Common crypto slang and origin of cryptocurrency
crypto slang is associated with cryptocurrency, and as a crypto newbie, you may be quite confused when crypto traders are using it to communicate in their videos or articles. Nevertheless, I will clarify the crypto slangs that you find difficult to understand. Before I go into that, I would love to first explain how cryptocurrency and blockchain came into existence and became a digital gateway and financial freedom opportunity for people all over the world.
Cryptocurrency is a form of digital, “decentralized money” now no longer government-issued but controlled through personal encrypted databases, referred to as blocks in contrast to conventional “hard” or paper money; cryptocurrency has no bodily shape. It’s hard and fast of facts, secured with the aid of using cryptography (the technology of encoding and interpreting facts)—this is why it is referred to as “cryptocurrency.”
When points are encoded, the facts are transformed from one shape to another, much less discernible, and are then decoded—or reverted—lower back to their original condition with the aid of using the end-user.
This blockchain system removes the opportunities of double spending and counterfeiting, reinforcing the safety of using cryptocurrency to pay for things.
ORIGIN OF CRYPTOCURRENCIES
Before the modern iterations of cryptocurrencies, numerous tries didn’t advantage full-size traction. Those encompass thoughts from inside the early Nineteen Eighties in the Netherlands and United States.
The earliest noteworthy digital currency can be Digi cash, which failed in the 1990s. PayPal and competition later emerged and took a hybrid technique in which they treated virtual transactions in current currencies. These agencies nevertheless play a chief function in online and global commerce.
Other tries at cryptocurrencies or their underlying generation encompass B-Money, Hash cash, Flooz, and Bit Gold. One of the most prominent names in early cryptocurrency is David Cham, a pc scientist, and mathematician who created Digi Cash and might have had a function in later crypto development. But the real beginning of Bitcoin stays mysterious.
Modern cryptocurrencies were first defined in 1998 with the aid of writer Wei Dai. The idea ultimately emerged in 2009 with the discharge of a white paper that explains the rules of blockchain and bitcoin. The writer of the white paper is “Satoshi Nakamoto,” which is probably a pseudonym for both Someone or an organization of people.
The growth of cryptocurrencies continues to increase for several general reasons: International transfers are cheaper than those made with traditional money. Reduce financial poverty, increasing access to services. They are fast and can be sent in seconds at a low cost. You have complete control of your assets. They are free and universal.
They are unstoppable since no one can block a transaction through the blockchain.
CRYPTOCURRENCY TRADING TERMS/SLANGS AND MEANING:
In this section, I will explain a few crypto slang you should learn as a crypto beginner. This will make you fall in line when crypto terms are being mentioned.
🔵#ALTCOIN = Any cryptocurrency other than bitcoin.
🔵#ASHDRAKED = A situation where you lost all your money.
🔵#BAGHOLDER = A person who buys and holds a particular coin(s) in large quantity, hoping to make good profits in the future.
🔵#BEAR/BEARISH = Negative/downward price movement.
🔵#BTFD = Buy The Fucking Dip (an indication to buy a coin when it has gone down a lot).
🔵#BULL/#BULLISH = Positive/Upward price movement.
🔵#DILDO = Long green or red candles on the chart.
🔵#DUMP = To Sell off a coin or when a coin price drops suddenly.
🔵#DUMPING = Downward price movement.
🔵#DYOR = Do Your Own Research.
🔵#FA = Fundamental Analysis (Any positive or negative news that can affect the price of a coin)
🔵#FOMO = Fear Of Missing Out (A coin is pumping/going up, and you get the feeling it’s going to pump more, so you buy even when you see it’s high, hoping to make a profit because of your fear of missing out on the ride).
🔵#FUD = Fear Uncertainty & Doubt.
🔵#HODL = Hold/Hold a position, hold a coin and not sell.
🔵#JOMO = Joy Of Missing Out (When you express happiness for not buying a currency that is currently doing poorly).
🔵#LONG = Predict upward price movement and take a position by buying.
🔵#MCAP = Market Capitalization.
🔵#MOON = Continuous upward trend of price.
🔵#OTC = Over The Counter.
🔵#PUMP/ PUMPING = Upward price movement.
🔵#SAJ #CANDLE = Huge green candle.
🔵#SHITCOIN = A coin with no potential value or use.
🔵#SHORT = Predict downward price movement and take a position by selling.
🔵#SWING = Zigzag price movement (Upwards and downwards).
🔵#TA = Technical Analysis.
🔵#REKT = This crypto slang describes when you have a terrible loss.
🔵#REVERSE INDICATOR = Someone who is always wrong, predicting PRICE movements.
🔵#RSI = Relative Strength Index.
🔵#WHALE = Very Wealthy trader/Market mover. Key points to note when buying and selling cryptocurrencies.