27 Slangs/Idioms/Abbreviations In Crypto & Metaverse You Must Know
Jumping to the crypto market or Metaverse community and starting conversations with other like-minded people to gain more valuable information require us to understand their words, and even inside jokes. This post will debunk all necessary slangs, idioms, and abbreviations in the crypto market and Metaverse community for you!
1. Virtual twins
A virtual world has been duplicated to increase familiarity and efficiency, physical environments, or a metaverse virtual object that represents a real-life thing, being, or structure.
2. Snow Crash
This 1992 sci-fi novel by Neal Stephenson is where the phrase “metaverse” first appeared. He described it as a virtual reality-based internet progression. Snow Crash depicts a metaverse in which individuals interact as avatars in a three-dimensional virtual world.
3. Virtual Teleportation
A new type of technologically assisted travel or cooperation that uses multi-sensory and lifelike renderings to make you feel as if you’re in the same room with someone halfway around the (physical) world.
4. Digital Holograms
A holographic replication is a lifelike representation of a person, location, or object in virtual space. This object is usually 3D and can be observed from all sides, allowing an avatar to walk around it and interact with it in the metaverse.
5. Vaporware
Vaporware refers to a software project, including cryptocurrencies, that is never completed. It’s frequently advertised and pushed to the point where everyone knows about it, but it’s never finished. “Vaporware” is a glamorous, cool concept or idea that will almost certainly never materialize or come to reality. It can also refer to hypothetical cryptocurrency with no obvious application.
6. FUD
FUD stands for “fear, uncertainty, and doubt.” FUD, as it’s known in crypto circles, is a psychological technique for instilling negative emotion about a certain asset in order to discourage further purchases or even to encourage selling or short-selling.
The goal is to depress the price of an asset so that the FUDer can either acquire it at a lower price or inflict financial anguish on others who may be holding the token for a competing crypto project.
7. Whale
A whale is a crypto entity that holds a large holding in a certain coin. A Bitcoin whale, for example, may be a corporation with 50,000 bitcoins that can affect markets with a single trade.
8. Pump and Dump
The term “pump and dump” is not limited to cryptocurrency; it also applies to stocks. In regulated securities, it is called market manipulation and is banned. A pump-and-dump situation occurs when investors hype or inflate the price of an item, such as a cryptocurrency, before selling their holdings and before the price collapses. They inflate it, then dump it before it plummets.
9. Rekt
Rekt, a deliberate misspelling of “wrecked,” is a crypto slang term for an investor’s portfolio or investment being easily vanquished. It’s trending on social media to warn of overly leveraged holdings being liquidated, resulting in significant financial losses.
10. When Lambo?
Lamborghinis — yes, the pricey sports vehicles — got associated with crypto culture at some point. Mostly because those who made a lot of money with cryptocurrency were able to purchase them. As a result, the phrase “when Lambo?” has become associated with the success of a cryptocurrency. It effectively asks when the asset in issue will appreciate to the point where its owner may purchase a Lambo.
11. Graphics Processing Units (GPUs)
A graphics processing unit (GPU) is a type of computer that is dedicated to the creative production of graphics and video rendering. It enables programmers to generate appealing visual effects and realistic settings in order to speed up the rendering of 3D images, making it a crucial component in making the Metaverse a reality.
12. Spatial Audio
Spatial audio is a surround sound effect that offers the impression of three-dimensional sound. This allows a user in a virtual world to detect where sound is coming from in their 360º environment. This sound is also distance-based, which means that the closer a user gets to the sound, the louder it becomes, and vice versa, the further they walk away from the sound source, the less they hear it.
13. No Coiner
A “no-coiner” is someone who is skeptical of crypto and does not feel it has a practical application. As a result, they have no assets, crypto tokens, or coins. They’re considered a “no-coiner.”
14. WAGMI/NGMI
WAGMI stands for “We’re All Gonna Make It.” It’s frequently used in the crypto community to provide hope and inspire people not to give up. The acronym NGMI stands for “not gonna make it.” It expresses the belief that you made a poor decision and that your investment will fail.
