James C.'s Posts:



Scamcoin

A cryptocurrency that operates with the sole intention of defrauding its users. Typically, coins that operate as ponzi schemes or ICOs that make false promises are the primary culprits of being scamcoins.

EXAMPLE USAGE:

Tim: I think I am going to invest in Bitconnect because it promises 1% daily interest!

Bob: Don't do it, that is a ponzi scamcoin.

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James C.
Posted on August 7th, 2018

Backtesting

Testing a trading strategy by using theoretical funds with live market data. This is done to determine whether or not the trading strategy is fruitful.

EXAMPLE USAGE:

Paul is backtesting his new trading script to see if it is profitable.

James C. doesn't have a picture.
James C.
Posted on August 7th, 2018

USDT

Also known as Tether, which is a cryptocurrency that is supposedly backed 1:1 by US dollars. This means that this cryptocurrency sees very little volatility, as it is a stablecoin.

Often used on exchanges as a way to trade USD value vs. cryptocurrencies. Also used as a safe haven during declining market conditions as the price is stable.

EXAMPLE USAGE:

I moved all of my Bitcoin to USDT because I think Bitcoin is going to drop.

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

DYOR

Stands for "Do Your Own Research". Often touted on message boards in the direction of inexperienced investors who are looking to be spoonfed profitable investment strategies.

EXAMPLE USAGE:

Tim: Gary said that Losercoin is going to the moon so I am going to buy some.

Bob: You should DYOR before you invest.

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

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!

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

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

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

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