Popular Crypto Slang Terms. Part 4
We're back with more insights into the crypto slang you'll find swirling around trading forums, Telegram channels, and social media platforms.
If you've been following and read Part 1, Part 2, and Part 3 of our series, it's time to press on! The lexicon of crypto bros is always growing with new terms and phrases, and it's crucial to keep up.
Gigabrain/Gigachad
The words “Gigabrain” or “Gigachad” are thrown around in the crypto community when talking about someone who instantly grasps technological innovations. This person understands the differences between L2 and L3, and would never mix up the stabilization mechanism of a seigniorage model with a rebase model.
To some, these terms might sound like mystical incantations. Yet, a gigachad can effortlessly clarify the differences in these algorithmic stablecoin price stabilization methods.
Rouse a gigabrain in the wee hours – and he'll have answers to any crypto-related queries, ranging from the intricacies of various blockchain consensus mechanisms to possible trading strategies for a plummeting market.
Gigabrain is always clued up on the latest tech innovations. Source: Crypto Daily
The term "gigabrain" is generally used in a commendatory manner. Nevertheless, you might hear it used sarcastically to suggest someone is posing as an expert when they're actually out of their depth in crypto technologies.
NYKNYC
The abbreviation NYKNYC stands for "Not Your Keys, Not Your Coins." This mantra emphasizes the importance of personal control over cryptocurrency holdings and is a key slogan among proponents of autonomous crypto storage. It serves as a cautionary reminder to crypto users that mishandling private keys invariably results in the loss of funds. NYKNYC is akin to the high-voltage warning signs, essentially saying, "Do not touch, this will kill you!"
The maxim "Not Your Keys, Not Your Coins" should be a prominent feature in every software wallet interface due to the surging number of breaches involving hot wallets. Data from Chainalysis indicates that losses from compromised private keys escalated from 22.0% to 47.8% in 2023. The safety of any cryptocurrency is fundamentally tied to the security measures in place for storing it.
The owner of BTC is just whoever has its private key. Source: theya.us
Among the most secure methods for storing cryptocurrency are hardware wallets, such as those provided by Trezor.
LFG
The acronym LFG has two meanings. It can refer to "Let’s Freaking Go," a rallying cry used to end discussions and spur community members into action, whether it's to invest in a new asset or participate in a promising airdrop.
However, it's important to exercise caution: this phrase is often employed by promoters and shillers as a baiting tactic in various projects. If you come across a statement like “New project launch in 45 minutes! LFG to grab those early tokens!” in a crypto channel, it's wise to think twice before committing your funds.
LFG also stands for "Looking For Group," a term borrowed from World of Warcraft gamer lingo, used when someone is seeking partners for collaborative endeavors (like completing group quests or raids in games), sharing ideas, or discussing the latest news. In the crypto space, you'll often see this term hashtagged on Reddit and X, particularly in discussions related to NFTs.
The hashtag LFG frequently appears in social media posts. Source: Х
Broadly speaking, LFG is a call to unite and mobilize like-minded individuals in the community.
Laser eyes
The "laser eyes" meme is a popular motif in the digital culture, especially intriguing because it started as a Bitcoin avatar phenomenon on platform X. This trend took off in February 2021 when Twitter user CHAIRFORCE_BTC updated their profile picture to include laser eyes right as Bitcoin surged to $50,000.
The concept caught on rapidly, inspiring other Bitcoin enthusiasts to follow suit. By March of that year, notable figures such as Michael Saylor, Elon Musk, Nayib Bukele, Tom Brady, and Paris Hilton were seen sporting laser eyes on their avatars.
The phenomenon also evolved to include color differentiation: red eyes symbolized support for Bitcoin, blue for Ethereum, and orange (or brown) for DOGE. This trend has been gaining momentum, with specific colors like purple for Solana enthusiasts and blue for Ripple fans, mirroring the colors of their respective logos.
Even Joe Biden has been depicted with laser eyes in support of cryptocurrencies. Source: Х
The hashtag #Lasereyes is frequently used in posts about cryptocurrencies, where it can signify support for a specific coin, excitement over its growth, or enthusiasm for an emerging project.
Laser eyes proclaim a technology to guarantee the human rights of life, liberty, & property.The originator of the laser eyes meme once described its significance
Interestingly, Chairforce is affiliated with Bitcoin Magazine, where he holds the whimsical title of "Chief Shitpost Officer.
