In previous months, the crypto economy has been getting a lot of attention and I’ve personally noticed that newcomers don’t really know what they’re doing. The average person invests in cryptocurrencies without really understanding the world they’re getting into. They usually have no proper knowledge about the subject, and most of the time, make no effort to inform themselves. I have also seen many people asking about the meaning of crypto related terms, and that’s why I decided to dedicate this blog entry to explaining some of those terms.
What’s the first term that came to mind? The Lambo! How many times have you seen that word in your experience with crypto? I’m sure most of you have seen it a lot, because socials, forums and Telegram chats are saturated with it. As you can imagine, it refers to the prestigious Italian brand Lamborghini, and that’s the car we all want to buy when we’re rich, because that’s the status quo! When you can afford a Lambo, you probably have achieved one of your main goals in your experience with crypto.
Another key word you might have seen is “Moon”, which is sometimes even related to the Lambo. “When Moon?” is a common question you’ll see on socials about crypto. It is used as a joke most of the time, but there are other times when it’s serious. When we say that a cryptocurrency is “mooning”, it means that it’s rapidly growing in terms of price, so it will “reach the Moon”. In fact, some people say that the Moon is actually too close, so they start naming planets that are further away from Earth. That’s why you might read something like: “we will reach Mars”, or “Saturn is the next destination”. I even remember this one time when a brave guy told me: “this stuff is going to go outside the Solar System, so you better buy it now!”
The third term I’m going to explain is “hodl”. When you buy cryptocurrency and hold on to it, that is, when you don’t sell a single token or coin even if its price is rising or falling like a rock in the water, that means that you are “hodling it”. The verb to “hodl” was born in BitcoinTalk on December 2013. A user got drunk and wrote a post whining about the then recent BTC price drop and started talking about his situation. He made a typo and wrote “to hodl”, instead of “to hold”. (You can check the story here: https://bitcointalk.org/index.php?topic=375643.0). I have to say that personally, I’m a hodler.
Another common term that I’m sure you’ve seen recently is BTFD. I won’t say exactly what the “F” stands for, but I’m sure you know what it means. BTFD stands for: “Buy the Fn’ Dip”. That means that whenever the price for BTC or another cryptocurrency is going down and reaching the bottom, people will tell you to buy or BTFD. But, as the saying goes: “the time to buy is when there’s blood in the streets.” (Side note: Personally, I wouldn’t take that as financial advice, because there are a lot of trolls out there).
Finally, the last phrase of the day is: “This is gentlemen.” That’s just a misspelling of “This is it, gentlemen,” and as of right now, it is used when you want to point out good things. For instance: “If the price of Bitcoin rises, this is gentlemen.” In Telegram chats specifically, you might find people using the word “gentlemen” to describe good behavior in terms of price or to talk about another good thing that might be happening.
In conclusion, I might even say this:
I have plenty of cryptocurrencies in my wallet. If they rise, this is gentlemen. Otherwise, I will hodl and BTFD, waiting for it to reach the Moon, so I will be able to spend my money on my new Lambo!
I hope you enjoyed this entry, and if you’re willing to share some other words I missed, feel free to comment below or on our socials. You can even share your favorite Lambo model or talk about which tokens you’re hodling.