What are the meanings of HODL, FUD, FOMO, and other slang ?
“My friend Joe was once a bagholder, but he succumbed to FOMO and purchased even more BTC. Now, he’s a substantial whale HODLing in anticipation of reaching the moon.”
If you’re new to Bitcoin and the cryptocurrency realm, we understand if the statement seemed perplexing—it was initially confusing for us too.
Setting jokes aside, it’s one thing to start buying and selling Bitcoin, but another to engage with a community that has developed an entire dictionary of slang. If you’re eager to join the conversation and become familiar with the terminology, there’s quite a bit to grasp. Fortunately, we’ve compiled a list of some of the most commonly used slang in the crypto space today.
FOMO (Fear of Missing Out): FOMO, or the fear of missing out, extends beyond everyday life and is particularly relevant in Bitcoin discussions. This term captures the urgency people feel to buy Bitcoin when it becomes a hot topic.
Shill: Shilling, although not exclusive to crypto, gained popularity in the space. It involves the promotion of a cryptocurrency for personal gain. Those engaging in shilling may be investors seeking to boost the price of a struggling cryptocurrency for their benefit.
FUD (Fear, Uncertainty, and Doubt): FUD is the dissemination of negative sentiments about Bitcoin, creating an atmosphere of fear, uncertainty, and doubt.
HODL: HODL, stemming from a typo of “hold,” is a widely used term. It emphasizes the strategy of holding onto Bitcoin despite price volatility, originating from a user’s misspelling and later turned into an acronym—hold on for dear life.
Going to the Moon, To the moon: This expression signifies the belief that Bitcoin’s price will experience a significant surge in the future, indicating confidence in a profitable return on investment.
Whale: A whale refers to an individual who owns a substantial amount, typically 5% or more, of a cryptocurrency’s total supply.
Pump and Dump: Pump and dump involves manipulating market sentiments by artificially inflating a cryptocurrency’s value through misleading information, followed by selling off all coins to cause a subsequent price drop.
Bagholder: A bagholder is someone holding a cryptocurrency that has sharply declined in value, akin to a hoarder saving even seemingly worthless assets for a hypothetical future benefit.
Sats (Satoshis): Sats represent the smallest unit of Bitcoin, with one satoshi equal to 0.00000001 BTC.
Vaporware: Vaporware denotes a cryptocurrency or software project that garners significant marketing and hype but never materializes.
Cryptosis: Cryptosis describes an insatiable thirst for cryptocurrency knowledge, manifesting in active participation in forums and discussions.
ICO (Initial Coin Offering): ICO mirrors the concept of an initial public offering in traditional finance, representing a cryptocurrency company’s fundraising project by offering tokens to investors.
Market Cap: Market cap, or market capitalization, reflects the total value of a specific cryptocurrency, calculated by multiplying its current price by circulating supply.
KYC (Know Your Customer): KYC involves the verification of a user’s identity, commonly implemented by cryptocurrency exchanges to comply with regulations and enhance marketplace security.
NFTs (Non-Fungible Tokens): NFTs are unique cryptographic assets with distinct identification codes, encompassing various forms like digital artwork, tweets, audio, etc.
Bullish/Bearish: Bullish denotes an upward market trend, while bearish signals a downward trend, concepts now integrated into cryptocurrency discussions.
Bear/Bearish: The negative movement of an asset’s price.
Buy the Dip (BTD): Buying the dip involves purchasing an asset after its price has dropped, with the belief that it will rise again.
Altcoin: Altcoin refers to every cryptocurrency except Bitcoin.
Cryptosis: Obsessiveness towards knowing more about cryptocurrencies and the market.
DeFi, Dapp, and Dex: DeFi, Dapp, and Dex stand for Decentralized Finance, Decentralized Applications, and Decentralized Exchange, respectively, representing blockchain-based financial systems and software.
Lambo: Lambo symbolizes wealth gained through crypto trading, reflecting the common association of Lamborghinis with affluence.
Moonboy: Moonboys are traders who assertively predict price changes and exhibit bullish sentiments.
No Coiner: No coiner is a term used disparagingly for individuals skeptical about cryptocurrency or those who do not own any.
POS (Proof of Stake): POS is a method to validate transactions or mine coins, where blocks are chosen based on the stake or wealth they represent. It’s considered more energy-efficient than POW.
POW (Proof of Work): POW involves verifying transactions through complex calculations to prevent network attacks. It consumes more power compared to POS.