Read on Twitter
Web3 and NFT Twitter can be confusing.
Let& #39;s change that.
40 terms that will make you SMARTER—starting today:
Let& #39;s change that.
40 terms that will make you SMARTER—starting today:
First, the very basics:
GM - good morning
GN - good night
FREN - friend
IRL - in real life
GMI - gonna make it
NGMI - not going to make it
WAGMI - we& #39;re all gonna make it
SER - sir, a polite way of disagreeing with someone
WEN - when
GM - good morning
GN - good night
FREN - friend
IRL - in real life
GMI - gonna make it
NGMI - not going to make it
WAGMI - we& #39;re all gonna make it
SER - sir, a polite way of disagreeing with someone
WEN - when
ADDRESS - a string of characters that represents a wallet that can send and receive cryptocurrency
It is like a real-life address or email.
Each address is unique and marks the location of a wallet on the blockchain.
Example: 0x71C7656EC7ab88b098defB751B7401B5f6d8976F
It is like a real-life address or email.
Each address is unique and marks the location of a wallet on the blockchain.
Example: 0x71C7656EC7ab88b098defB751B7401B5f6d8976F
ALPHA - early investment advice or intel
& #39;Where It Happens podcast by @sahilbloom and @gregisenberg is the best source of alpha for success in 2022.& #39; @NDerewlany
& #39;The real alpha in crypto is buy and hold.& #39; @RyanSAdams
& #39;Where It Happens podcast by @sahilbloom and @gregisenberg is the best source of alpha for success in 2022.& #39; @NDerewlany
& #39;The real alpha in crypto is buy and hold.& #39; @RyanSAdams
APEING IN - buying into an NFT project, perhaps without due diligence
& #39;In just 1 day @KarafuruNFT already had 1 sale over 100 ETH, floor rise to 4.2 ETH after reveal ... getting DMs from big names that are apeing in.& #39; @eddyiskongz
& #39;In just 1 day @KarafuruNFT already had 1 sale over 100 ETH, floor rise to 4.2 ETH after reveal ... getting DMs from big names that are apeing in.& #39; @eddyiskongz
BLOCKCHAIN - a decentralized database that maintains a data list that cannot be manipulated
Examples: Bitcoin, Ethereum, Solana, Polkadot, Terra and others.
Examples: Bitcoin, Ethereum, Solana, Polkadot, Terra and others.
BTFD – buy the f& #39;ing dip
When people are running around and selling because a crypto price is dropping hard, this is the time to buy.
"Solana is under $100. BTFD."
When people are running around and selling because a crypto price is dropping hard, this is the time to buy.
"Solana is under $100. BTFD."
BUIDL - build useful stuff
When crypto is dipping, building useful stuff proves that its valuable.
"Eth is crashing, we need more developers to BUIDL."
When crypto is dipping, building useful stuff proves that its valuable.
"Eth is crashing, we need more developers to BUIDL."
CRYPTO - cryptocurrency
A digital currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
Cryptocurrency runs on a blockchain.
Ether is the token that runs on the Ethereum blockchain, Solana runs on Solana etc.
A digital currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
Cryptocurrency runs on a blockchain.
Ether is the token that runs on the Ethereum blockchain, Solana runs on Solana etc.
DAPP - decentralized app
Any practical application of blockchain and/or cryptocurrency.
dApps can take the form of mobile games, communications platforms, and social media sites.
@CryptoKitties is a dApp game that allows users to buy and sell virtual cats.
Any practical application of blockchain and/or cryptocurrency.
dApps can take the form of mobile games, communications platforms, and social media sites.
@CryptoKitties is a dApp game that allows users to buy and sell virtual cats.
DAO - decentralized autonomous organization
The structure for a company or organization in web3.
In a DAO everyone can have ownership and be involved in decision-making.
The structure for a company or organization in web3.
In a DAO everyone can have ownership and be involved in decision-making.
DEGEN - degenerate, a gambler, someone really shooting at all chances, taking extremely high risks
Refers to people who invest in digital assets like NFTs or cryptos without doing due diligence.
Can also mean any person getting in on web3 investments.
