"FUD" "HODL" and other crypto-slangs which you come across every now and then
Jan 27, 2018 Posted / 2129 Views
So, if you are new to the world of cryptocurrencies, you will need some time to deeply study what the technology and the virtual currency space wholly consists off. It may take you some time to grasp what all is happening. But with celebrities jumping in and many well-known faces one or the other day giving their viewpoints on the cryptocurrencies, you are sure to hear a lot and intake a great deal of information.
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Recently, every walk of person gave their ideas about cryptos from celebrities like Jamie Foxx to billionaire investor like Warren Buffett, everybody had one or the other view on the dominance of Bitcoins and other cryptocurrencies. The growing popularity has also led to developing of some jargons and slangs. These slangs which were sometime back just inside jokes of Reddit threads and cryptocurrency forums have now totally become a part of the dialogue and you will find mainstream media using it in their headlines and stories.
The social media has played a significant role in the widespread use of these slangs and you will often find bitcoin enthusiasts using terms like FUD or HODL. As recently, the market went through a dip, the lovers had their way of showing their affection towards their favourite currency. If you will open Twitter these days, you will see tweets like
"Don't listen to FUD, just HODL your bitcoin and head to the moon."
Clearly, all the newcomers are confused and don't get these slangs. In this article, we will explain some of the majorly used crypto-slangs which you are sure to come across every now and then, so it makes sense to you.
So, in some early days, someone on the bitcoin forum misspelt "hold" and wrote it as "hodl" and the readers thought it was an acronym "hold on for dear life". So the message actually called for holding onto your Bitcoins as the prices will increase in future. Nonetheless, this spelling error became a sort of meme and now when there is volatility in the market and prices drop, bitcoin lovers say '"HODL!" and if you are one believing in keeping them, you are called as "HODLER"
Now, this particular acronym has been used quite a lot lately. FUD simply means "fear, uncertainty and doubt." Many times cryptocurrency enthusiasts would say that you should not believe in FUD, which means any rumours that say that bitcoin is a bubble or virtual currencies have no future and even the recent South Korean threats of shutting down digital currency exchanges, nobody should believe in that. Bitcoin followers may advise you to HODL your coins despite the FUD of those outside the community.
You may hear this"How many sats are you buying at this price?". "Sats" is actually short for "satoshis," a term derived from the first name of bitcoin's mysterious creator, 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, regular traders look at sats or satoshis.
A whale is said as someone who owns a lot of cryptocurrencies. According to statistics and the addresses that you can find the whales online. These are told to be people who own a ton of bitcoin 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.
"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. Then, everyone "dumps" the coin and sells. These schemes are often orchestrated through apps like Slack or Telegram and curious chatroom readers should be 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."
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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