When Researching Bitcoin, don’t ask what HODL is:
The crypto-currency community tends to use social media and speak their own language, heavy on acronyms, slang terms, and hashtags. For the more seasoned individuals, getting in on the crypto game, here are some definitions of the terms you may see as you open the gate to the world of Crypto trading. It could save you some embarrassment in conversations with the youngsters and thirty somethings while also keeping you out of a — message-board war—
Bags: Cryptoassets being held,
Bitcoin Maximalists: The truest believers in bitcoin’s original mission and design, often paired with a disdain for altcoins.
#BTFD: “Buy the Fucking Dip.” Advice to other traders to pick up a coin that’s presumably hit its bottom. “
#DYOR: “Do Your Own Research.” The trader’s caveat that advice shouldn’t be taken at face value.
Exit Scam: Traditionally a term for darknet markets and vendors that, after building up a good reputation, accumulate bitcoins and disappear; exit scams are also feared by ICO participants who worry that, once they’ve raised hundreds of millions in hard-to-trace money, the developers will take the money and run.
Fiat: Government-issued money.
#FOMO: “Fear of Missing Out.” When a coin starts to moon, dumb money rushes in.
FUD: “Fear, Uncertainty, and Doubt.” Another non-crypto term that describes attempts to scare weak-handed coin-holders into selling their positions, often with rumors of exit scams or hacks; the cheap, dumped coins are then picked up by the FUD-ers.
Hodl: The intentionally misspelled word hodl has its roots in a December 2013 post on the Bitcoin Talk forum, “I AM HODLING”; when the author, GameKyuubi, couldn’t be bothered to fix his typo, the community instantly turned it into a verb: to hodl.
#Lambo: A humorous line among the traders, you’re cryptorich when you can buy a Lamborghini;
#Moon: A rapid price increase. also Moonshot
Pump: A rapid price increase believed to be the result of market manipulation, a.k.a. pump and dump.
#Rekt: Wrecked. “I never sell because of #FUD, and I never buy because of #FOMO. That’s the easiest way to get #Rekt”
Shitcoins: Pejorative term for altcoins, especially low-cap coins, often affectionately used by shitcoin hodlers.
Sats: Satoshis, currently the smallest unit of a single bitcoin, useful for tracking coin prices.
Whale: Anyone who owns 5 percent of any given coin, often used as a boogeyman to explain unwanted price movements. “