Refers to people who invest in digital assets like NFTs or cryptos without doing due diligence.
Can also mean any person getting in on web3 investments.
DEFI - decentralized finance
DeFi is the movement within crypto that removes the control banks and institutions have on money, financial products, and financial services.
It eliminates the fees that banks and other financial companies charge for using their services.
DeFi is the movement within crypto that removes the control banks and institutions have on money, financial products, and financial services.
It eliminates the fees that banks and other financial companies charge for using their services.
DYOR - do your own research
Don& #39;t depend on others. Do your own research before you invest in cryptos, buy NFTs, or get involved with a community.
& #39;DYOR. That& #39;s it, that& #39;s the tweet.& #39; @TrustWallet
Don& #39;t depend on others. Do your own research before you invest in cryptos, buy NFTs, or get involved with a community.
& #39;DYOR. That& #39;s it, that& #39;s the tweet.& #39; @TrustWallet
FIAT - a term for government issued currencies, like the U.S. dollar or Japanese yen
Fiat is used to describe any currency controlled by a central authority.
Cryptocurrencies with their decentralized design, serve as a counterpoint to traditional fiat currencies.
Fiat is used to describe any currency controlled by a central authority.
Cryptocurrencies with their decentralized design, serve as a counterpoint to traditional fiat currencies.
FLOOR - the lowest price available for an NFT in a collection
The minimum amount you need to buy one.
This is an important metric to look at when evaluating an NFT project.
“The floor price on Bored Apes went from 0.5 ETH to 2 ETH in 3 days!”
The minimum amount you need to buy one.
This is an important metric to look at when evaluating an NFT project.
“The floor price on Bored Apes went from 0.5 ETH to 2 ETH in 3 days!”
FOMO - fear of missing out
An emotion of that drives you to make wild decisions.
When an NFT project rises sharply in value and investors buy in because they are afraid to miss the boat.
& #39;Getting off Twitter y’all are giving me FOMO already.& #39; @YaOnlyLivvOnce
An emotion of that drives you to make wild decisions.
When an NFT project rises sharply in value and investors buy in because they are afraid to miss the boat.
& #39;Getting off Twitter y’all are giving me FOMO already.& #39; @YaOnlyLivvOnce
GAS - the fee required to conduct a transaction or execute a contract on the Ethereum blockchain
Gas prices are denoted in small fractions of ether called gwei.
& #39;Gas limit& #39; refers to the maximum amount of gas that you& #39;re willing to spend on a particular transaction.
Gas prices are denoted in small fractions of ether called gwei.
& #39;Gas limit& #39; refers to the maximum amount of gas that you& #39;re willing to spend on a particular transaction.
GENESIS BLOCK - the first block in the blockchain, used to initialize the crypto-currency
GENESIS DROP - an artist& #39;s or project& #39;s first ever NFT drop
& #39;Wormhole, my genesis drop on @SuperRare is now live.& #39; @KalebsCode
GENESIS DROP - an artist& #39;s or project& #39;s first ever NFT drop
& #39;Wormhole, my genesis drop on @SuperRare is now live.& #39; @KalebsCode
HODL - holding on for dear life or holding on despite loss
When a crypto tumbles, loyal investors urge each other to think long term and HODL—not sell their tokens.
& #39;Crypto will make a new generation called billionaires.& #39; #SHIB #HODL @DuncanGray
When a crypto tumbles, loyal investors urge each other to think long term and HODL—not sell their tokens.
& #39;Crypto will make a new generation called billionaires.& #39; #SHIB #HODL @DuncanGray
MAXI - maximalist
Someone who believes that one particular crypto is the only viable one by far and predominantly invests in it.
& #39;I have my fair share of bitcoin, but I’m more of an Ethereum maxi.& #39; @mcuban
Someone who believes that one particular crypto is the only viable one by far and predominantly invests in it.
& #39;I have my fair share of bitcoin, but I’m more of an Ethereum maxi.& #39; @mcuban
MINT - the creation of a new NFT token
Minting is the process of turning a digital file into a crypto collectible or digital asset on the Ethereum blockchain.
