Crypto-Dictionary – basic phrases used in the Cryptocurrency and Blockchain industries
ACCUMULATION – occurs with lateral trend, when the price moves in a narrow channel, it means indecision of investors. As a rule, after the accumulation phase, there are substantial increases.
ALTCOIN / ALT – All cryptocurrencies except Bitcoin.
API – application programming interface. A set of rules and their definitions that allows different programs to communicate with each other.
ARBITRATION – On the A stock exchange, the cryptocurrency has a 1k Sat exchange rate, while on the B exchange has a 2k Sat exchange rate. I buy cheaper on the A exchange and immediately sell on the B exchange.
ATH (All Time High) – the highest price that took place. New price peak.
ATL (All Time Low) – the lowest value he has ever scored.
BAGHOLDER – a person who holds coins in the long run despite drastic price drops.
BEAR / BEARISH – The coin is “bearish” or the entire bear market when the trend is down.
BEAR TRAP – A false signal of a trend change from upward to downward followed by further increases.
BLOCKCHAIN - it is a distributed data register or a distributed general ledger. It consists of blocks that are filled with information, e.g. regarding transactions. The blocks are connecting to each other and form an integral whole.
BOTS – Automatic programs, usually using the API of other applications. Thanks to them you can get such functionalities as automatic trading on the stock exchange or customer service in the designated scope.
BREAKDOWN – breaking the price through the nearest support.
BREAKOUT – breaking the price through the nearest resistance.
BTFD (buy the fuc**** deep) – buy it down, said bluntly.
BULLISH – The coin is “bullish” or the entire bull market when the trend is up.
BULL TRAP – False signal of a trend change from downward to upward, followed by further declines.
BUY ORDER – order to buy coins at a specified rate.
C&H (cap & handle) – the formation of a cup with an ear that can be a sign of height.
CEO / President – chief executive officer.
CFO / Treasurer – Chief financial officer.
CIO – chief information officer.
CMO – chief marketing officer.
COO – chief operating officer.
CORE – core, main element. The “core team member” is, in turn, the “key team member”.
CTO – chief technology officer.
DAO – decentralized autonomous organization, or decentralized autonomous organization. It is an organization or enterprise where all management is done electronically using a predetermined code or by voting by members. It is also a system of hard-coded principles using smart contracts that define the scope of the organization’s activities.
dAPP / dAPPs – Decentralized applications are very similar to applications that can be currently downloaded on Google Play or the AppStore. In theory, they should be based on a public blockchain network (i.e. anyone can join it and create their own node), which has open source code and is decentralized. In addition, it is free from interference by the central control body and censorship. As a rule, these applications are multi-layered, for example, they have a transactional, social and network management layer, where its members can vote on the further development of the project.
DAYTRADING – Many small transactions throughout the day, buying and selling with a maximum profit of several percent.
DB – double bottom, a formation that can indicate growth.
DDOS ATTACK (access denied) disrupts server operation by preventing users from connecting to it from the internet.
DEVELOPER / DEV – Developers, programmers involved in the project.
DILDO – very long candles red (decreases) or green (increases), indicating sudden and high percentage price movements.
DT – double top, a formation that could indicate further declines.
DUMP / DUMPING– coin sales / exchange rate down.
DYOR – do your own research, i.e. learn something on your own
ERC20 – a standard of tokens issued on the Ethereum platform. Thanks to the unified token standard, ALL ERC20 tokens you can store on the same wallet address, as long as it is compatible with the given standard, e.g. MEW.
FA – fundamental analysis, a set of all elements affecting the exchange rate not strictly related to charts on the stock exchange.
FEE – commission / fee
FIAT – currencies such as Euro, Dollar or Polish Zloty. Fiat money, that is, the currency used in a given area as a legal tender that has no real coverage in tangible goods (e.g. gold). Its issuer is the central bank of the state, which also controls the amount of money on the market. It serves mainly as a legal tender in a given area (e.g. in the territory of the state) and as a form of satisfying the demand generated by state instruments, e.g. taxes.
FLASHCRASH – a rapid drop in price to a very low ceiling, often used to capture stop-losses.
FOMO – Fear of Missing Out – fear that we will miss something (e.g. buying coins at an extremely attractive price). Investors often experience this feeling when a coin grows in a short period of time. By surrendering to FOMO we can, under the influence of emotions, buy on the hill and become Bagholders or finally sell at a loss.
FORK – fork occurs when a single block chain is split into two. This can occur for several reasons, which are described here: LINK
FUD – Fear, Uncerinetly, Doubt, or fear, uncertainty, doubt, usually as a result of unfavorable news or other events of fundamental importance.
HARD FORK – is a software update that is not compatible with previous versions and requires the download of a new version of the client “core”. OR as a result of disagreement among communities, which leads to the division of the chain and the community into 2 groups.
