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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