Both phrases are utilized in the crypto realm, but they are more popular in the NFT space — specifically, Twitter and Discord groups.
15. Cryptosis
When someone gets the crypto bug and can’t stop talking about it, it’s called “cryptosis.” The affected is always reading, writing, discussing, and otherwise consuming material about cryptography.
16. BTD/BTFD
BTD stands for “buy the dip” and is a term used in the financial markets to describe entering a long position during a suspected momentary drop in the price of an asset. It is most typically employed in bull markets to boost bullish mood and rising prices, but it may also be used in bad markets to buy at a solid historical value for a longer-term investment horizon.
Short for “Buy the F****** Dip,” BTFD is an exuberant exclamation of BTD that is commonly employed during frantic bullish rallies.
17. KYC
Since being implemented by regulatory authorities in 2017, KYC, or “know your customer,” has become a kind of identity verification required by several crypto exchanges.
Broker-dealers (exchanges) must make a good-faith effort to gather personal information and create a record for each account with each individual customer, according to SEC Rule 17a-3(17). Consumers’ transaction histories are documented for tax purposes, and KYC guarantees that customers are relatively suited for their trades or investments. Because the two guidelines are so closely related, KYC-AML (Anti-Money Laundering) is frequently hyphenated.
18. To the Moon/ Mooning
“To the moon” denotes that a cryptocurrency’s price has hit its pinnacle and is rapidly increasing. A coin can also be described as ‘mooning’ when it has increased by more than 100% in a short period of time. After Bitcoin gained traction and its value topped $20,000 in 2017, the phrase became widespread.
19. Paper Hands
‘Paper hands’ refers to an investor who has a low-risk tolerance and exits a trade at the first hint of trouble. They will not hesitate to sell and get out if the price drops or if they have a gut hunch. Market volatility might easily shake them.
20. Bullish/bearish
These two terms represent the market patterns. Although they were first used in traditional stock markets, they have since made their way into the cryptocurrency world. A bullish market will have upward price patterns, whilst a bearish market would have downward price trends.
21. Open Platforms vs Closed Platforms
Open Platforms allow users to adapt, change, and modify some software features to meet their specific needs. Permissionless open software allows producers to freely generate content. This also allows third-party developers to add functionality to the platform.
A Closed Platform or Walled Garden, on the other hand, is software that does not allow you to integrate with other products. Advanced security, high functionality, and extended platform provider support are all advantages of closed platforms.
22. FOMO
FOMO shorts for “fear of missing out.” When a sharp bullish breakout happens in cryptocurrency, nervous investors debate whether or not to purchase into an already high-priced market in the hopes of riding out the rest of the advance. FOMO may affect any financial market, but it’s more common in crypto markets, where the majority of participants are inexperienced retail investors trying to negotiate extremely volatile price action while attempting to establish a well-balanced crypto portfolio.
23. HODL
HODL stands for “hold on for dear life.” HODL is a popular cryptocurrency meme that is a misspelling of the word “hold” (which some people mistook to mean “hold on for dear life”). HODL is a term used by investors to advise other investors to HODL during price rallies when prices are volatile.
24. Shill
Shilling is the act of promoting a service or investment, especially one of low quality, through propaganda or misleading or exaggerated narratives in exchange for a cash incentive. Shillings have a bad connotation and are commonly utilized in pump-and-dump tactics, but they can also be used in other situations.
25. Sats
Satoshis, or “sats,” are the smallest unit of Bitcoin — exactly 0.00000001 BTC. One satoshi is equal to 100 millionth of a Bitcoin and is named after the credited creator of Bitcoin, a developer named Satoshi Nakamoto.
“Stacking sats,” a related popular term, refers to an investing method in which an investor accumulates satoshis, or fractions of a Bitcoin, in order to increase a Bitcoin holding.
26. Flippening
The hypothetical — and some argue inevitable — the moment when the value of Ethereum surpasses that of Bitcoin is referred to as “flippening.”
27. Bagholder
You never want to be caught holding the bag, but in the crypto world, that’s exactly what a “bagholder” is. A bagholder is someone who purchased into a position at a high price and then saw their holdings collapse in value.
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