For the last 5 days I've been caught up gambling away my crypto on clash casino, sad to have lost $0.50, will prolly lose $50 next time, they are all designed to rob us blind. Haha, so on another totally underrated topic, have you ever gone through a content and could literally not grasp a single word because they used stuff like this - AUD, FYP, FYI, BLL, or maybe words that sound weird?
Cool, to be clear, the acronyms above totally means nothing as I know, I just used that as an instance, but if they by mistake mean shit, oh well. That said, I figured it gets really hard to fully digest a content, any content in the Crypto-sphere at all, that if you ain't fully frank with if not all, most crypto slangs, that's the popular and frequently used acronyms or street talks. I've also been stuck a couple of times, but that's where reading up comes in handy, I have a sister who literally bugs me with questions about all the crypto acronyms, Terms and slangs, she once asked me what DeFi meant and was like, fuck sis, what the heck is Google meant for in your phone? In my shitty head I literally answered the question I asked, funny but if I was place in such spot, I'd say Google is meant for seeking good PORN SITES, shits I can pay with Dogecoin on pornhub, haha I know that's totally out of topic, I hope I was able to make you smile, even just a bit, so let's start again.
Crypto Slangs, Terms And Acronyms - Learn and fall out of Ignorance.
So, to help you digest articles based on cryptocurrency wherever and whenever, I'll pull in a few slangs and acronyms am frank with, that way you will no longer be unaware, I figured most people find it hard to dig Google for answers, well that's OK, you can always dig me on proper. So, here we go.
-Crypto Terms-
Blockchain
I figure that as a novice in the Crypto-sphere, this word "blockchain" can be confusing, so then today you will no longer have a problem with it. A Blockchain is any system that records information or data in a way that makes it difficult or impossible to change, hack, or cheat the system. In a blockchain, data cannot be manipulated and all informations are duplicated and sent across the computer system.
DeFi
DeFi simply means Descentralized Finance, this is a form of Finance that is resistive to Censorship, uncontrolled by any governmental bodies, banks or exchanges, DeFi utilizes smart contracts on blockchains, and I guess we know the king of DeFi, Hint - Ethereum :)
Blockchain Oracles
Maybe you've never heard of this, possibly have but couldn't quite grasp it's meaning or function. A blockchain oracle is like a network that connects off-chain data or information to it's blockchain, making sure that the chain has real-time and vital information, giving it a worth. Unlike off chain Oracles, sourced data cannot be manipulated. Chainlink is the latest blockchain oracle with a promising protocol token.
Fork
"From Wikipedia, the free encyclopedia. In blockchain, a fork is defined variously as: "what happens when a blockchain diverges into two potential paths forward" "a change in protocol" or a situation that "occurs when two or more blocks have the same block height" reference
Mempool
No, it doesn't stand for meme! It's like a memory pool, like a temporal storage pool, it's a cryptocurrency node's mechanism that collects and stores all unformed transactions in the block.
DAO
This is actually new to me, you know research work actually helps a lot and I urge anyone to indulge today, all the shits i know are basically through research. Dao - Decentralized Autonomous Organization, "The DAO was an organization created by developers to automate decisions and facilitate cryptocurrency transactions. In June 2016, due to programming errors and attack vectors, hackers attacked the DAO, accessing 3.6 million ETH. Digital exchange currencies de-listed the DAO token in September 2016" reference The death of a dream, nevertheless, we have a new DAO curve token created out of thin air. information about that here
-Crypto Slangs and Acronyms-
FOMO
OK, I'm pretty sure you've bumped into this slang more often recently on Leofinance, bitcoin aggressive dump in price has really been creating some interesting topics in the Crypto-sphere, well then, FOMO just means "Fear Of Missing Out" this is often used when folks let the influencial crypto topics get to them, then they have fears they might just miss some huge money if they don't follow the trend. Well, sometimes it turns out such and sometimes it doesn't, but never let the FOMO get you jumping onto ashes, be independent about your financial decisions.
Altcoin
Altcoins are alternative coins, they are cryptocurrencies founded after Bitcoin, such coins like Litecoin, dogecoin, and dash are all altcoins
FUD
This stands for "Fear, Uncertainty, Doubt" well we've had this rolling in like a wildfire as the result of Bitcoin terrible slack once again. FUD is used to trick people into thinking a certain crypto will steadily drop in price, so I guess don't let the FUD get to you!
