I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless. 2FA
Two factor authentication. I highly advise that you use it. 51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network. Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example. Altcoin (alternative coin):
Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others. AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet. AML:
Defines Anti-Money Laundering laws**.** ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset. Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money. ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop. Bear trap:
A manipulation of a stock or commodity by investors. Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame. Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain. Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack. Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase. BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts. Bull market:
A market that Cryptos are going up. Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid. Crypto bubble:
The instability of cryptocurrencies in terms of price value Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement. Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent. Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos. DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention. Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power. Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system. Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins. DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts. Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network. Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time. DYOR:
Means do your own research. Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it. Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed. Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether. Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more. Faucet:
A website which gives away free cryptocurrencies. Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound. Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork. FOMO:
Fear of missing out. Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints. FUD:
Fear, Uncertainty and Doubt regarding the crypto market. Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum. Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”. Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.** Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed. Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions. HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life. ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past. John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims. JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy. KYC:
Know your customer(alternatively consumer). Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla. Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network. Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment. Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins. Margin trading:
The trading of assets or securities bought with borrowed money. Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply. Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards. Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware. Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors. Mining rig:
A computer specially designed for mining cryptocurrencies. Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon” Node:
Any computing device that connects to the blockchain network. Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone. OTC:
Over the counter. Trading is done directly between parties. P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server. Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets. Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public. Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency. PROOF OF WORK (POW)
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees. Protocol:
A standardized set of rules for formatting and processing data. Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key. Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame. Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase. REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry. Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type. ROI:
Return on investment. Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe." “the exchage I use got hacked!”“Oh no, are your funds safu?” “My coins better be safu!”
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto. Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin. Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain. Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds. Shitcoin:
Coin with little potential or future prospects. Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness. Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value. Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI. Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights. Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources. Solidity:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market. Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards. Surge:
When a crypto currency appreciates or goes up in price. Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing. Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) . Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality. TOR:
“The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”. Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies. Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it. Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history. Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market. Whitepaper:
A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition: Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
Honest question here...I see a lot of comments about Bitcoin going to the moon and about the lambos people will be driving eventually. What is this moon figure everyone is hoping it will hit? $100k? I currently own only 2 bitcoin and got in around $8k. At $100k bitcoin price that’s only $200k for me. Great return but I can’t buy a Lamborghini with that. Do most people just own way more coins than that or is there a higher price they are hoping for?? submitted by
Hey autists. I’m new to legacy markets, having only traded 100x crypto usd pairs to get my fill of degeneracy in the past. I recently started following the sub and realized there’s plenty of trendies to be made here too, but I’m wondering how to employ my favorite money making (losing) strategy from crypto, daisy chains, to the instruments of choice around here, the options. submitted by
What is a daisy chain?
Should be right down your autistic basements.
As you all may know, bitcoin is famous for having extreme volatility, moving several percent up and down seemingly out of no where.
Say I had an inclination bitcoin is about to pump from 7200 to 7800 in 5 minutes as it did the other day. I can full balance 100x long and take my 900% instant returns and be happy. But what if 900% in 300 seconds isn’t enough? What if you only have 1,200 Donnie dollars and you need a Lamborghini before your highschool reunion in the summer?
You plant the perfect daisy chain and all those riches can be yours. You start with a full balance $1,200 long of course from 7150 or so with a limit sell at 7300. That’s a about 200% so when It fills, you now have $3600. You then set a stop market buy to trigger at 7300.5 for $3,600, rolling up all the profits to catch the rest of the movement. So you repeat at 7400. Of course you won’t have enough money in your balance when you start to place a regular limit sell at 7400 for 3,600, but fortunately take profit limit stops exist. So you set a take profit stop limit to trigger around 7375 to open a limit sell at 7400 for 3,600, and you make a quick 150% or so to increase your balance to $8,000. So now you use a stop market buy at 7400.5 for $8,000
Your Daisy’s have only just started blooming kid. Rinse and repeat at every $100 increment and by 7800 at the end of the movement you would have... like... let’s see 20k at 7500, 50k at 7600, 125k at 7700, over $300,000 at the end at 7800. Congrats you turned your measly 1,200 check into a once in a lifetime chance to fuck the head of the cheerleading squad from 10 years ago.
But what if that still isn’t enough? You wanted real tendies not this sub $1,000,000 in 5 minutes bullshit.
Never fear, there is a super daisy chain for people who need a mansion with a 4 car garage to park their sports cars full of high school crushes in.
So you may have noticed in the original example we only caught the upward movement but as any trader knows who has witnessed price action, it shoots up and down in between. In the movement the other day, we went from 7,600 back to 7500 for a bit, and after 7800 we went back down the 7600, then up to 7700, then ended at 7500.
Never fear. At 7600 the first time, all you had to do was predict correctly that we would see some resistance there and set a take profit limit to open a short position the opposite way for 50k with a stop at around 7600.5. Then have a stop limit that triggers simultaneously with the opening of that to close your short back at 7500, and another take profit limit to relong at 7500 back to 7600 with your new balance of 125k. It may take some creative stop placement to insure none of these open early but it is possible if you call the tops and bottoms perfectly. And I know you’re just the autists to do it.
If you threw in these additional shorts to your daisy chain with a final chain from 7800 back down to 7500, at the end of the 5 minute movement you’d have like idk 2 billions dollars or so im done doing math I have tendies to make.
So the point of this post was how do I, a person with no experience whatsoever trading options, replicate this technology of daisy chaining for options so I can make a cool 2 billion in 5 minutes there too?
discliamer every time I have ever tried to do a super daisy chain I have rekt my entire account
[ Removed by reddit in response to a copyright notice. ] submitted by
[ Removed by reddit in response to a copyright notice. ] submitted by
Apart from BitCoin being exchanged and traded on crypto exchanges, where else is BitCoin being used in good enough volumes relative to what is traded on exchanges? submitted by
Have they found a good real world use yet apart from being traded and hoarded as an asset?
[ Removed by reddit in response to a copyright notice. ] submitted by
Career entrepreneur Peter Saddington bought a Lamborghini with part of his bitcoin holdings as the price exploded to a new all-time high in the first two weeks of October. And not only was he able to purchase the Lambo with bitcoin, he got away with only paying $115 for the supercar. Also Read: Humble Bundle Is Selling Popular Bitcoin Books for $1 Join the Bitsonline Telegram channel to get ... Bitcoin Millionaires Are Buying Lamborghinis as a Symbol of Crypto Wealth Duration: 01:11 4/2/2018 For some crypto millionaires, a Lamborghini is a symbol of crypto wealth. Thanks to an early interest in cryptocurrencies, buying those 45 bitcoin cost Saddington less than $115. The bitcoin enthusiast's Lamborghini purchase isn't just a crazy bargain. It reflects a ... Bitcoin millionaires are buying Lamborghinis as a status symbol of crypto wealth, and the carmaker says sales are rocketing. Melia Robinson . 2018-04-01T15:30:00Z The letter F. An envelope. It ... “Buying the Lambo with bitcoin is proof it can be used for real transactions, buying really cool stuff. It’s not only used by criminals.” T he car he bought was refurbished, and Saddington paid the seller directly in bitcoin. He paid the dealership a transaction fee of $7.95 and the sales tax in cash. Another lamborghini purchase comes from 2015, when realtor Piper Moretti’s company ...
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