Are you new to the cryptocurrency market? You’ve probably found yourself in a situation where the whole community talked about halvings, altoes, FUDs, FOMOs at least once – and you didn’t know what they all mean? Did you feel like shouting WTF then? Welcome to the world of crypto slang!
We’ll fly all the way to the moon! (… but first a correction)
If you’ve ever come across users who used the terms frequently: to the moon, why moon, where moon, what moon, or even the moon itself – know that they have evenly under the ceiling. Okay, but what are all these people all about, and how does the moon relate to cryptocurrencies?
Well, it can be said that this is simply a metaphor. Cryptocurrency enthusiasts say this when they hope for a very big increase in the rate. It should be added here that a slightly different meaning is assigned to the expression when moon – most often it is the definition of the ideal time to sell a given cryptocurrency when its price increases.
Next to it there is also the abbreviation TTM – which is not an extension of the phrase to the moon, but Trading Til Moneyless – that is, keep trading until you are penniless (of course, don’t do that).
Just HODL it!
The word HODL has been used in cryptocurrency slang since 2013. There is a funny story behind it. One user of a popular bitcoin forum once made a typo in the word hold, writing: I AM HODLING. The mistake quickly hit the viral, and Bitcoin users still use this phrase to express that they are long-term owners of Bitcoin. They call themselves hodlers.
HODL is also presented as Hold On for Dear Life – which means holding something with all your might. Thus, this expression is intended to discourage the sale of a given cryptocurrency, even when its price is falling. So keep calm and HODL!
By the way, it is worth mentioning obagholders – these are the holders of cryptocurrencies on the bottom. They don’t sell them because they expect a rebound in the future (but when will it be…). This return is also used in the traditional market as a trader of worthless stocks.
When is Lambo?
This question is asked when someone wants to find out when the price of a cryptocurrency will increase enough to allow its owner to afford one of the more expensive cars – Lamborghini.
Alt / alty / altcoins and shitcoins and scamcoins
All cryptocurrencies except Bitcoin are called altcoins or alts. In short, you can say alt. The person who has them is called an altcoiner.
Shitcoins are the nickname of worthless cryptocurrencies that bring nothing of value to the market, they are often weak projects and are a copy of already existing coins. Their owner is a shitcoiner.
Scamcoins are pseudo-cryptocurrencies belonging to the financial pyramids and exit scams. OneCoin can serve as an example here. Their owners are referred to as scamcoiners.
Noncoiners should also be mentioned here – people who do not have any cryptocurrencies.
Someone is sowing FUD again
It is a description of the way in which the sender of the message spreads rumors, slander or adds fuel to the fire, misleading other market users and causing confusion. Most often it does it to lead to a decrease in the price of a given cryptocurrency. Of course, some people may sow FUD unconsciously without knowing that what they pass on is not true.
FUDster, on the other hand, is a person who spreads false information about cryptocurrency projects (whether knowingly or not).
Come into FOMO
It is the fear of missing out on opportunities. FOMO has two faces: it can be the fear of not making a purchase when the price of a cryptocurrency is soaring, or the fear of not selling an asset in time when its price drops sharply.
An investor falling into FOMO does not think rationally, makes decisions guided by the emotions that govern him. They are often driven by the FUD.
The price of this cryptocurrency hit ATH
It is an abbreviation of All Time High, it is used when the price of an asset breaks its all-time high.
Fiat is losing to Bitcoin
… And we don’t mean the car brand here. In this way, it is referred to as a fiat (traditional) currency – e.g. the American dollar or the Polish zloty.
Rekt on the chart and more
This is how a bad investment decision is determined in the event that the user has sold his cryptocurrencies and their price has soared to the moon. The word dect comes from wrecked. Interestingly, this phrase is popular not only in charts but also in online games. Then it means that someone is simply destroyed.
This is where altcoin would overtake Bitcoin in terms of market capitalization. There has not been such a situation yet (and it does not look like it). (probably will never happen)
Whale, big fish, big player
These are investors who keep a large amount of some cryptocurrencies in their wallets. Possessing a significant part of a given coin, they can manipulate its market, e.g. by selling off their assets.
Pump and Dump
So pump and throw. This is a situation in which investors or companies specifically initiate increases (buy a large amount of assets) in order for other market players to start doing the same. When the price rises, they proceed to a dump (sale).
When you are OCD …
Cryptocurrency obsessed person. It is short for Obsessive Cryptocurrency Disorder. This is how users who check the cryptocurrency rate multiple times a day are identified. It is the first thing they do when they wake up and the last thing when they go to sleep.
In this way, it is talked about a situation where the owner of BTC is mocked for not becoming rich yet.
A cyclical event, it is included in the mechanism of some cryptocurrencies, e.g. Bitcoin. As a result, the award given to miners for each mined BTC block is divided in half. It happens about every 4 years (or more precisely after every 210,000th block is mined).