Do you understand the Crypto Lingo?
Whenever you go through any articles on Cryptocurrencies or go to any forums like Reddit Bitcointalk you will encounter a lot of terms which are hard to decipher for someone new to the world of crypto. It is hard to catch up as it seems every day they come up with some new terms but let me list here the basic ones which are the most common and after you learn these you will be able to understand most of the discussions related to Crypto.
HODL - This is probable the most common term you will keep running into. This means holding onto for long term and not selling out during a sudden price crash or price rise. This term originated when a Reddit user made a typo when he was trying to say that he will hold onto his Bitcoin despite the growing fears that it might crash to zero value. He later admitted that he was drunk while typing and didn't notice the mistake. This mistake got wildly popular and is now used by anyone who is holding a crypto long term with a strong believe that it will be invaluable after a few years
FOMO- This is an abbreviation for Fear of Missing Out and signifies a person who is new to cryptos and is feeling pressurized to buy bitcoin or other altcoins being lured by a sudden price rise. This makes people buy bitcoin when it's price is escalating rapidly and several time it might crash or correct drastically soon after.
Whale - This term is used to refer to a person who hold large quantities of bitcoin or other cryptos. They are usually market manipulators who buy or sell in large numbers with the intention of making sudden fluctuations in the price for their personal gains. Person who sells a large amount to decrease the bitcoin price is a Bear Whale
Pump & Dump- This is used to refer to price manipulation. Pump means a sudden increase in bitcoin price when a whale buys a large quantity and dump means a sudden drop in price when the whale sells his coins to book his profits.
FUD- This is short for Fear, Uncertainty and Doubt and is a market manipulation technique used by whales to spread rumors about an imminent crash so people sell their coins quickly so they can collect more at a lower price
Bitcoin Maximalist- This is a term used for Bitcoin fans who are diehard believers that only bitcoin is the tru crypto currencies and other cryptos are worthless
Shitcoin- It is a derogatory term used by Bitcoin maximalists to refer to Altcoins
Moon- This indicates the rise of Bitcoin to unimaginable levels to the tune of millions. It is the eternal dream of all crypto holders
#Lambo- This refers to buying a Lamborghini with the profits you make by Bitcoin. This term got popular after lamborghini announced that they will start accepting bitcoin as a payment method