Learn the Crypto Slang – Part Three
When reading crypto articles, do you often come across slang expressions such as “DEX”, “DYOR”, or “FUD” that you might not completely understand? That won’t be a problem for you anymore!
Fumbi has prepared for you a five-week blog series with the most important abbreviations and terms from the world of crypto. It doesn’t matter whether you are a novice or a professional. The crypto world is rapidly evolving, so it’s essential to keep up with the slang used by the crypto community.
In part three, we prepared for you the following ten terms from the world of cryptocurrencies:
- Bitcoin maximalist – Bitcoin maximalist believes that bitcoin is the fundamental and only cryptocurrency needed in the future. Maximalists believe that alternative cryptocurrencies are not in keeping with the ideas set by the pseudo-anonymous Bitcoin founder Satoshi Nakamoto.
- No coiner – No coiner is a person that doesn’t own any cryptocurrencies because they believe that the crypto market value will drop and cryptocurrencies are doomed to fail.
- OS – If you come across the OS abbreviation in text, it probably means OpenSea, the largest decentralised marketplace focused on non-fungible tokens (NFT).
- Paper Hands – This term is very similar to the term Weak Hands. Paper hands generally describe somebody who sells their cryptoassets in panic. Such investors usually have low risk tolerance. They immediately sell their cryptoassets at the slightest sign of a value decline because of fear that the risk is too high.
- Pump & Dump – Pump & Dump is a manipulative investment technique where investors try to artificially increase the price of a cryptocurrency by spreading false, misleading and exaggerated information. Subjects that participate in disseminating such information usually already own the cryptocurrency and immediately begin to sell at the moment of growth for profit.
- P2E – P2E is short for “Play-to-Earn”. It is a business model that allows people to earn money by playing games on a blockchain or by providing other services in this gaming environment.
- Rug Pull – Rug pull is a situation when developers of a cryptocurrency project decide to abandon the project and run away with investors’ funds. This fraudulent manoeuvre is usually done through decentralised markets. Investors purchase the token of a new project, for example, with Ethereum. Then the token developers withdraw all liquidity from the fund, thus making it impossible to exchange it back for Ethereum, and the token becomes worthless.
- Shilling – When one or more people promote a particular cryptocurrency or an NFT project to draw attention to it. Such promotion is usually done in cooperation with influencers with a significant social presence. The goal of shilling is to create a marketing that will excite high interest and public demand for this asset.
- Soy Boy – Slang for an investor that doesn’t have the perseverance and can’t endure the high volatility of the cryptocurrency market.
- When Lambo – The crypto community is using this phrase humorously when the crypto holders ask when they will be so rich, they could afford to buy a new Lamborghini.
Do you want to improve and know all of the essential terms from the world of cryptocurrencies? Take a look at our Fumbi dictionary, where you’ll find many more terms and abbreviations.
In case you’ve missed our previous crypto slang articles, you can find them at the following links:
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