General
The crypto community: a dynamic meeting place full of possibilities
Are you a Maximalist Bitcoiner or a Degen risk-taker? Although you might have a bit of both…
- The crypto sphere is exciting, innovative, and full of surprises. It’s not just about blockchain technology and advanced tools, like the highly useful ones provided by DEXTools. It’s also driven by the support of a robust community, fueled by the input of individuals who join forces to participate in an ecosystem teeming with opportunities and constant change.
- We’ll talk about the main groups of crypto enthusiasts in this same article shortly. But first we encourage you to engage with the growing DEXTools community, which already has over 20,000 members. Participate, share ideas, find support and learn! Join our Telegram group here:
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We explain you all in this recent article.
Get to know some crypto tribes and how they behave.
Let’s now delve into the different kinds of crypto users and the communities they’re part of, particularly Bitcoin enthusiasts and Degens. We’ll explore their specific behaviors, preferences, and trading habits. Want to know more about them? Let’s get to it!
Bitcoiners: The OGs (Original Gangsters) of Crypto
- Bitcoiners are the original proponents of cryptocurrency, staunch believers in the principles of decentralization, censorship resistance, and financial sovereignty embodied by Bitcoin. They prioritize safety and stability, viewing Bitcoin as the ultimate store of value similar to digital gold. They emphasize security and long-term holding over short-term gains.
- Bitcoiners see Bitcoin not just as a digital currency but as a revolutionary tool for reshaping the global financial system.
- They are active in communities like r/Bitcoin on Reddit, Bitcoin Talk forums, and Bitcoin-focused Telegram groups, where discussions revolve around Bitcoin’s technology, adoption, and its role in challenging traditional financial institutions.
Degens: The Adventurers of DeFi
- In contrast to Bitcoiners’ maximalist and conservative approach, Degens are adrenaline-fueled adventurers at the forefront of Decentralized Finance (DeFi) and alternative cryptocurrencies (altcoins).
- Degens’ trading habits are characterized by a short-term focus, with frequent buying and selling of assets to capitalize on market movements.
- Unlike Bitcoiners, who prioritize security and stability, Degens are more willing to take risks and experiment with new and untested projects. They engage in activities like yield farming, liquidity providing, and participating in initial coin offerings (ICOs) and airdrops, in search of lucrative returns.
- Degens are active participants in Telegram groups like Crypto Degenz and Discord channels, where they share trading strategies, discuss the latest DeFi projects, and hunt for the next moonshot investment.
Different points of view with a common goal: transforming the financial future
- Beyond these core pillars are countless other communities, from Ethereum enthusiasts pushing the boundaries of smart contracts to NFT collectors redefining the concept of digital property. Moving on to gaming communities, crypto Education and Support groups of all kinds, and even complex Decentralized Autonomous Organizations (DAOs), whose members take care that the governance of the organization works finely tuned.
- Despite their disparate interests and goals, all these groups are bound together by a shared passion for cryptocurrencies and a collective vision of a decentralized future. Together, they form a rich tapestry of collaboration, experimentation and growth, driving forward the transformative potential of blockchain technology.
Below, we explain 12 terms widely used by degens and, in general, by cryptocurrency enthusiasts worldwide. Some of them may be familiar to you. While the list is extensive, we’ll highlight a few here.
12 crypto slang terms widely used by degens… and other crypto tribes
1-FOMO: or “Fear Of Missing Out” epitomizes the anxiety experienced by investors witnessing others profit from an investment. This fear often triggers impulsive decisions to buy into an asset, even at inflated prices, driven by the fear of missing out on potential gains.
2-FUD: short for “Fear, Uncertainty, and Doubt”, characterizes negative sentiment and baseless rumors deliberately spread in the crypto world. FUDsters employ various tactics, including trolling and misrepresentation, to sow doubt and drive down cryptocurrency prices, sometimes with the intent to manipulate the market.
3-REKT: a playful term derived from “wrecked”, humorously describes the significant losses suffered by traders or investors in their crypto investments. It’s a testament to the unpredictable nature of crypto trading, where fortunes can quickly turn.
4-FLOOR IS LAVA: serves as a cautionary reminder of market volatility, urging traders to tread carefully and make informed decisions. Just like in the game of the same name, where players avoid touching the “lava”, traders must navigate the volatile market landscape to avoid potential pitfalls.
5-BAGHOLDER: refers to investors left holding devalued assets after their value has plummeted. While emotionally challenging, it’s essential for investors to recognize when it’s prudent to cut their losses rather than cling to sinking investments.
6-LASER EYES: Often adopted by influential figures in the crypto community, who change their social media profile pictures to show themselves with lasers shooting out of their eyes, as a symbol of bullish sentiment towards cryptocurrencies.
7-WEAK HANDS: describe investors easily swayed by market volatility, prone to panic selling at the slightest downturn. These investors contribute to market instability and are often driven by short-term fears rather than long-term conviction.
8-DIAMOND HANDS: represent steadfast investors who weather market fluctuations with unwavering conviction. Like the durability of diamonds, they hold onto their investments through thick and thin, undeterred by short-term losses.
9-IYKYK: an acronym for “if you know, you know,” alludes to insider knowledge or insights understood only by experienced individuals. It implies a level of understanding beyond the surface, often shared among seasoned participants in the crypto community.
10-APES: describe investors who aggressively pursue high-risk investments without considering long-term implications. Targeting altcoins with low market caps, these investors are willing to take significant risks in pursuit of potential rewards.
11-WAGMI: it means “We’re all gonna make it”. It expresses optimism and unity within the cryptocurrency community, implying collective success in investments. This term fosters a positive outlook and solidarity among enthusiasts.
12-NGMI: an acronym for “not gonna make it”. It’s used to predict failure due to bad decisions, like selling at a token’s low point despite signs of growth. It’s also used to mock those against crypto or who don’t understand it. It symbolizes skepticism and ridicule for missed opportunities in trading.
And that’s it. Have you learned a little more about the crypto tribes?
- If you’re keen on discovering more interesting crypto words, we encourage you to check out our glossary here! You can access more than 300 available terms of all kinds.
- Again, we remind you that you can join our vibrant Telegram community here!
Thanks for your support and happy trading!
