James C.'s Posts:



Shitcoin

A cryptocurrency that is typically built on poor fundamentals, or any cryptocurrency in general that fails its intended uses.

Shitcoins are often the result of money-grabbing ICOs or outright scams/ponzi-schemes.

The term is also used loosely in disdain for any particular coin that an individual may not like.

EXAMPLE USAGE:

Ted: Hey did you hear about Gymcoin? Its a new cryptocurrency used to decentralize gym memberships world-wide.

Bob: Sounds like a shitcoin to me.

James C. doesn't have a picture.
James C.
Posted on July 8th, 2018

Fiat Gateway

A service that allows you to convert fiat currency in to cryptocurrency.

Cryptocurrency exchanges that deal in fiat currency, cryptocurrency brokerages and cryptocurrency ATMs are all examples of fiat gateways.

EXAMPLE USAGE:

Coinbase is a fiat gateway because it allows you to purchase Bitcoin/Ethereum/Litecoin with fiat currency such as US dollars.

James C. doesn't have a picture.
James C.
Posted on July 10th, 2018

Cryptocurrency Exchange

A service, typically a website or application, that allows people to exchange cryptocurrencies with one another. In some cases, cryptocurrency exchanges also allow you to trade cryptocurrencies for fiat currency.

Cryptocurrency exchanges operate similarly to stock exchanges and the prices of cryptocurrencies at any given moment are determined on these platforms.

EXAMPLE USAGE:

I just traded some Bitcoin for Ethereum on a cryptocurrency exchange.

James C. doesn't have a picture.
James C.
Posted on July 10th, 2018

Bagholder

Investors left holding a cryptocurrency after its price drops significantly, goes defunct or otherwise becomes worthless.

The term is also used loosely in jest to describe anyone who has invested in a cryptocurrency project that you dislike.

EXAMPLE USAGE:

Bob: Did you hear about losercoin? It dropped over 300% in one day.

Tim: Yeah, all of the bagholders on Reddit are saying to buy the dip.

James C. doesn't have a picture.
James C.
Posted on July 10th, 2018

Browser Miner

Code on a website that mines cryptocurrency using the visitor's computation resources.

For example, you go to a sketchy streaming site that lets you watch TV shows or movies for free, though it uses your CPU to mine Monero for the duration of your stay on the website.

EXAMPLE USAGE:

I was streaming some Spongebob on this website but I bluescreened because the browser miner maxed out my CPU.

James C. doesn't have a picture.
James C.
Posted on July 12th, 2018

BTM

A Bitcoin ATM. Works similarly to a regular cash ATM, except that cash deposited is exchanged in to Bitcoin or other cryptocurrencies, directly to your wallet or to a paper wallet that is printed by the machine.

Some BTMs work both ways, where you can send cryptocurrency to the machine and it dispenses cash.

EXAMPLE USAGE:

Bob went to the BTM and exchanged $500 in to Bitcoin.

James C. doesn't have a picture.
James C.
Posted on July 12th, 2018

Heavy Bags

When you are holding assets that have dropped significantly, that can be described as "holding heavy bags."

EXAMPLE USAGE:

Tim: I bought a bunch of Losercoin last week and its already down 50%.

Bob: Those are some heavy bags you got there.

James C. doesn't have a picture.
James C.
Posted on July 12th, 2018

Bitconnect

A peer to peer lending cryptocurrency that ultimately ended up being a ponzi scheme. BitConnect Coin reached over $2 billion dollars in market cap before it ultimately closed, driving market cap down below $20 million dollars.

Many of the promoters of Bitconnect who made significant sums of money through the affiliate program are currently facing lawsuits, though the people behind Bitconnect are still unkown.

EXAMPLE USAGE:

Tim: I'm about to make 1% compounding interest per day from this Bitconnect thing!

Bob: No you aren't you idiot, that's a ponzi scheme.

James C. doesn't have a picture.
James C.
Posted on July 12th, 2018

Craig Wright

An Australian computer scientist who claims to be the main person behind Bitcoin, AKA Satoshi Nakamoto. Despite his claims, he has been unable to provide any substantial proof to back them up. He is currently facing a $10 billion dollar lawsuit.

James C. doesn't have a picture.
James C.
Posted on July 12th, 2018

Cryptodad

An endearing term in reference to CFTC chairman J. Christopher Giancarlo. Giancarlo gained favour with the crypto community by providing his positive sentiments towards cryptocurrencies during US senate hearings.

EXAMPLE USAGE:

Cryptodad blessed my coins and now they are sky rocketing!

James C. doesn't have a picture.
James C.
Posted on July 12th, 2018