CRYPTO KEYWORDS II.
The most frequently used terms in the crypto world - continued
We started a crypto vocabulary list a few articles ago. As we go along we bump into further words, phrases and acronyms. Here’s part 2 of our crypto dictionary.
ALTCOIN – Any form of digital crypto currency that isn't Bitcoin, is an alternative coin.
DDOS – The acronym for a ”distributed denial of service” attack. Such an attack uses large numbers of computers under an attacker's control to drain the resource of a central target.
PUMP AND DUMP – Inflating the value of a financial asset that has been produced or acquired cheaply, using aggressive publicity and often misleading statements.
SHORTING – Selling a cryptocurrency in hopes of buying it at a lower price at a later time to gain profit.
ERC-20 – A type of token standard for Etherium which ensures the tokens perform in a predictable way. This allows the tokens to be easily exchangeable. Most tokens released through ICO’s are compliant with the ERC-20 standard.
PRE-SALE – A sale that takes place before an ICO is made available to the general public to participate.
WHITEPAPER - An informational document that generally informs readers on the philosophy, objectives and technology of a project or initiative. Whitepapers are often provided before the launch of a new coin or ICO.
SHITCOIN – This is not necessarily a bad term. Traders don’t avoid a coin because it is a shitcoin. Just never fool yourself and start believing in a shitcoin without finding out about its background.
TA – Trend Analysis or Technical Analysis. It refers to the process of examining current charts in order to predict which way the market will move next.
DYOR – Acronym for ”Do your own research”.
DEAD CAT BOUNCE – A temporary recovery in prices after a huge decrease.
FA – Acronym for ”Fundamental Analysis”.
RSI – It stands for ”Relative Strength Index”, a popular trading indicator used in technical analysis.
JOMO – The abbreviation that stands form ”Joy of missing out” (the opposite of FOMO).
That’s all for now.
We’ll be back with another bunch of crypto phrases as soon as we bump into 10 to 15 more new ones.