Hi guys,
I trust everyone is doing perfectly fine, as for me am ok. I want to appreciate @besticofinder for these exposure, he has really made my knowledge on crypto more allaborate.
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Digital currency bitcoin has seen a tumultuous ride in recent weeks, as the price fell to trade below $6,000 per coin in June, down from a high of over $19,000 last year. And, everyone from Warren Buffett to athletes and celebrities have weighed in on the future of cryptocurrencies.
With all the attention, jargon that was once just used for inside jokes in early cryptocurrency chat rooms and on Reddit threads has now become a part of the dialogue.
You may see bitcoin enthusiasts on Twitter say something like, "Don't listen to FUD, just HODL your bitcoin and head to the moon," and you'll hear similar lingo in CNBC's upcoming documentary, "Bitcoin: Boom or Bust," premiering Monday.
So what does that mean? To make sense of such crypto-slang, CNBC Make It asked Peter Saddington, a serial entrepreneur and early bitcoin investor who runs a bitcoin community called The Bitcoin Pub, to break it down. Saddington first purchased bitcoin in November 2011 when one coin only cost $2.52.
BAGHOLDER
Bagholder is a synonym for an investor who owns worthless stocks. Initially, the bagholder (investor) expected that the stock price would increase and make a profit. But the price plunges so low that it becomes worthless.
When the stock price gradually decreases, investors may sell the shares they own in order to limit their loss. Yet, some investors don't do it, believing that the decrease is temporary, and the price movement will change its direction. While waiting for this reverse, the stock price deeps down even further, and the investors end up losing a big portion or even the entire amount invested.
HODL
In early bitcoin forums, someone posted a message that spelled the word "hold" wrong, and readers interpreted it as an acronym "hold on for dear life," Saddington explains. "Now, it's become a meme of sorts, so that when the prices are highly volatile, bitcoin buyers say 'HODL!'" Saddington describes himself as "a long-term HODLER."
HODL is a term derived from a misspelling of "hold" that refers to buy-and-hold strategies in the context of bitcoin and other cryptocurrencies.
Understanding HODL
The term HODL (or hodl) originated in 2013 with a post to the bitcointalk forum. The price of bitcoin had surged from under $15 in January 2013 to a high of over $1,100 at the beginning of December 2013. In the 24 hours to 10:00 a.m. UTC, Dec. 18 – possibly in response to reports of a Chinese crackdown – the price of bitcoin fell 39%, from $716 to $438, according to CoinDesk's bitcoin price index.
STABLECOIN
A stablecoin is a new class of cryptocurrencies that attempts to offer price stability and are backed by a reserve asset. Stablecoins have gained traction as they attempt to offer the best of both worlds—the instant processing and security or privacy of payments of cryptocurrencies, and the volatility-free stable valuations of fiat currencies.
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TRADING PAIR
A trading pair is a function whereby you have two different currencies that can be traded between one another. When buying and selling a cryptocurrency, it is often swapped with local currency. For example, If you're looking to buy or sell Bitcoin with U.S. Dollar, the trading pair would be BTC to USD.
WHALE
Example: "There must be a whale behind this coin's movement."
"A whale is someone who owns a lot of cryptocurrency," Saddington says. "According to statistics and the addresses that you can find online — because bitcoin isn't truly anonymous; you can actually find the whales — these are the people who own a ton of bitcoin. We're talking about like hundreds of thousands of bitcoin or more."
If a "whale" sells a lot of their stake, it can cause the price of a cryptocurrency to dip by flooding supply, he explains.
PUMP and DUMP
Example: "This coin's chart looks like it was a pump and dump."
"Pump and dumpers are people who often say, 'Hey, let's all of us together pump this coin,' which means buy the coin, create the demand in the market, the coin will go up in value," Saddington says. Then, everyone "dumps" the coin and sells.
These schemes are often orchestrated through apps like Slack or Telegram, he adds, and advises curious chatroom readers to beware of such gimmicks. An investigation into "pump and dump" schemes by Business Insider found the practice to be an "open secret among many cryptocurrency traders."
FUD
Example: "If someone tells you bitcoin is a bubble, they just have FUD."
This one is simple, Saddington says. FUD means "fear, uncertainty and doubt." Bitcoin followers advise to HODL your coins despite the FUD of those outside the community.
SATS
Example: "How many sats are you buying at this price?"
"Sats" is short for "satoshis," a term derived from the first name of , Satoshi Nakamoto. It refers to the smallest fraction of a bitcoin that can be sent, which is 0.00000001 of a bitcoin. Instead of looking at bitcoin in terms of a dollar value, "real traders look at sats, or satoshis," says Saddington.
MOONING
Example: "Ripple is mooning!"
If something is "mooning," that means a coin's price is experiencing a spike. "That is often what you'll see on Twitter, or social media sites," he says. "That is one term that I don't enjoy."
Crypto-watchers will often get excited about minor bumps in price and boast that their coin is headed "to the moon," Saddington says, sometimes only in an effort to inflate the price for their own gain.
"I think mooning is one of those terms I'd like to remove from the general vernacular," he says.
doc is now available online (links & options are listed on our website) Here is the link to the landing page with the where to watch options and links!
ALTCOIN
An altcoin is a cryptocurrency, or virtual currency, alternative to Bitcoin. Each altcoin operates according to its own rules.
The term "altcoins" refers to all cryptocurrencies other than Bitcoin. As of early 2020, there were more than 5,000 cryptocurrencies by some estimates.
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