It is that time again! Crypto-Lingo 102 at VolAir University. Check out the latest list of jargon we think you should know.
- Mining – The process of trying to figure out the next block in the blockchain. The way in which a transaction is verified on the public ledger, also known as the blockchain, it is the means in which a new coin is released. The process usually involves a compilation of previous transactions to try and solve the puzzle for the next block. Someone who is able to complete this usually wins a reward, which incentivizes people to continue to mine. It is almost as tricky as finding a wife on Tinder.
- Whale – A person who has entirely way too massive of an amount of one currency and can influence the market. Think of Scrooge McDuck diving into a pool of cryptocurrencies and controlling their volatility.
- Bull/Bullish – An investor who believes the price of their coin is going to increase. Positive sentiment about or increase in the price…. Raising the steaks.
- Bear/Bearish – An investor who believes the price of their coin is going to decrease. Negative sentiment about or decrease in the price. They are usually the bearer of bad news.
- Shilling – Is when people go on all the message boards and market themselves as having the coin equivalent to the return of Christ. Terrible humans.
- FUD – Fear, Uncertainty, and Doubt. FUD can be intentionally spread by someone to get the price of a specific coin to drop. Do not believe the FUD.
- Hodl – Hold On for Dear Life. Describes someone who purchases a coin and does not see themselves selling it in the foreseeable future is called a hodler of that coin. But as the old crypto wives’ tale goes…HODL actually came from a drunk guy on BitcoinTalk ranting about holding a coin. Back at the infant stages of bitcoin (2013), a drunk blogger went on a whiskey filled rant about hodling his BTC. It is quite comical and worth a read: I AM HODLING.
- ATH – All Time Height. The highest historical price of a specific coin. A coin that ran to the top of Mount Everest and chilled.
- Pump and Dump – The worst. It is where someone artificially inflates the price of a coin by buying huge volumes and then in the same click ‘dumps’ or sells the coin at a higher price. Seriously, the worst.
- DYOR – Do Your Own Research. Before participating in an ICO it is important to look up all the critical information about the project, such as team, Whitepaper and token allocation. Click the links to view ours.
This sums up week two of Crypto-Lingo. If you are looking for a crypto n00b friendly community on Reddit check us out: VolAir Reddit. We promise everyone is super nice and helpful. We would love to engage and connect with you.
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