HOME: Daily Terms

Term of Day for September 16th, 2020

Moon

A verb used in place of "to the moon", referring to the price of a cryptocurrency skyrocketing upward.

EXAMPLE USAGE:

"Bitcoin will never moon again!"
"Bitcoin is mooning!"

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James C.
Posted on March 15th, 2019

Term of Day for September 15th, 2020

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

Term of Day for September 14th, 2020

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.

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

Term of Day for September 13th, 2020

Fiat

Regulated, government-issued currency that is not backed by anything of inherent value. Like the kind you use to buy a sandwich at the deli.

EXAMPLE USAGE:

US dollars, Mexican pesos and Chinese yuans are all forms of Fiat.

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

Term of Day for September 12th, 2020

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

Term of Day for September 11th, 2020

Transaction Fee

The fee paid when transferring cryptocurrency. The fee is typically paid to those facilitating the network, such as a Bitcoin miner.

EXAMPLE USAGE:

"I just paid a $2 transaction fee for sending $100 worth of Bitcoin."

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

Term of Day for September 10th, 2020

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

Term of Day for September 9th, 2020

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

Term of Day for September 8th, 2020

Lambo

Short for Lamborghini. When you've earned enough from cryptocurrency to buy a Lamborghini. This has been a trending term during the price hike in 2017 and shared on social media platforms in the form of a meme.

EXAMPLE USAGE:

Candice: What does the lambo and crypto market have in common?
Danielle: What?
Candice: They're both hot!

Ha H.'s picture.
Ha H.
Posted on July 22nd, 2018

Term of Day for September 7th, 2020

FOMO

Stands for "fear of missing out". The anxiety felt when the price of a cryptocurrency skyrockets and you are not invested.

EXAMPLE USAGE:

Alex: Oh my god! Ripple is mooning!!
Vivian: What's the price currently at?
Alex: Five dollars.
Vivian: No way, I bought it at a dollar two days ago.
Alex: This FOMO is killing me, should I invest?

Ha H.'s picture.
Ha H.
Posted on July 22nd, 2018