Do you want to HODL me?
Every movement has its own unique lingo. The arrival and eventual popularization of social media created its very own parallel language. We learned to LOL when we read or saw something funny. If it was even funnier, we even ROFL’ed. TBH, we are all different IRL, but WTF, we all love some TLC when it comes to having fun on social. So getting on fleek, you’ll be pardoned for not understanding a word of what we just said, but then you’d have to be living under a rock these past few years.
Oftentimes, social slang describes its underlying philosophy — of being hip and non-conformist, traits associated with the young and impatient generation. A look at crypto slang often gives you a similar feeling. This is because crypto is non-conformist and rebellious at its core. It’s like a big, fat middle finger to traditional financial markets. Its democratic and open-access nature goes against the very grain of conventional finance and disruption is in its genes.
Lets take a look at some popular crypto slang terms that investors and traders use in everyday crypto trading.
1. HODL — Probably the most important term that defines the craze of crypto. The humorous acronym means “hold on for dear life” and is a clever twist of the common investing term HOLD. A hodler, thus, means a person who has invested in a particular coin and doesn’t foresee selling it in the near future. The term originated in a December 2013 post on a popular Bitcoin forum by an apparently inebriated participant who announced “I AM HODLING!” who probably wanted to say that he was “holding” on to his Bitcoins. The term soon became a rallying cry to hold on to Bitcoins (or any other crypto coin for that matter) and not capitulate in the face of price plunges.
2. FOMO — This means “fear of missing out.” This happens when most new investors and traders see a green line and since they don’t own that coin, sell other coins to buy this one in the fear that if they don’t, they’ll miss out on a big opportunity. FOMO is an important aspect in understanding that crypto is still driven by human emotions than anything else.
3. FUD — Fear, uncertainty and doubt. “John’s spreading FUD again on xcoin!”
4. ATH — All-time high.
5. Whale — A big player with a ton of money to invest in the crypto markets.
6. Pump and Dump — The recurring, and almost painful, cycle of spikes and crashes.
7. Shill — An unsolicited endorsing of a coin on public forums.
8. BTFD — Buy the fucking dip! When people are selling like crazy when the price is don, its time to buy!
9. To the moon! — Extremely bullish movement of a coin.
10. Sats — Short for “Satoshis,” after Satoshi Nakamoto, the mysterious inventor of the Bitcoin. It refers to the smallest fraction of the Bitcoin that can be sent — 0.00000001 part of one Bitcoin. “How many sats are you buying at this price?”
11. Bagholder — The poor, unfortunate soul who is left behind “holding the bag,” meaning they are left with a coin they wanted to sell at a higher price, but because the market moved so fast are left with the coin at a price they cannot sell at.
12. Lambo — Short for a Lamborghini, a fast car that has become a crypto icon of sorts, after crypto trader Peter Saddington bought one after selling a few of his earlier bought Bitcoins that had cost him a mere $115.
Clever messages are also getting popular on t-shirts often worn by crypto enthusiasts and proponents of the crypto movement. Some messages that you are bound to come across are –
· Honestly, just here for the Lambos J — A clever way to say that I am here to make a fortune!
· Keep calm and HODL Ethereum — A sane advice to not budge and just hold on to your coins
· I accept Bitcoin — A true crypto enthusiast
· Mined over Matter — Go mine some crypto coins!
· In Crypto We Trust — Another crypto enthusiast
· I am Satoshi Nakamoto — Well, what do we say here?
· I survived the great crypto crash of 15 minutes ago — Refers to extreme market fluctuations often seen in the crypto markets.
So, don’t spread FUD, don’t shill and BTFD.
In the meantime, let me HODL!
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