Title: Crypto Terms for Newbies Post by: chocopapaya on April 14, 2018, 03:46:53 PM 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. Title: Re: Crypto Terms for Newbies Post by: tekinekan98 on April 14, 2018, 03:55:46 PM 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. Title: Re: Crypto Terms for Newbies Post by: swsonia on April 14, 2018, 04:19:40 PM 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. Title: Re: Crypto Terms for Newbies Post by: temilade200 on April 14, 2018, 04:21:53 PM 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. Title: Re: Crypto Terms for Newbies Post by: thefaucetrunner on April 14, 2018, 04:28:33 PM 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.
Title: Re: Crypto Terms for Newbies Post by: gowobonyok on April 15, 2018, 03:12:23 AM 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. Title: Re: Crypto Terms for Newbies Post by: Btcwashu on April 15, 2018, 03:37:42 AM 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. 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/ Title: Re: Crypto Terms for Newbies Post by: lovemsngr on April 19, 2018, 12:02:05 PM 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.
|