For those unfamiliar with Bitcoin, entering the Bitcoin forum for the first time is a strange and confusing experience. Stalks like HODL and rekt are used many times in the Bitcoin community, but when curious newcomers ask questions, they can only get “lurk moar” (ie, look more) answers. So if you are just starting to understand Bitcoin and want to integrate into this community faster, the following 16 terms are a good starting point.
- Compared with many historical bubbles - is Bitcoin really bottoming out?
- Bitcoin continues to wait for direction, two indicators need to attract the attention of short-term investors
- How to distinguish between currency currency and fund tray?
- In less than two years, the market value will be evaporated by $460 billion. How can the self-help of the collective misfiring of the altcoin?
- Bitcoin developers: 51% of attacks are not terrible, terrible is the disregard of decentralization
- From lightning network shopping to bitcoin rebates, cryptocurrency payments have "invaded" mainstream platforms
Although HODL is usually capitalized in four letters, like acronyms, it actually comes from "hold". The history of this stalk can be traced back to December 2013, when the users of the official Bitcoin message board were drunk and wrote "I AM HODLING" (I am holding it) in the post. Later, this spelling mistake became popular, and even had a new meaning, because HODL happened to be the abbreviation of "Hold on for Dear Life". HODL means that no matter how fast Bitcoin falls and how low the price, you must hold firmly.
Faketoshi is what the Bitcoin community calls Australian computer scientist and businessman Craig Wright (CSW), who claims to be the creator of Bitcoin Satoshi Nakamoto. However, despite using Bitcoin's keys mined earlier, independent research by Wired and Gizmodo proves his claim is wrong. Although CSW is not the only one who claims to be the creator of Bitcoin without evidence, he is the one most trusted.
It can be said that every Bitcoin trader is trying to become a giant whale. Although the word originated from casino parlance, referring to wealthy casino players, it is also used to refer to traders with huge accounts and bullish tendencies. The giant whale owns a large number of coins-only those who have at least 5% of the bitcoin market share are considered giant whales-and have a huge influence, they can cause prices to rise or fall by buying and selling their coins.
On Wall Street, a bagholder is an investor who has held stocks for too long and has suffered huge losses in the process. Bitcoiner borrowed the term and used it to refer to those traders who failed to drive up the shipping of competing coins (cryptocurrencies other than Bitcoin whose fluctuating prices can create or destroy wealth), leaving only one in their hands Pile of worthless coins.
5. To the moon
The "To the moon" slogan usually comes at a time when cryptocurrency prices are soaring. Similarly, "mooning" means that a coin has reached or is about to reach a price peak. The origins of these two words can be traced back to the forum and Reddit to describe the sharp rise in prices.
6. When Lambo? (When will I buy a Lamborghini?)
An abbreviated version of "When will you buy Lamborghini?" This is a question that traders use to gauge their success. Cryptocurrency transactions are all about making money fast, so a luxurious Lamborghini image is perfect for measuring one's success.
Similar to HODL, rekt is also a deliberate misspelling. The original word is "wrecked". The word originated from a game player and is used to describe a player who is KO. Similarly, traders will use this term to refer to investors who make tragic decisions, such as selling their own coins a few days before the price began to fall, or wasting money on scams.
FUD is an abbreviation of "Fear, Uncertainty, and Doubt", and sometimes stands for "Facts U Dislike". FUD is a term originated by economists to describe how negative human emotions affect the market. In bitcoiner, investors will suppress the price of cryptocurrencies by spreading FUD so that they can buy at a lower cost. Experienced traders will ignore these alarmist strategies and continue to hold their coins until the price stabilizes again.
9. Bitcoin roller coaster
A word used to describe Bitcoin undergoing crazy price changes. Although the word had been around since the birth of Bitcoin, it wasn't until the advent of the "Bitcoin Roller Coaster" emoji package in 2013 that this metaphor made sense.
As the name suggests, junk coins refer to competing coins without any value. Despite being very volatile, there is no real purpose or future, and experienced traders can still profit from trading as long as they manage to buy and sell at the right time.
Bitcoiners refers to those who are attracted to the hype and start cryptocurrency trading as Fear Of Missing Out. People with a FOMO mentality usually buy their first bitcoin or Satoshi when the price of bitcoin approaches $ 20,000, so they are seen by more experienced bitcoin traders as "tourists" rather than serious traders.
The full name of OCD is "Obsessive Cryptocurrency Disorder", which is derived from the term Obsessive-Compulsive Disorder, which refers to obsessive-compulsive disorder related to cryptocurrencies, that is, to check the price of bitcoin or competing coins every minute. The word originated from the crypto forum and is used to describe traders obsessively checking the price of the currency they hold day and night.
If you've heard of fat-shaming, bitshaming is easy to understand. Bitshaming is an expression used by bitcoin traders who have been laughed at because they are not wealthy. Fundamentally, this is the exact opposite of owning a Lamborghini, because bitshamed traders are ridiculed for making bad business decisions. They will only use cryptocurrency transactions to make ends meet, not to make the business bigger. .
Nocoiner is actually an outsider to the cryptocurrency community. Although nocoiner can refer to someone who has never heard of cryptocurrency, it is a poor trader who is most commonly used to satirically sell all bitcoins or a cynical who no longer trusts bitcoin.
DYOR (do your own research) is a common suggestion for any newcomer. In most cases, people are more susceptible to bewildered propaganda and more likely to imitate others' practices. However, trading is not a popular contest, so just because everyone is doing the same thing does not mean you should do the same. DYOR often, avoid listening to childcare, so you won't get out easily.
16. Not your keys? Not your Bitcoins (NYKNYB)
NYKNYB is a security recommendation from Bitcoin expert Andreas Antonopoulos. This sentence came after a massive hacking incident that shocked the Bitcoin community. NYKNYB means that it is safer to place Bitcoin in a wallet protected by a private key than in a transaction platform that is vulnerable to hacking.
The words of the Bitcoin community have been increasing. These 16 words will give you a good start and make you no longer a rookie. So don't forget to study hard, ignore FUD, always DYOR, maybe one day you will also become a giant whale.