& #39;981 NFTs already minted
419 left
Mint your BabyShiba NFT now& #39; @babyshibacoinio
Minting is the process of turning a digital file into a crypto collectible or digital asset on the Ethereum blockchain.
& #39;981 NFTs already minted
419 left
Mint your BabyShiba NFT now& #39; @babyshibacoinio
NFT - non fungible token
An NFT is a digital asset that confers ownership of a virtual good, such as a piece of digital artwork or online collectible.
Most cryptocurrencies are “fungible”, meaning there is no meaningful distinction between one coin and another.
An NFT is a digital asset that confers ownership of a virtual good, such as a piece of digital artwork or online collectible.
Most cryptocurrencies are “fungible”, meaning there is no meaningful distinction between one coin and another.
P2E - play to earn, as in video games like @AxieInfinity
PFP - picture for proof or profile pic like @crypto_coven
POAP - proof of appearance protocol from @poapxyz
PFP - picture for proof or profile pic like @crypto_coven
POAP - proof of appearance protocol from @poapxyz
PROBABLY NOTHING - often used sarcastically to mean the opposite. It probably is something.
Can also refers to the Probably Nothing podcast by @alexisohanian and @TZhongg.
Can also refers to the Probably Nothing podcast by @alexisohanian and @TZhongg.
SATOSHI -
1. a reference to Satoshi Nakomoto, the anonymous founder of Bitcoin who vanished shortly after his creation, leaving the project to be decentralized and collectively managed
2. a unit of exchange, the smallest part of a bitcoin. 1 Satoshi = 0.00000001 ฿
1. a reference to Satoshi Nakomoto, the anonymous founder of Bitcoin who vanished shortly after his creation, leaving the project to be decentralized and collectively managed
2. a unit of exchange, the smallest part of a bitcoin. 1 Satoshi = 0.00000001 ฿
SHILL – the act of unsolicited endorsing in public
You& #39;re shilling if you& #39;re promoting an NFT you& #39;re dropping or a coin you’ve invested in.
“Shill me your best NFT under 1 ETH.”
You& #39;re shilling if you& #39;re promoting an NFT you& #39;re dropping or a coin you’ve invested in.
“Shill me your best NFT under 1 ETH.”
WALLET - a place to store crypto tokens
HOT WALLETS are online and easily accessible but also more susceptible to hackers.
COLD WALLETS store digital assets off-line, making them secure from bad actors but difficult to trade.
Examples: @MetaMask, @phantom, @CoinbaseWallet
HOT WALLETS are online and easily accessible but also more susceptible to hackers.
COLD WALLETS store digital assets off-line, making them secure from bad actors but difficult to trade.
Examples: @MetaMask, @phantom, @CoinbaseWallet
RESOURCES:
1. An in-depth glossary of crypto/web3 terms: https://coinmarketcap.com/alexandria/glossary">https://coinmarketcap.com/alexandri...
1. An in-depth glossary of crypto/web3 terms: https://coinmarketcap.com/alexandria/glossary">https://coinmarketcap.com/alexandri...
Inspo for this tweet from @blakeaburge @punk6529 @chriscantino
These are just some of the key terms in web3. Please add on to the list.
These are just some of the key terms in web3. Please add on to the list.
Please share by retweeting the first tweet, and help more people find their way into web3.
I write regularly about the future, web3 and living your best life.
You can follow me @MishadaVinci
I write regularly about the future, web3 and living your best life.
You can follow me @MishadaVinci
For more in-depth writings on the future and web3 signup for my newsletter 
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Forgot this one (thx @SSokoliuk):
RUGGED - scammed
"Rugged” or “rug” comes from “getting the rug pulled out from underneath you.”
In crypto or NFT slang it means getting scammed.
"I got rugged AGAIN - you& #39;d think I& #39;d learn to stop buying into NFTs that are & #39;coming soon.& #39;"
RUGGED - scammed
"Rugged” or “rug” comes from “getting the rug pulled out from underneath you.”
In crypto or NFT slang it means getting scammed.
"I got rugged AGAIN - you& #39;d think I& #39;d learn to stop buying into NFTs that are & #39;coming soon.& #39;"
