FOMO - fear of missing out: when a coin goes up and you are afraid you will miss the bull run so you buy at a high priceDCA - dollar cost averaging: investing a certain amount of money in certain coins every month, for example every month $200 ETH, $100 BTC, $50 ADAHODL - started as a typo of a famous guy on a bitcoinplatform, over te it took following meaning: hold on for dear life: mainly you don't sell even when it goes downTLDR - too long didn't read: exactly what it saysWP - white paper: paper where the company behind the cryptocoins explains their intentions mainlyPOW - proof of work: mining goes trough expensive gpu-mining. Meaning you use a shitload of graphic cards to minePOS- proof of stake: PoS is a mechanism that decides who gets to process a set of transactions. The likelihood that a miner gets chosen to process transactions (and reap the reward for it) is determined by the amount of coins they hold. I.e. in a PoS system, miners who have many coins have a greater mining power than those with few coins.FUD - fear, uncertainty, doubt: HODL your coins despite the FUD of the paperhands during crashesBTFD - Buy the Fucking Dip: you buy whenever there is a sale!DeFi - Decentralized finance: a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains (source: Wikipedia. Didn't know how to explain in less than 1000 words)SAFU - Secure asset fund for users: it's an emergency reserve to protect any invested asset. This is mostly used in case of a hack that resulted into users losing their assets... Watch, this is only till a certain amount and not every platform has this.DYOR - Do your own research: this is very important. There's nothing wrong with asking advice to friends but their advice is based on their opinion and therefore subjective. It might not be in line with your strategy so ALWAYS DYOR, no matter what they sayKYC - Know your client: obligated by law in many countries. When you make an account on a cryptoplatform you have to pass a process where you have to fill in certain data of yourself and scan your ID. This is the KYC.TA - technical analysisATH - All time high: the highest position the coin has ever beenAMA - ask me anythingDEX - Decentralized exchangeDD - due diligence: Make your decisions based on facts, if you'll just buy any asset because you have this feeling it will go up, FOMO will kick in the moment it goes down. If you bought based on facts (Always DYOR) that won't be the caseICO - initial coin offering: ICO trading platforms, investors receive unique cryptocurrency “tokens” in exchange for their monetary investment in the business.NFT - non-fungible token: a generally one of a kind digital asset that represents an object from the real world like videos, music, art, and so on. They are bought and sold with crypto on the blockchain.SYSC-Stop Yoloing Shit Coin ( this one is off the record but just too epic to forget)FIAT: Currencies which have been declared to be legal tender, backed by governments. ( Not an abbreviation but handy to know because you'll see it a lot)Paperhands: not an abbreviation but necessary to understand: someone who panic sells when there's a dip because of FUD.Diamond hands: the opposite of paperhands, people who can HODL, no matter what. completely FUD-proofBull market: market that is on the rise and where the conditions of the economy are generally favorable.Bear market: exists in an economy that is receding and where most stocks are declining in value. ... In such times, investors often have faith that the uptrend will continue over the long term.If I forgot any, please put them in the comments, i will add them. I know there are many more but please the ones you see passing by on this subredditEDIT: Thanks to all the people who helped me completing this list!!!
Submitted June 27, 2021 at 06:50AM
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