Shill
While FUD is trying to trick you into Dumping coins, Shill tries to trick you into pumping it. When a person constantly promotes a coin like I did with BTT shitcoin, they are shilling the project, this is done for most likely their own benefits because if you buy into the project, then you'd help pump the shit up, so you all go pump BitTorrent, make it rain Cash, yes am Shilling Now :)
Shitcoin
From the word "shit" you prolly know it has no value, some actually has a tiny value, tiny! But since they show no atom of good process from such depressing figures, they are regarded as shitcoins. BitTorrent is a stable shitcoin, PUMP IT! (not a financial advice :))
Whales
This is pretty straightforward one, a whale is a person that owns five percent or more of any cryptocurrency. Which cryptocurrency are you presently Owing five percent or more? I'm a whale in IMC, a really promising project, IMC - imagination coin, haha, in my head I literally own it all :)
BTD - BTFD
I guess this is my favorite slang, BTD stands for "buy the dip" while BTFD stands for an aggressive version of BTD, which is "buy the fucking dip. A dip stands for a sudden downtrend in price, and this word is often used by investors who believe that this downtrend is temporary and there's a much promising pump later off.
HODL
Hold on for dear life.
I feel this is the most popular slang/acronym in Crypto-sphere, from my research this was just a typographical error some bitcoiner made years back, I guess.
The term originally sparked out from a post from a popular bitcoin forum, Bitcointalk. From research, a user by the name GameKyuubi posted a typo-flawed message on the forum. He went on about how people were calling him a “bad trader” for not selling during the recent price plunge, so he added that it didn’t stop him from “HODLing,” It became a slang that people no longer use HOLD but HODL, it's basically the same thing, but the Crypto-sphere is always special I guess :)
Rekt
This is basically a substitute to the word "wrecked" and it is used when a coin suffers loss and people lose a lot of the money, so they all got Rekt.
Mooning
LEO to the MOON, I suppose you've seen that a lot, whatever is heading to the moon must be lifting off the ground, so it means it's in a rising state. Mooning is used to describe crypto that are pumping in price, much oftenly when they cross a previously recorded reach.
ATH
Figured this should come right next to mooning, ATH simply means "All TIME HIGH" it's a record showing the highest reach a cryptocurrency had attained. ATH mostly flashes in when new heights are attained by cryptocurrencies
Pump and dump - Uptrend and Downtrend
Like I have previously mentioned in this post, if you didn't know what I meant by it, pump signifies a growth in price and a dump signifies a drop in price value. That means the same thing as an Uptrend and Downtrend.
Bagholder
OK, just as people held on to Litecoin while it was rather Retarding and showing no interesting or promising uplift, the act of holding on to such plummeted price crypto is called bagholding, so people that indulge in this are called bagholders, are you one?
When Lambo?
I guess we all know that Lamborghini is the most overrated sporty car, only the rich nerds own it. So when you hear people using the phrase "when lambo" they are seeking a time to anticipate getting rich. Most of the world see crypto as a 'get rich' project, and to be totally honest, it actually is, if you play your cards right.
Flippening
Well, a lot of questions have been asked if by chance any other cryptocurrency can outwork Bitcoin and become the leading crypto. If by chance that happens (which I doubt) that act is called flippening.
Sats
I originally learnt this word from Faucets, yes am a sucker for free Crypto, sat is actually a short form for Satoshis, that's exactly 0.00000001 BTC which is the smallest unit of Bitcoin.
Cryptosis
I think i'm guilty of this practice, unlike you that is scared of going to google for answers, I literally sleep in the internet, then when I wake to see I slept off and left my data running, I'll get mad, but it gets worst if my battery had gone low, geezz. Hower Cryptosis is just to learn everything possible about cryptocurrency and its orbit.
No Coiners
May all in FAVOR of HODL Bitcoin say Hi!
AND Let all against say Nay!
So what do you stand for? I guess the eyes have it, lol. No coiners are people who own not even a sat of Bitcoin, they are against the Bitcoin revolution and practically the FUD spreaders, watch out for No Coiners :)
And Last but not the least
Vaporware
I recently discovered this word and I think I'll be fond of using it. It is used to describe fictional coins, like coins that didn't get a chance to exist. Like I was Thinking Vapor of having my name as a hot pumping crypto, it's a vapor thought, might never happen but it's cool, at least I had the imagination :)
OK, you've come so far with me, but sadly but not so sad, this is where I'll find a spot for a final full stop. These are all the common terms, slangs, and acronyms I could pick up. I really hope you grasp them all and can now easily digest any content making use of any of them, that's my aim with this post. Congratulations you're now a crypto nerd, keep kinging :D
Thank You For The Attention Up Until Now
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