IYKYK is short for ‘if you know, you know.’ It implies that a post or message will only make sense to a select few people. The acronym can also be used ironically to mock someone sharing commonly known information. The term originated from a 2013 online post to the Bitcointalk forum, where the typo first appeared. Essentially, the goal of a hodler is to weather the various ups and downs of the market with an eye towards long-term gains. FUD is a marketing and communications term that stands for ‘fear, uncertainty, and doubt’. HODL, sometimes spelled out hodl or Hodl, started as a joke at a bitcoin fan’s expense.
Instead of “when Lambo?” you may often see “wen Lambo?” or “wen moon?” on Twitter. This is another way of ridiculing people expecting quick and easy profits. Related to this is misspelling “what” on purpose like in “wat mean?” It is another way of poking fun of people asking simplistic or “stupid” questions. Refers to a game-theoretic payout beneficial to both parties. It refers to the prisoner’s dilemma, where both parties are better off cooperating instead of defecting and receiving a (-3,-3) payout.
A private key is a string of data that can digitally prove you have access to the crypto in a specific wallet. Private keys can be thought of as a password; they must never be revealed to anyone, as they allow you to spend the bitcoins from your bitcoin wallet through a cryptographic signature. In the early days of crypto, many wealthy cryptocurrency investors purchased Lamborghinis as a status symbol to prove their success in the market. Following that, Lamborghinis became synonymous with a crypto’s success, with many people in the community using the crypto slang phrase ‘When Lambo? ’ to ask when a crypto investment will be worth enough to buy a Lamborghini. It was originally part of a viral message written on December 18, 2013 on the original bitcoin forum.
This term originated from “Flibbr,” a Bitcoin trader who used the phrase to mock President Donald Trump. When you do not go out with your friends on Saturday night, you have FOMO or the “fear of missing out”. Or, if you miss out on a hot stock in the stock market, you might have FOMO. Whether you are a seasoned investor umarkets review or a newcomer to the wonderful world of Bitcoin, you should be well acquainted with the different crypto slang and idioms related to it. With so much information available about crypto buying and selling — along with volatility, confusion, and FUD — investors need to know that wherever their crypto lands, it is secure.
For instance, if you work a regular nine-to-five, you may say “I can’t wait until Bitcoin moons and I can stop wagecucking.” “Probably nothing” and “Few” are expressions popularized by @bowtiedbull that spread to the entire web3 space. They are ironic ways of saying this is probably important or this is important but most people aren’t aware of it. Recently, a decentralized competitor to OpenSea called LooksRare made use of the meme to launch its token.
- Because of this, they try to unload many bitcoins at the same time.
- He educates business students on topics in accounting and corporate finance.
- If diamond is strong, paper is weak, and paper hands signify a person who sells at the first sign of problems.
- Both are related to the concept of “making it,” becoming financially independent or wealthy by investing in cryptocurrencies .
- NGMI stands for never/not going to make it and describes a person/company that employs the wrong tactics to succeed in the space, like not HODLing or relying on perceived old-fashioned marketing.
The rewards are generated from taxes collected on transactions made by users, such as sale, purchase, or transfer of HODL tokens. The tax amount is converted into BNB tokens and a percentage of the gains is redistributed back to users from the collective liquidity pool. Jake Frankenfield is an experienced writer on a wide range of business news topics and his work has been featured on Investopedia and The New York Times among others. He has done extensive work and research on Facebook and data collection, Apple and user experience, blockchain and fintech, and cryptocurrency and the future of money. ” is a short form of “When can we get rich from this crypto holding and live a luxurious life? The question always comes up whenever a new coin or token pops up in the market.
In the cryptocurrency trading world, this is used on chats and social media in relation to people who are very positive about the market or a specific coin and keeps holding on to their positions. If somebody says that a coin will moon very soon, a response can be, ‘You are high on hopium! “HODL” originated as a misspelling of “HOLD” , in an online post by an early Bitcoin investor.
ATH – All Time High
You may obtain access to such products and services on the Crypto.com App. People who are overly enthusiastic about a coin’s prospects are labelled as moonbois or moonboys. Ape or apeing is when someone buys a token or NFT shortly after it launches without previously conducting proper research. The crypto world is full of technical jargon, slang, and acronyms.
