New to Bitcoin and Wondering What all the Acronyms & Terms Mean? Here’s a Quick Cheat Sheet
In my last Bitcoin atomic essay, I told you how to start learning about Bitcoin.
But you still may need to know a few terms to understand what people are talking about on Bitcoin Twitter. (I know I did!)
Here are the basic terms you need to know to speak the language
HODL = Hold! As in, don’t sell your Bitcoin. It was born of a typo, just like pwned.
HFSP = Have Fun Staying Poor! Typically used when someone makes a poor choice because they don’t understand Bitcoin. (Like selling your $BTC).
$BTC = Bitcoin
Satoshi = Bitcoin’s creator & author of the Bitcoin white paper. Hasn’t touched his Bitcoin. Whereabouts unknown.
Sats = Satoshis, the proper way to divide BTC and convert to USD
Fiat = Money by decree, aka $USD. Solves 0 problems. Printed to oblivion.
Pleb = A commoner, a Bitcoiner, just an average person who’s stackin’ sats.
Stacking sats = buying Bitcoin in any dollar amount you can.
DCA = Dollar-cost averaging.
Low-time preference = The opposite of instant gratification.
Bullish = Excited about Bitcoin & firmly believing in it.
ATH = All-time high (That was in November 2021).
LFG = Let’s f*ckin’ go!
GFY* = Go f*ck yourself. *Not Bitcoin-exclusive 😉
Maxi = Bitcoin maximalist, someone who is all in on Bitcoin and Bitcoin only, fighting the good fight to get us all on a Bitcoin standard.
Sh*itcoin = Any coin but Bitcoin, believing in &/or supporting anything but Bitcoin, aka Sh*itcoiner: a person who shills sh*tcoins even though their followers will get rekt.
Rekt = Losing all your money because you fell for some sh*tcoin rug pull.
Rug pull = What fraudsters do. They pull the rug out from under you!
So, what did I forget?
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