Group CryptoCurrenciesStarted by Dragon on 29.08.2017 Share experience, discuss risks and potential upside, recommend investment
Discussions in this group
I Start with Ripple (XRP) and Tron (TRX)
UsamaZ on 01.02.2018 at 18:23
If you’ve started reading up on crypto currencies (or digital currencies as they’re called), you might notice some peculiar terms being used by traders on online forums that, although mostly daily-use words, seem a bit out of place. After all, what’s with all the ‘whale-spotting’ talk during a during a digital currency discussion?
Well, worry no more, you can now claim your badge for talking like a professional crypto-trader by using the below terms:
HODL – probably the most popular term during a cryptocurrency crash (such as the one we’re facing now) and the subject of many memes, the term HODL actually was a misspelling (‘Hold’) by a bitcoin buyer on a discussion board. It now stands for Hang On for Dear Life.
Alt coins – simply means any coin that isn’t a bitcoin. Altcoins, such as Ethereum and Ripple, rose in popularity as people saw exponential increase in returns in comparison to bitcoin once bitcoin crossed the $5000 mark.
‘To the moon’ – words said in excitement and hope that a specific cryptocurrency shall see an exponential price rise (e.g. Ripple to the moon!).
Pump and Dump – the deliberate act of a group of investors buying a cryptocurrency in order to spark a buying spree, hike the price and sell when it peaks.
Bagholder – the investor who is left with an expensive rate cryptocurrency purchase at the peak of the aforementioned pump and dump activity.
Whale-spotting – a whale is a major investor who is capable of moving the market either ways in a particular cryptocurrency. ‘Whale’ spotting is the act of spotting such a movement e.g. a major block purchase.
#DYOR – stands for Do Your Own Research meaning you shouldn’t just follow any advice given on a website. Most traders use the hashtag when tweeting advice
FUD – means Fear, Uncertainty and Doubt; Such as what’s surrounding most coins these days with exchange hacks and regulatory fears.
Rekt: means wrecked. Which is what one expects to be if they give in to FUD.
So there it is. A list of crypto-currency trading terms that took a lot of time and money to learn. Can you think of more? Also would be very interested to learn any terms that are used by traders in the UAE market?
WajihaS on 02.11.2017 at 13:32
There's an amazing infographic explaining how a transaction using Bitcoin works via
Dragon on 29.08.2017 at 15:44
Market cap of traded cryptocurrencies passed $160 billion to set a new all-time high - it is an increase of 800% from the beginning of the year. https://coinmarketcap.com/
What is coming in the upcoming months - bullish or bearish market behaviour?