Blockchain Terminology

FOMO has increased in recent times due to advancements in technology. Social networking sites creates many opportunities for FOMO. While it provides opportunities for social engagement, it offers a view into an endless stream of activities in which a person is not involved. Psychological dependence on social media can lead to FOMO or even pathological internet use. FOMO is also present in video games, investing, and business marketing. The increasing popularity of the phrase has led to related linguistic and cultural variants. FOMO is associated with worsening depression and anxiety, and a lowered quality of life. Fear of missing out (FOMO) is the feeling of apprehension that one is either not in the know or missing out on information, events, experiences, or life decisions that could make one's life better. FOMO is also associated with a fear of regret,] which may lead to concerns that one might miss an opportunity for social interaction, a novel experience, a memorable event, or a profitable investment. It is characterized by a desire to stay continually connected with what others are doing, and can be described as the fear that deciding not to participate is the wrong choice. FOMO could result from not knowing about a conversation, missing a TV show, not attending a wedding or party, or hearing that others have discovered a new restaurant.[8] FOMO in recent years has been attributed to a number of negative psychological and behavioural symptoms
Social media
Fear of missing out has a positive correlation with higher levels of social media usage. Social media connects individuals and showcases the lives of others at their peak. This gives people the fear of missing out when they feel like others on social media are taking part in positive life experiences that they are personally also experiencing. This fear of missing out related to social media has symptoms including anxiety, irritability, and a feeling of inadequacy compared to others. Self-esteem plays a key role in the levels a person feels when experiencing the fear of missing out as their self worth is influenced by people they observe on social media. There are two types of anxiety, one related to genetics that is permanent and one that is temporary. This state anxiety or temporary anxiety is the one that is more relevant to the fear of missing out. The fear of missing out anxiety is temporary as it is directly related to the individual looking at social media sites for a short period of time. This anxiety is caused by a loss of feeling of belongingness through the concept of social exclusion. FOMO-sufferers may increasingly seek access to others' social lives, and consume an escalating amount of real-time information A survey in 2012 indicated that 83% of respondents said that there is information overload in regards that there is too much to watch and read. Constant information that is available to people through social media causes the fear of missing out as people feel worse about themselves for not staying up to date with relevant information. Social media shows just exactly what people are missing out on in real time including events like parties, opportunities, and other events leading for people to fear missing out on other related future events. Another survey indicates that almost 40% of people from ages 12 through 67 indicate that social media has led to a higher feeling of the fear of missing out. Millennials are the most affected by the fear of missing out, the highest proportion compared to other generations and this is due to the prominence of social media for the generation. Social media platforms that are associated with FOMO include Snapchat, Facebook and Instagram Investing
Fear of missing out has an influential role for the investment market for Blockchain Coin / Token / Cryptocurrencies. With the prominence of people making large sums of money through cryptocurrencies, people fear of missing out on the next get rich quick currency. This fear of missing out has caused the rise of pump and dump schemes where investors use the fear of missing out to raise the price of cryptocurrencies and sell them for a profit while lower tier traders are not able to see profits. People are using bots in these cryptocurrency trades because they fear of missing out on making potential profits as profits can vary rapidly even within the span of twenty seconds. Pump and dumps are a legal grey area for cryptocurrencies so it is not illegal for influencers to use fear of missing out to manipulate individuals.
The fear of missing out is also prominent in the regular stock market. People do not want to miss out on potential stock gains as the market is on a current upward trend as of October 2021. There is a fear of missing out on making big gains through stocks driving the market since the market was at a low point before. The fear of missing out with regards to investing is not applied evenly to different types of stocks and even within different brands of the stocks in the same sector. For example, there are differences between the fear of missing out on Burberry and Prada stock in which the Prada stock is seen as more valuable and people more likely fear to miss out on buying that particular stock.
In recent years, cryptocurrency has taken the world by storm, offering unprecedented returns on investment, while challenging the traditional fiat currencies and providing a headache for state regulators in the process.
The explosion of digital currency into the public consciousness has been a dramatic one, leading to a full-scale outbreak of crypto-mania across the globe, with Bitcoin, Ethereum, Tether, Cardano, Litecoin, and many more, becoming household names.
Such a development has given rise to a whole host of new words and phrases associated with the crypto market, including HODL and FUD. In this article, we will be looking into these two terms – what they mean, and how important they are in understanding crypto trading.

