investor accumulates satoshis, fractions of a Bitcoin, to increase a Bitcoin position. An alternative to the proof-of-work system, in which your existing stake in a cryptocurrency is used to calculate the amount of that currency that you can mine. The higher your stake, the more likely you are to be selected as a validator and receive a block reward.

New data is filed into blocks – and blocks are subsequently chained together – in chronological order, so a blockchain becomes longer and longer as more information is added to it. Each new piece of information is also assigned a timestamp, which makes it easy for users to find ATC Brokers Forex Broker Introduction out exactly when it was linked to the database. The transparency and immutability of the blockchain makes it a very reliable and trustworthy business resource both for individuals and companies. Bitcoin is at the time of writing the most valuable cryptocurrency in the world.

It’s a consensus-based mechanism, with each validator’s role in the process being directly proportional to the size of their stake in the cryptocurrency that’s involved in the transaction. Popular exchanges include OpenSea, LooksRare, Rarible, and Nifty Gateway. In order to exist, NFTs must first be “minted” on the blockchain. Minting is like a primary sale, where you buy the art directly from the artist. When you buy an NFT on an exchange like OpenSea, that’s usually a secondary sale.

The property that describes the fact that information added to the blockchain is final; it cannot be amended. Transactions are irreversible, only an opposite transaction can be executed. Introduction to Intraday Trading and Intraday Channels DEXs facilitate cryptocurrency transactions peer-to-peer without the need for a third party. A trader who holds a lot of crypto and thinks that the market is going to fall.