Topic: Crypto Terms for Newbies (Read 143 times)
Thank you, a lot of newbies on this forum needed this information. I would add: Bounties - are simply jobs, tasks, or projects that have usually been created by coin developers, you will be paid if you complete them.
etherdelta
a crypto market site to sell tokens, buy tokens, and sell or buy coins. the step is enter your wallet account into etherdelta, I usually use MEW wallet account. then you can deposit, sell, and withdraw.
a crypto market site to sell tokens, buy tokens, and sell or buy coins. the step is enter your wallet account into etherdelta, I usually use MEW wallet account. then you can deposit, sell, and withdraw.
This is a good topic to me and for the new here. The stated above are very helpful to gain more knowledge to the newbie here aboutcrypto-world and I will send a link for the additional terms and its description. Please visit below link.
https://cryptominded.com/glossary-cryptocurrency-terms-need-know/
etherdelta
a crypto market site to sell tokens, buy tokens, and sell or buy coins. the step is enter your wallet account into etherdelta, I usually use MEW wallet account. then you can deposit, sell, and withdraw.
a crypto market site to sell tokens, buy tokens, and sell or buy coins. the step is enter your wallet account into etherdelta, I usually use MEW wallet account. then you can deposit, sell, and withdraw.
airdrop - the practice of distributing tokens by awarding them to someone who already holds another cryptocurrency. OmiseGO distributed 5% of its tokens like this to Ethereum holders.
Satoshi
This is the smallest unit of Bitcoin currency recorded on the blockchain. It is the smallest unit currently used for Bitcoin.
1 Satoshi = 0.00000001 BTC
i.e, it is one hundred millionth of a single Bitcoin
Most traders trade considering the Satoshi price, instead the dollar price of a coin.
Satoshi has been named in homage to the original creator of Bitcoin, Satoshi Nakamoto.
This is the smallest unit of Bitcoin currency recorded on the blockchain. It is the smallest unit currently used for Bitcoin.
1 Satoshi = 0.00000001 BTC
i.e, it is one hundred millionth of a single Bitcoin
Most traders trade considering the Satoshi price, instead the dollar price of a coin.
Satoshi has been named in homage to the original creator of Bitcoin, Satoshi Nakamoto.
Whale - is frequently used to describe the big money Bitcoin players that show their hand in the Bitcoin market
MEW - MyEtherWallet. A free site that can generate ethereum software wallets for you.
MEW - MyEtherWallet. A free site that can generate ethereum software wallets for you.
Bear/Bearish - Negative sentiment or downward price movement.
Bull/Bullish - Positive sentiment or upward price movement.
Dump - Downward price movements due to increase selling pressure by many.
Pump - Upward price movement.
Bull/Bullish - Positive sentiment or upward price movement.
Dump - Downward price movements due to increase selling pressure by many.
Pump - Upward price movement.
Blockchain - An open source and decentralized technology that allows assets to be traded p2p (peer to peer/person to person). It has a public ledger that is divided into blocks that records transactions and is maintained by nodes scattered across the world.
Coin - Has it's own blockchain (bitcoin, litecoin, monero, etc.)
Token - Built on a smart contract or infrastructure platform like ETH or NEO (omisego, Icon, Red Pulse, etc.)
Altcoin - Anything other than bitcoin
Mining - Discovering a block (increases the size of the blockchain) and being rewarded with that coin. This is usually done through solving increasingly difficult algorhythms or quantum math problems. To solve these, a high end computer is often needed.
Gas - A token that represents the amount of real world energy it takes to operate a system. You pay that to the miners by sending/using gas.
ICO - Initial Coin Offering. New companies (and sometimes old companies) use this as a way to raise money for their business. You can buy a token or coin from a company before it goes public and to exchanges for a discounted price.
TGE - Token Generation Event. Basically the same thing as an ICO but specifically for tokens instead of coins.
Smart Contract - A "contract" that can be set up on a platform (like eth) that has certain parameters preset. When those parameters are met, then the result is automatically generated. For example: Send eth to a contract address, automatically a percentage of that is calculated and a token is sent back to the senders address.
HODL - Don't buy or sell your coin/token. Hold it until you get huge profits. Awhile ago, a poster here on bitcointalk accidentally spelled hold, HODL, and it caught on.
Moon - The value/price of your altcoin shoots up astronomically.
Lambo - Basically becoming a millionare. Cash out your coins and buy a lamborghini.
FUD - Fear, uncertanity, doubt. When someone spreads news that can cause fear, uncertainty, or doubt in a project that causes the price to drop. Sometimes done intentionally, sometimes unintentionally.
FOMO - Fear of missing out. When someone is afraid that they will miss their chance to earn a lot of money and jumps into investing in a coin based off of hype.
Feel free to add any other ones and send me some merit if you found this post useful.
Coin - Has it's own blockchain (bitcoin, litecoin, monero, etc.)
Token - Built on a smart contract or infrastructure platform like ETH or NEO (omisego, Icon, Red Pulse, etc.)
Altcoin - Anything other than bitcoin
Mining - Discovering a block (increases the size of the blockchain) and being rewarded with that coin. This is usually done through solving increasingly difficult algorhythms or quantum math problems. To solve these, a high end computer is often needed.
Gas - A token that represents the amount of real world energy it takes to operate a system. You pay that to the miners by sending/using gas.
ICO - Initial Coin Offering. New companies (and sometimes old companies) use this as a way to raise money for their business. You can buy a token or coin from a company before it goes public and to exchanges for a discounted price.
TGE - Token Generation Event. Basically the same thing as an ICO but specifically for tokens instead of coins.
Smart Contract - A "contract" that can be set up on a platform (like eth) that has certain parameters preset. When those parameters are met, then the result is automatically generated. For example: Send eth to a contract address, automatically a percentage of that is calculated and a token is sent back to the senders address.
HODL - Don't buy or sell your coin/token. Hold it until you get huge profits. Awhile ago, a poster here on bitcointalk accidentally spelled hold, HODL, and it caught on.
Moon - The value/price of your altcoin shoots up astronomically.
Lambo - Basically becoming a millionare. Cash out your coins and buy a lamborghini.
FUD - Fear, uncertanity, doubt. When someone spreads news that can cause fear, uncertainty, or doubt in a project that causes the price to drop. Sometimes done intentionally, sometimes unintentionally.
FOMO - Fear of missing out. When someone is afraid that they will miss their chance to earn a lot of money and jumps into investing in a coin based off of hype.
Feel free to add any other ones and send me some merit if you found this post useful.
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