HODL, Whale, Moon + 6 Other Cryptocurrency Slang For Beginners To Help You Sound Like a Pro
No matter all up-&-downs in prices, cryptocurrency is still a hype. Every day more and more people decide to try out their luck and invest in the digital currency for fun or to become rich.
Nexter.org knows that lots of slang and jargon experts use to talk about cryptos, so we decided to make an easy guide that will help you to sound like a pro using crypto terms.
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1. HODL
In early bitcoin forums, someone posted a message that spelled the word “hold” wrong, and readers interpreted it as an acronym “hold on for dear life,” Saddington explains. “Now, it’s become a meme of sorts, so that when the prices are highly volatile, bitcoin buyers say ‘HODL!'” Saddington describes himself as “a long-term HODLER.”
2. FUD
“Fear, uncertainty and doubt,” shortened to “FUD,” isn’t a term exclusive to the bitcoin community. 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.
3. Sats
“Sats” is short for “satoshis,” a term derived from the first name of bitcoin’s mysterious creator, Satoshi Nakamoto. It refers to the smallest fraction of a bitcoin that can be sent, which is 0.00000001 of a bitcoin. Instead of looking at bitcoin in terms of a dollar value, “real traders look at sats, or satoshis,” says Saddington.
4. Whale
A whale, or a crypto whale, refers to a top player in the crypto market. These people hold a substantial amount of coins, accounting for a small fraction of cryptocurrency users. When a whale buys or sells, their influence is so strong that they may move the market.
5. Pump and dump
“Pump and dumpers are people who often say, ‘Hey, let’s all of us together pump this coin,’ which means buy the coin, create the demand in the market, the coin will go up in value,” Saddington says. Then, everyone “dumps” the coin and sells.
These schemes are often orchestrated through apps like Slack or Telegram, he adds, and advises curious chatroom readers to beware of such gimmicks. An investigation into “pump and dump” schemes by Business Insider found the practice to be an “open secret among many cryptocurrency traders.”
6. Bitshaming
7. To the Moon
“To the Moon” is an exclamation used when cryptocurrency prices are rising off the charts. By the same token, when a coin’s price is “mooning,” that means that the price has hit a peak. You might ask the grammatically-incorrect question “when moon?” if you wanted to know the opportune time to sell your cryptocurrency, before prices go back down.
8. When Lambo
Many Bitcoiners are all about making money quickly. “When Lambo” translates to “when will you buy a Lamborghini?” Which is to say, when will you get ridiculously rich off of bitcoin?
9. Hyperbitcoinization
Hyperbitcoinization is the word used by some bitcoiners to describe their ideal outcome: When regular currencies are devalued, and replaced by bitcoin and other cryptocurrencies.
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