Bitcoin vocabulary

[krauzzer02]

Bounty - A reward that is relevant to which is the first person who finish specific task or job, most payments are cryptocurrency based.
BT - Refers to this forum bitcointalk.
Scamcoin - An altcoin that is created for the sole purpose of scamming or stealing peoples money specially the one who is invested on it.
Faucet - A type of website that gives free bitcoins or any other type of coins to the newbies.
Genesis Block - The very first block in the blockchain that is released by satoshi nakamoto.

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[DimaS1574]

main words

BTC:  A common unit to describe one bitcoin, as USD represents one United States Dollar.
Bit:  There are 1,000,000 bits per bitcoin so 1 bit = 0.000001 BTC.   Cheaper items are denominated in bits.
Satoshi:  The penny of bitcoin.  1 Satoshi = 0.00000001 BTC  This is the smallest measurement of bitcoin.
Bitcoin:  Bitcoin with a capital ‘B’ is used to describe the the network or protocol that bitcoin runs on, bitcoin with a lowercase ‘b’ represent the digital token or money that that is used on the Bitcoin network.
Bitcoin Address:  Also known as a public key, is like an email address.  Give your bitcoin address to anyone who you want to receive a payment from.  It is best practice to use a new bitcoin address for each of your transactions.
Wallet:  Where you store your bitcoins. A bitcoin wallet is a program that manages all of your bitcoin addresses and allows you to save or spend your bitcoin.
Block:  A block is group of bitcoin transactions that are being processed & confirmed.  Roughly every 10 minutes a miner will find a new block, which will confirm any bitcoin transactions that were processed during that 10 minutes.
Confirmation:  A confirmation means your transaction was processed by bitcoin miners and added to a new block on the blockchain.  It is generally accepted that after 6 confirmations your transaction has been set in stone globally and cannot be reversed by anyone.
Blockchain:  A publicly shared record of every bitcoin transaction that has ever been processed.  The blockchain is in chronological order to easily navigate where your bitcoins came from and where they go after you send them to someone else.  Every ten minutes a new block is added to the blockchain through mining.
Double Spend:  When a malicious user tries to send their bitcoin to two different people at the same time to pay for several services with the same bitcoin.  It is up to miners to decide which of the transactions is accepted into the network.   One transaction will receive confirmations, the other will be rejected by the network.  Most users never have to worry about double spend attacks, they are rare and difficult to pull off.
Mining:  Bitcoin mining is making computers do complex mathematical calculations for the Bitcoin network to confirm users bitcoin transactions in a block.  Bitcoin miners greatly increase the security of the network and are rewarded with new bitcoins and transaction fees for their efforts.
Hash Rate: Is a measurement of computer processing power of bitcoin miners.  Miners earn bitcoin for their share of the network hash rate, so they are incentivized to have the highest hash rate possible.  This works out for everyone because the security of the Bitcoin network increases as the network hash rate grows.

Private key.  Every public key (bitcoin address) has a private key associated with it.  A private key is a secret piece of data that proves your right to spend bitcoins from your wallet.  Your private key(s) are stored in your computer if you use a software wallet; they are stored on some remote servers if you use a web wallet.  If you don’t encrypt your bitcoin wallet it makes it easier for someone to steal your private keys.  Anyone with access to your private keys can spend your bitcoin from any computer worldwide.

[budongski25]

51% attack
A condition in which more than half the computing power on a cryptocurrency network is controlled by a single miner or group of miners. That amount of power theoretically makes them the authority on the network. This means that every client on the network believes the attacker’s hashed transaction block. This gives them control over the network, including the power to:

• Issue a transaction that conflicts with someone else's.
• Stop someone else's transaction from being confirmed.
• Spend the same coins multiple times.
• Prevent other miners from mining valid blocks.

Pool
A collection of mining clients which collectively mine a block, and then split the reward between them. Mining pools are a useful way to increase your probability of successfully mining a block as the difficulty rises.

Priority
A scoring mechanism to help ensure that expensive data storage isn't consumed by lower quality and spam. Low priority transactions will not get included by a miner if the limited space is already filled by higher priority transactions. A transaction fee will affect priority.

Transaction Fee
A voluntary fee which can be added to a transaction which is used as an incentive to add the bitcoin transaction to a block. The fee determines the likelihood of inclusion in any given block, where a high fee included with a transaction has a priority over transactions with a lower fee included or no fee at all.

