Cryptocurrency is all the buzz and with everyone getting attention, comes the new slang. The jargon used for inside jokes in early trading chat rooms on Discord and Reddit threads is now the key word in the crypto craze. You can see crypto enthusiasts on Twitter saying something like, “Just ‘HODL’ your bitcoin long term, a classic case of ‘pump and dump’, dogecoin’s actually ‘mooning’, etc.”
Novice investors or even veterans may find it difficult to understand the meaning of these slangs, so we decided to compile a list of popular slangs used in the cryptocurrency world to help those who are may be unknown.
The term ‘HODL’ refers to holding a cryptocurrency even after a fall in its value. In 2013 after a user in the Bitcoin Talk forum made a typo in the word HOLD, the jargon slipped into the vocabulary of crypto investors, panic writing the word HODL.
Some even interpret the acronym as: “Hold on for dear life”, the idea being to hold positions rather than panic selling cryptocurrencies when volatility rises.
Interestingly, the term was used the most after the cryptocurrency market fell by 37 percent on May 19. drop was triggered by China’s failed attempt On mining and trading of crypto assets.
FUD is an acronym that expands to “fear, uncertainty and doubt”. It is a ploy to spread negativity about a crypto coin and its future, in order to spread doubt, fear and uncertainty in the minds of crypto investors, which may cause the price of a certain coin, or the entire cryptocurrency space, to fall.
People who spread FUD are called ‘faders’. Experts advise to be wary of unfair funds, as this can lead to selloff and reduce the value of the coin, affecting investors.
to the moon/moon
“To the Moon” means that the price of the cryptocurrency has reached its peak value and is rising above the charts. Similarly, a coin may also be described as ‘moonshine’ – when it has increased by more than 100 percent within a short period. The phrase became popular after the peak of 2017, when Bitcoin Gained traction and its value reached $20,000.
Initially, the phrase was used to refer to bitcoin’s ability to increase in value, however, now the phrase is used for any cryptocurrency with the potential to increase in value.
Crypto whales are entities that hold a large number of coins of a particular cryptocurrency. There is no “official” limit for what is considered a whale, but when it comes to bitcoin, 1,000 coins is the most commonly used figure.
a whale Can also be defined as a person who has enough coins or tokens to have a significant impact on market prices by buying or selling a large quantity. The ‘whale’ placed huge buy orders at higher prices in the market, which increased the price of the coin. Any activity by whales will potentially attract attention, and manipulate the price of the crypto market.
pump and dump
‘Pump and dump’ is a strategy used by large investors to extort money from innocent investors by encouraging them to buy a specific crypto coin and then manipulating it.
A pump occurs when a group of investors, such as whales, hold a substantial percentage of a coin’s available supply at a low price point. They facilitate the promotion of a majority based on false statements, which creates demand within the market, and drives up the price, this is called pumping.
After pumping out the initial investments, these investors Sell all your property Made huge profits, but there was a huge drop in the price of the coin.
‘Sat’ means ‘satoshi’, a word derived from the first name of Satoshi Nakamoto, a pseudonymous person or person who developed bitcoin. Satoshi refers to the smallest fraction of a bitcoin that can be sent, which is 0.00000001 of bitcoins. 1 bitcoin is equal to 100,000,000 satoshis.
‘Bagholder’ refers to someone who continues to hold a large amount of a specific coin regardless of its performance. For ‘Bagholders’, the price of the crypto coin does not matter. These investors are either unaware of a drop in the value of their trade, or are waiting to sell at a higher price. However, they become the ultimate holders of a failed investment, and hence become the ‘bag holders’.
Simply put, if an investor stubbornly wants to hold the coins of his position, even though he may sense a downside, but decides not to sell his position, he will be called a ‘bagholder’.
Shilling means promoting any crypto coin through implied advertising. Schilling attempts to spread the buzz about One Coin in public forums by personally endorsing the product – under the pretext of unpaid publicity, while in fact he is being paid for his services.
Usually a shill (shilling) attracts attention to the coin, resulting in increased demand and increases in value.
An investor who has a low risk tolerance, and exits the trade at the first sign of risk, is said to have ‘paper hands’. Be it a price drop, or just a gut feeling, they won’t hesitate to sell and exit. They are easily shaken by market volatility.
Cryptosis or OCD (Obsessive Crypto Disorder)
Someone who wants to absorb every bit of information about cryptocurrency. According to The Merkle, Obsessive Cryptocurrency Disorder, or OCD, is a condition developed by investors and they become obsessive about it. “They watch the bitcoin price rise and fall day and night.”
Disclaimer: Cryptocurrency is an unregulated space and digital currencies are not backed by any sovereign authority. Investing in cryptocurrency comes with market risks. This article does not claim to provide any kind of financial advice for trading or buying cryptocurrency.