Cryptocurrency is a rapidly growing industry, and as with any industry, it has its own set of jargon and slang. Here are some of the top slang words used in the crypto world and what they mean:
- Bitcoin Maximalist: A Bitcoin Maximalist is a person who believes that Bitcoin is the superior cryptocurrency and that other cryptocurrencies are not necessary or valuable. They believe in the long-term potential of Bitcoin and advocate for its adoption and use over other cryptocurrencies. This can be extended to the belief that Bitcoin will become the only cryptocurrency and will replace all the other existing ones. They tend to be very bullish on Bitcoin and may have a strong emotional attachment to the coin.
- HODL: This is probably the most well-known slang term in the crypto world. It stands for “hold on for dear life” and is used to describe someone who is holding onto their cryptocurrency for the long term, regardless of market fluctuations.
- FOMO: FOMO stands for “fear of missing out” and is used to describe the feeling of missing out on a potential investment opportunity. In the crypto world, it often refers to the fear of missing out on a significant price increase in a particular coin or token.
- FUD: FUD stands for “fear, uncertainty, and doubt” and is used to describe negative or misleading information that is spread to influence the market in a certain way. In the crypto world, it often refers to negative news or rumors that are spread to drive down the price of a particular coin or token.
- Whale: A whale is a term used to describe a large investor who holds a significant amount of a particular coin or token. These investors have the ability to significantly influence the market with their buying and selling decisions.
- Pump and dump: This term refers to a scheme in which a group of investors artificially inflate the price of a coin or token by buying it in large quantities, and then quickly selling it at a higher price, thereby “dumping” it on unsuspecting investors.
- Moon: The term “moon” is used to describe a coin or token that is experiencing a significant price increase. It is often used in the context of a coin that is expected to experience a large price increase in the future.
- Bear market: A bear market is a term used to describe a market that is experiencing a downward trend. In the crypto world, it refers to a market where the prices of coins and tokens are generally decreasing.
- Bull market: A bull market is the opposite of a bear market, it is a term used to describe a market that is experiencing an upward trend. In the crypto world, it refers to a market where the prices of coins and tokens are generally increasing.
- Altcoin: An altcoin is any cryptocurrency other than Bitcoin. The term is short for “alternative coin” and is used to describe any digital currency that is not Bitcoin.
- ATH: ATH stands for “all-time high” and is used to describe the highest price that a particular coin or token has ever reached.
- Satoshi: A satoshi is the smallest unit of Bitcoin, equal to 0.00000001 BTC. It is named after Satoshi Nakamoto, the pseudonym used by the person or group who created Bitcoin.
- Gas: Gas is a term used to describe the fee required to execute a transaction on the Ethereum blockchain. It is paid in Ether, the native token of the Ethereum network.
- Crypto Twitter: Crypto Twitter is a term used to describe the community of crypto enthusiasts, investors, and experts who use Twitter to share information, news, and opinions about the cryptocurrency market.
- Stablecoin: A stablecoin is a type of cryptocurrency that is pegged to the value of a fiat currency or commodity, such as the U.S. dollar or gold. The value of a stablecoin is designed to remain relatively stable, unlike other cryptocurrencies that can be highly volatile.
- Cryptojacking: Cryptojacking is a type of cyber attack in which a hacker uses someone else’s computer or device to mine for cryptocurrency without the owner’s knowledge or consent. This is typically done by injecting malware into a website or device, which then uses the computing power of the infected device to mine for cryptocurrency. The hacker then profits from the mined coins, while the victim’s device may slow down or become damaged due to the added strain. Cryptojacking is becoming a growing concern as it can be done on a large scale, using thousands of infected devices to mine for cryptocurrency, and it can be hard to detect as it may not disrupt the normal functionality of the device.
- Diamond Hands / Paper Hands:”Diamond Hands” and “Paper Hands” are terms used to describe the attitude and behavior of investors in the cryptocurrency market.Diamond Hands” investors are those who are committed to holding onto their investments for the long term, regardless of market fluctuations. These investors have a strong belief in their investment and are not easily swayed by market volatility or short-term price dips.On the other hand, “Paper Hands” investors are those who are easily scared by market volatility and tend to sell their investments at the first sign of a price dip. These investors are seen as having weaker commitment to their investments and are more likely to panic and sell their holdings during market downturns.
The terms are often used in a pejorative sense with Diamond Hands seen as a positive trait and Paper Hands seen as a negative one.
- No-Coiner: A No-coiner is a person who does not own or invest in any cryptocurrency. This term is often used to refer to people who are skeptical of or uninterested in the cryptocurrency market. They may view cryptocurrencies as a speculative bubble or a risky investment and choose not to participate. No-coiners may be seen as the opposite of “HODLers” (people who hold onto their cryptocurrency for the long term) and “whales” (large investors who hold a significant amount of a particular coin or token). No-coiners may also be referred as people who are not familiar with the technology or the concept of cryptocurrency.
- Rug/Rull Pull: “Rug pull” or “rug” is a term used in the cryptocurrency market to describe a scam in which a project’s development team or an individual developer abandons the project and takes the funds raised during the initial coin offering (ICO) or through liquidity mining with them. This type of scam is often referred as “rug pulling” because it is as if the development team has pulled the rug out from under investors. The scammer will usually create hype around a project to attract investors, and then once they’ve raised a significant amount of money, they will disappear and take the funds with them. This can be particularly detrimental to investors who are heavily invested in the project, as they may lose all of their invested funds. It’s important for investors to do their own research and due diligence before investing in any crypto project and be aware of red flags such as an anonymous team, no working product, or unclear roadmap.
- Shill: “Shill” is a term used in the cryptocurrency market to describe someone who promotes a particular coin, token, or project dishonestly or deceptively. A shill is typically paid or otherwise incentivized to create positive buzz around a particular coin or project, often by posing as a neutral or unbiased individual. They may make exaggerated or false claims about a project’s potential in order to entice others to invest. Shilling can be done through various platforms such as social media, forums, chat groups, and even through paid promotions. This type of promotion is often considered unethical and manipulative, as it can mislead investors and lead them to make bad investment decisions.
By understanding these slang words, you will be better equipped to navigate the crypto world and understand the conversations and discussions happening within the community. It’s important to note that slang terms and jargon can evolve over time and may have different connotations depending on the context in which they are used. Keeping an eye out for new terms and staying up to date on their meanings can help you stay ahead of the curve and make more informed investment decisions. Additionally, as with any investment, it’s important to conduct your own research and not make any decisions based solely on slang or jargon used in the community.
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however, no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the cryptocurrency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal, or accounting advice.