Quickly up to speed with all the definitions and terms in the cryptoworld?
Quickly up to speed with all the definitions and terms in the cryptoworld?
Besides Bitcoin, the very first cryptocurrency ever introduced, you also have an altcoin. All other crypto’s, besides Bitcoin that follow, are alternative coins or tokens, abbreviated altcoins. One of the first altcoins is litecoin forked from bitcoin. The idea behind litecoin is to make transactions faster by applying a larger block height and to make […]
A baghodler, the crypto variant on the bagholder, is an investor who has hodled his investment for too long and as a result stays with the worthless crypto ‘in his bag’. Baghodler also refers to the pump and dump scenes when a hodler hodl’s for too long and is stuck with his ‘worthless’ crypto. Like […]
A bear is a pessimistic entity that thinks or believes that the bitcoin or altcoin price is going to fall and wants to profit from this or wants to turn the market upside down. In a successful attempt, for example a large-scale sale, there is saying of a bearish reaction or a downward trend. This […]
It can happen that bullish signals occur in the chart. But that can also be a false signal or a ‘bear trap’. Investors who buy during these false bullish signals run the risk that the price will drop again and buy too expensive. These investors have fallen into the ‘trap’ during a bearish moment.
A bear + whale = BearWhale, a mysterious creature. This term really exists, only in the crypto world though, but it means that a big crypto wealthy person sells/dumps his/her crypto. If that person sells his crypto piece by piece it is less noticeable. However, in 2014 there was a named ‘BearWhale’ that started a […]
Futures, an English stock market term that entered the crypto world at the end of 2017 as bitcoin futures. Futures are tradable period contracts. A buyer and a seller make an agreement to trade for a certain and fixed price in the future. It obliges the buyer to purchase a certain quantity of goods from […]
A blockchain is a distributed ledger that records data in a series of linked blocks. The very first block in the series is the genesis block. Each block contains data, a hash and the previous hash and it is almost impossible to modify or manipulate that data. These blocks can store an ‘x’ number of […]
A bull is the opposite of a bear and is present in a period of rising prices or when it all goes ‘moon‘. The bull causing the green numbers can be one entity or a organisation buying large amounts of crypto. The start of a bull is characterized by pessimism and is also called a […]
A buy wall represents a large number of buy orders for crypto on a stock exchange, like Coinbase, which have been placed successively in a short period of time.
Start with cloud mining if you don’t feel like buying noisy GPU’s or ASIC’s and dealing with high energy costs? Buy your mining capacity at mining pools like Genesis Mining or Hashflare. For cloud mining or cloud hashing, you use the hardware from the provider’s data centers (miningfarms) to mine your desired crypto. It can […]
Central Processing Unit or processor, is the heart of the computer. In the early days of bitcoin it was possible to mine bitcoin in the computer with a simple CPU. Nowadays, due to the degree of difficulty of bitcoin’s cryptography, more computing power is needed than the CPU’s or GPU’s of computers can provide. As […]
Or cryptomoney, digital money, cryptotoken, cryptocoin, crypto… The terms and definitions are mixed up on the daily and make it confusing what stands for what. Crypto is a comprehensive term of the below definitions. It is often used to avoid detailed sentences. For example: “I trade crypto at Bitladon” or “which crypto did you buy?”. […]
A fad is a desired trend that is characterized by a lot of enthusiasm and energy over a short period of time. Examples are articles around the holidays, such as a Christmas tree with Christmas, fireworks on New Year’s Eve, etc. In crypto this can be a price increase of a coin or token, an […]
Fiduciary money, fiat currency, refers to currencies such as the Euro, Dollar, Yen, Roebel, etc. Fiat currency is money that does not derive its value from the matter from which it is made, but what bases its value on a legally based trust that it can be used to buy goods and services, also known […]
The flippening is a phenomenon when an altcoin dethrones the bitcoin from the #1 spot based on marketcap. There is speculation in the community that Ethereum has the ability to crown itself number one, but some say it’s Ripple. Time will tell!
