Bitcoin Forum

Good day my Pipo, I see interesting article from the Altcoinstalks forum and I go also like to share am here with us because many of us no kno some abbreviation for the crypto space.
Before I being I go like deliberate on the reason why this abbreviation dey important and go help many (mostly the newbies way dey the crypto space from this our local board).

Like before I join the forum I no sabi anything about the crypto space, I mostly think say Bitcoin (crypto currency) nah all about trading and I also think say nah get rich quick scheme. But along the line after I join the forum I con understand few things about the crypto currencies, but I never reach know the technical things about bitcoin till now.

Actually, from the start I dey dey confused when I see some abbreviation about crypto currency for Pipo discussion, sometimes I dey go as far as to browse the meaning of the Abbreviations and from there I con take the learn small small i.e ATH, HODL, FOMO and other few ones.
So, I also believe say many other pipo go also dey confused when them see any of this abbreviation for the forum.

So below nah the ones I see for the other forum, incase you know any other ones you dey free to add yours because e go help a lot newbies for the local board.  Although, I tried to search if this discussion dey this board but I no see. But if e dey I go lock am.

Thank you for sharing.
Although had came across an article in this forum that mostly carries lot of cryptocurrency abbreviation and even some trading terminologies which could help a beginner or a newbie trader to understand those words when using them in the forum or in any other places. I must say these words are worth knowing to guide everyone who aren't that familiar with the crypto related words and abbreviations.

Actually, the word HODL means "Hold On for Dear Life".

Another abbreviation we see more often on this space, though not directly related to crypto is IMO which means "In My Opinion and IMHO which means "In My Honest Opinion" we see these abbreviations all the around the forum and for those that might be wondering what they meant. Now you do. Thanks to you too OP for taking out time to bring these abbreviations to our knowledge too.

In addition to few abbreviation the OP shared. I go like drop the link to other crypto abbreviation discussed for this forum for us to know about cos crypto abbreviation plenty. Em better make know of them

https://bitcointalk.org/index.php?topic=126798.0

https://bitcointalk.org/index.php?topic=3321001.0

https://bitcointalk.org/index.php?topic=2905959.0

Read the link shared above so that you go know other crypto terminology and meaning

Not sure we have such list in the local board because I haven't seen one. This could help as stepping stones for newbies to learn a few things to help them cope with certain discussions where they meet these terms.

Here's a  broader thread in the general board with a wider range of terminologies for those newbies who love to read.
https://bitcointalk.org/index.php?topic=126798.msg1346100#msg1346100

other common abbreviation as used on the forum are.
OP= Original Poster/Post.
DT= Default Trusted
PoS= Proof Of Stake

by constantly engaging in forum activities, it becomes easier to know a lot of things without doing too much research most especially as a newbie.

for newbies especially, one easy way of learning too fast is to search up every word or abbreviation you are not familiar with the moment you come across it, that way, you can easily know it and subsequently apply it when there is a need to.

I have seen a lot of argument on the concept of HODL meaning "hold on to dear life" with a lot of people having the opinion that it is not best that it be looked at that way from a literal point of view since it will somehow suggest that the holder of such asset is always going to hold it and never sell it at all. critically analyzing such thought process, there is a lot of sense in it because every holder is holding temporary pending the time when he will eventually sell off his holding. but then, either the usage of HODL is just a short form of HOLD or an abbreviation of "hold on to dear life", the main idea is that you are holding not to sell in the short run.

When you tell someone "fuck you" would you also arguably wrong to tell someone fuck you simply because you're considering it from a literary perspective, that the person is literally gonna screw himself? Those are just terminologies, the literal point of view shouldn't really matter that much, what matters is that you're passing a message across right? Everyone is indeed entitled to their own very personal opinion on any subject matters but trying to use your own personal opinion to influence something that has already been or understood to be is just somewhat inappropriate IMHO.

But do you actually know that we can still Hold On for Dear Life?
Do you know that there are early investors that have been Holding bitcoin for a long time, what they only do is to take profits and not sell off all the bitcoins in their portfolio and it will even be a very wrong approach to consider selling off all your bitcoins at a go without holding part of it your custody, therefore the part you left is the HODL. My concept may be funny but that is what it is because you can't tell me that as a bitcoiner, you will sell all your bitcoins one day and never own bitcoin anymore in your custody.

