James C.'s Posts:



Goxxed

When you leave your cryptocurrency on an exchange and the exchange gets hacked.

EXAMPLE USAGE:

Tim: Is it safe to leave my cryptocurrency on an exchange?

Bob: Of course not, move them somewhere safe before you get goxxed!

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James C.
Posted on July 12th, 2018

ATH

Abbreviation for All Time High. Refers to the peak price of a cryptocurrency.

EXAMPLE USAGE:

"Shitcoin is worth nothing compared to its ATH."

James C. doesn't have a picture.
James C.
Posted on March 15th, 2019

KYC

Stands for "Know Your Customer". Typically refers to an annoying obligation that exchanges and similar businesses must adhere to that involves verifying a customer's identity.

This is usually done to comply with anti-money-laundering and anti-terrorism laws in whichever country they operate in.

James C. doesn't have a picture.
James C.
Posted on March 15th, 2019

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

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

Stablecoin

A cryptocurrency that has its price fixed, tied to either a fiat currency or asset. Some examples are USDT being tied to the price of the US dollar and DigiDAO being fixed to the price of gold.

Typically (hopefully) these cryptocurrencies are backed by the asset they're tied to.

EXAMPLE USAGE:

USDT, also known as Tether, is a stablecoin because 1 USDT is backed by 1 USD.

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

Hot Wallet

A hot wallet is a method of storing cryptocurrency on a device that is connected to the internet, or some other form of network that is accessed by multiple devices.

Hot wallets are commonly used for the purpose of facilitating exchange quickly and conveniently, though they are vulnerable due to your private keys being stored on a network-accessible device.

EXAMPLE USAGE:

If you keep your cryptocurrency on an exchange, you are keeping your cryptocurrency on a hot wallet.

James C. doesn't have a picture.
James C.
Posted on March 15th, 2019

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

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