Example: “Stay strong, HODL even when the price drops.”
In early bitcoin forums, someone posted a message that spelled the word “hold” wrong, and readers interpreted it as an acronym “hold on for dear life,” Saddington explains. “Now, it’s become a meme of sorts, so that when the prices are highly volatile, bitcoin buyers say ‘HODL!’” Saddington describes himself as “a long-term HODLER.”
When providing a definition of HODL, it is important to understand that the term is actually an abbreviation for “hold on for dear life” and is derived from the misspelling of “hold”.
It first originated in 2013 when a trader with the username GameKyuubi (who was allegedly slightly inebriated at the time) posted “I AM HODLING” on the Bitcointalk forum, before proceeding on an elongated rant about his Bitcoin trading strategy.
GameKyuubi had made the decision to hold his Bitcoin, in the wake of a 39% drop in the price of BTC over the previous 24 hours leading up to his blog post, with his frustrations being echoed by many other crypto traders.
In the fallout from the numerous comments submitted on the forum, HODL became an instant internet meme, and so the term was born, thanks to a typo from a random internet user who ultimately was on a rant.

Example: “If someone tells you bitcoin is a bubble, they just have FUD.” This one is simple, Saddington says. FUD means “fear, uncertainty and doubt.” Bitcoin followers advise to HODL your coins despite the FUD of those outside the community.
FUD is another commonly used piece of technical jargon found within the crypto world, and is an acronym for the feelings of “fear, uncertainty, and doubt”.
The term itself refers to a particular mindset that is pessimistic in nature, when it comes to a certain asset or market. It is a way of spreading exaggerated negativity about a crypto coin and its future in order to create an atmosphere of uncertainty or fear around it.
After these seeds of doubt are fed into the minds of crypto investors, such a situation usually leads to a drop in price of a certain digital asset or even an entire cryptocurrency space.
The collective term for those who spread FUD is “fudders” and while the FUD can sometimes be justified, most of the time it is used to describe unwarranted negative market sentiment.
The Best Time to HODL
Generally speaking, any specific decisions around holding or selling crypto rest largely on the shoulders of individual traders, depending on their risk tolerance and trading goals.
It can vary between “hodlers” as some may choose to adopt a HODL strategy across the board. This is where they purchase and add crypto to their portfolio, with the intention of keeping them for many months or years before selling.
Others might hold certain coins, at the same time as actively trading others within their portfolio that they view as having less growth potential.
Before making a decision on whether to hold or sell crypto coins, investors should conduct thorough research and due diligence as a first step.
The long-term value of digital currencies remains relatively unknown, and any number of unforeseen events could seriously affect the industry in the future.
How to Deal with FUD
When FUD occurs, it is vital that traders are well equipped and prepared to deal with whatever the situation entails – regardless of scale or severity. Some of the best ways to deal with FUD are outlined below:
• Invest time in keeping and updating a trading log
• Keep emotions in check prior to taking any positions
• Set out clear and achievable trading goals
• Get into the habit of regular self-analysis
• Operate a diversified trading portfolio
• Do not panic once fear sets in
• Never make a trade based on fear alone

Example: “There must be a whale behind this coin’s movement.”
“A whale is someone who owns a lot of cryptocurrency. “According to statistics and the addresses that you can find online — because bitcoin isn’t truly anonymous; you can actually find the whales — these are the people who own a ton of bitcoin. We’re talking about like hundreds of thousands of bitcoin or more.”
If a “whale” sells a lot of their stake, it can cause the price of a cryptocurrency to dip by flooding supply, he explains

Example: “This coin’s chart looks like it was a pump and dump.”
“Pump and dumpers are people who often say, ‘Hey, let’s all of us together pump this coin,’ which means buy the coin, create the demand in the market, the coin will go up in value. Then, everyone “dumps” the coin and sells.
These schemes are often orchestrated through apps like Slack or Telegram, he adds, and advises curious chatroom readers to beware of such gimmicks. An investigation into “pump and dump” schemes found the practice to be an “open secret among many cryptocurrency traders.”
The term pump and dump refers to a tactic used by a group of cryptocurrency users to manipulate the sentiments of the market.
To pump effectively means to hype a cryptocurrency based on fake or misleading information and when the prices go up due to increased investor sentiment, the group will dump all their coins by selling them—which will, in turn, cause the price to drop again.

