Crypto Terms for Newbies

[chocopapaya]

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.

[tekinekan98]

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.

[swsonia]

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.

[temilade200]

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.

[thefaucetrunner]

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.

[gowobonyok]

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.

[Btcwashu]

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/

[lovemsngr]

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.