Technical Terms
Bitcoin Evangelist: A passionate advocate for Bitcoin who actively promotes its adoption. Early pioneers include Roger Ver ("Bitcoin Jesus"), Craig Wright ("Faketoshi"), Wu Jihan (Chinese Bitcoin entrepreneur), and Chang Jia (co-founder of 8BTC).
Cryptography: The science of secure communication that transforms plaintext into unreadable ciphertext using algorithms.
DDoS Attack: A Distributed Denial-of-Service attack floods a network with traffic to disrupt normal operations by overwhelming server capacity.
Encryption: The process of encoding information into ciphertext to prevent unauthorized access.
EIP (Ethereum Improvement Proposal): Documentation outlining proposed upgrades to the Ethereum network. Notable standards include:
| Standard | Token Type | Use Case |
|---|---|---|
| ERC-20 | Fungible | Interchangeable tokens |
| ERC-721 | Non-Fungible (NFT) | Unique digital assets |
| ERC-1155 | Hybrid | FT/NFT combinations |
EVM (Ethereum Virtual Machine): The runtime environment for executing smart contracts on Ethereum.
Flappening: A term describing Litecoin (LTC) overtaking Bitcoin Cash (BCH) in market value.
Mainnet: A blockchain's primary network where real transactions occur (vs. testnet).
Mempool: A staging area for unconfirmed transactions awaiting blockchain inclusion.
LPoS (Liquid Proof-of-Stake): Allows token holders to delegate staking rights without transferring ownership.
PoS (Proof-of-Stake): A consensus mechanism where validators are chosen based on their token holdings. Ethereum transitioned from PoW to PoS in September 2022.
Ring Signature: A privacy-focused cryptographic signature that obscures the signer's identity within a group.
Salt: Random data added to passwords before hashing to enhance security.
Satoshi (Sat): The smallest Bitcoin unit (0.00000001 BTC), named after creator Satoshi Nakamoto. The Ordinals protocol leverages sats for inscription-based tokens (BRC-20).
SHA-256: Bitcoin's cryptographic hash function generating 256-bit signatures.
UTXO (Unspent Transaction Output): The building block of Bitcoin transactions representing spendable outputs.
ZKP (Zero-Knowledge Proof): Allows truth verification without revealing underlying data. Key variants:
- zk-SNARK: Used by Zcash for private transactions
- zk-STARK: Enables scalable transaction validation for Layer-2 networks
Investment & Trading Terms
Bagholder: An investor stuck holding worthless assets (e.g., LUNA, FTX tokens).
Bloodbath: A severe market downturn causing panic selling.
BTFD (Buy The Dip): Purchasing assets during price corrections—though thorough research is advised.
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Buidl: A purposeful misspelling of "build" emphasizing ecosystem contribution.
Hodl: Slang for holding assets despite volatility (originating from a 2013 Bitcoin Forum typo).
Cloud Mining: Renting remote computing power for cryptocurrency mining.
Cold Wallet: Offline storage for enhanced security (vs. hot wallets for active trading).
Goblin Town: Market slang for extended bearish conditions.
Hey Hey Hey: Popularized by Bitconnect promoter Carlos Matos, now a crypto culture reference.
IEO (Initial Exchange Offering): Token sales conducted through exchanges rather than direct team sales.
STO (Security Token Offering): Regulatory-compliant tokenized securities offerings.
Margin Call: A demand for additional funds when account equity falls below maintenance requirements.
Margin Trading: Using borrowed funds to amplify positions. WEEX offers up to 200x leverage on select contracts—high risk/reward.
Money Printer Go Brrr: Meme referencing unlimited monetary expansion policies.
Privacy Coins: Cryptocurrencies emphasizing transaction anonymity (e.g., Monero, Zcash).
Pump and Dump: Artificially inflating prices before selling off holdings.
REKT: Slang for catastrophic losses—also a meme coin ($REKT).
RSI (Relative Strength Index): Momentum indicator identifying overbought/oversold conditions.
Rug Pull: Sudden project abandonment causing token value collapse.
Token Burn: Removing coins from circulation to create scarcity.
TVL (Total Value Locked): The aggregate assets deposited in DeFi protocols.
UTC Time: The global standard for crypto market timing (8 hours behind Singapore).
Wash Trading: Fake volume generation via simultaneous buy/sell orders—illegal market manipulation.
Whale: Large holders capable of influencing markets.
When Lambo: Humorous expression of crypto wealth aspirations.
FAQs
Q: How do I store crypto safely?
A: Use cold wallets for long-term holdings and reputable exchanges like WEEX with insured hot wallets for trading.
Q: What's the difference between ERC-20 and ERC-721?
A: ERC-20 tokens are interchangeable (like dollars), while ERC-721 tokens are unique (like collectibles).
Q: How can I identify scams?
A: Watch for unrealistic returns, anonymous teams, and pressure tactics. Always DYOR (Do Your Own Research).
Q: Why do privacy coins face regulatory challenges?
A: Their anonymity features raise concerns about illicit use despite legitimate privacy benefits.
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Q: What technical indicators help crypto trading?
A: RSI, MACD, and Bollinger Bands complement fundamental analysis—but no single tool guarantees success.
Q: How does PoS reduce energy use vs PoW?
A: PoS replaces energy-intensive mining with staking, cutting Ethereum's energy consumption by ~99.95%.