[pat4cryptoreal]

Hard cap: The maximum projected amount during ICO token sale
soft cap: The minimum projected amount during ICO token  sale
ICO: initial coin offering
bounty hunters: freelancers that are always ready to advertise bounties
segwit: segwit is a process by which block size in blockchain is increased by removing signature data from transaction.
Token: Digital asset that have value equivalent to fiat currency

[bitcoinjames6]

Interesting thread - bitcoin vocabulary could grow and expand as time goes on too. Could be good to reference this thread

[solarion]

bitcointalk: a forum that talks about bitcoin.

stakes: rewards are commonly used in the signature campaign, which will be calculated with the coins followed by the project.

 

If you are looking about bounty stake information. The payment for the campaigning will be distributed in the forum of tokens with the multiple percentage increment stakes. Some may paid via altcoins they are using.

General signature earnings will be paid in the form of bitcoin for weekly and monthly basis. If you wish to know about any concern project exactly what they are paying you have mention its name to get in detail.

[The daddy]

I am actually getting a grip on some of the terms used here. So far here are the terms I am familiar with:
1. Volatile - swinging of prices in extreme ends or prices suddenly change?
2. Fiat - usually refers to paper money
3. Altcoins - coins aside from bitcoin

Can you share some of the terms you know? It would be a very big help to widen each others bitcoin vocabulary.
Thank you very much!

Some of the bitcoin vocabularies that I know are these terms like cryptocurrency that refers to the digital currencies like Bitcoin itseslf, wallet is where you store all your bitcoins or wallet for any other cryptocurrency that exists and the term exchangers in which is where you wanted to make your bitcoin into other coins.

[Cranidos]

I am actually getting a grip on some of the terms used here. So far here are the terms I am familiar with:
1. Volatile - swinging of prices in extreme ends or prices suddenly change?
2. Fiat - usually refers to paper money
3. Altcoins - coins aside from bitcoin

Can you share some of the terms you know? It would be a very big help to widen each others bitcoin vocabulary.
Thank you very much!

1. PO (payout) = Payment of a mining / hyip / PTC site etc into our account
2. WD (withdraw) = bitcoin transfer process from mining / hyip / PTC account etc into bitcoin wallet
3. Scam = brief explanation of "Not Paying"
4. Ripper = in the bitcoin world Ripper is often interpreted Fraudsters
5. Mining = mined ... ie mined bitcoin, to do mining we usually required to buy mining tools on a web (cloudmining) there are 2 types of mining that is mining hardware and cloudmining
6. Trading = doing the buying and selling activity on bitcoin exchanger sites
7. Exchanger = exchange place bitcoin to Usd and other coin2
8.Wallet = wallet / storage bitcoin

that's all I remember. there is already a trhead that gives information about the term in bitcoin

Thanks for sharing. This is very helpful for some bitcoin users who sometimes cannot understand what the term inside a thread (just like me). I find it hard to join a discussion here because of the terms used. I will stay updated in this.  Thank you very much.

[Genamant]

I am actually getting a grip on some of the terms used here. So far here are the terms I am familiar with:
1. Volatile - swinging of prices in extreme ends or prices suddenly change?
2. Fiat - usually refers to paper money
3. Altcoins - coins aside from bitcoin

Can you share some of the terms you know? It would be a very big help to widen each others bitcoin vocabulary.
Thank you very much!

heres some

 Shitcoin - coins with broken blockchain
 Shills - who promotes shitcoins
 Noobs - a seasoned crypto trader
 PoS- proof of stake
 PnD (Pump and Dump)
 FOMO - Fear Of Missing Out
 FUD - Fear, Uncertainty and Doubt
 Whale - big player in trading
 HODL - hold on to dear life , simply means dont sell

[ponicita]

Thank you very much this post, its really helpful, specially for non native english readers
Acronyms and abbreviations sometimes are very confusing

[dioanna]

Thank you very much this post, its really helpful, specially for non native english readers
Acronyms and abbreviations sometimes are very confusing

can i contribute too
Satoshi- penny of bitcoin, the smallest measurement of bitcoin
POW - proof of work
POS  - proof of stake
Hash - used for confirming coins transaction
Bitcoin Address- Also known as a public key, is like an email address
Bitcoin Wallet - Where you store your bitcoins

[AGD]

I am actually getting a grip on some of the terms used here. So far here are the terms I am familiar with:
1. Volatile - swinging of prices in extreme ends or prices suddenly change?
2. Fiat - usually refers to paper money
3. Altcoins - coins aside from bitcoin

Can you share some of the terms you know? It would be a very big help to widen each others bitcoin vocabulary.
Thank you very much!

heres some

 Shitcoin - coins with broken blockchain
 Shills - who promotes shitcoins
 Noobs - a seasoned crypto trader
 PoS- proof of stake
 PnD (Pump and Dump)
 FOMO - Fear Of Missing Out
 FUD - Fear, Uncertainty and Doubt
 Whale - big player in trading
 HODL - hold on to dear life , simply means dont sell

I marked the nonsense in bold. Find out by yourself.

