For Individuals deeply involved with Crypto and Web3 Space, employing the slang that goes around the space becomes a common practice. However, understanding the terminology used can be confusing for new people. 

In this article, we aim to lay out these slangs and make them easier for you to understand and use in your daily Web3 Conversations. Not only that, we will try breaking down the meaning of the terms and also look at them with a perspective of their usage in real life.

GM- Good Morning

Though the meaning of the phrase “GM” is Good Morning in the traditional sense, the Web3 community has adopted it with a twist. 

It is almost used everywhere, whether you are new to a community and want to introduce yourself or you are just another crypto person starting your day. GM is used through it all!

WAGMI - We are gonna Make It

Wagmi is usually used by Web3 people to represent enthusiasm and optimism in terms of the long-term potential and benefits of both the Space and their investments. 

HODL - Hold on for Dear Life

Originating from a misspelling by a certain Bitcoin forum post during the volatile market of 2013, this phrase became a widely adopted Mantra for every crypto investor.

The term signifies that every investor should not panic and refrain from selling their crypto, regardless of how low it may drop or how volatile the market becomes, and see crypto’s long-term potential.

LFG - Lets Fu**ing Go

LFG is an expression that signifies excitement or anticipation mostly used to unite fellow web3 enthusiasts before starting something new or celebrating something successful.

It conveys a sense of unity and shared enthusiasm for exploring the potential presented by cryptocurrencies and Web3 Tech.

NGMI - Not Gonna Make It

The acronym of WAGMI, "NGMI" represents "Not Going To Make It" and is used to describe the lack of success for either an individual investor or a project within a community. It stands in stark contrast to "WAGMI," which expresses a positive outlook.

Several factors can act as a reason for this situation, maybe poor judgment or shortcomings of a project.

Degen

The term "degen" refers to a person who actively gets involved in risky situations around the space. These individuals frequently take complex risks, employ high-stakes investment strategies, or explore unexplored domains with groundbreaking projects. 

Although the term can possess a negative undertone, some individuals embrace it as a symbol of embracing risk and pursuing potentially substantial rewards.

FUD - Fear, Uncertainty, and Doubt

FUD, an acronym for "fear, uncertainty, and doubt," is commonly used in web3 space. It represents a psychological tactic employed to generate negative sentiments surrounding a specific project or an investment, intending to discourage further investment in the same.
In some cases, this tactic may also be utilized negatively. Often, to cause financial harm to those holding the token, particularly if it poses competition to another project.

Shill

Shilling usually refers to employing propaganda, false information, or exaggerated narratives to promote a service or investment, especially those of inferior quality, in exchange for financial incentives. 

Shilling is predominantly associated with negative connotations and is commonly observed in pump-and-dump schemes. However, it can also be observed in various other contexts where individuals seek personal gains by misleading or deceiving others through promotional activities.

Rekt

Another Misspelled Slang, Rekt originates from “Wrecked” and describes a situation where an investor or trader has suffered significant losses due to a wrong decision or unfavorable market conditions.

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BTD -Buy the Dip

BTD is a widely known term in financial markets meaning to enter a long position during a suspected brief decrease in an asset’s price. 

It is more commonly used in bull markets to support the bullish sentiment and rising prices but also used in crypto bear markets to buy at good historical value for a longer-term investment.

Whale

A whale refers to an individual or a group, that retains a large amount of assets. In some scenarios, the holding can be large enough to cause a noticeable influence on the market of a particular cryptocurrency. 

The apprehension is that such concentration usually leads to an imbalance of control, potentially jeopardizing the decentralized nature of cryptocurrencies.

Shitcoin

You must have heard of Meme related crypto going around. The term shitcoin is used to elaborate on a cryptocurrency of low quality, usually not backed by any technology or utility. Shitcoins are generally termed as a poor investment choice, mostly because they often fail to deliver long-term value.

Pump and Dump

Pump and Dump is a Crafty strategy in which a certain individual or a group of people try to inflate the price of a cryptocurrency artificially. The approach is to create a frenzy of buying and then selling the holding at its peak, causing the price to take a dive. 

Hence investors should be cautious not to invest in coins with sudden price surges and look for a stronger foundation for investment.

Probably Nothing

This is usually a term that is used to incite a discussion or a debate around either a project or an announcement in a polite way. This is usually a way to maybe have deniability as well as discuss and ponder upon a project, for example, “Our Project is looking for some good token launch dates, Probably Nothing.”

Lambo

Symbolizing the dreams and aspirations of many crypto enthusiasts, Lambo is the slang term derived from Lamborghini a luxury car. This term signifies the idea of achieving significant wealth and profit from Crypto investments.

No Coiner

The term is usually used in a derogatory manner to describe a person who is either skeptical or discouraged about the cryptocurrency space. No Coiner directly corresponds to a person who does not own any coin or cryptocurrency. This further implies that the person is missing out on any opportunity offered by Web3 and Crypto Markets.

Vaporwave

Derived from a popular genre of music, “Vaporwave” refers to a cool idea or concept that will not be able to grow to its potential and also to some cryptocurrencies which don't have much utility.

Moon

The term "moons" or "is mooning" in the context of cryptocurrencies refers to a rapid and significant increase in the value of a particular cryptocurrency. It is an expression used to describe a cryptocurrency's price skyrocketing. 

Additionally, people may use the phrase "to the moon" to express their belief or hope that a specific cryptocurrency will experience a substantial price surge.

DYOR - Do your own research

Since Crypto can be a high-risk investment, many projects are highly instrumental and volatile the influential community members usually encourage an individual to do research on a project before taking the final call to invest or not.

SZN

The abbreviation "SZN" stands for "season" in the context of cryptocurrencies. It is used to refer to a particular market cycle or period characterized by specific trends or movements in the cryptocurrency market.

For instance, people might use phrases like "Bitcoin SZN" to indicate a period in which Bitcoin is experiencing significant price movements or market dominance. 

Mint

Minting is regarded as the fundamental step in the creation of digital assets, Mint refers to the process of creating new tokens or NFTs (Non-Fungible Tokens) on a blockchain.

Few

“Few” is used to describe a small number of tokens available or a limited supply of cryptocurrency, The term "few" is used to highlight the exclusivity and potential rarity of the tokens.

Normies

“Normies” is used to refer the individuals who are either very new or not actively engaged in the world of Web3 and Cryptocurrency. While they may be involved in the surface-level activities of the space, they still don’t have the required knowledge regarding the underlying concepts or technologies of the space.

FOMO - Fear of missing out

This is another term that has been repurposed in the Crypto Space from the Web2 World. The Slang implies the fear of potentially missing out on significant price increases in cryptocurrencies or NFT projects arises when individuals fail to make purchases at the opportune moment.

Cope

This is used to describe the failure of buying a Cryptocurrency on the grounds of not FOMOing and then losing out on a big profit. Hence the term Cope comes into play to represent coping with this situation.

Apeing

“Apeing” is the practice of buying or holding a position in a cryptocurrency without doing due diligence. When an investor "apes" others, it means they are blindly following the crowd without conducting their own research or analysis.

Conclusion

Concluding, the above article tried to cover some of the popular slang that goes around the space and helps you to get familiar with them. Though as the space continues to grow so do the phrases that go along with it.

Understanding and embracing this slang can help you navigate the fast and ever-booming environment of the space and also embark upon you a sense of inclusion and familiarity with your surroundings. 

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