Cryptocurrency slang: English-language terms in simple words

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Cryptocurrency slang: English-language terms in simple words

We present to your attention a small collection of several English terms that are common in the cryptocurrency community, and that you may for some reason have not yet met.

ATH

An acronym for all time high. How many times have we heard about what the cost of bitcoin has set a new record? So much of what this acronym really has become necessary to save time.

Variability is one of the main characteristics of the current cryptocurrency market. Every day each of them can rise or fall by tens of percent. The market is developing, the digital currency is becoming popular in financial and government circles that new highs are inevitable.

FUDster

New Luddite. The one who spread the FUD regarding the cryptocurrency, and the FUD is fear (fear), uncertainty (uncertainty) and doubt (doubt).

FOMO

An acronym for fear of missing out syndrome, loss of profits. The ubiquitous social network contributed to the creation of this phenomenon, which was added to the Oxford English dictionary in 2013 and is a haunting phobia to miss an interesting event or good opportunity.

Social networks are responsible for what we are constantly aware of much happening around us, but because of time constraints are unable to be involved. This leads to anxiety, unique to the digital age, the sense of regret and fear of missing an interesting event, to gain new experience or material benefit. Feed latest news about the growth of bitcoin, which broke a new record (more on this can be read here).

HODL

No, it’s not an acronym. Not quite a typo. Once a bitcoin investor was going to write “hold” (“hold”) and instead, the emotions scored “I AM Hodling”. Here is a link to a thread on the forum Bitcointalk, which has become something legendary. Community liked the typo, and it was adopted as the official term. Hodl it can be used as a verb, and as an abbreviation (hold on for dear life), and as a hashtag on Twitter. In General, quietly sitting and not even think to sell their cryptocurrency.

Pump&dump

This phenomenon existed in the stock market long before crypto-currencies. The price of a certain cryptocurrency artificially increased (pump) due to fake news and advertising. When the maximum is reached the currency quickly sold (dump) P&D groups who have pre-purchased it in large quantity. The price of bitcoin drops sharply and the scammers make a profit. On the securities market, such activities are punishable by law. The cryptocurrency market is mostly unregulated, but some of the exchanges themselves have declared war on these groups.

Shilling

The process in which shill (shill) acts as a client. Often it’s the whole team, the purpose of which is to attract customers through advertising on social networks fraudulent tokens or cryptocurrency.

Whale

Just “kit”. “Whales” are called funds or individuals who own a huge number of bitcoins or other cryptocurrencies. This metaphor is associated not only with the size of the savings, but also with the ability of those entities to significantly influence the exchange rate of the currency that they hold.

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