I am going to go over common terminology for CryptoCurrencies & Blockchain words that are used daily by traders and Blockchain enthusiasts.
Address: This is a unique address given to you when you create your wallet. It can be used to send and receive payments & hold funds.
Bitcoin: Is the first decentralized open source CrpytoCurrency that uses p2p networks to facilitate transactions.
Block Explorer: Is a tool used to track transactions on a public Blockchain. It gives you a representation to what process your transaction is in.
Block Reward: When you have mined a block you will receive the new coins and fees involved in transactions.
Central ledger: Is a system where a controlling party has control over the Ledger/Blockchain
Confirmation: When a transaction has been hashed and is on the Blockchain.
DAPP: Is a decentralized application that has an open source code and has its data stored on a Blockchain
Hard Fork: Is when a system splits into a different branch creating a new currency.
Mining: Is when you validate Blockchain transactions using code to beat the cryptography puzzle.
Node: Is a operated section of a given Blockchain network run by anyone with the capability to run it.
Peer To Peer: is when an interaction between two people or more gets put into a network.
Private key: is a unique worded code that can give you access too the coins/tokens in a specific wallet
Proof of stake: Is a consensus distribution algorithm that rewards earning based on the coins you have. If you invest more in a coin the more you gain.
Proof of work: Is a consensus distribution algorithm that requires mining to generate the coins the more work that is put into the process the more rewards.
Wallet: Is a computer file that has private keys and can allow you to make withdrawals and deposits on the block chain
Short: You believe the price will go down.
Long: You believe the prices will go up.
HODL: Hold onto dear life, Long term traders use this term to say they are holding their bags and will not sell no matter what.
FUD: Fear uncertainty and doubt.
FOMO: Fear of missing out.
Fiat: Government issued currency.
Bullish: An expectation that price is going to increase.
Bearish: An expectation that price is going to decrease.
ATH: All time high.
ALT Coin= Generally any CrpytoCurrency other than Bitcoin or Ethereum.
Tokens= Refers to the projects built on the Ethereum network that have raised money via issuing their own tokens.
ICO= Initial Coin Offering, similar to an IPO in the Stock Markets. Startups issue their own token in exchange for ether. This is essentially crowdfunding on the Ethereum platform.
Market Cap= The total value held in a CrpytoCurrency. It is calculated by multiplying the total supply of coins by the current price of an individual unit. This site shows a great run-down of each coin’s market cap
Ask price: Selling price
Bid Price: Asking price
Bagholder: Is an investor who holds the coins no matter what the prices does believing in that theory that over time there investment will be worthwhile.
BTD: Buy the dip
Day Trading : Making a profit by achieving short term goals and trades.
Margin Trading: Using borrowed funds to make more money and percent on trades, it also comes with a lot of risk.
Liquidation price: Is the price your contract stares that will close your position margin position automatically.
Portfolio Collection of coins or assets you’ve invested in.
ROI: Return on Investment
Shill: Telling others how amazing a product is even if its not it the investors best interest.
Shitcoin: A coin with no value as long as the prices goes up in a bull run most investors are happy with this.
Signals– Telling someone when they should buy
TA: Technical Analysis
Troll Box : Group chat that is on an exchange where people shill and spread FUD & FOMO
Weak Hands– Panic seller
Volatility- Price change.
Follow me on Twitter if you want to see more:
Bully Pit Crypto
My Medium Page:
Whale Reports 🐋 Contributor