Popular Crypto Slang Terms. Part 3
We continue to decode the bizarre terms and acronyms that populate trading forums, Telegram channels, and social media platforms focused on cryptocurrencies.
If you’ve already covered Part 1 and Part 2 of our cryptocurrency slang dictionary, let's press on! The lexicon of trading jargon boasts entries as numerous as the most optimistic list of potential digital assets.
Moonboy
When you come across the term “moonboy” in trading discussions, rest assured it's not referring to Neil Armstrong or The Little Prince. It pertains to a trader who subscribes to the "To the Moon" mantra. Moonboys have unwavering faith in the looming steep ascent of their favored cryptocurrency and strive to convert everyone within reach to this belief.
Moonboys typically gamble on high-risk investments anticipating significant returns in the near future. Their outlook is perpetually bullish. Even significant market dips don’t sway their beliefs: in bearish conditions, they fervently advocate for an imminent lunar landing with even more zeal.
Moonboys often have an overly optimistic view on the trajectory and speed of any cryptocurrency’s progress, even those not yet proven promising.
A predominant behavioral trait of such a trader is to sacrificially offer their deposit to the deity of Tothemoon. The larger the zeros in the donation amount, the deeper their conviction.
However, do not mistake moonboys for shillers (refer here). Unlike deceptive promoters, these individuals are sincerely mistaken. They are considered somewhat ethereal and are generally handled gently.
The NFT collection dedicated to moonboys. Source: Reddit
Degen
The term "degen" is slang word derived from "degenerate," frequently used to describe traders who engage in risky ventures within the cryptocurrency market.
In essence, a degen is akin to an adrenaline addict, who, rather than seeking thrills through uninsured parkour or consecutive high-stakes casino bets, goes full dep into a new promising (from their perspective) shitcoin.
Currently, the meme coin market is teeming with degens, since these investments are exceptionally high-risk.
Degens act on impulse, driven not by thorough research but by instinct and gut feelings. The more outlandish the gamble appears, the more enticing it is to a degen. Not even the risk of losing their entire capital deters them; the remote possibility of a windfall often outweighs any logical considerations.
Nonetheless, degens contribute significantly: they inject capital into fledgling, obscure projects, drawing attention to them and kickstarting their momentum.
Faced with a choice between risk and stability, degens invariably opt for risk. Source: Medium
A key distinction exists between degens and moonboys: the former are thrill-seekers, whereas the latter hold a genuine belief in the cryptocurrency's future.
FML
Fuck My Life! This phrase commonly reflects the disillusionment and irritation of crypto traders, particularly when a stop-loss hits, or an enduring sideways market suddenly shifts in an unexpected direction. When you see this term, it indicates the speaker is venting frustration. It's best not to challenge them; rather, offer your support.At times, this acronym is also employed humorously to share a negative experience, helping to preserve mental health through tough times with a touch of dark humor.
Even PEPE the Frog sometimes succumbs to an FML moment. Source: Reddit
SNAFU
In crypto trading, SNAFU stands for "Situation Normal: All F*cked Up." This term resonates emotionally with FML but conveys a distinct context. It's used to depict scenarios where things have unexpectedly gone awry, such as a sudden protocol malfunction, an exchange abruptly freezing a user’s funds without any explanation, or losing internet connectivity during a trading session.
SNAFU captures the feeling of being overwhelmed by a grim situation that isn’t one’s fault and which, at the moment, cannot be altered.
An NFT from the Ape Wagmi Punks collection dedicated to the concept of SNAFU: X
Initially coined in the U.S. Armed Forces, SNAFU stood for "Situation Normal: All Fouled Up." Today, it aptly describes the chaotic nature and the inherent unpredictability of the crypto market.
NFA
NFA, meaning "Not Financial Advice," is a standard disclaimer used extensively within the crypto community. It emphasizes that the information provided is for informational purposes only and should not be taken as investment advice.
In theory, any individual or organization without a financial advisory license should apply this disclaimer to their posts or articles. It’s also advisable to remind readers that any decisions should be made after independent research or consultations with a qualified professional who can be held accountable for the advice given. Despite this, adherence to such formalities is often lax.
No one wants to take responsibility for their advice. Source: Х
NFA is often used on crypto forums and other informal venues where individuals freely share their opinions but wish to avoid responsibility if others act on their advice.
