Popular terms are very common in the world of digital currencies. If you are reading digital currency text for the first time without any background, you may come across phrases and expressions that you do not understand. To better understand this issue, just look at the digital currency associations or social networks of their fans. In these pages you will encounter a flood of unfamiliar terms that may not be easy to guess the meaning of the text. Of course, this is not limited to social networks, and such expressions can be seen even in news and articles published in official news agencies.
So it is clear that in order to better understand texts related to digital currencies, as well as to communicate effectively with members of their community, you need to know the meaning of these terms. In this matter to help an article Collected from the Casablog site, in addition Hoodle (Which is the most common term among digital currency users), Let’s look at 5 other slang terms in the world of digital currencies. Stay with us.
Hoodle; Spelling mistake that became a common term!
HODL or Hoodle One of the most widely used slang terms in the bitcoin community. Some people sometimes mistakenly say that HODL stands for “Hold on for Dear Life”. This acronym, though it sounds right, is a kind of distortion of history. The hoodle is actually the English hold that a bitcoin user mistakenly typed the letters l and d while writing because he was drunk.
At 10:03 a.m. one day in December 2013, an avid user of the Bitcointalk forum, GameKyuubi, posted a fiery but vague text on the forum that he admitted to being drunk while writing. This post was about a bad trading decision he made during the Bitcoin price fluctuations in December 2013.
This user wanted to say that from now on, regardless of market conditions and fluctuations, he intends to keep his bitcoins only and not think about selling them; But instead of “I AM HOLDING”, he wrote “I AM HODLING”. Within hours, his typo with various gifs and memes spread to all bitcoin-related social networks and introduced the term HODLing into the history of digital currencies.
Older Bitcoin fans have used the term to this day as a slogan of unity to remind the public to maintain their power even in the most volatile market conditions. As GameKyuubi wrote:
In a Game Total-Zero Likewise, traders can only acquire your assets when you sell them.
Five Common Digital Terms in the Field of Digital Currencies
Hoodle is just one of dozens of terms that every bitcoin investor should know. In the following, we will examine 5 common terms in the world of bitcoin and digital currencies.
FUD: Fear, uncertainty and doubt
FUD (abbreviation fear, uncertainty, doubt) Means Fear, uncertainty and doubt, Is a simple term and refers to the feelings that investors experience when the market is unstable; At a time when a flood of negative news is rampant and unpleasant moments are unfolding for the entire ecosystem of bitcoin and other digital currencies.
The advice of many digital currency experts is to keep your bitcoins in such times, despite the spread of fear, uncertainty and doubt.
Rekt or رکت of the English word Wrecked It means taken or destroyed. The term is used to refer to investors who have made a bad trade or, in general, somehow lost a large amount of their digital currencies.
For example, when an investor sells his bitcoins just before the sharp rise in price, he is said to have been corrupted by his early sale. The term is borrowed from the world of video games, and is often used to refer to situations in which a gamer experiences a bad loss.
Stacking Sats is the regular buying and collecting of bitcoins. Sats is derived from the word Satoshi, which in turn is derived from the little name of the legendary creator of Bitcoin, Satoshi Nakamoto.
Satoshi, or Sat, is the smallest unit of bitcoin that can be traded in an intra-chain transaction. One Satoshi is equal to 0.000000001 (one hundred million) bitcoins; This means that each bitcoin unit consists of 100 million Satoshi. The term Stacking Sats is commonly used to describe the practice of regularly collecting bitcoins, especially in smaller quantities (by purchase, extraction, or any other method).
To the moon: بهسوی ماه
When the price of bitcoin or other digital currencies rises sharply in a short period of time, investors often use the term to describe this uptrend. In other words, they say, this digital currency is moving “toward the moon.”
The term whale is used to describe a “Hudler” or large Bitcoin investor. Whales usually have a significant amount of bitcoins. Therefore, when a whale buys or sells bitcoins, the scope of its effects can be so severe that it can cause the price of bitcoins to rise or fall significantly.
In this article, we have tried to examine five important and basic slang terms in the world of digital currencies that every trader or investor should be aware of. Of course, the terms of the world of bitcoin and digital currencies are not limited to these five. The “Digital Currency” website has a full article entitled “Comprehensive Glossary of Official, Popular and Funny Digital Currency Terms” which includes more phrases and terms. However, here are five key pointers in moving forward with your knowledge of the digital currency community.
Today, Bitcoin is more popular than ever and the number of users of this digital currency is increasing day by day. If you are also “accumulating Satoshi” hoping to become a “whale”, if you have continued to “hoodle” your bitcoins and if you are waiting for the bitcoin price to move “towards the moon”, we hope this article has been useful for you. Assist you in reading educational articles or communicating with members of the bitcoin community.