Example: “I think this coin is going to sell off, and someone’s going to be left as the bagholder.”
“A bagholder, essentially, is a very unfortunate soul who at the end of the day — maybe from a pump and dump — who got ‘held with the bag,’ which means they wanted to sell at a higher price, but the market moved too fast,” Saddington says. Then, that person is left with “a coin they don’t want at a price they can’t sell it [at].”
A bagholder refers to someone that’s holding onto a cryptocurrency that has plummeted in price—even to the point where it becomes worthless.

Example: “Ripple is mooning!”
If something is “mooning,” that means a coin’s price is experiencing a spike. “That is often what you’ll see on Twitter, or social media sites,” he says. “That is one term that I don’t enjoy.”
Crypto-watchers will often get excited about minor bumps in price and boast that their coin is headed “to the moon,” Saddington says, sometimes only in an effort to inflate the price for their own gain.
“I think mooning is one of those terms I’d like to remove from the general vernacular,” he says.
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Shilling refers to the promotion of a cryptocurrency for the person’s own personal benefit. Although the term didn’t originate in crypto, its use in the space became widely popular.
People that would shill are likely those that have invested in a particular cryptocurrency that isn’t performing as well as they hoped and are trying to persuade other people to buy it so that the price would go up. Essentially, it’s all for personal gain.

Rekt refers to the rock-bottom feeling of when someone experiences major losses from cryptocurrencies that have plummeted in value.
The term comes from the word wrecked, which is often used in gaming when a player gets completely destroyed. So whenever someone loses a significant amount of money on a cryptocurrency, they’re getting rekt.

Going to the moon refers to the belief that the price of Bitcoin will experience a significant spike in the future.
If you say that Bitcoin is going to the moon, it means that you believe your investment is going to pay off very well in the future.

A no-coiner is someone who believes Bitcoin is either doomed to fail or will have minimal value in the future. Because of that belief, they don’t hold any coins themselves

Vaporware refers to a software project, cryptocurrency included, that never actually gets developed. It’s usually marketed and hyped to the point where everyone’s talking about it, but it’s simply never completed

Market cap, short for market capitalization, refers to the total value of a specific cryptocurrency. It’s calculated by multiplying a coin’s current price by the circulating supply.
At the time of writing (March 15, 2022), Bitcoin’s current market cap is at 732,061,633,831 USD.

Cryptosis refers to that never-ending thirst for cryptocurrency knowledge. Although it sounds like a disease, don’t worry—it isn’t life-threatening. However, the symptoms will include scouring forums, forcing cryptocurrency discussions among your friends, and overall, minimizing risks when trading.
14. Initial coin offering (ICO)
An initial coin offering or ICO is the cryptocurrency equivalent to an initial public offering (IPO) which means raising funds through the sale of securities or shares for the first time to the public.
Basically, it refers to a crypto company’s fundraising project. They’ll lay out what it’s all about, the team behind it, and ask for investments to help build it. As a reward, they’ll offer new tokens—some of which may have utility in the project, while others will just represent a stake in the company.

Short for know your customer or know your client, KYC refers to the verification of a user’s identity. Most cryptocurrency exchanges will implement this sort of rule not only to verify a trader’s identity but also to comply with regulations and keep their marketplaces safe.

Non-fungible tokens or NFTs are unique, 1-of-1 cryptographic assets that have special identification codes built within them. They come in many shapes and sizes—Tweets, digital artwork, audio, and more.

WAGMI is short for we’re all gonna make it. It is often used in the crypto community to build confidence and encourage everyone not to lose hope.
NGMI, on the other hand, is short for not gonna make it. It refers to the sentiment that you made a bad decision and your investment will not be successful.
Both of these terms are used in the cryptocurrency world but are more prominent in the NFT space—specifically Twitter and Discord groups.

19. Diamond hands/paper hands
Similar to HODL, diamond hands refer to holding Bitcoin even when there’s a ton of pressure to sell.
Paper hands refer to investors that sell off their investments too early—mostly because they’re afraid of the risk and are susceptible to panic.

Bullish and bearish both represent a pattern in the market. Although they were mainly applied to traditional stock markets at first, they’ve found their way to the cryptocurrency space.
A bullish market will feature upward trends in price, while a bearish market will present downward trends.

Buying the dip or BTD means purchasing an asset after its price has dropped. The belief behind it is the same as when you convince yourself to buy something on sale at the mall.
Buying the dip represents buying Bitcoin at lower prices, hoping that it will rise again in the future