Most definitely...
I don't see anyone who can't actually Hold on for Dear life as a true Bitcoin investor. The actual goal of a true Bitcoin investor isn't to accumulate Bitcoin to a certain point and then liquidate all your Holdings, rather to reach or attain an overaccumulation status l, where you can actually live off of your Bitcoin stash. Bitcoin investment/accumulation has outgrown the stage of only expecting to take quick profits but to have financial security, leave a generational wealth and achieve your long term financial goals.

I know a lot of people usually ask what then is the purpose of investing when you can't spend from your investment, you can actually choose to take out some profits (after reaching an overaccumulation status) to diversify to other investments too. What more could you possibly need to liquidate your Bitcoin stash for when you already have your emergency, float and other backup up funds to take care of future expenses and emergencies? Except you're just trader and seeking after quick profits.

Let us not go back to this argument again. I have said this several times before now, every investment has timeline that was set from the very beginning. If I reach my target I can sell if I want to. The problem is really not about selling and taking profit, it becomes a problem when you are completely out of the market (sold everything).

What is the essence of investing when you hold onto it till the day you die. If your reasons for investing is not for passing down to your heir, I dont see why you wont take profit after you reach your maturity date.

Thank you as you add more to this discussion. Before I begin to dey create this discussion, I search if any of this kind of discussion dey and I see some, the ones way I see the threads dey locked and nah actually old threads. I believe say the reason why them dey locked nah because the discussion already dey exist for the same board.
Like dis ones 👇

https://bitcointalk.org/index.php?topic=5484033.0

You'll agree with me that Bitcoin is a pretty great option for wealth preservation, the question is how long exactly do you plan to preserve that wealth. If you check my comment above, you'll see that I also am of the opinion that one can actually take profits from their stash, only if they've managed to attain an overaccumulation status. So invariably, we are saying the same thing is with slightly different opinions. I believe your confusion is the point of withdrawing one's profit, and I asked a question above, asides withdrawing one's profits for the purpose of investment diversification, is there actually any other reasons that'll prompt you to want to sell of a portion of your bitcoin? If so, please do let me know.

Yes, every investor has their personal investment goals and these goals are the major factors that drives the investor's decisions during their accumulation journey, even when it comes to changing of one's strategy and approach, it's also crucial to make sure that these changes and alterations aligns well with your initial goals, although it's also possible that their could sometimes be a shift in these goals. Most investors who started off in this space with a particular goal, have along the line, evaluated their goals and also saw need to make a few shifts in those goals, so investment goals can shift at any time

Very useful thread for our local board where I'm already noticing so many new persons. This will help them not to look lost when they engage in discussions in the general board. There are also few of them I have forgotten, which this thread helped me to remember. I think there is a board in the Beginner & Help board that also listed some of these things but can't get the exact thread. There they added many other technical abbreviations too for those interested in Bitcoin technical and even mining. Nevertheless, this is a good start as it covers the major abbreviations.

Nice thread as these Acronyms will help people especially those new to the crypto space to adapt fast on the board when engaging in discussions because some things when some people finds it difficult to follow and understand the meaning of some of the abbreviation that are used in crypto currency when posting on the forum.



It's important that people get used to these Acronyms because it will be of help because we encounter most of these abbreviation often on the forum so I will commend you for this post

Nice thread OP, during my newbie days i wasn't privileged to see post like this that will give me the meaning of some terminology i came across when navigating through the forum. I literally made some researches and learnt everything by myself but bringing this thread will make not only newbies but some members who are not conversant with some of these terminologies to see them and understand their meanings and full meanings.

OP i think these two terminologies below should be added:
DCA - Dollar Cost Averaging
ROI - Return On Investment

Funny how things changes, many of us no actually know all dis abbreviations de time we first enter dis forum but now we don learn many things and still dey learn the ones we never actually come across before. This alone show say the Bitcointalk forum nah the best place to learn about crypto currency for free and other benefits also dey attached.

Anyway, I no kno if make I add this one way Una drop for de op or make I leave am the way e dey sef.
What's your suggestion?

