Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
My first contact with the crypto community was by the Telegram groups. First times, I was feeling like an alien.. Understanding a sentence was like solving another language. âLETâS HODL!â, âIâM GOING LONGâ, âWHEN LAMBO?â what were they telling? The memes, the gifs, graphs, I was like in another planet. Then one by one, searching and seeking it took me a short time to speak the same language with the community. And the community became something really valuable to me, it is one of the most important aspect that I love about crypto. The community is so energetic, eager to learn, eager to help, fun.. the memes, the gifs, the collectiveness.
Ohh.. It was a pretty long introduction, let me kick off the list. I hope youâll enjoy your time with the crypto community. Hereâs the must-know, intro level phrases to speak the crypto language ELI5!
- ELI5: Not especially a crypto word, but itâs better to know it. âExplain like Iâm 5â.
- hodl: âholdâ the origin of the word, you will see this a LOT. crypto is a volatile market and try to avoid the panic sell and just hodl.
- FOMO: âFear of Missing Outâ the emotion you feel when you see a huge green candle, the emotion you feel when you see +%120 coins in the market.
- FUD: âFear, Uncertainty and Doubtâ the emotion you feel when you see a huge red candle goin down, the emotion you feel when you see -%30 coins in the market. The feeling that you wanna sell really bad.
- Moon: A great rise in price, to the moon!
ex: a guy with fomo trying to chase a pump when he sees that the coin is going to the moon
- Pump: Rapid upward movement of the price with a big volume. (Most of the time a play from whales or an institution)
- Dump: Rapid downward movement of the price with a big volume. (Most of the time a play from whales or an institution)
- Whale: someone with lots of coins
- Fish: someone with small amount of coins
- Pump&Dump (P&D) : whales/groups moving the markets up and down
a random example of pump and dump in a low-cap coin in cryptopia
- ATH: âAll Time Highâ
- BT(F)D: âBuy the (Fuckinâ) Dipâ
- DYOR: âDo Your Own Researchâ Donât be a sheep!
- FA: âFundamental Analysisâ, itâs simply the news, events and project.
- TA: âTechnical Analysisâ itâs simply the chart/data analysis .
- MCAP: âMarket capitalizationâ = price Ă circulating supply (Quite different in crypto than the stocks.)
- lowcap/midcap/highcap coins: coins with low/mid/high market caps according to your scale.
coinmarketcap.comâââone of the most useful websites in crypto to monitor the price and mcap
- FIAT: Government money (USD, EUR, etc.)
- Exchange: The platform where you trade cryptocurrency
- Altcoin: âAlternative coinâ, everything except btc right now.
- Rekt: When someone lost a lot of money from a trade.
- Bag: Portfolio.
- Bagholder: You buy a coin/token, itâs price decreases. Then, you donât wanna sell and now you are a bagholder.
- Bullish: Expection of upward movement, the greens.
- Bearish: Expection of downward movement, the reds.
- Long: A buy position for selling cheaper.
- Short: A sell position for buying lower.
- Margin Trading: Simply, trading with a borrowed money, you lend money from the exchanges and create long or short positio contracts with the lended money, thatâs a margin trade.
- Limit Order: âA stop-limit order is an order to place a regular buy or sell order (also known as a âlimit orderâ) when the highest bid or lowest ask reaches a specified price, known as the âstop.â (from poloniex.com)
- ICO: âInitial Coin Offeringâ, like an IPO, fund raise.
- Shilling: Promoting.
- Mining: like mining gold, instead of swinging your axe, your computer solves some problems.
- lambo: the car that we buy when we have a succesful trade, the ultimate goal in the crypto community.
- Faucet: they give free satoshis.
- sats/satoshi: 1 Satoshi=0.00000001 BTC.
- Satoshi: Father of Bitcoin.
- Vitalik: The guy who decided to found etc while playing WOW.
- Arbitrage: Enjoying the price difference between exchanges.
- Panic Sell: Selling in a panic when you see a red candle.
- Weak Hands: People sells with a panic in FUD, the first group of sellers.
- Price Wall: a limit order accumulation at a specific price.
- Fork: A divergence / an update on blockchain. (may be irreversible, a hardforkâââmay be reversible, soft fork)
- Shitcoin: A shitty coin.
- Whitepaper: A document which describes the project.
Thanks for reading, I hope it was helpful. Iâll be updating this post and adding new words.
And finally, you can follow me on Twitter -> @cryptorocket_
crypto 101 | The Glossary was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.