Written By
Ted Stevenot
"Crypto" is a term used by members of the media, influencers, and others to describe the cryptocurrency ecosystem as a whole. Many bitcoiners, however, make a distinction between bitcoin and "crypto"—often using crypto to exclusively refer to altcoins.
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"DYOR" stands for "do your own research". DYOR is a disclaimer which encourages due-diligence and personal responsibility when making decisions about investing or saving for the future–especially in bitcoin and cryptocurrency.
FOMO means “fear of missing out”. It describes anxiety about missing a limited window of opportunity to participate in some positive event. In bitcoin, it usually refers to fear that, if you don’t take advantage of it now, you may miss out on the opportunity for a dramatic upswing in price.
"FUD" stands for "fear, uncertainty, and doubt". FUD refers to negative stories or commentary intended to promote fear and anxiety about the future of bitcoin. FUD is often spread by naysayers, altcoin supporters, or individuals wishing to acquire bitcoin less expensively.
HFSP stands for “have fun staying poor”. Bitcoin pioneer Adam Back once noted HFSP could be considered a “…shorter form of the gem Satoshi Nakamoto quote, ‘If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.’”
"HODL" is a misspelling of the word "hold". It was originally part of a viral message written on December 18, 2013 on the original bitcoin forum. The author, lamenting his inability as a short-term trader, stated "traders can only take your money if you sell."
Probably one of the more contentious terms on this list, “maxi” refers to a bitcoin maximalist, which most commonly refers to someone who only owns or supports bitcoin and not other cryptocurrencies.
There’s also a stricter definition: Someone who understands that the world is converging towards one form of money and that bitcoin has the optimal and most credible monetary policy of any currency that has ever existed.
NGMI means “not going to make it”. It's most often used to suggest a person is making a financial decision that will not turn out well for them. It’s also used to discount a news story or other commentary as foolish or indefensible in the face of criticism or logical counter-argument.
"Pleb" is short for plebeian. In ancient Rome, commoners, as opposed to wealthy ruling-class patricians, were called "plebeians". Historically, the plebeians fought with patricians for more rights and greater political influence in society.
"Rekt" is the phonetic spelling of the word "wrecked". As a cultural term, it can mean anything from losing badly in a sport or video game to being intoxicated. In bitcoin, it generally refers to loss of funds due to trading, over-leverage, altcoin investing, or other imprudent strategy.
A "whale" is someone who owns a large amount of bitcoin. The actions of whales are followed closely by observers due to whales' ability to impact liquidity and move market prices.