Thanks for sharing OP, since I registered in this forum I have only been seeing members using HODL and shitcoin, and from reading through there posts I understood what they meant, and I have used them too in making posts, however I have not really seen members in this forum using this other abbreviations and I most say that a lot of members here don't even know what they mean and has not used them before.
I would even suggest to our moderator Sir Igebotz to pin this post in our local board or create a more comprehensive one about this abbreviations and pin it so that those who will be coming into the forum and local board will see it and go through it, so that when they see people using it they will understand the meaning and won't be asking or creating thread to ask about those abbreviations.
Thank you sir @Igebotz as you consider this.

It's important to know the abbreviations used in the crypto space,when I joined the forum I wasn't conservant with many crypto abbreviations,I had to start carrying out my own research,the only crypto abbreviation I was conversant with then was BTC.I think not only being conservant with the abbrevations in the crypto space but the forum also, it's also important to know the abbreviations used in this forum.To add up to the abbreviations you didn't list;
1.PoW-Proof of work
2.PoS-Proof of stake
3.KYC-Know your customer/know your client
Abbreviations used on the forum are;
4.DT-Default trust
5.OP-Original poster
6.ANN-Announcement
7.BCT-Bitcointalk

Normally, I believe say all of us way come in to the forum with small knowledge and Pipo way no get any single knowledge about the crypto space really see all those tings way make us been dey confused one way or the other. But lucky we dey catch up. Sometimes we really need to use Google to search for anything way we no understand, Internet don make tings easy for us, so if we see watin we no understand the mean for anywhere (even inside the forum or the real world) make we try make research or ask question for forum. Mostly if nah crypto related things. Help dey the forum sha, and nah for free. For some platforms you go must pay before you learn register not to talk of learning.

Having a comprehensive knowledge about these crypto acronyms and what they stand for is actually crucial in been able to communicate effectively in a crypto community like this, and as such, I thought it will be wise if those newbies who literally don't know what these acronyms stand for, can possibly do their own research. Because the truth of the fact is that if newbies wait for all information to be posted here before they could learn, it won't literally make any sense, and as such, I was able to add just buy a few to O.P's list as shown below,

BTFD = Buy The Fing Dip
ATH = All-Time High   
ATL = All-Time Low   
DCA = Dollar Cost Averaging   
ICO = Initial Coin Offering   
IDO = Initial DEX Offering   
DeFi = Decentralized Finance   
NFT = Non-Fungible Token   
KYC = Know Your Customer   
DAO = Decentralized Autonomous Organization
LP = Liquidity Provider   
CEX = Centralized
DEX = Decentralized

The newbies will really find this thread educative because when I was still a newbie in the forum I had a tough time understand these abbreviation anytime I see a user use it, even as a full member now I still got to know it all recently so thank you for sharing this.

Just to be clear, whale is a group of people that buy/trade in large quantity or is it just an individual?

You do well to share for our new comer into the industry to know things and things wey dey necessary but overlooked, some people go overlook am based on say no be small abbreviation? Wetin con concern me with am, but wetin those people wey dey talk like this no know be say, e matters in the small.

When you use am discuss with professional or in a podcast among brainers, you'll understand that it's above just ordinary followers.

Some newbies will prefer to get information from this forum to avoid getting scammed easily in the space because we are seeing a lot of misinformation everywhere related to crypto, and any scammer will guide you according to how they want you to be, they will direct you in the wrong hand so that you will not know the truth.

It is indeed good to do some research about somethings like these abbreviations, they can’t rely on the forum to open everything up.
 However, these things you also added are very important because we use them more often when posting in the forum, this will reduce their search work since they can get it right here easily.

I believe that everyone's idea of HODL is to hold for a long-term which is for as long as possible, atleast for a decade or more, it's very possible to Hodl for that period but then asides Satoshi I don't know anyone, atleast I've not seen prove of anyone that's been holding since the early days till this point without selling some portions, it's not as if it's not realistic but people would definitely sell off some portions when they've met their target but the wrong idea of it is selling off everything when one has met their target cause it makes the ideology of holding a waste of time, why would anyone even hold for a long period then sale off every stash of what they're holding?