Dictionary to survive in the universe of cryptocurrencies

AMA. (Ask Me Anything). Ask about anything we will try to help you. Under this claim, forums proliferate, through social networks, in which experts lend their time and patience to resolve the doubts of the layman. What the gurus do not earn in money, since everything is altruistic, they receive in prestige and prescription power.

AML (Anti-Money Laundering). It is the commitment of the tax agencies around the world, that not a penny escape from the clutches of the treasury. To do this, all of them coordinate their regulations to close the loopholes of potential fraudsters. As it is easy to guess, cryptocurrencies have lived with this label since the beginning of their days.

API (Application Programming Interface): it is the salvation of programmers, the precooked ingredients with which they can program any application thanks to this programming interface. With out-of-the-box features that work the first time and are supported on the same mobile platform, you save time, money, and effort. Saving the distances, a hypothetical virtual house can be built with the API of foundations, floors, walls, roof…

Blood bath. That is the nightmare of any investor, seeing its value in red with no sign that it can change color.

BTFD. (Acronym for Buy The Fucking Dip), that is, buy the damn dip, to put it mildly. It alludes to the profile of the investor who rubs his hands when the rest panic.

Cypherpunk. Current of opinion that advocates turning the social, financial and political system upside down with the use of new technologies, starting with the complete privacy of users through cryptography.

Dolphin: A small investor, like a dolphin, but with the ability to influence those around him who can humbly move prices with his actions on social networks and specialized forums. This is how some whales or whales start, which are certainly fearsome due to their ability to shake the market with their large volume purchases and sales.

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earlybird. They are the visionaries or early birds who -either by chance or with premeditation- acquired Bitcoins many years ago, when the currency was almost an experiment. Those privileged acquired the cryptocurrency for very few euros # and now they amass millions.

ELI5. (Explain it Like I’m 5). It is just what analysts and journalists try to do when they have to address the general public to explain how a new technology works as if they were five years old.

FOLE (Fear Of Losing Everything), that is, fear of running out of money. It occurs with some frequency given the volatility of the medium.

FOMO (Fear Of Missing Out): the so-called ‘fear of missing out’ exerts a magnetic power in the community when it is seen that a cryptocurrency begins #to go up and up and nobody wants to miss the party. ‘Fomo’ is not exclusive to cryptocurrencies. The opposite of Fomo is Jomo, joy to stay out “in some resounding inversion. There is also talk of Romo (Regret of Missing Out), when there is regret for staying out.”

GAS fee. It is the fuel that allows Etherium to work, because nothing runs on ‘batteries’. It is the price or commissions with which the miners who produce the blockchain blocks and verify the transactions are paid.

Hash. It is one of the pillars of blockchain technology, since the algorithms are responsible for ensuring the authenticity of the data, in addition to protecting passwords and the veracity of electronic documents. Each miner (or rather each computer with its graphics card) tries to solve the mathematical problem in order to obtain a new block with its corresponding reward.

HODL. The fault was the fat finger, the fat finger of GameKyuubi, a user who in a forum in 2013 typed “I am Hodling” when he wanted to have said Holding (maintain), that is, keep his investment until death. Therefore, now, Hodl is the acronym for ‘Hold on for dear life’.

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ICO. The Initial Coin Offering, the way to finance ideas. It must be noted on the agenda since it is the system by which any project can raise fortunes in cryptocurrencies or dollars with the sale of a new crypto asset.

ISO. Initial Scam Offering is the initial scam offer, a term that coincidentally bears an extraordinary resemblance to ICO (Initial Coin Offering).

Lamb. It is the force that moves the system and is inspired by #the colloquial name of Lamborghini, a pioneer firm in accepting payments in cryptocurrencies. The dream is to win a million dollars to buy the sports car.

Miner. The thousands of users with their connected Nodes (computers and graphics cards) that produce the blockchain blocks and that are paid in cryptocurrencies.

Node. It is the connected computer or server that is capable of transmitting the information, such as the verification of the chain of blocks or their generation. Like any interconnection point, it has its domain name and IP address.

OCD. Obsessive Cryptocurrency Disorder, which could be translated as Obsessive Cryptocurrency Disorder. The new pathology consumes the lives of more and more crypto investors. The disease consists in not taking your eyes off the screen to watch the constant dance of the prices of crypto assets.

Oracle. It is the program that provides information to the smart contracts of blockchains to be able to operate in the real world in any sector of activity. It is a decentralized software offered by third parties, outside the blockchain itself.

Fish. (fish). In an ocean with whales and dolphins, #fish abound, small investors with little volume in cryptos.

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SAFU. The term comes from the word Safe (safe), misspelled by Changpeng Zhao, the CEO of the Binance exchange firm. The Chinese executive shared a tweet where the funds were safe to, since then, become synonymous with cryptocurrencies, oblivious to any swing.

Bitcoin. Junk currency, to translate in a benevolent way a sanbenito that sticks to altcoins with no chance of survival.

This is Gentlemen. Another typographical slip turned into a legend whose free translation could be “I have very good news.” Its origin is found in the message of an investor who announced a rise in Bitcoin with the expression translated as “This is gentlemen”. Certainly, it is not an inclusive expression.

token. A token, unit of value, or digital currency built with cryptography that relies on another currency’s blockchain to exist. The creator of this tool decides what it is for and how much it is worth.

Weak Hands. A weak hands, a softy, typical of those who act based on the first opinions they receive, both to buy and to sell on impulse. They are not reliable investors.

Zhoutonged. Not at all recommended in this universe of cryptocurrencies, since it refers to Zhou Tong, creator of the Bitcoinica platform, which has now disappeared from the map. ‘To make a Zhoutonged’ is to lose all the accumulated money.

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