Realising the need of Crypto & Bitcoin slangs and also taking a look at the top 10 Crypto Slangs
The cryptocurrency community has experienced a lot of popularity recently due to the increase in the value of Bitcoin in the year 2017. The cryptocurrencies space has been expanding exponentially with thousands of cryptocurrencies along with the Initial Coin Offerings in the market. With the ever-increasing cryptocurrency community, a lot of cryptocurrencies slangs have been popping out of nowhere marking certain key events that happened in the cryptocurrency history. Slangs are generally a very informal language used mostly while speaking with one another. The usage of slang outside the group of people who don’t know it might be offensive to them or they might not understand it.
The cryptocurrency slangs are actively being used on various crypto forums. If these slangs are not understood by some, then they might miss out some key detail or might even feel that they are being ostracized. So lets us not stay behind and try to understand top 10 crypto slangs that are most popular.
The most popular cryptocurrency slang (Hodl your bitcoins) is used to refer to a situation wherein the investors hold on to their investments even when the bitcoin price falls off. The term was first coined on bitcointalk.org in 2013. It was basically a typo for hold. However, the typo could not be corrected and it goes viral all over the community.
This particular slang refers to a situation where the cryptocurrency user is experiencing some technical issues with the Bitcoin network. The most famous cryptocurrency exchange Mt. Gox is considered to be very difficult and complicated for the users to understand hence the term Goxxed was coined.
In the online gaming industry when one needs to represent that they are completely destroyed or ruined they use this slang. basically, it can be considered similar to wrecked. The term was used in the crypto space for the first time e in a Bitcoin forum when a user referred to a Bitcoin crash.
A shill is referred to a user who is paid to advertise or market a specific product on a number of TrollBoxes. A TrollBox is simply a chat box which is embedded into a number of cryptocurrency exchanges to have conversations. It can also refer to a person who posts informative Bitcoin Threads on various Bitcoin forums.
The term wale or bitcoin whales refers to investors with a huge amount of investments in the cryptocurrency space. Any transactions made by these investors will fluctuate the whole market price for that particular cryptocurrency by a large margin hence the term whale. The word is specifically originated from casinos.
This slang refers to a person who believes that the Bitcoin price is going to fall down or will be experiencing a bearish trend. This is easily relatable to the Wall Street market.
This slang refers to a situation where the Bitcoin market is experiencing continuous downfalls for a prolonged period of time.
This is exactly opposite to that of bear and is a person who believes that the Bitcoin price will go up and experience a bullish trend. A bull market is referred when the Bitcoin prices hit the roof for a prolonged period of time.
It is a situation when the market prices slightly increase and the investors start buying the cryptocurrency following which suddenly the market falls.
This is a person who holds the Altcoins for a very long duration of time and the currency loses all its value and the investor is left with nothing. The usually are the people who follow the pump and dump Altcoins schemes.
These were some of the most popular cryptocurrencies slangs used in the space. After knowing all these slangs, we hope that the new investors would not be giving others the opportunity to disregard them. Some of the other popular cryptocurrency slangs are Altcoins, To the moon, pump and dump, and shit coins.
In a nutshell, the Crypto space uses these slangs in order to simplify complicated explanations of certain situations. And it is also very necessary since the Bitcoin forums are one of the major influencers of the cryptocurrency market.