As a cultural term, it can mean anything from losing badly in a sport or video game to being intoxicated. In bitcoin, it generally refers to loss of funds due to trading, over-leverage, altcoin investing, or other imprudent strategy. Derogatory term for that friend of yours who won’t shut up trading your way to financial freedom about Bitcoin, Ethereum, etc. Brags about his virtual millions and how early he invested. Often found unconvincingly rambling about how Blockchain will revolutionize something that’s been working just fine for centuries. AirDrop is a free distribution of tokens to everyone for signing up.
Pokémon Go is one common example of AR, because it blends virtual information with one’s physical environment. Being immersed in the world of cryptocurrency can be intimidating for newcomers. But armed with this glossary, you’ll be ready to make sense of the phrases that you’ll no doubt come across in forums and on social media.
Many crypto investors believe that buying the dip is one of the best ways to make money in crypto. As HODL meme’d its way across the internet, it became a bitcoin battle cry, with investors vowing to never sell their bitcoin, no matter what the market conditions looked like. Bitcoin communities retrofitted the acronym HODL to mean “Hold On For Dear Life,” which colloquially describes bitcoin investors’ strategies during a bear market. It is used in the crypto ecosystem to refer to a strategy of holding onto bitcoin holdings through its various price fluctuations and volatility. The acronym is a misspelling of the word “holding” by a user on an online forum. Typically used by Bitcoin maximalists, a HODLing strategy is similar to the conventional buy-and-hold investing strategy.
Sats is short for Satoshis, the smallest unit of Bitcoin , named after the elusive creator of the coin, Satoshi Nakamoto. Just like fiat currency, cryptocurrencies can also be divided into smaller units. As such, it’s helpful to think of Sats as you would cents to a dollar. Whereas 1 dollar equals 100 cents, 1 Bitcoin equals 100 million Satoshis. Short for ‘fear of missing out’, in crypto, FOMO refers to a trader’s or investor’s fear that they may be missing out on a potentially lucrative opportunity. It was a major driving force behind the rapid rise and fall of Bitcoin’s price in 2017.
Can You HODL Stocks?
Because of this, you sell other coins you currently have to get on the bandwagon. Cryptocurrency trading is mainly driven by emotions instead of valuation. This reason is why FOMO is a significant factor in swing trading with cryptocurrency.
Since then, after having endured numerous ridicule of users, the new concept has been a staple in cryptocurrency slang. We have repeatedly heard that a particular digital asset has reached a new record. This cryptocurrency slang is used to indicate the moment when the price of a cryptocurrency has reached its highest level.
Crypto Terms You Need to Know
It is someone who does not sell but rather holds on to their Bitcoin or another cryptocurrency. Flippening means a transition of crypto dominance, that in the future there will be a moment when Bitcoin will lose leadership in the cryptocurrency market. Ethereum or Litecoin are possible more money than god: hedge funds and the making of a new elite cryptos that will take its place. “The Fear Of Missing Out” is a crypto term used to describe the intense feeling of regret that comes with not investing in an asset with rapidly rising prices. With FOMO, investors see rising prices and “FOMO-in” to not miss out on potential profits.
Such resources exist at the expense of advertisers (placement of banners, videos, etc.). Entrance to them is free, although sometimes you need to register by using your email. To get cryptocurrency, you need to go to the specific page of an advertiser. This is a fraudulent practice in which the project collects money during or after the ICO, and then its team simply evaporates. At the same time, the company promotes a lot and actively and for some time demonstrates activity. It is worth noting that often PR managers and even developers do not know that they are involved in creating a fraudulent scheme.
It is possibly the most important dogma in the cryptocurrency world. You should never trust an ICO-project team or anyone else without first verifying any statements made with your own research. A portmanteau of “hope” and “opium,” hopium describes the sometimes irrational and emotional belief that a project will succeed despite all evidence to the contrary. Crypto fans jokingly seek out hopium to numb themselves from the often harsh reality of crypto investing. A crypto term used to describe someone who doesn’t own any crypto.
Otherwise, digital assets can be copied and distributed, similar to counterfeiting. An abbreviation for ‘hold on for dear life,’ the term HODL actually derived from a misspelling of ‘hold’, which has stuck around and now means ‘keep’. As such, a crypto trader who buys a coin and does not plan on selling it in the foreseeable future is called a ‘hodler’ of the coin. While diamond hands is a trading ethos commonly identified in long-term market participants, paper hands is an ethos more apparent amongst swing traders and day traders. A whale, or a crypto whale, refers to a top player in the crypto market.