Hey guys/gals,
Those that are new to the game, might have some trouble I imagine catching up with the lingo we use in this part of the world so I thought I would define some of the words commonly used:
HODL - Hold the coin
FOMO - Fear of Missing Out (We all experience this as traders)
ICO - Initial Coin Offering similar to IPO (Initial Public Offer) where coins are sold initially on usually an ethereum token prior to the release on the market
ALTCOIN - Any coin other than bitcoin (This includes Waves and Lisk etc. there are many cryptocurrencies out there now)
BIP - Bitcoin Improvement Proposals (Such as BIP 148)
DEX- Decentralised Exchange (Trading peer to peer such as Bitshares)
FUD - Fear, Uncertainty and Doubt where people are unsure of the market and try and spread FUD to downramp prices
PoS - Proof of Stake is an algorithm by which a crypto aims to achieve distributed consensus (miners take transaction fees)
PoW - Proof of Work is data which is difficult to produce and these have to be mined
DAO - Decentralized autonomous organization (an organization that is run through rules encoded as computer programs called smart contracts. A DAO's financial transaction record and program rules are maintained on a blockchain)
TOR - Anonymous Web browser to access the dark web
Hope this helps! Welcome all to the wonderful world of cryptocurrency. A lot of money to be made and lets drive 'lambos to the moon' (Translation - we are going to be swimming in money)
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