Bitcoin, Cryptocurrency Slang ExplainedMattew Goldin
What Is Market Cap?
Software wallet — storage of cryptocurrency that exists as software files on your computer software wallets can be attained free from a variety of different sources. MyEtherWallet and Exodus are among a few of the popular choices. Shilling (AKA — pumping) — someone purposely and overtly advertising a cryptocurrency coin for their own personal gain because cryptocurrency lingo they have currently invested in it. Every node within a blockchain utilizes a complete copy of the blockchain. Sharding allows nodes to include partial copies of the entire blockchain in order to effectively increase the overall network performance and speed. Private key — a private number that allows you to open your cryptocurrency wallet.
Bitcoin Atm (btm)
Moon — optimistic term used when cryptocurrency is or about to increase in both price and volume. Mining — the process of where a computer is trying to solve the next block in a blockchain via cryptography. This process requires an immense amount of computer processing power, but is rewarded with ether . This is yet another term for greed, where you have the overwhelming emotional need to purchase a cryptocurrency when the price starts for has been skyrocketing. When a cryptocurrency breaks its current record with regard to price. As the world of cryptocurrencies is constantly changing and growing as well as the technology is evolving, there will continue new acronyms and slangs that would be added to the cryptocurrencies dictionary. Individuals and groups of people frequently use slang and acronyms to communicate ideas, concepts or descriptions quicker than with formal language.
- When a new block chain is created, this is known as a hard or a soft fork.
- Certain holders may dump their cryptocurrency into the market, causing prices to fall.
- All transactions through a cryptocurrency are conducted on a single block chain.
- In the BitClub Network case, the defendants offered investors shares in cryptocurrency mining pools.
- This makes other holders sell their currencies as well which further drives down the prices.
- Those who initially sold their currency can buy back the extra currency at lower prices to draw up the prices and make profits through extra coins or the difference between the selling and buying prices.
They probably won’t thank us for this, but here’s a glossary to help demystify what’s going on. If you suddenly found yourself in a chat group where Chinese investors buy and sell cryptocurrencies, chances are high that you’d get frustrated quickly, even if you can read the language. This includes Bitcoin,Ethereum,Litecoin,Zcash,Dash,Ripple cryptocurrency lingo XRP,Moneroand all other cryptos, whether you’d like to use a US-based exchange or foreign-based exchange. Self-directed retirement accounts–Checkbook IRAs,Checkbook 401k plans, Checkbook QRPs, Checkbook HSAs, and Checkbook DB Plans– can invest in all forms of virtual and digital currency.
What Is A Centralized Crypto Exchange (cex)?
Without this key, you’re screwed, so keep it in a safe place. Paper wallet — cryptocurrency wallet public cryptocurrency lingo and private keys held on a piece of paper. I recommend storing these in an extremely safe place.
Automated Market Maker An automated market maker is a system that provides liquidity to the exchange it operates in through automated trading. Attestation Ledger An attestation ledger is an account book designed to provide evidence of individual transactions. It is generally used to cryptocurrency lingo “attest” that a financial transaction took place, or to prove authenticity of transactions or products. Ask Price In any financial market, buyers and sellers place their orders to determine the highest price they are willing to buy and the lowest price they are willing to sell.
To make sense of such crypto-slang, CNBC Make It asked Peter Saddington, a serial entrepreneur and early bitcoin investor who runs a bitcoin cryptocurrency lingo community called The Bitcoin Pub, to break it down. Saddington first purchased bitcoin in November 2011 when one coin only cost $2.52.
Anti-Money Laundering A set of international laws enacted to curtail criminal organizations or individuals laundering money through cryptocurrencies into real-world cash. Airdrop A marketing campaign that distributes a specific cryptocurrency or token to an audience. ASIC Short for “Application Specific Integrated Circuit”; it is a mining equipment that is used specifically to mine a certain cryptocurrency. Often compared to GPUs, ASICs are specially created and bought for mining purposes and offer significant efficiency improvements and power savings due to its narrow use case. Lambo – when your little nest egg of bitcoin or other cryptocurrency reaches a value high enough to buy yourself a Lamborghini, you’ve reached Lambo wealth. HODL – this started out as a misspelling of the word “hold”. People thought it meant “Hold On for Dear Life”, but it simply means holding on to your cryptocurrency when prices are highly volatile.
Custody In The Age Of Digital Assets
Pointing also to financial crime, FCA Executive Director of Strategy & Competition Christopher Woolard said cryptoasset markets can lead to sudden and unexpected losses. 搬砖 (Bān zhuān) — “Moving bricks.” The slang term for arbitrage, the simultaneous buying and selling of the same asset in different markets in order to take advantage of different spreads offered by brokers. For example, cryptocurrency lingo arbitrage traders buy cryptos in open markets like Japan, and sell them at a premium in banned markets like China. Chinese crypto investors are still trading peer-to-peer on services like WeChat and encrypted apps like Telegram, and discussing tradeson online forums like 8btc.com. The jargon helps avoid further government intervention by obscuring their intentions from prying eyes.