Episode 1
I’ll be revisiting this and adding more content to this list over time.
POW
– Proof of work. Essentially using computational miners to transact crypto currency. This helps the overall security of the block chain.
POS
– Proof of Stake. Allows you to validate (or mine) depending on the coins that you hold. So the more coins owned by a miner the more the mining power. Minimum to stake on Ethereum 2.0 is 32 coins. That’s currently circa $52,000 currently.
Rekt
– To get wrecked. Often used when someone is talking about transacting a risky trade.
Moon
-To the moon. Often used with the moon and rocket emoji. When a crypto coins price is rising sharply. Also ‘mooning’ can mean the price has hit its peak.
When Lambo
-When my crypto can buy a Lamborghini. Thanks to many (in)famous crypto millionaires when lambo is almost a standard saying relating to when a miner / investor or trader will get very rich.
ATH
-All time High. When a coin hits its ultimate peak in value in relation to $USD. Commonly happens in a bull run.
Wallet
– A digital wallet, where crypto currency can be stored. A hot wallet means an online wallet, which is deemed easy to hack than a cold wallet that is not permanently connected to the internet.
Exchange
– Crypto currency exchanges allow you to purchase and exchange crypto currency. Large exchanges are Coinbase Binance & Crypto.com
Altcoin
-Alternative coin. There is bitcoin and arguably Ethereum. Then there are all the other coins.
Fiat Currency
-Fiat means ‘by decree’. That decree is via the central bank in whatever country the currency is minted. Examples of fiat currency are £GBP $USD
FOMO
-Fear Of Missing Out. This relates to when traders see a crypto coin sharply increasing in value, and buy without any knowledge of what the coin is, essentially jumping on the bandwagon.