Getting started with blockchain | Bitcoin price flash is a feature, not a bug?

In the past 2 days, the price of bitcoin that has been flying all the way has collapsed. Yesterday morning, we saw that the bitcoin price was still more than 90,000 RMB. When we went to bed last night to read the circle of friends as usual, we found that everyone was mourning: Bitcoin fell more than 17% in one day, leaving only 80,000. .

After Bitcoin suddenly fell more than 17%, economist and cryptocurrency trader Alex Kruger posted a tweet on the foreign social networking site Twitter to comment on the price collapse of Bitcoin , saying: For Bitcoin (BTC) The price collapse is a feature, not a bug. Either avoid the psychological buying that FOMO is afraid of, learn how to use the timing of the crash, or do long-term Holder holders. This approach is an ideal form of risk management.

In the passage of the economist Alex Kruger, there are two blockchain terms: FOMO and Hodler. Here is a brief introduction to the meaning of these two words.

FOMO is a relatively common blockchain term and is an acronym for Fear of Missing Out, especially for people who are afraid of missing. For example, the recent bitcoin price has exceeded $10,000, and many people will be afraid of missing the next bitcoin to continue to rise. This fear of missing is called FOMO.

Another HODLer, translated as a holder, actually holds the corresponding English word originally Hold. In 2013, a bitcoin holder posted a post on the Bitcoin forum complaining that it was only after a while that a girl had been dating that her girlfriend was a homosexual, and that Bitcoin is now falling very badly. Did not be able to quickly judge the market to sell bitcoin to escape. Now that life is frustrated and economically lost, there is nothing you can do. You can only choose to hold Bitcoin.

While writing this passage, he may have drunk, drunk, and missed Hold as Hodl.

In the forum, everyone thinks that this spelling is also very interesting, it has been used, but after Hodl added a suffix er, it became Hodler.

Some other interesting blockchain terms, as well as To Da Moon. Moon is the meaning of "the moon". To Da Moon is a wonderful expectation for the price of cryptocurrencies such as Bitcoin. I hope they can go up to the moon all the way. Li Qiwei, the founder of Litecoin, often uses Hodler and To Da Moon on social networking sites and communities.

Bitcoin prices skyrocketed in the past few days, and some people have modified the exciting monthly mission of former US President Kennedy in Rice University in 1962 to express their belief that bitcoin prices will rise to the moon. .

President Kennedy’s original words are: “Why do we choose to land on the moon, not because it is simple, but because it is very difficult.” After being modified by bitcoin holders, this sentence became: Why do we Choosing to land on the moon is not because it is simple, but because we want to get rich overnight.

Other blockchain terminology is not detailed today. If you are interested, you can read " The 50 blockchain terms, do you know (on) ", learn more about blockchain terminology, or go to the vernacular blockchain public number dialog box, at the bottom of the "treasure chest" Click on "Article Search" and enter "Terms" to see more about the blockchain terminology.

How do you think about the bitcoin price "flash crash"? Feel free to share your opinion in the message area.

 

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Author | Bit Cat Daily Report | Vernacular Blockchain (ID: hellobtc)

『Declaration : This series of content is only for the introduction of blockchain science, and does not constitute any investment advice or advice. If there are any errors or omissions, please leave a message.