The LEXICON of crypto trading community is AMAZING! #learnit #bitcoin #magicmoney

Bitcoin has been on a rollercoaster in the last few days. A lot of new people joined the crypto trading community, and a lot of them are confused? What do people spell hold wrong? What's a #WhalePool? So, here's a little guide for you!

#Hodl — Hold your coins! Set the stop loss (if you are in trading platform) order as low as possible. A stop-loss is designed to limit an investor's loss on a security position. Setting a stop-loss order for 10% below the price at which you bought the stock will limit your loss to 10%. But because we don't want to sell our bitcoin, set your stop-loss order for 99%. This will save you from price fluctuations, because any crypto can fall down by 20-30% in minutes, and go back up. But you already lost your money. So, don'tcapitulate in the face of plunging prices. The term was established by a GameKyuubi in the great bitcoin crash of 2013: “I AM HODLING” a post on Bitcointalk. But be careful and don't become a #Bagholder — An investor who has been hodling for too long, and is left to face the consequences.

#Whale — a trader with a fat account, usually one who is bullish on the price of bitcoin. Also, there can be a #BearWhale – a big-time trader who is bearish on the price of bitcoin. Basically BearWhale is a dangerous creature because he/she/it tries to sell large quantities of bitcoin on the open market, lowering the price for everyone else. But if the hodlers align with whales, they can slay it. The most common example is an epic battle, bitcoin believers slayed a $9 million BearWhale in 2014. Someone posted a limit order to sell 30,000 bitcoins at $300 each—well below the mid-300s price level the cryptocurrency had been trading at throughout the weekend. In the still-nascent market, an order of that size spooked the market, sending prices plummeting to levels not seen for a long time. And although he was eventually defeated—the order was cleared after making a remarkable pattern in the bitcoin price chart (below)—the community of cryptocurrency enthusiasts has begun to mythologize the incident, creating artwork and poetry in honor of the battle. Not only are they proud of successfully pushing against this perceived bearishness, but also no one can really figure out why the BearWhale emerged to begin with.

#Altcoins – Basically any coin that is not bitcoin is an alt coin. Altcoins are the alternative cryptocurrencies launched after the success of Bitcoin. Generally, they project themselves as better substitutes to Bitcoin. Many altcoins are trying to target any perceived limitations that Bitcoin has and come up with newer versions with competitive advantages. There is a great variety of altcoins.

#Shitcoin – this is not necessarily a bad term, but usually a great ways to lose your money. But traders don’t avoid a coin because it is a shitcoin. There is traders who rally a coin with a broken blockchain. Just never fool yourself and start believing in a shitcoin.

#Rekt — Borrowed from online gaming slang, to mean utterly destroyed or ruined when you discover that you were the last person to ever place an order to buy that shitcoin. One trader on r/bitcoin put out this this elegiac call after one of bitcoin’s many crashes: “MOMENT OF SILENCE FOR ALL OF THOSE #REKT ON MARGIN CALLS”.

#PumpNdump- This does not mean what you think it means. Alt Coins are so full of Pump and Dumps that the term has a different meaning. Basically, anything that goes up is a ‘Pump’ and anything that goes down is a ‘dump’. Noobs will get the most of the latter. But if you really want some real life examples, Pump N’ Dump is a process of acquiring a girl's love, having your way with her in bed, and then dumping her immediately afterwards and never returning her calls.

#Choyna — A distortion of “China,” a country that is hugely influential to bitcoin because it’s where the most trading and mining activity occurs.

#Minning – Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. Anyone with access to the internet and suitable hardware can participate in mining. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards. The rewards, which incentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin.

#FOMO – The fear of missing out. You see that big, pretty green candle and can only think it will get even bigger. So you put all your money and after one day realize, that the price is already falling. And if you read some fancy book, you will find this definition: Fear of missing out or FoMO is a pervasive apprehension that others might be having rewarding experiences from which one is absent. This social anxiety is characterized by "a desire to stay continually connected with what others are doing". FoMO is also defined as a fear of regret,[4] which may lead to a compulsive concern that one might miss an opportunity for social interaction, a novel experience, profitable investment or other satisfying events.

#FUD – Another cool acronym. Fear, uncertainty and doubt. If someone hates your shitcoin, it is FUD. If you hate their shitcoin, you are spreading FUD. Basically any logical criticism is FUD.

#Bitcoin #Maximalist – These people have a great vision for our future. Imagine Mad Max meets the rapture- but everyone only takes bitcoin. If you love this vision, you are a maximalist. Maximalist usually end up as a Bagholders.

#Fork – There is another four letter word used interchangeably with the word ‘fork’. If your alt coin developer starts talking about a fork… well, you know the rest.

#To the moon! — A rallying cry for bitcoin’s price to rise sky-high. It has sparked existential questions—”Can we please define ‘moon’?“— and attempts to literally translate the phrase by making cryptocurrencies function in space colonies.

Hope this helps.