ICO – Initial Coin Offering, i.e. the coin’s initial public offering, often compared to the IPO (company’s initial public offering) for financing companies / start-ups debuting on the crypto / blockchain market. Instead of shares, investors can buy tokens of that company.
ITO – Initial Token Offering, formally it is the correct name that 99% ICO should use, because during their initial public offering, they usually offer tokens rather than cryptocurrencies.
PRIVATE KEY – a random string of characters and numbers used to unlock access to your wallet – only you should know it.
PUBLIC KEY – a public address for sending and receiving cryptocurrencies – anyone can know it.
KYC – know your customer, i.e. meet your customer. The procedure used by, among others ICOs and exchanges to verify users.
LIMIT-BUY – on exchanges, we set the price at which we intend to buy a given coin.
LIMIT-SELL – on exchanges, we set the price at which we intend to sell a given coin.
LONG – a game focused on growth.
LONG-TERM – long-term position, with a focus on growth over a period of several months / several or even several years.
MA – moving average. Average price from some periods. If we have an average of 20MA, it means that the average shows for the moment the average closing price from the last 20 candles.
MAINNET – the main blockchain network on which transfers of a certain economic value take place.
MASTERNODE / MN – node enriching the network with new functionalities.
MCAP / MARKETCAP – market capitalization, i.e. the total value of all coins of a given cryptocurrency / token = total coin supply * number of coins.
MID-TERM – medium-term position, with a focus on increases over a period of several weeks.
MINING – the process of producing new blocks in a blockchain using the PoW algorithm, for which diggers get block reward.
MOON – a massive shot towards the north. Continuous and dynamic rate increase.
NEP5 – a standard of tokens issued on the NEO platform. ALL NEP5 tokens you can store on the same wallet address, as long as it is compatible with the given standard, e.g. NEON.
OPEN SOURCE – open source or open source code, refers to projects whose source code is public and anyone can view it, e.g. to check for errors.
PoS – proof of stake – digging based on the weight of coins in the wallet (number of coins + stake time = prize amount).
PoW – proof of work, i.e. the original consensus algorithm of the blockchain network, it is used to confirm transactions and create and confirm new blocks in the chain. The computer’s computing power is used for the copy.
PUMP – up (usually soaring) prices up.
PUMP & DUMP – artificial price manipulation. Popular among whales / groups that first dynamically buy coins, which looks like a breakout on the chart, however, after inflating the price to the appropriate level, they immediately realize profits, leaving those who bought under the influence of FOMO on the hill.
REBRANDING – Change of company image.
REKT – a large decrease in the value of a coin.
ROADMAP – steps / path of project development.
RSI – relative strength index. The oscillator used in TA to determine the strength of the trend.
SATOSHI / SAT – Smallest decimal part BTC, 1 Satoshi = 0.00000001 BTC.
SDK – software development kit, which is a set of tools for programmers necessary to create applications that use a given library.
SEC – United States Securities and Exchange Commission.
SELL ORDER – an order to sell coins at a specified exchange rate.
SHITCOIN – a coin with no value or practical use. Made for a joke. E.g. Fuckcoin / Titscoin / Asscoin / PutinCoin ShrekCoin etc
SHORT – a game focused on declines.
SHORT-TERM – short-term position, with a focus on increases in the perspective of several days / several weeks.
SMART CONTRACT – smart contracts are self-performing activities, for example sale or purchase of cryptocurrencies, when they occur when certain conditions specified in the contract are met, e.g. a specific price or a specified period. Contracts automatically perform what has been saved in them, after starting the contract it can be terminated only if certain conditions are met, e.g. a certain time has elapsed. Hence the saying “code is the law”.
STAKING – the process of producing new blocks in a blockchain using the PoS algorithm, for which diggers get block reward.
SWING – more price movement in the channel.
TA – technical analysis. To determine the direction of the course we take into account the graph and tools such as indicators, plotting the trend / resistance lines and supports, etc.
TBA – to be announced (in relation to the event / information)
TESTNET – this is an alternative blockchain network for testing (e.g. Before we introduce updates in the main blockchain we check if everything works properly on testnet). The crypto used during testnet is worthless, so you can test new functionalities in a secure environment without the risk of losing real crypto-valued ones.
TL – trend line.
TOKEN – a coin that is an asset or has some application, e.g. only with it you can buy services on some platform. It is built on a blockchain of another cryptocurrency. E.g. ERC20 tokens on the Ethereum blockchain.
TP – take profit, i.e. the level of profit taking.
VOLUME – volume or total turnover of assets or securities on the stock exchange in a given time period. E.g. 24h volume is the total turnover over a period of 24 hours.
WEAK HANDS – literally ‘weak hands’ is about people with weak nerves who sell at a loss or when they see some red on the market.
WHALE – A very wealthy entrepreneur / investor.
WHITEPAPER / WP – business plan (more like an investment teaser) presenting the whole ideas and details of its implementation. As a rule, prepared in a more marketing way
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