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Beginner Guide Common Crypto Terms and Abbreviations

Discussion in 'Beginner's Bootcamp' started by xyzzy, Jul 17, 2017.

  1. xyzzy

    xyzzy Master of None Staff Member Super Admin

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    I like that a lot haha, although I think originally "hodl" became a meme after an infamous "viral" Bitcointalk thread where the OP misspelled "hold".
     
  2. Helga Bjarni

    Helga Bjarni Scholar

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    Wonderful Information, i gained a lot
     
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  3. joannei boyce

    joannei boyce Contributor

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    You are so funny person :p
     
  4. Jelley

    Jelley Contributor

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    Ha! That what i was looking for!
     
  5. Catherine Davis

    Catherine Davis Contributor

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    [Tips] How To Protect Your Crypto Holdings With A Private Wallet

    With all the hype building up around cryptocurrencies, there’s real danger building up around illegal hacking and thievery on wallets. Many exchanges across the globe have been victims to stolen funds — some as high as $500 million only recently on Coincheck and Bitgrail.
    Why does this happen? Because you’re never truly owning your coins when you leave them at the exchange. The security here is only as strong as the exchange’s best practice.
     
  6. Bithemoth

    Bithemoth Contributor

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    wow great thread for those who are relatively new to the cryptosphere
     
  7. GODcoin

    GODcoin Contributor

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    Sweeeet guide, xyzzy. This should be mandatory reading before signing up and posting on these forums. Lol!
     
  8. spindle.ico

    spindle.ico Contributor

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    Wow, so much useful phrases) As for me the most confusing is the Pump & Dump Scheme
     
  9. JohnChart

    JohnChart Contributor

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    Why everyone crazy about bitcoin
     
  10. angy

    angy Contributor

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    Hi do You now when CoinDeal will start with new cryptocurrences?
     
  11. Lisam023

    Lisam023 Contributor

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    Hi! Thanks for being so helpful :)
     
  12. crownglow

    crownglow Contributor

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    I'm familiar with some of them. Thanks for sharing these Crypto Terms.
     
  13. ICODA

    ICODA Scholar

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    I am still have a lot of questions...
     
  14. ICODA

    ICODA Scholar

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    Great, thanks!
     
  15. jitenrajput

    jitenrajput Contributor

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    That's truly informative. I have got a few more:

    block - A group of Bitcoin transactions that have taken place during a specific time period. The average is around 10 minutes. Miners process Bitcoin transactions not one-by-one but in groups or “blocks”.

    wallet address - A string of letters and numbers that people use to send bitcoin to or from. A bitcoin address is shared from one user to another user so that they can send you Bitcoin. Likewise, if you want to send bitcoin to someone you will need their address (obtained from their wallet).

    multi-sig - These are bitcoin transactions that require authorizing signatures from multiple parties.

    hot wallet - Any Bitcoin wallet running on an internet-connected device is considered “hot” (as opposed to an offline or “cold” wallet). Hot wallets should be secured by users since the funds on these wallets are subject to security compromise from hostile users on the network.

    paper wallet - An offline, cold storage, wallet where private key(s) are printed on a piece of paper or manually attached to some other physical medium for offline storage. This is one of the most secure ways of holding a cryptocurrency.

    Hope this helps! Sorry if I have to repeat any.
     
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  16. ICODA

    ICODA Scholar

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    This is also nice to know. New knowledge is always good idea!
     
  17. elifkhan486

    elifkhan486 Scholar

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    dude thanks so much, this really helps, its annoying having to always google these words
     
  18. Jaicryptoexpert

    Jaicryptoexpert Beginner

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    visit bitfeu for more amazing blogs
     
  19. jcguy777

    jcguy777 Contributor

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    Didn't know what HODL meant. Now I can use this short-cut with uncertain terms in the bearish bitcoin market.
     
  20. greta85

    greta85 Scholar

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    thank you for sharing your knowledge. thanks to people like you world becomes a better place!
    still do not understand this HODL... another thing is the ONION coin? is the real crypto currency?
    so many questions at the beginning.

    and maybe can you post something about the decentralized core wallet? futurocoin offer this kind of wallet to download, my friend recommend me that because of safety. any advice? xoxo, greta
     

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