20 POPULAR CRYPTOCURRENCY TERMS YOU SHOULD KNOW
A consolidated list of the most popular terms in the crypto world to flex with your crypto buddies!
1. Node: Any computer that hosts the blockchain.
2. DApp: A decentralized application, often stored on a blockchain.
3. HODL: A misspelling of “hold” that now means Hold On for Dear Life.
4. DYOR: Do Your Own Research.
5. Digital Asset: Not every cryptocurrency is meant to be a currency. If it is a digital store of value, it can be called a digital asset (both Cryptokitties and Ether are digital assets, but only Ether is a cryptocurrency token).
6. FOMO: The Fear Of Missing Out. The emotional response that makes people impulse buy tokens at their all-time high.
7. FUD: Fear, Uncertainty, and Doubt. The emotion that people try to invoke in others when they want to bring the price of a coin down or drum up headlines.
8. ICO: Initial Coin Offering. A process that involves creating a new token and raising money for it. The process is often done using smart contracts on the Ethereum network. After a new token is created, it then has to be distributed.
10. STO: Security Token Offering. Similar to an ICO, an STO is made by a company selling securities to the crowd, in which consumers purchase cryptocurrency tokens built on a blockchain. To perform an STO, the company has to register the offering with the SEC (The Securities and Exchange Commission) or use an exemption from said registration. Whereas ICOs are the sale of coins, purported utilities or even currencies, STOs are the sale of securities such as stocks, bonds, funds and real estate investment trusts (REIT) that are represented by tokens.
11. Pump and Dump (PND): Pump and dump is a scheme that attempts to boost the price of a stock, or cryptocurrency through recommendations based on false, misleading or greatly exaggerated statements.
12. Rekt: This word basically means "wrecked", is often used to refer to someone who made a bad investment by selling their coins, right before the price of the coins starts skyrocketing. So, it is said that the investor got rekt.
13. Obsessive Cryptocurrency Disorder (OCD): Derived from “obsessive-compulsive disorder,” this term refers to an issue that many cryptocurrency enthusiasts encounter: they can't stop talking about cryptocurrency. Thus, they check the prices too frequently, literally every other minute.
14. Bitshaming: The act of shaming a HODLER who has been involved in bitcoin for several years but hasn’t become a millionaire yet. The term was coined in December, when cryptocurrency enthusiast Roger Ver, also known as “Bitcoin Jesus,” called out bitcoin speaker Andreas Antonopoulos on Twitter for not investing money in bitcoin early. Oxford Dictionaries even highlighted the new word in a December blog post as the word caught on.
15. To the moon: The phrase “to the moon” is often associated with HODL, as a forecast for a cryptocurrency’s value. If someone thinks a cryptocurrency is a “moonshot,” they believe that prices are going to skyrocket (to the moon). The verb ‘mooning’ is also equivalent to ‘increasing’.
16. When Moon?: This is similarly asked when a coin will reach the “moon” value.
17. When Lambo?: The question is basically a short version of “ When will you be rich enough to buy a Lamborghini?”. The phrase has come to be shorthand for when one should sell their coins.
18. Nocoiner: As you might have guessed from the name, Nocoiner is used for a person who either doesn't have any coins at all. This term is also used for skeptics who missed the opportunity to buy bitcoin years ago and take out their bitterness by frequently proclaiming that bitcoin is a scam and will crash.
19. Shilling: Shills are known in all industries as deceptive promoters, talking up products or positions for their own benefits. In the cryptocurrency space, a shill is someone who discreetly advertises a project or a coin without specific merit by spreading 'buzz', when in fact they are potentially being paid for their services.
20. Whale: someone who holds a lot of stored value in a particular coin.