[Jarr]

I am actually getting a grip on some of the terms used here. So far here are the terms I am familiar with:
1. Volatile - swinging of prices in extreme ends or prices suddenly change?
2. Fiat - usually refers to paper money
3. Altcoins - coins aside from bitcoin

Can you share some of the terms you know? It would be a very big help to widen each others bitcoin vocabulary.
Thank you very much!

segwit = segregated witness
hf = hard fork.
i know these word by someone in this forum while talking about 1 august.

[Pumapipa]

I am actually getting a grip on some of the terms used here. So far here are the terms I am familiar with:
1. Volatile - swinging of prices in extreme ends or prices suddenly change?
2. Fiat - usually refers to paper money
3. Altcoins - coins aside from bitcoin

Can you share some of the terms you know? It would be a very big help to widen each others bitcoin vocabulary.
Thank you very much!

1. PO (payout) = Payment of a mining / hyip / PTC site etc into our account
2. WD (withdraw) = bitcoin transfer process from mining / hyip / PTC account etc into bitcoin wallet
3. Scam = brief explanation of "Not Paying"
4. Ripper = in the bitcoin world Ripper is often interpreted Fraudsters
5. Mining = mined ... ie mined bitcoin, to do mining we usually required to buy mining tools on a web (cloudmining) there are 2 types of mining that is mining hardware and cloudmining
6. Trading = doing the buying and selling activity on bitcoin exchanger sites
7. Exchanger = exchange place bitcoin to Usd and other coin2
8.Wallet = wallet / storage bitcoin

that's all I remember. there is already a trhead that gives information about the term in bitcoin

You should also explain "Cloudmining" for people to know the difference between normal Crypto currency mining and "Cloud

mining" -- Cloud mining or cloud hashing enables users to purchase mining capacity that of hardware in data centres. ...

Bitcoin cloud mining, sometimes called cloud hashing, enables users to buy the output of Bitcoin mining power from Bitcoin

mining hardware placed in remote data centres. So you do not own the hardware, but rather mine with hashing power

being generated by other people's hardware {In theory, but seldom what is happening... most of these sites are just Ponzi

scheme, pushing fake numbers and moving money around}

Normal mining is done with your own hardware {ASIC miners} 

My question is, if mining can be done using a hardware usually, what hardware do you use? What are the specifications and how does it work. Second question will be, how is mining and faucet differ? I have seen a website that promises satoshis like every minute. Just by clicking. Is this fraudulent? Or should I go into it?

[Pumapipa]

Bounty - A reward that is relevant to which is the first person who finish specific task or job, most payments are cryptocurrency based.
BT - Refers to this forum bitcointalk.
Scamcoin - An altcoin that is created for the sole purpose of scamming or stealing peoples money specially the one who is invested on it.
Faucet - A type of website that gives free bitcoins or any other type of coins to the newbies.
Genesis Block - The very first block in the blockchain that is released by satoshi nakamoto.

How do you determine a SCAMCOIN from the rest of the altcoins? It is quite disappointing that some people actually takes advantage of other peoples money to make money for their selfish ambitions. And I think it should be banned from trading sites like liqui or possibly banned from making campaigns as well.
On the other hand, Can you suggest a good faucet website? Planning to earn bitcoins even little by little.

[congresowoman]

I've seen FUD mentioned (Fear, uncertainty, doubt) but haven't seen:

FOMO - Fear of missing out

I think FOMO is a term outside bitcoin. What do you think are the times when we use FOMO?

Faucets- are internet websites that give satoshis.
Altcoins- Alternative coins like ethereum, and others besides bitcoin.

[ReyshElle]

HODL: verb, philosophy; to buy and hold your Bitcoin, especially when the value is dropping like a bikini clad vacationer jumping off a cliff. More recently been assigned the acronym meaning "hold on for dear life".

The term originated from this forum post.

If you see someone yelling "Sell! Sell! Sell!" there will be 10 of us lurking about to say "Hodl! Hodl! Hodl!"

#iamhodling

I saw a post and I actually though hodl is just a mere  typo. It's fun knowing that it isn't xD

[moanamakeway]

I am actually getting a grip on some of the terms used here. So far here are the terms I am familiar with:
1. Volatile - swinging of prices in extreme ends or prices suddenly change?
2. Fiat - usually refers to paper money
3. Altcoins - coins aside from bitcoin

Can you share some of the terms you know? It would be a very big help to widen each others bitcoin vocabulary.
Thank you very much!

Can you also help me define the following?
Token sale
Crowd sale
 Are they the same?