It's been positive to watch this subreddit grow and we are abundant with individuals new to the Cryptocurrency space. This year it feels like we have made some serious leaps in adoption.
I thought I'd share a breakdown of some of the biggest terminology and phrases that get used frequently in here. Perhaps you've been here a while and have been too embarrassed to ask as well! This one's for you!
So without further ado:
| Address | A unique string that defines a place where individuals can store, send and withdraw cryptocurrency. |
|---|---|
| Alts / Altcoins | Alt coins are any coin or token that is not specifically Bitcoin. Some include ETH as a non-alt as it is the second largest cryptocurrency. |
| ATH | All time high. Literally, the highest price point a cryptocurrency has ever reached. |
| BAGS / Bagholder | Bag holding refers to "holding" an amount of a token regardless of its performance. If someone buys in at a high price and the value crashes , they are "holding bags" not necessarily out of choice, but because they don't want to "sell at a loss" |
| Bitcoin (BTC) | Bitcoin is the first decentralised global digital currency of its kind. Often referred to as the "grandfather" cryptocurrency. It pioneered the proof of work (PoW) model and remains the market leader in this space. |
| Bearish | When something or someone is "Bearish", it means they are showing a negative market sentiment regarding the price. Fearful or negative characteristic. |
| Blockchain | A digital ledger of all transactions that have occurred on a particular network/crypto. |
| Block | A block is a permanent file on a blockchain where a record of all transactions with a timestamp are saved. |
| BTD or BTFD | "Buy the dip" or "Buy the fucking dip" is a term that gets used when the market of a cryptocurrency is in price decline and people are suggesting to pick the crypto up at a discount. |
| Bullish | When something or someone is "Bullish", it means they are showing a positive market sentiment regarding the price. Confident or hopeful characteristic. |
| Centralised | Refers to the overall ownership, custody or control of something belonging to one party or "middle man" It can refer to crypto, exchanges that own crypto or even regular systems such as banks. |
| Coin | A virtual currency that is native to its own blockchain. Coins operate independently but a token has a specific use in a project's ecosystem |
| Crypto | Short for cryptocurrency. A digital currency in which transactions are verified and records maintained by a decentralised system using cryptography, rather than by a centralised authority. |
| dApps | a dAPP is a decentralised application. Often referred to as a "practical application" of a blockchain. |
| Decentralised | Controlled by no single authority, nor is it backed by any centralised government or nation-state. A fairer and arguably safer system as it takes control and spreads it over multiple parties. |
| DeFi | Decentralised Finance is a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilises smart contracts on blockchains. |
| DCA | "Dollar cost averaging" is an investment strategy where a buyer does not inject a lump sum of capital, but instead buys regularly over a predefined period of time. The principle is that , so long as the value of the crypto is increasing, DCA'ing will catch both the up and downtrends of market activity, thereby reducing exposure to risk. |
| DYOR | "Do your own research" - advice often given to advise that you should only buy into cryptocurrencies after having done analysis and research and make sure you understand in the overall goals and strategy of the project. |
| FIAT | FIAT is government-issued currency that has been authorised as legal tender - For example USD or GBP. |
| FOMO | Stands for "Fear of Missing out". FOMO is when a token or coin surges in price and people buy into it with little research or analysis because they fear that they will "miss the boat" |
| Fork | Refers to when a blockchain splits off into two different networks which have their own distinct governing principles. A "soft fork" is when a cryptocurrency only operates off the new fork and the old chain is retired. |
| GAS | Gas is used to pay transaction feeds in order to execute a smart contract. The busier the network at that point in time, the larger the gas fee. |
| FUD | "Fear, Uncertainty, Doubt" refers to any news or opinion that is damaging to the price of a cryptocurrency. It might be negative media coverage, legislation or a feeling of 'lack of development' in the project. |
| HODL | Taken from a historical mis-spelling, and reposted ever since - HODL means "HOLD". Users often post this to clarify that they are not selling their cryptocurrency at its current value and neither should you. |
| ICO | βInitial Coin Offeringβ, is where a new cryptocurrency offers the ability to purchase the coin at a discounted rate to early seed investors. This is usually done to raise capital to fund the future of the project. |
| Leverage | Leverage Trading is an exchange tool that allows traders to make spot transactions with the help of borrowed capital from brokers. Usually, these funds exceed the account balance of the investors. Small changes in value can result in larger gains or fast liquidation. Often shunned in this subreddit due to the high risk caused by volatility of cryptocurrency. |
| Mining | Mining is the process by which new coins are minted on a blockchain. For example, In a proof of work system (BTC) , this is achieved by delegating computational power in order to solve algorithms and "mine" blocks that yield BTC rewards. |
| Moon / Mooning | Refers to when a project skyrockets in value very quickly. So called "mooning" because the chart shoots up "to the moon" |
| Moons | The official cryptocurrency of this subreddit. Distributed once a month all users who have posted or commented in here. The more karma earned, the higher the distribution amount. |
| NFA | "Not financial advice" is a term used to signify that the user does not want to hold any responsibility for how you spend your money, irregardless if they have just posted a speculation or line of advice. Often complimented with "DYOR" |
| NFT | "Non fungible token" is a unique digital asset that represents individual ownership of artwork, music , videos , tickets and more. These are not a form of digital currency, but they can be exchanged for coins or tokens. |
| Pump and Dump | When a coin or token is artificially 'pumped' up to a high price and then it is 'dumped' or sold on to unwitting individuals who 'FOMO' in due to the high price and end up bag holding at the high price point(see above) |
| REKT | "Wrecked" refers to when a trader makes a loss with investment and greatly devalues a significant chunk of their investment. Often goes hand in hand with Leverage mistakes (see above) |
| Rugpull or 'Rugged' | When the developers of a coin or token abandon it after stealing investors money. |
| Shitcoin | A coin or project that people will often refer to in distaste, either because it has very little prospects or technology or it has a toxic community whose only purpose is to increase the price and return value for themselves. |
| Stablecoin | A coin that is pegged 1:1 with a Fiat currency. For example USDT or USDC. They are often used as a 'middle' trading point for cryptocurrency to hold value in as they have common trading pairs with the most popular cryptocurrencies. |
| Token | A distributable token within a coin's blockchain. Tokens represent an asset or utility. |
| Wallet | A place or object that stores public or private keys to access cryptocurrencies. They can be physical or digital formats. |
| Whale | Used to refer to an individual who is holding a large amount of a cryptocurrency or token , well above the average of other holders. So described due to the 'size' of a whale in real life. |
| YEET | To 'jump' blindly into investment of a cryptocurrency with no real thought or analysis. Sometimes used in conjunction with leverage. |
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