Glossary Archive - Page 2 of 3

Hard Fork

A Bitcoin hard fork can be thought of as a literal “fork in the road”. The blockchain does its job, processing transactions according to its protocol when a split occurs

November 11, 2022

Halving

The long-awaited Bitcoin Halving event, where the amount of Bitcoin that is rewarded for mining each block is halved. These halving events occur approximately every 4 years and create the

November 11, 2022

Grifter

There are a lot of bad actors in the world and the scammer has found his place in the bitcoin world as well. They are basically scam artists who manage

November 11, 2022

Green Candle

As you get into bitcoin, you will no doubt check the price charts regularly. When you switch to “candle view” on these price charts, you will see green and red

November 11, 2022

Genesis Block

On January 3, 2009, the very first block of the Bitcoin blockchain was mined with a message from its creator that read: “The Times 03/Jan/2009 Chancellor On Brink Of Second

November 11, 2022

FUD

FUD stands for Fear, Uncertainty, Doubt. This term is used whenever there is a negative mainstream news article or an online account spreading poorly documented information about Bitcoin. Usually the

November 11, 2022

FOMO

FOMO stands for Fear Of Missing Out and we commonly use it in our day to day life when you feel like getting into something because you don’t want to

November 11, 2022

Fiat

It is well documented by all Bitcoiners that without the fiat money system, Bitcoin would not have been created. Fiat currency is what we use today in our local parts

November 11, 2022

Few

“Few” is short for “few understand this” and is a common phrase found in most hardcore Bitcoiners and Twitter feeds. It tends to be used in situations where Bitcoin has

November 11, 2022

DYOR

One of the fundamental principles that every Bitcoiner should follow is that of DYOR. DYOR stands for “Do Your Own Research”, which is pretty self-explanatory. A lot of noobs will

November 11, 2022

Dust

Dust refers to a bitcoin wallet that contains such a small amount of satoshis that if it were to be sent to another wallet, it would cost more in transaction

November 11, 2022

Double Spend

Double spending occurs when an attempt is made to send the same Bitcoin twice from one wallet to another, usually with malicious intent. Normally, nodes verify that the Bitcoin in

November 11, 2022

Don’t Trust, Verify

One of the phrases you’ll often hear is “Don’t trust, verify,” which emphasizes one of the key pillars of Bitcoin’s use of blockchain technology. We’re so used to trusting third

November 11, 2022

Difficulty

“Difficulty” is a term related to Bitcoin mining and basically describes how difficult it is to produce a new block. In the mining process, ASICs frantically try to solve complex

November 11, 2022

Degen

“Degen” is short for the colloquial term “degenerate” as in “degenerate gamer”. In the world of bitcoin, it is someone who likes to take out loans against their bitcoin with

November 11, 2022

DCA

DCA is short for Dollar Cost Averaging. It is a strategy that has gained popularity when it comes to buying Bitcoin but whose principle is quite simple. You have a

November 11, 2022

Crypto

Crypto is short for “cryptography”, which is the technology used to encrypt and secure transactions on the Internet. For example, sending emails, visiting websites with a padlock next to the

November 11, 2022

Confirmation

Confirmations are when your Bitcoin transaction is included in a block, cementing its place on the blockchain and making it irreversible. An example of this is when you want to

November 11, 2022

CoinJoin

CoinJoin is a layer built on top of the Bitcoin blockchain with the aim of introducing more privacy to transactions. The process requires finding different Bitcoin users who want to

November 11, 2022

BTFD

As is often the case with Bitcoin price movements in a bull market (or even if it is not a full-fledged bear market), there will be a short period where

November 11, 2022

Bull Market

A bull market is everyone’s favorite place when they have Bitcoin! This is when there is an extended period of upward movement in the fiat price of the underlying asset.

November 11, 2022

Bubble

A bitcoin bubble occurs when the sentiment around bitcoin is too positive and drives everyone to buy it. This then pushes prices into a bull market before sentiment changes and

November 11, 2022

BTC

The BTC ticker stands for Bitcoin. Bitcoin is a digital currency and a payment system invented by Satoshi Nakamoto. The system is peer-to-peer; users can transact directly without an intermediary.

November 11, 2022

Block Reward

When a new block is successfully added to the blockchain, miners will receive Bitcoin for the work done – this is called a block reward. Bitcoin miners are specialized nodes

November 11, 2022

Block Height

The “block height” is the number of blocks between the genesis block and the current block. Blocks are where all Bitcoin transactions are stored and every 10 minutes a new

November 11, 2022

Block

A block is where the most up-to-date record of transactions on the Bitcoin network is kept. Every 10 minutes, a new block is created and added to the existing previous

November 11, 2022

Bear Market

A bear market is when the price of Bitcoin begins to decline and continues to decline for an extended period of at least 20% as panic sets in among those

November 11, 2022

Banana Bread

If you’ve seen any weird posts circulating on social media like Twitter or Reddit from October 2021 regarding Bitcoin and banana bread, you’ve probably left your head scratching. The trend

November 11, 2022

ATH

ATH stands for “All Time High” and this is when the price of Bitcoin reached its highest level. When it’s ATH season, there’s a sense of euphoria in the air

November 11, 2022

ASIC

ASIC is what you will come across if you decide to get involved in Bitcoin mining – the acronym stands for “Application Specific Integrated Circuit”. In the image above, you

November 11, 2022

Hard Fork

Halving

Grifter

Green Candle

Genesis Block

FUD

FOMO

Fiat

Few

DYOR

Dust

Double Spend

Don’t Trust, Verify

Difficulty

Degen

DCA

Crypto

Confirmation

CoinJoin

BTFD

Bull Market

Bubble

BTC

Block Reward

Block Height

Block

Bear Market

Banana Bread

ATH

ASIC

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