Cryprocurrency

The Language of Crypto Traders

Shiba inu, the latest most popular crypto coin created in August 2020

Crypto currencies, especially bitcoins and ethereum, have been in many people‚Äôs minds. The prices of bitcoin has been on fluctuating widely. This phenomenon is logical. The more people want something, the more value you can attach to it. It is supply and demand, which is the oldest rule in thew economics textbook. But when everyone wants something because some people on Reddit say they want it, that is when you get the sort of price fluctuations that would make a Venezuelan finance minister smiles widely.  

Crypto currency operates through a decentralized peer-to-peer transaction, a way for people to lend, borrow and spend without using traditional banks or money, up the revolution, boo the central banks and al that.

The idea that any old former Microsoft/Google/Apple employees or other IT geeks can just invent their own digital money and convince other people to buy it is rather baffling.  As of last month, it is reported there were more than 4,000 cryptocurrencies, each with their own fan clubs promising high returns.       

New cryptocurrencies or tokens such as dogecoin and Siba inu token are attracting the attention of crypto  traders. The crypto traders have developed their own language. Among the popular terms are:

HOMO

Fer of missing out.

FUD

Fear, uncertainty and doubt

HODL

Hold on for dear life

ALTCOIN

Any crypto coin that is not bitcoin

TO THE MOON

As in, we are going to be millionaires. When a coin rises sharply, it is said to be mooning.

STABLE CPIN

Theoretically less volatile coin tied to something tangible such as the US dollar.

Whale

An investor with enough crypto to manipulate the price with large transactions.