Popular Crypto Slang Terms. Part 5
We continue to decode crypto slang commonly found on trading forums, Telegram channels, and social media platforms.
If you've diligently followed Part 1, Part 2, Part 3, and Part 4 of our slang series, you're probably familiar with most of the specific abbreviations, allegories, clichés, and concepts by now. Today, we'll decrypt a few more abbreviations and slang terms.
OCD (Obsessive Cryptocurrency Disorder)
Perhaps your girlfriend, who enjoys popular psychology, has mentioned OCD (Obsessive-Compulsive Disorder), characterized by a dependency on compulsive rituals and intrusive thoughts as a way to mitigate anxiety. If you're not familiar with this through personal connections, think of Jack Nicholson in "As Good As It Gets," obsessively washing his hands.In the crypto realm, OCD refers to a similar overwhelming fixation but with the cryptocurrency market. Those afflicted become manic "checkers": obsessively checking CoinMarketCap for price updates, their portfolio's status, and crypto influencers' latest posts every hour, if not more frequently. They might feel as if the market—and their hopes for a prosperous future—would collapse without their vigilant monitoring.
This obsession is why someone with crypto-induced OCD might receive mugs like these as gifts, so their constant device-checking doesn't offend those around them:
Know someone who would appreciate this mug? Source: meesho
This condition slightly mirrors cryptosis (please refer here). However, while traders with OCD might be introverts obsessed with monitoring charts, those with cryptosis are extroverts, constantly discussing crypto with anyone they meet.
Anon
The term "anon," short for "anonymous," is deeply intertwined with the idea of privacy. Originally, it referred to the capability to conduct transactions anonymously, providing users with complete confidentiality.
Over time, the significance of "anon" has broadened beyond its technical function. Today, it serves as a common salutation among members of the cryptocurrency community, embodying their manifesto to protect their right to remain unidentified.
Frequent use of 'anon' in crypto chats. Source: Х
A quintessential anon might seem a bit paranoid, as they:
- Use cryptocurrency mixers;
- Avoid platforms requiring mandatory KYC verification;
- Support privacy cryptocurrencies like Monero, Zcash, and Dash;
- Create a comprehensive virtual identity for interactions online;
- Use separate phones and computers for private and public activities;
- Employ VPNs to conceal their IP address.
However, anons are not driven by paranoia. They are advocates for the freedom that cryptocurrencies and blockchain technology offer. The most legendary of all anons? Clearly, Satoshi Nakamoto.
Cypherpunk
The term "cypherpunk" is used to describe the earliest followers of cryptocurrencies who invested in Bitcoin before it became mainstream. However, it's important to clarify that this term predates Bitcoin, originating in 1993. Journalist Steven Levy coined it to describe internet privacy advocates such as Eric Hughes, Timothy C. May, and John Gilmore, who were the focus of his article "Crypto Rebels." Initially, the term encapsulated the ideology of actively fighting for digital anonymity and freedom from government surveillance.
In modern usage, "cypherpunk" sometimes refers to individuals who view blockchain and cryptocurrencies not merely as means to amass wealth, but as tools for enabling social and political change through the safeguarding of financial privacy. Although often regarded as idealists, they command great respect and support within the community.
Cover of Wired Magazine where the term “cypherpunk” first appeared. Source: Reddit
Prominent cypherpunks who have been advocates for the cryptographic protection of personal data and are pioneers in cryptocurrency include Nick Szabo, Adam Back, Hal Finney, and David Chaum. Notably, cypherpunks are not anonymous; they are typically well-known figures. These individuals are seen as the messiahs of cryptocurrency, sacrificing their anonymity for the greater good of freedom and privacy worldwide.
Doxxing
Increasingly mentioned in crypto-related discussions, "doxxing" stems from the phrase "dropping dox," meaning the unfortunate release of someone’s personal information without their consent.
Doxxers disclose real names, home addresses, workplaces, and even sensitive photos of account holders. Often aimed at public humiliation, persecution, or blackmail, doxxing can have severe repercussions for influential investors and developers.
In the crypto community, such de-anonymization can link a wallet’s address to the actual identity of its owner, making their transactions public and putting their financial privacy at risk. This usually forces individuals to change secure details and hide from unwanted scrutiny—hardly a pleasant situation.
Theft of this data can occur through phishing or more intricate social engineering tactics, like surveillance on social media platforms or direct deception.
Preserve your privacy! Source: nftify
Hence, anons, remember to protect your personal information with the same vigilance you apply to securing the private key of your cryptocurrency wallet.
