Cryptocurrency Slang Terms
Bitcoin Maxi? Hodl? Bullish? What do all these words mean!?
If you've been in the crypto space for more than a few minutes, there's no doubt you would've heard strange terms like 'hodl' or 'maxi'. Some of these terms come from one-off 'memeable' moments, and some are taken from traditional stock market language. Below is a list of terms and their definitions to help you understand content or posts you read online in relation to cryptocurrency.
The term 'hodl' originated on December 18, 2013, when a trader called 'GameKyuubi', who later admitted to have a couple of whiskeys, hence the typos, posted on a Bitcointalk forum:
I AM HODLING
And thus, the term 'hodl' was born. Soon to also be associated with the acronym "Hold On [for] Dear Life" too.
Yep, simple as that. Some slightly intoxicated individual misspelled 'hold' in a rant about Bitcoin.
Bitcoin Maxi or Maximalist
A Bitcoin Maximalist or 'maxi' is someone who strongly and almost exclusively supports Bitcoin and Bitcoin only. They usually believe that Bitcoin is the only cryptocurrency needed, and won't support other cryptocurrencies or 'altcoins'.
An altcoin or 'alt' is simply any cryptocurrency which isn't Bitcoin. Bitcoin is universally agreed to be the first cryptocurrency to receive wide adoption, therefore it's the first 'real' crypto coin. Some may argue that altcoin is an outdated term, as it throws Ethereum and Cardano into the same category as CumRocket... no offence CumRocket hodlers 😉
Saying 'when lambo' or 'when moon' is basically just saying when is this token gonna make me rich. A lambo or Lamborghini being a sign of extreme wealth.
Pump and dump
A 'pump and dump' is when a crypto token (usually newly created) has its value inflated (pumped) by the owners, or some Discord groups, buying up much of the supply so that others believe it's valuable.
Once other people have bought into the coin, the people who pumped the coin proceed to sell all at once when the price reaches a certain point (dump). People who innocently purchased the coin won't have enough time to sell, and don't have the insider information to if/when there's going to be dump. They are left holding the bag, a very worthless bag.
Bullish or Bearish
These terms come from the traditional stock market.
Bullish can be used as a feeling or an adjective. E.g. "I feel bullish about Bitcoin today", or "Bitcoin looking bullish". You are saying that you believe Bitcoin is about to see an increase in value, thus resembling the shape of a bull on a chart. A flat body, with its head rising above.
Bearish is feeling doubt or concern about the asset. E.g. "I feel bearish about Ethereum", "Eth looks bearish today". This would mean that Ethereum's price is decreasing, or preparing to decrease. The chart may start to resemble the shape of a bear, where their back is usually higher than their head, sloping downwards.
We will add more terms and definitions as time goes on, hopefully this has been educational! If you see anything incorrect or have questions, feel free to reach out on Twitter (@coinember_app)