giphy 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 Not especially a crypto word, but it’s better to know it. “Explain like I’m 5”. ELI5: : 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. hodl the origin of “hodl” “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. FOMO: “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. FUD: A great rise in price, to the moon! Moon: ex: a guy with fomo trying to chase a pump when he sees that the coin is going to the moon Rapid upward movement of the price with a big volume. (Most of the time a play from whales or an institution) Pump: Rapid downward movement of the price with a big volume. (Most of the time a play from whales or an institution) Dump: someone with lots of coins Whale: someone with small amount of coins Fish: whales/groups moving the markets up and down Pump&Dump (P&D) : a random example of pump and dump in a low-cap coin in cryptopia “All Time High” ATH: “Buy the (Fuckin’) Dip” BT(F)D: “Do Your Own Research” Don’t be a sheep! DYOR: “Fundamental Analysis”, it’s simply the news, events and project. FA: “Technical Analysis” it’s simply the chart/data analysis . TA: “Market capitalization” = price × circulating supply (Quite different in crypto than the stocks.) MCAP: coins with low/mid/high market caps according to your scale. lowcap/midcap/highcap coins: coinmarketcap.com — one of the most useful websites in crypto to monitor the price and mcap Government money (USD, EUR, etc.) FIAT: The platform where you trade cryptocurrency Exchange: “Alternative coin”, everything except btc right now. Altcoin: : When someone lost a lot of money from a trade. Rekt Portfolio. Bag: You buy a coin/token, it’s price decreases. Then, you don’t wanna sell and now you are a bagholder. Bagholder: Expection of upward movement, the greens. Bullish: Expection of downward movement, the reds. Bearish: image from avantfx.com A buy position for selling cheaper. Long: A sell position for buying lower. Short: 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. Margin Trading: “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) Limit Order: “Initial Coin Offering”, like an IPO, fund raise. ICO: Promoting. Shilling: like mining gold, instead of swinging your axe, your computer solves some problems. Mining: : the car that we buy when we have a succesful trade, the ultimate goal in the crypto community. lambo lot’s of memes they give free satoshis. Faucet: 1 Satoshi=0.00000001 BTC. sats/satoshi: Father of Bitcoin. Satoshi: The guy who decided to found etc while playing WOW. Vitalik: about.me/vitalik_buterin Enjoying the price difference between exchanges. Arbitrage: Selling in a panic when you see a red candle. Panic Sell: People sells with a panic in FUD, the first group of sellers. Weak Hands: a limit order accumulation at a specific price. Price Wall: An example of a price wall A divergence / an update on blockchain. (may be irreversible, a hardfork — may be reversible, soft fork) Fork: A shitty coin. Shitcoin: A document which describes the project. Whitepaper: Someone puts orders in the orderbook. Makes liquidity. Maker: Someonedirectly buys or sell from the orders in the orderbook. Takes liquidity. Taker: Thanks for reading, I hope it was helpful. I’ll be updating this post and adding new words. And finally, you can follow me on Twitter -> @cryptorocket_
