Understanding crypto slang: Wen moon, rekt, rugged, flippening and NFA

One Moon, Rectangle, Rugged, Flipping and Off

by CNBCTV18.com IST (updated)

mini

Here are the five common terms in the vernacular that make the rounds in the cryptosphere, explained:

For someone new to coding, understanding podcasts, forum discussion boards, and explainer articles can be a bit tricky. There are a lot of coding terms circulating around, and they can all seem like strange concepts to those who don’t know them. Fortunately, most of these terms have simple explanations, and with proper guidance, you can navigate this sea of ​​crypto terms quite easily. With that in mind, we have listed and explained five common slang terms that are making the rounds in the crypto world these days.

one mon

The term “Win Moon” is a very common crypto slang. It became popular in 2017 when bitcoin prices were swinging. Crypto enthusiasts mocked the sharp rise in prices, saying that Bitcoin was targeting the moon. Since then, the term has been used and adapted to many circumstances.

For example, almost every investor these days probably watches cryptocurrency charts and wonders, Win Moon. This means that investors are waiting for the bulls to outpace the bears and send cryptocurrency prices back to the moon.

Win Moon also has some popular branches, one of which is Win Lambeau. This phrase originated from a trend where successful cryptocurrency investors are buying a Lamborghini with their profits. Therefore, the term wen Lambo is a way of asking someone when they will become rich by selling their cryptocurrency holdings.

Rect

Rekt stems from the word shattered. It is used to identify a completely destroyed crypto investor or venture. It can also be used to describe a significant financial loss. For example, the collapse of Terra Luna led many investors to reconstitute after its price fell to $0. Rekt can also be used in the crypto gaming arena, to describe a player who has been defeated by a large margin.

bumpy, rough, tough

In a way, the rugged one is very similar to the rekt. Describes a person or group of people who have been tricked by pulling the rug out. Pulling the rug is a type of scam where bad actors set up fake Crypto, Web3 or NFT projects and hold fundraising events for these fraudulent networks.

Of course, once they collect enough money, they run away with the investors’ money. It feels like the rug was quickly ripped out from under your feet, hence the name. Now, when someone falls prey to such fraud, it is known to be solid.

flipping

This term appeared a lot before and after the Ethereum merger. It refers to a hypothetical situation where the market capitalization of Ethereum exceeds that of Bitcoin. In the process, ETH will replace BTC as the largest cryptocurrency by market capitalization. The market value of a cryptocurrency is the circulating supply multiplied by the current market price of the cryptocurrency in question.

Currently, BTC ranks first in terms of market capitalization, with Ethereum a distant second. Many believe that the Ethereum consolidation will help the network to surpass BTC in terms of market capitalization, turning the scenario on its head.

NFA

Cryptocurrency markets are highly volatile. As such, no one can predict future prices with absolute certainty. Despite this, many crypto experts periodically suggest currencies that they believe will rise in the coming weeks or months. It is important to note that these suggestions are just opinions and not 100% facts. It can cause people to invest in projects that may eventually lead to collapse or loss of value.

In such cases, investors can hold the experts responsible for their losses. Therefore, to protect themselves from lawsuits, most influencers and popular crypto investors use the term “not financial advice” or NFA in their videos, articles, and tweets. This tells people that currency suggestions are just opinions, not something you should base your entire investment strategy on.

Doing Your Own Research (DYOR) is another such caveat. It tells people not to make their investment decisions based on the advice of a single expert or blog. Instead, one must dig deeper into the projects before putting money behind them.

#Moon #Rectangle #Rugged #Flipping

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