A Hodling State of Mind: Crypto Slang & Speak
Crypto vernacular is becoming more common. Once only for insiders on coin forums and chatrooms, crypto terms and phrases are now openly used on such popular mediums as CNN and popular programs.
HODLING
What is hodling? Basically it means to invest in a coin and hold on to it in the hopes it will grow in value. A drunk guy coined the term in 2013 while ranting on a crypto forum one night. He meant to type holding but even though the drunk mind speaks the sober heart, the drunk fingers do not a correct word spell.
In this case, however, his inebriated digits clicked their way through the viral interwebz and the rest is, well, history. Hodl, and it's variations- hodling, hodler, hodlor, hodl-ahy-hee-hoo, are now common and used thousands of times a day across the web.
MOON
To the moon, Alice! Mooning is when the price of a coin is experiencing a sharp spike. In December when SBD shot up, it was "going to the moon." "STEEM will go to the moon in 2018" means the value will rise.
SATS
You can score with these SATS even if you cannot spell your own name correctly. In cryptospeak, Sats are Satoshi-
or the smallest fraction of a bitcoin. One Satoshi is 0.00000001. They are named after Satoshi Nakamoto, the creator of Bitcoin.
Whale
A whale is a person who owns a large amount of cryptocurrency. Like hundreds of thousands or more. A whale on Steemit is the user you hope swims by your post and invests one second of their time to click Upvote. A single whale vote is worth hundreds of dollars or more.
FUD
ATH
All Time High
FOMO
Fear Of Missing Out
Bagholder
A bagholder is the one left holding a large amount of cryptocurrency after a dip. Usually they invested during a spike, and when the price of that coin suddenly dipped they must hold or risk losing a large investment.
This is by no means an exhaustive list of terms. As cryptocurrency becomes more mainstream, expect more words and terms to describe this amazing frontier!
Have you heard any new phrases or terms that should become mainstream? Share in the comments!
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I can totally relate to the title "bagholder" as I have been there before. It was hilarious and sad at the same time.
Oh no! lol
Haha, It's really funny how a little mistake (while drunk) like that can become a new popular term! I'm pretty sure as the years pass, we will see hundreds of new terms for cryptos... It will be hard to keep up with all of them!
Right?! We will need a cryptowiki lol
Indeed we will!
@arbitrarykitten maybe we can start some NEW Slang with like putting in less than one ETH into an ICO to buy some tokens as getting a "Little Kitty" ??
Ooo, good one! And fitting :)
And we have to invent a new word for the great people like you.@arbitrarykitten
thank you for sharing this word with us
Awe, you are too sweet <3
Thanks for taking the time to compile this list. I'm pretty sure I know most, if not all of them, somewhere in the back of my mind, but don't use them all regularly, and didn't know the history of HODL.
I've even been a bag holder myself a few times. Not really invested at a high, but a higher point than where it dropped to. As a result, I'd end up trading back and forth for hours trying to get the lost value back, and then end up profitable. :D
One time I remember this happened with BCC. I bought in, and it went down. The only option I had was to HODL, or occasionally sell a few coins, then buy lower, then rinse and repeat. The bots trading the coin were so annoying that I eventually decided to just get out and cut my losses. It was only then that I realized I was actually up in profit about $120, even though the coin was lower than where I bought in. :D
Oh wow! Now that's quite the exercise, lol!
I'm so glad you came out ahead tho!
You have to be in it for the long run when it comes to investments. That goes for almost every type there is. Times like these should be looked at as buying opportunities.
I couldn't agree more. Coin investment demands nothing short of a long game!
This article is great. Learned a lot as I am a bit of a noob to Steem and cryptocurrencies themselves.
It is a bit distressing one of these is based on a phrase from Hooneymooners that references wife-beating. Then again, memes have a logic that logic knows nothing of. As with hodl taking a life of its own. 😅
Memes are alive in a way, and have a life of their own, lol!
Yeah accruing these words mark the timeline of your time looking at crypto. I understood many of these words but to not to the depth of your descriptions.
Happy to share a little depth :)
@arbitrarykitten, I have been involved with cryptos for the last few years. I had heard most of the acronyms, but not all of them.
Thanks for giving a fun description for each. This is a must see glossary for beginning users.
Upvoted and resteemed
Glad you learned something new! Thank you :)
Awwww now i know they type hodl instead of hold. Hahaha plus new terms too. Upvoted and resteemed.
Lol, isn't it funny! I wonder what that guy tells his friends!
Yea haha xD lolz