The community is so energetic and eager to learn, eager to help, fun.. The memes, the gifs, and the collectiveness of the crypto community is one of the most important aspects that I love about crypto. Here’s the must-know, intro level phrases to speak the crypto language: ELI5! "Explain like I’m 5", "Do Your Own Research", "Fundamental Analysis" "FOMO" is the emotion you feel when you see a huge green candle goin down"
My first contact with the crypto community was by the Telegram groups. First times, I was feeling like an alien.. Understanding a sentence was like solving another language. “LET’S HODL!”, “I’M GOING LONG”, “WHEN LAMBO?” what were they telling? The memes, the gifs, graphs, I was like in another planet. Then one by one, searching and seeking it took me a short time to speak the same language with the community. And the community became something really valuable to me, it is one of the most important aspect that I love about crypto. The community is so energetic, eager to learn, eager to help, fun.. the memes, the gifs, the collectiveness.
Ohh.. It was a pretty long introduction, let me kick off the list. I hope you’ll enjoy your time with the crypto community. Here’s the must-know, intro level phrases to speak the crypto language ELI5!
ELI5: Not especially a crypto word, but it’s better to know it. “Explain like I’m 5”.
hodl: You will see this word a LOT, “hold” is the origin of the word. Crypto is a volatile market and try to avoid the panic sell and just hodl.
FOMO: “Fear of Missing Out” the emotion you feel when you see a huge green candle, the emotion you feel when you see +%120 coins in the market.
FUD: “Fear, Uncertainty and Doubt” the emotion you feel when you see a huge red candle goin down, the emotion you feel when you see -%30 coins in the market. The feeling that you wanna sell really bad.
Moon: A great rise in price, to the moon!
Pump: Rapid upward movement of the price with a big volume. (Most of the time a play from whales or an institution)
Dump: Rapid downward movement of the price with a big volume. (Most of the time a play from whales or an institution)
Whale: someone with lots of coins
Fish: someone with small amount of coins
Pump&Dump (P&D) : whales/groups moving the markets up and down
ATH: “All Time High”
BT(F)D: “Buy the (Fuckin’) Dip”
DYOR: “Do Your Own Research” Don’t be a sheep!
FA: “Fundamental Analysis”, it’s simply the news, events and project.
TA: “Technical Analysis” it’s simply the chart/data analysis .
MCAP: “Market capitalization” = price × circulating supply (Quite different in crypto than the stocks.)
lowcap/midcap/highcap coins: coins with low/mid/high market caps according to your scale.
FIAT: Government money (USD, EUR, etc.)
Exchange: The platform where you trade cryptocurrency
Altcoin: “Alternative coin”, everything except btc right now.
Rekt: When someone lost a lot of money from a trade.
Bagholder: You buy a coin/token, it’s price decreases. Then, you don’t wanna sell and now you are a bagholder.
Bullish: Expection of upward movement, the greens.
Bearish: Expection of downward movement, the reds.
Long: A buy position for selling cheaper.
Short: A sell position for buying lower.
Margin Trading: Simply, trading with a borrowed money, you lend money from the exchanges and create long or short positio contracts with the lended money, that’s a margin trade.
Limit Order: “A stop-limit order is an order to place a regular buy or sell order (also known as a “limit order”) when the highest bid or lowest ask reaches a specified price, known as the “stop.” (from poloniex.com)
ICO: “Initial Coin Offering”, like an IPO, fund raise.
Mining: like mining gold, instead of swinging your axe, your computer solves some problems.
lambo: the car that we buy when we have a succesful trade, the ultimate goal in the crypto community.
Faucet: they give free satoshis.
sats/satoshi: 1 Satoshi=0.00000001 BTC.
Satoshi: Father of Bitcoin.
Vitalik: The guy who decided to found etc while playing WOW.
Arbitrage: Enjoying the price difference between exchanges.
Panic Sell: Selling in a panic when you see a red candle.
Weak Hands: People sells with a panic in FUD, the first group of sellers.
Price Wall: a limit order accumulation at a specific price.
Fork: A divergence / an update on blockchain. (may be irreversible, a hardfork — may be reversible, soft fork)
Shitcoin: A shitty coin.
Whitepaper: A document which describes the project.
Maker: Someone puts orders in the orderbook. Makes liquidity.
Taker: Someonedirectly buys or sell from the orders in the orderbook. Takes liquidity.
Thanks for reading, I hope it was helpful. I’ll be updating this post and adding new words.