Important Jargon in Bitcoin / Cryptocurrencies / Ethereum / Ripple etc. Must Know Cryptocurrency Terms
Very Important Cryptocurrency Terms
Number 1: TO THE MOON
This means that, considering the current growth, it will reach the moon soon.
Generally speaking, “reaching the moon” is used by speculators to denote a cryptocurrency that’s soaring fantastically to all-time highs.
2 important same family terms:
Someone asking: “When moon ?”
or a variant of this is:
also found like this:
this last 2 terms are commonly used to let people know you’re into this thing called cryptocurrency
Number 2: HODL
Example of what it means:
Do you get the picture ? :)
From where it came. ->
From the look of the post, he was drunk and wanted to convey the fact that he was holding his BTC despite the serious fall that had just happened.
Since then, this misspelled term became very popular in the Bitcoin and cryptocurrency world. Whenever a person says in a conversation that he/she is hodling or suggests to hodl, it means that they believe their coin will be profitable one day, if not today.
Number 3: FOMO
Fear of missing out.
If you didn’t buy Bitcoin on the dip at $4.5k because it was too expensive, and you didn’t buy at $8.5k because it was too expensive, does it really make sense to buy at $12k after the run up we’ve seen in the past two weeks?!
you might want to buy Bitcoin at any price and put the idea that a given price is too expensive or you sold too soon aside, but you should not make those choices emotionally based on a Fear of Missing Out (FOMO).
Number 4: BEAR / BULL
This is a term borrowed from the Wall Street people. This means a trader/investor who believes the prices of a particular cryptocurrency or market will fall and wants to profit from that fall.
What is a Bull Market?
Bull markets are defined by the market going up aggressively over a period of time. As the market starts to rise, there becomes more and more greed in the stock market. You see more and more people thinking, “Oh yeah let’s put money into the market because it’s going up.”
What is a Bear Market?
The bear market definition is exactly the opposite of a bull market. It’s a market where quarter after quarter the market is moving down about 20 percent. That signals a bear market, and when that happens people start to get really scared about putting money into the stock market. That’s because they don’t know how to invest Rule #1 style.
thanks to https://www.ruleoneinvesting.com/blog/stock-market-basics/whats-the-difference-between-a-bull-and-bear-market/ for the explanations & drawing
Number 5: WHALE
This is a term borrowed from gambling people. It means a trader with a fat account, usually one who is bullish (one who thinks the market will rise) on the price of any specific cryptocurrency. These people are also referred to as bullish whales.
Number 6: BAGHODLER
The expression “left holding the bag” originated in eighteenth century Britain and spread throughout the English-speaking world. In this context, a person left holding the bag is stuck with the stolen goods, taking the blame from the police while the rest of a criminal gang escapes.
This is an investor or a trader who has been holding (or hodling — you get the joke ? check number 1 if not) for too long on a particular cryptocurrency and now has to face the consequences of that decision.
Number 7: ADDY
Public address or key
Number 8: FUD
Fear, uncertainty, and doubt. This term usually refers to investors who are unsure of the potential of a situation.
Number 9: Fork
A fork is the permanent divergence of an alternative operating version of the current blockchain. Forks come into existence when a 51% attack occurs, a bug in the program, or more commonly a new set of consensus rules come into existence. These happen when a development team creates and inserts notably substantial changes into the system.
Number 10: FIAT
Government-issued currency, such as the US dollar, EURO etc.
The total value held in a crypto-currency. It is calculated by multiplying the total supply of coins by the current price of an individual unit.
Pump And Dump
The recurring cycle of an altcoin getting a ton of attention, leading to a fast price increase, and then of course followed by a huge crash.
A two way smart contract is an unalterable agreement stored on the blockchain that has specific logic operations akin to a real world contract. Once signed, it can never be altered.
Ethereum allows developers to program their own smart contracts, or ‘autonomous agents’, as the ethereum white paper calls them. The language is ‘Turing-complete’, meaning it supports a broader set of computational instructions.
Smart contracts can:
- Function as ‘multi-signature’ accounts, so that funds are spent only when a required percentage of people agree
- Manage agreements between users, say, if one buys insurance from the other
- Provide utility to other contracts (similar to how a software library works)
- Store information about an application, such as domain registration information or membership records.
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