Enthusiasts for cryptocurrencies are creating brand-new, alternative financial systems and assets. They are also coming up with new abbreviations, terms, and phrases for their neighborhood. Deconstructing these language hurdles can be a fantastic place to start if you're interested in investing in cryptocurrency or learning more about the industry. Knowing these complex expressions and acronyms may enable a crypto novice to purchase the dip and HODL through a wave of FUD. The meaning of that will be crystal clear to you by the end of this article.
FOMO - "Fear of missing out" (FOMO) occurs in all facets of life. It generally occurs in the cryptocurrency market after a dramatic bullish breakout, when concerned investors debate whether to enter an already expensive market in the hopes of staying with the advance for the duration.
Rekt - Rekt, pronounced "wrecked," describes what happens if a lousy cryptocurrency trade costs you money. You might have been a victim of a Rugpull or a Pump and Dump Scheme if you didn't DYOR. You're in trouble if you're rekt.
DYOR - Numerous blockchain projects are constantly emerging and competing for your investment funds. However, a lot of recent initiatives are fraud, so you should do your study before investing in anything. Knowing the cryptographic word DYOR is helpful. It serves as a reminder for the investor to research a project before purchasing. Demanding investors to do their research (DYOR) is another approach to abdicate responsibility; some NFT sales and ICOs sell out in minutes, making DYOR impossible.
FUD - Fear, uncertainty, and doubt. This cryptocurrency expression is used to dismiss doubts about a cryptocurrency project because they only attempt to sow doubt with the eventual purpose of collapsing the project's price. It is accurate in some cases—FUD is only misinformation from a competitor project—but in others, it's just a convenient technique to hide issues.
Moon (Mooning) - A cryptocurrency's price soars To The Moon or up very high when it rises. Crypto traders may also use the term "Lambo," which is the cost of a Lamborghini. When traders express their frustration over the failure of a cryptocurrency project in which they have invested to experience a meteoric price rise, you could hear them ask, "Wen Moon?" or "Wen Lambo?"
Pump and Dump – The term "pump and dump" doesn't just refer to cryptocurrencies; it also occurs in the stock market. In regulated securities, it is forbidden and is regarded as market manipulation. A pump-and-dump situation essentially occurs when investors hype or inflate the price of an item, like a cryptocurrency, and then quickly sell their holdings before the price drops again. They pump it up and then quickly release it to avoid a fall.
Whales - A whale in the world of cryptocurrencies is an organization, individual, or wallet that holds a sizable holding in a particular cryptocurrency. A Bitcoin whale, for instance, might be a business that holds 50,000 bitcoins and can influence the market with a single trade.
Flippening - The hypothetical — and some claim inevitable — event when the price of Ethereum surpasses that of Bitcoin is referred to as "flippening."
HODL - Hold on for dear life is referred to as HODL. Popular cryptocurrency joke "HODL" is a typo of the word "hold," which some people have mistakenly understood to mean "hold on for dear life." The phrase first appeared on a Bitcoin forum in late 2013 during a moment of market turmoil. An uneasy investor complained about how investors are better off buying and holding cryptocurrency in their wallets rather than trading highs and lows.
Vaporware - It is an unfinished project that only exists as a hypothetical fever dream. Vaporware is something you would invest in if it hasn't yet been constructed.
Shitcoin - A coin with no value or purpose.
No-coiner - A person that has no bitcoin or crypto. It can sometimes be used as a derogatory term for people outside the crypto community.
Shill - Shilling is frequently employed in pump-and-dump scams and has a bad connotation, although it can also be used in other situations. For instance, a cryptocurrency project developer may shill their project to help it attract users and flourish. In contrast, a casual investor may shill a failing cryptocurrency in their portfolio to sell it for a profit at a higher price. Influencers may be paid to promote a cryptocurrency or service.
Sats (Bitcoin) - The smallest amount of bitcoin that can be sent. Named after Bitcoin's anonymous creator, that used the pseudonym Satoshi Nakamoto.
Bagholder - A bagholder is a person who entered a position at a premium price and then watched the value of their assets crypto decline.
BTD/BTFD - BTD, which stands for "buy the dip," or Buy the "F***g Dip," is a phrase frequently used in the financial markets to describe taking a long position during what is thought to be a transitory decline in the price of an asset. It is more frequently employed in bull markets to boost growing prices and bullish emotions. Still, it is also used in bear markets for cryptocurrencies to acquire at good historical value for a longer-term investment horizon.
Cryptosis - When someone catches "cryptosis," they are infected with the crypto bug and can't stop talking about it. The affected is always reading, writing, talking about, and ingesting cryptographic-related knowledge. This is crypto obsessiveness.
RugPull - The term "rugged," derived from the term "rugpull," describes a decentralized financing initiative that ultimately turned out to be nothing more than an exit scam. The term "Rugged" places the blame on dishonest developers. It is similar to a recent scheme in the $SQUID token of the Squid Game project that rekt investors badly.
Paper Hands/ Diamond Hands - These phrases have found their way to the cryptocurrency world thanks to WallStreetBets, the Reddit site that ignited the Gamestop and AMC surges. One who prematurely liquidates their holdings is known as "Paper Hands." Risk-takers who hold on to their assets, or HODL in crypto-speak, are known as Diamond Hands. If too many people sell an asset, the price of that asset could drop; hence the phrase "diamond hands" is a warning to others not to sell.
Now you have the bragging rights, go forth and blend in with the crypto community.
So if you are a No-coiner, just DYOR, invest in decent project then HODL your assets, manage your FOMO and wait for your coins to MOON in the Bull market and may be get yourself a Lambo, beware of Shitcoins and Rug-pulls. Happy Trading Fam!