TOP 10 CRYPTO LINGO YOU SHOULD KNOW
By
Netwex Coin
On
April 25, 2018
In
Cryptotrading
So as I was staring at my laptop wondering what I can copy and paste from Google for this week's blog, suddenly the term HODL came into my mind. Ok, truth be told it didn't pop into my mind, just go with the flow, alright. So there I was pondering on what to put on my blog, lo and beHODL(see what I did there) it comes to me. For those who don't know what HODL is, continue reading and for those who got it here's a thousand points. So today I am going to introduce to you a list of slangs every cryptocurrency enthusiast should know.
#10 PUMP AND DUMP
Aah!! the inexhaustible cycle of a Shitcoin getting a ton of pampering which in turn leads to a quick price increase, followed by a huge crash. Traders who pump, buying huge volumes, may wish to invoke FOMO (Fear of Missing Out) from the uninformed investors and then dump, or sell, their coins at a higher price.
#9 SHILL
Relatively common in English, a person who entices or encourage a product. The implication is that the shill is paid to promote an illegitimate or scam product. These are useful for pump-and-dumpers, since they might get people excited to invest in a scam. Of course, if people figure it out for what it truly is, the reaction is mostly "OFF WITH HIS HEAD" i.e., people yell at them in ALL CAPS on forums and the shill makes a new account). Used as both a noun and verb.
#8 Bagholder
This is the one who has held on for too long. From the English phrase “left holding the bag”: the person is stuck with a shitcoin and didn’t exit at the top of the buywall. If you hold too long, especially if you’re AFI on a shitcoin, you will be a bagholder.
#7 AFI
All f**king in, just like in gambling, when someone decides they will put all their money into the proverbial one basket. If lady luck is with you, jackpot, but most often this ends in tragedy and you end up looking yourself in the mirror and thinking "Oh Dear Lord Almighty, what the fudge did I just do".
#6 SHITCOINS
It’s clear as a day as to what it means, and is one of the more offensive terms which is thrown around quite casually. So if someone doesn’t like your coin, even if it has a decent technological and business foundation, it’s a shitcoin. But to be fair, a lot of coins are shitcoins.
#5 BUY WALL
Let's say XLR8 coin's price is meandering along at 500 for three days, but then it jumps to 800 in an hour, then to 1200 the next. This is a buywall, and it is a bit like the sideways momentum ran into a wall. Of course, a crash generally occurs afterward, because who could resist selling at a 140% gain over two hours? Then you “buy the dip” with the proceeds, of course.
#4 FUD
Fear, Uncertainty, and Doubt. Three concepts anathema to growth. It is a disinformation strategy used in sales, marketing, public relations, politics, cults, and propaganda. FUD is generally a strategy to influence perception by disseminating negative and dubious or false information and a manifestation of the appeal to fear. So in the world of cryptocurrency, FUD is baseless negativity spread intentionally by someone who wants the price of certain coins to drop.
#3 BULLISH AND BEARISH
Bears attack with a downward swipe, Bulls attack with an upward thrust with their horns. This is in relation to the price of the bitcoins.
Bear = down, Bull = up.
#2 BEARWHALE
a portmanteau of one with bearish sentiments and major influence. It is a whale(large or influential player) with a bearish sentiment. They can be quite dangerous, because they may sell off large quantities at high points, depressing the price. A bearwhale sounds like a menacing threat, and it certainly is.
AAAAND!!!!!!
#1 HODL
The most popular crypto lingo term there is, HODL. The origin behind it is quiet amusing. So a guy, on December 2013, presumably intoxicated, misspelled ‘HOLD’ as ‘HODL’ on one of his post. And the rest is history, the term has since then gone viral, popularly abbreviated for ‘Hold On For Dear Life’. It refers to the common sentiment among Bitcoin aficionados to hold on to their investments in the face of plunging prices.
Now that you know the slang you don't need to sit with a dumb grin on your face with tears on the verge of rolling out and you trying to hold it back and thinking what in Gods name does he mean by HODL when someone starts speaking bitcoin to you.
Interested in trading and selling cryptocurrency, Check out our Netwexcoin website at https://goo.gl/8SDnvK
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