Abbreviations in Crypto space

in #bitcoin7 years ago (edited)

HODL.jpg

AML - Anti-Money Laundering techniques are used to stop people converting illegally obtained funds, to appear as though they have been earned legally. AML mechanisms can be legal or technical in nature. Regulators frequently apply AML techniques to bitcoin exchanges.

ASIC - is an acronym for “Application Specific Integrated Circuit”. ASICs are silicon chips specifically designed to do a single task. In the case of bitcoin, they are designed to process SHA-256 hashing problems to mine new bitcoins.

ATH - Stock traders might recognize this acronym, but tech enthusiasts may not. ATH is short for “all-time high,” a place many cryptocurrencies have routinely visited in recent years.

BIP - Bitcoin Improvement Proposal

BTC - An abbreviation for bitcoin. XBC is another popular abbreviation.

BTFD - Buy the Fucking Dip

DAO - (Decentralized Autonomous Organization) can be thought of as a corporation run without any human involvement under the control of an incorruptible set of business rules.

The DAO - (yes, there’s a difference) was a venture capital fund built on Ethereum that caused a soft and hark fork. It was kinda a big deal, google it.

FOMO - an acronym for “Fear Of Missing Out,” can be applied to stocks as well, but some see FOMO as the true driving force behind the massive inflow of cash in the cryptocurrency market.

FUD - Fear, uncertainty and doubt. The term was adopted by the crypto community to denounce the intentional spread of misinformation and brush off negative rumors and stories.

HODL - “Hold” misspelled by a frenzied Bitcoin trader on an online forum in 2013. It’s become the mantra of cryptocurrency believers during market routs, meant to reassure nervous traders that they should ride out the slump because there’s light at the end of the tunnel.
More canbe found here : https://steemit.com/bitcoin/@piaristmonk/i-am-hodling-do-you-know-from-where-the-meme-of-the-bitcoin-is-coming-from

ICO - stands for “initial coin offering” and is the crypto version of a newly-public company’s initial public offering. ICO investors are hoping to get in on the ground floor of a new currency.

KYC - Know Your Customer laws, regulators frequently apply KYC techniques to bitcoin exchanges.

Lambo - Short for Lamborghini, this phrase is half-jokingly used to describe what newly minted cryptocurrency millionaires dream of using their earnings on. A website called Moonlambos features an online showroom of cars that can be purchased for Bitcoin or Ether. Also common is “When Lambo?”

Moon - A joyous exclamation used by crypto traders when there’s an actual or expected increase in cryptocurrency prices. Also common is “When moon?”

P2P - Peer-to-peer refers to the decentralized interactions that happen between at least two parties in a highly interconnected network. P2P participants deal directly with each other through a single mediation point.

P&D - Pump and Dump

SHA-256 - Secure Hash Algorithm : is the cryptographic function used as the basis for bitcoin’s proof of work system.

TA - Technical Analysis

TX - Transaction

The photo is a Game of Thrones character, Hodor, originally named Wylis, was a simpleminded servant of House Stark at Winterfell working in the stables. This hodor word coming from how he pronounced : 'HOLD the door', so it became a crypto meme.

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Upvoted %20 your post

well nice post ...

Thanks for the sharing =)

This can help stop illegal transactions

You mean what exactly?

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