‘Fear or Missing Out’ is a term used when mainly new investors start investing in crypto in the hype or only strike frequently during the peak. In December 2017 the price of bitcoin rose to a record high of $20.000,-. This was mainly due to the hype which caused in FOMO. Usually with the thought […]
A fork is a separation or branch of a chain with data or software. With crypto it is always about the blockchain that splits. At the moment of the fork, the running chain splits from the protocol and goes in a new parallel direction. This way a new blockchain is created with a new cryptocoin or […]
FUD is a abbreviation of Fear, Uncertainty and Doubt. A term used in marketing, IT and the investment world. Spreading FUD is usually done by (influential) persons or nocoiners who express themselves negatively towards crypto, for example bitcoin, to influence the price. An example of a person doing is Jamie Dimon, JPMorgan Chase’s CEO, who is […]
GPU stands for Graphic Processing Unit or simply a video card. A hardware component for a computer to display images. However, in the crypto world it is an important means for mining. With a videocard it is possible to solve cryptographic calculations faster than with the CPU of the computer. Due to increasing sales figures, […]
Probably one of the most used terms in the crypto world. It all started in a golden message on Bitcointalk. A misspelled word in the title, by a drunk bitcoin investor, where actually ‘Hold’ should have been mentioned. The term is meant to represent the ‘long and hold’ (long term) strategy when investing in crypto. Meanwhile […]
ICO stands for Initial Coin Offering. A crypto version of an initial public offering or an IPO. An initial coin offering is used to raise money for a project that needs capital to start, for further business operations or to innovate. Ethereum, EOS, among others altcoins, owes its foundation to an ICO. Unfortunately, there are many […]
KYC is an abbreviation for ‘know your customer’. The term is used for exchange platforms and brokers who (partly) have to be able to justify who and what customers buy and sell their products according to the regulations. With regard to crypto, which is mostly decentralized and unregulated, the government wants to prevent and counter […]
Marketcap is the abbreviation for market capitalization. It is a way of ranking crypto where bitcoin is of course number 1, for as long as it takes. The ranking is determined by the following calculation; market capitalization = price x circulating supply. The ranking is best displayed on: Coinmarketcap; the most widely used site and […]
Transactions on the blockchain must be verified. The verification is done when cryptographic calculations are solved. Solving these sums requires CPU or GPU processing power, a lot of processing power. Solving these sums is called mining. This type of consensus is called Proof of Work. The transaction with information such as how much crypto and […]
Mining becomes really attractive when large quantities of miners are bundled together in order to make the calculations faster and faster and to be the first to receive the reward. Bundling of hundreds to thousands of miners is called a miningfarm. In countries such as Iceland, where electricity is relatively cheap and the temperature does […]
A noicoiner is someone who doesn’t know anything about crypto, someone who doesn’t have crypto, nocoiner knows a number of definitions. Nocoiners often have the behavior of being pessimistic about bitcoin and altcoins, in general about crypto and often express themselves negatively in to the crypto world that prices will crash or other forms of […]
To gain trust in the community, developers offer their source code open for anyone who is interested. The code and information which is published are freely available to the public, allowing anyone to copy, modify, redistribute and/or redistribute them freely. In addition to gaining trust, you may also be asked to check the published code […]
‘Over the counter’ is a term that refers to transactions of buy and sell order that occur outside the ways of the stock exchanges, as Binance and Coinbase. Instead, the transaction takes place between two parties. The big advantage of this is that when large crypto numbers are sold via OTC it will not affect […]
There are many different definitions about what peer-to-peer or P2P is. In general it is a network where users can exchange files with each other. As such, each cryptocurrency uses a P2P network to exchange the coins and tokens. The most famous are of course bitcoin and the altcoin Peercoin. Besides the common exchanges, there […]
At the launch of a coin or token it is indicated what the maximum supply of crypto is. For bitcoin it’s 21 million. This doesn’t apply to crypto that don’t have a maximum supply. Developers can choose to keep a percentage of the supply as premine to reward miners for there effort or to keep a percentage of the […]
Pump and dump are activities in which someone invests heavily in barely traded crypto, drives up the price (pump) and gets out (dump) when some investors just get in by FOMO, after which the price collapses and many investors become baghodlers. If the dump takes place on one stock exchange, the figures are visible on […]
Rebranding is the development of a new name, logo, image, design, term or a combination of these. The aim is to create a new image towards investors, companies or interested parties. The reason to rebrand can be an intentional consequence of a desired strategic transformation or the consequence of external factors to eliminate the negative […]
This term comes from the gaming scene and is shortened from the English word ‘wrecked’. It means ruined, demolished, destroyed, or simply making a mistake. When the value of a crypto drops drastically, just after you invested heavily, you’re simply rekt!
Defined future plans that are presented with a focus on a manageable and well thought-out project planning. That is what a roadmap define! The developers and engineers of a crypto indicate what they work on and when what is launched. Examples of this are an update of the white paper, new or updated wallet, new […]
Satoshi, the first name of the pseudoanonymous developer of bitcoin, but that’s not all. It also defines the number of decimals of an amount of bitcoin. One Satoshi equals 0.00000001 BTC. The number of Satoshi makes it easier to define smaller numbers of BTC and other crypto’s. On the right an overview shows the decimals up […]
A sell wall represents a large number of sell orders for crypto on a stock exchange, which have been placed successively in a short period of time.
The sequel on the question ‘when moon?‘. When the moment is there, as with the bitcoin in December 2017 which reached an all time high of $20.000,-, there is a saying “to the moon!”. It is often claimed for profit to create enthusiasm with the hope that other investors will also buy the crypto. This […]
Volatile is a term that indicates that the crypto market can peak and fall within a short period of time. An increase or decrease of € 500,- of € 1.000,- within 24 hours is common and can be considered normal. It is the differences of abnormal proportions compared to the ‘balanced’ equity market. The crypto […]
A whale concerns a large bitcoin or altcoin wealthy party, company or individual who can influence the market. If the influence is positive, a rising trend follows either a bullish reaction, if it’s negative a downward trend follows or a bearish reaction. The perpetrator of the last indicated is then named after a mythical creature […]
A Lamborghini is the symbol as a luxury item when a crypto investor has earned a fortune from crypto. ‘When Lambo?’ refers to when the crypto investment profits that well to buy a Lamborghini from it. Want to know if you can go to the dealer? Calculate your ‘when Lambo?’ by clicking the logo:
When moon? The question every crypto investor asks himself. When does the value of a crypto reach a height as high as the moon? The goal of the question is to eventually make as much profit as possible, if the value of the crypto rises. ‘When moon?’ is often used on forums through memes.
A whitepaper from a crypto developer is a document that describes technical information about the blockchain, algorithm and nodes of the project in question. Some developers rename the whitepaper into a blackpaper or bluepaper such as Verge. Purely to differentiate. With new crypto a white paper also creates trust in the crypto community. It shows […]