2 min read
How did I decide to write this crypto dictionary?
Small Crypto dictionary is a necessity and you will see why.
It was like this.
One day I decided I would become a cryptocurrency trader. Well, it was more of my wish than a decision, actually.
“How do I start trading crypto? Is there a dictionary??” – And didn’t find one…
Anyway, my first thought was that it is necessary to know the terminology in order to communicate and understand what other people talk about.
Therefore I joined a trading chat room.
Frankly, I joined a lot of trading chat rooms.
I wandered from one to the other trying to understand what these people are telling at all. I was not able to understand any of their conversations. The people inside were using jargons and terminologies that I had not ever heard in my life.
The misspellings are not as you might think
You must have noticed people misspelling “HOLD” as “HODL” even when they have an auto-correct feature on their phones or computers. Have you?
This was my first unknown word. Like I heard for the first time in my life word NUKELAR instead of NUCLEAR.
OK, I was laughing then, but crypto is a serious field. Hence, I took it as a serious field.
The point is that in these crypto communities, offline or online, a new breed of lingo has developed. If you don’t know these jargons, you might feel left out and more than a bit puzzled.
Honestly, I was.
That’s why I want to get to know you with these new words and clarify their meaning.
* HODL (my first shock)
I read a sentence “I AM HODLING” on some forum.
Well, what happened to this man, I don’t know. Maybe he was angry that the price of Bitcoin had fallen, I do not know. Maybe he was drunk too. But since then, this misspelled term became very popular in the Bitcoin and cryptocurrency world.
Basically, “HODL” was originally a typo which has now popularly earned the status of a humorous backronym:
“HODL” – “Hold on for dear life”
When someone says that he/she is hodling or suggests to hodl, it means that they believe their coin will be profitable one day, even if is not today.
And you’ve probably seen some other jargons that you don’t know the meaning.
Because of that, here’s a crypto dictionary for some common crypto-terms:
* FOMO – Fear of missing out. Wiki definition is – A pervasive apprehension that others might be having rewarding experiences from which one is absent.
* BEAR – This means a trader/investor who believes the prices of a particular cryptocurrency or market will fall and wants to profit from that fall.
* ATH – All time high. This means that the price of a certain cryptocurrency or coin has broken all of its past records and is trading at the highest price it has ever achieved.
* WHALE – Term borrowed from gamblers. It means a trader with a fat account, one who thinks the market will rise on the price of any specific cryptocurrency. These people are also referred to as bullish whales.
* BEARWHALE – Trader with a fat account who is bearish on the price of a cryptocurrency.
* BAGHODLER – Investor or a trader who has been holding (or hodling) for too long on a particular cryptocurrency and now has to face the consequences of that decision.
* REKT – Misspelling of “wrecked”. Means a trader or investor who is completely ruined and destroyed with losses from the current downfall of a price.
* TO THE MOON – The price of some coin will one day go to the moon!
* ADDY – Cryptocurrency public address (or key). For example: “Tell me your ADDY.”
* FUD – Fear, uncertainty, and doubt.
* CHOYNA – A intentionally distorted way of referring to China.
* SHITCOIN – A coin with no potential value
* SHORT – Margin bear position
* LONG – Margin bull position
More strange terms in the crypto dictionary
* SWING – Zig-zag price movement (ups and downs)
* REVERSE INDICATOR – someone who never nail price movements, always wrong predictions
* PUMP – Upward price movement
* DUMPING – Downward price movement
* OTC – Over the counter
* DUMP – To sell off a coin
* BTFD – Buy The Fucking Dip (meaning buy a coin when it has dumped so hard)
* ASHDRAKED – A situation where someone lost all money
* DILDO – Long green or red candles on graphics
* ALTCOIN – Any cryptocurrency which is not Bitcoin
These are some of the jargon I’ve found on forums and chat rooms. Also, it was pretty funny when I saw new jargon on the internet and I had a lot of fun to find out the meaning of those words. That’s why I wrote this crypto dictionary.
For more check Trading dictionary
Well, if you find some new, let me know. OK?