Crypto Terms & Lingo: The COMPLETE OG's GUIDE!!
✊HODL✊
HODL stands for Hold On For Dear Life and it is one of the core philosophies of cryptocurrency investing. HODL means holding on to your crypto for the long term and paying no attention to the short-term price action. People who HODL are called HODLers, and some HODLers intend on holding on to their Bitcoin until a single BTC is worth millions of dollars.Other HODLers intend to HODL until cryptocurrency becomes the new financial standard, with BTC as the global store of value.
👀FOMO👀
FOMO stands for Fear Of Missing Out. In cryptocurrency, FOMO is what you feel when you see the price of a coin or token you don’t have pushing past new all-time highs. FOMO is technically a social anxiety which was identified over 25 years ago However, it wasn’t until 2004 that the FOMO was coined by venture capitalist and author Patrick J. McGinnis, who subsequently popularized it in an op-ed he published while studying at the Harvard Kennedy Business school.
😱 FUD 😱
FUD is the opposite of FOMO and stands for Fear, Uncertainty, and Doubt. In contrast to FOMO, FUD is not a social anxiety, but a propaganda tactic used exclusively in sales and marketing. People who spread FUD are referred to as FUDsters, or the corporate media. Although the concept of FUD has existed since the late 1600s, it became popular in marketing in the 1970s, especially after a prominent computer architect named Gene Amdahl left IBM to start his own software company in 1975
🎈Hopium🎈
Hopium is basically an addiction to false hopes. Hopium was first used by Zero Hedge author Tyler Durden in December 2010 in an article discussing Goldman Sach’s sudden change in forecast for the American economy from bearish to bullish
💩Shitcoin💩
According to Unhashed Podcast host Ruben Somsen , a shitcoin is a “coin that can be predicted to go to zero because of its flawed fundamentals”. Shitcoin was first used in November 2010 by Bitcointalk user gavin andresen who predicts that if “Bitcoin really takes off, I can see a lot of get rich quick imitators coming on the scene” and notes “shitcoin” as being one of these imitator coins
🤑DeFi Slang 🤑
Yield farming essentially involves a mix of borrowing, lending, and trading across multiple DeFi platforms to maximize the annual percentage yield or APY being earned on deposited cryptocurrency. People who yield farm are called yield farmers. DeFi degens are yield farmers and developers who chase yields at all costs. DeFi Degens are to DeFi what whales are to cryptocurrency trading. This means that they tend to set the trends and could make or break a DeFi project. A ‘rug pull’ is when a cryptocurrency project that launches on a decentralized exchange like Uniswap suddenly has the liquidity from its trading pair removed by the creator of the pool, i.e. the people behind the project.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
