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Learn and Understand Crypto Lingo: HODL, REKT, FOMO & More ExplainedsteemCreated with Sketch.

in steemit •  9 months ago

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New to the Cryptocurrency-space & are you by any chance already overwhelmed with the amount of Bitcoin Slag circulating online?

Just know, that many of us have grown accustomed to the hype surrounding Blockchain Technology, which has actually created somewhat a new figure of speech that is strange or incomprehensible at first but actually used by usually Geeks & Investors

If you’re like me and got caught in a bind of not understanding what others are talking about especially while scrolling through Bitcointalk's forum, you’re left scratching your head as some of the slag, acronym and jargon circulating online which may not make sense at first

As a trader, I’ve noticed many of these Crypto-slags catch on with some even going viral, as some of this Crypto-lingo get's universally adopted around the World, there seems little to no language barrier when it comes to becoming a Crypto-Geek. This post is for those who are interested in knowing a couple of Cryptocurrency Lingo/Slangs without having to look up anurban dictionary

1) HODL.

When you see this, you’ve would assume it’s a misspelling of ‘hold’ which means to not sell your Cryptocurrency. However, many say it actually means ‘’Hold On for Dear Life’’ instead of being just a distorted way of saying HOLD. Trader use this Acronym to often want to get the message across that are not planning on selling their Cryptocurrency

Those who believe in the a particular Cryptocurrency and refuse to sell due to the believe that the investment itself will Revolutionize the World, are like to be called A hodlor (die-hard fan who will not sell & get other to hold)

2) ATH.

This the Short form which means “All-Time High”. ATH is often used by traders even before Blockchain Technology existed, however with Cryptocurrency prices flying through the roof it’s often used to celebrate after having surpassing highest price levels

3) FOMO.

With Cryptocurrency being a relatively new form of investment, traders of have the ‘fear of missing out’, which abbreviation stand for FOMO. When a trader feel’s the anxiety that an exciting or interesting event may currently be happening or often aroused by posts seen on social media. The reason Cryptocurrencies attract so many investors is because of the FOMO, as it play an important role in swing trading market

4) Whale

Why it’s rude to call people fat, traders associate any rich individual who is heavily invested in Cryptocurrency a whale. This is especially true on platforms like Steemit, where Whales are the few individuals that possess fair amount Steem Power, essentially used to upvote Content they which to receive rewards. All Cryptocurrencies have Whales, who are individuals with substantial amount invested that can move markets especially for some of these lower capped Altcoins

5) Pump ‘N Dump

The recurring cycle of an Altcoin getting a spike in price followed by a huge crash. Such movements are often attributed to low volume, hence the ‘pump’. Traders who pump, buying huge volumes, may wish to invoke FOMO from the uninformed investors and then dump, or sell, their coins at a higher price.

6) REKT

Rekt is a slang version of "wrecked" that multiplayer gamer are accustomed to but it’s also commonly used by Cryptocurrency traders. It refers to how one investor is losing big time with a trade, this is often said & used by margin traders that got liquidated for market speculation

7) TO THE MOON

With some Cryptocurrency making over 1000%, you’ve might have come across some users who are asking ‘’ when to the moon?’’ Which refers to when the price will shoot upwards, making some impressive gains as you’re left with a big Green candle that goes beyond Graph & through the roof, leaving the stratosphere eventually ending up on the moon as you keep going

8) Bagholder

When you combine bag and holder together into One word. It’s to define an individual that is excessively holding onto multiple Cryptocurrencies, usually implying that you’re holding a variety of Altcoin over time

9) FUD.

FUD is an acronym that stands for Short form of saying Fear, uncertainty, and doubt. Someone like Jamie Dimon who are doubtful about BItcoin, is famous for causing ‘’FUD” by warning others that Bitcoin is a Ponzi Scam in order to get them to sell

10) DYOR.

This actually stands for ‘’Do Your Own Research’’, often used by Youtubers who admit they aren't financial advisors and that you should always be sure to carry out your own research before investing. DYOR is to warn you to research a Cryptocurrency when you heard someone shilling G Coin as the next big thing.

11) Shills

While it is usually considered to be someone who promotes scam. The shill attempts to spread buzz by personally endorsing the product in public forums with the pretense of sincerity, when in fact he is being paid for his services. in Crypto-space it means anyone who writes anything good about an Altcoin, promotes in hopes of making more personal gains.

12) BearWhale

We all seem to have heard of the famous Wallstreet lingo, ''Bear'' used to indicate a trader's believes that prices will fall whereas the word, Whale is usually someone who owns a lot of Bitcoin/Altcoin. Combine these two and you got yourself a ''BearWhale'' who is by extension a big-time trader who is bearish on current market outlooks

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Resteemed and upvoted. Good post if you like crypto.

Luckily i do like crypto ;)

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Once you know Crypto Lingo, you'll have much better understanding to discussion happening online

Great post with lots of info and easy to follow, deserves an up vote!

Congratulations! I like you and thank you for supporting me along the way. Steem on! Happy Holidays. I included you in me magazine :) https://steemit.com/news/@jacobts/jts-steemit-magazine-1

HODL is the best strategy.

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HODL all the way!

Appreciate for it

I like this post.Resteemed and upvoted .good work

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Always appreciated a Resteem!

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With my pleasure :)

Thank you so much for the resume on the slang! I'm new to cryptocurrencies and recently starting on Steemit, so I find this post to be really helpful for newbies like me on the cryptoworld, since I'm at a loss when it comes to posts containing these.

Following you and giving you my 1st upvote! again, thanks a lot.

This is really a helpful post for beginners like me. Thanks for sharing :)

I still have to learn a lot about all this. Thank you for sharing a very useful post @ steemitguide. Send regards for success.

nice post thank you for sharing the information with us

This article has cleared up so much for me. Thanks👍🏻

you forgot to mention mining..... or cloud mining. I love Hashflare for cloud mining. https://hashflare.io/r/E1BBCDC7

Nice rundown - a couple I didn't know in there!
HODL shirts and more, list of my favorite crypto shirts: https://steemit.com/bitcoin/@aaronbday/favorite-bitcoin-and-cryptocurrency-t-shirts

I love HODL and hate "PUMP and DUMP"
DYOR, not an investment advice
lol :D

if u want make money in crypto , 1st thing you must learn,
Buy in when they all Depressed , sell when u ask yourself when is the right time to sell .

very informative. This will help me with my conversation with other traders, must share it as well. Thanks!