Which Crypto Phrases Will Become Extinct? Industry Experts Weigh In

The world of cryptocurrency is filled with a plethora of unique phrases and hyper-specific terminology that usually has an interesting backstory.

One of the most infamous examples of crypto-jargon, ‘hodl’, arose out of a simple misspelling of the word ‘holding’ on a Bitcointalk.org post way back in December 2013.

But as the cryptocurrency industry continues to ebb and flow, the lexicon changes with it.

Breaker Magazine profiled a list of cryptocurrency experts and enthusiasts who were willing to chime in about what terms and words might stick around in the crypto world, and which ones could be relegated to the dustbin of history.

Commonality Brings People Together

One trend that was seen in a couple of the comments was the idea of commonality. Some thought words that seemed to drive wedges between people would eventually become obsolete.

Po.et CEO Jarrod Dicker noted how “the only terms we’ll remember (or need) are those that bring everyone together.” He asserted how terms like ‘nocoiners’ and ‘bitcoin maximalists’ would eventually disappear.

A somewhat similar sentiment was expressed by cryptocurrency enthusiast Preston Byrne, who predicted ‘nocoiner’ would be gone in the next three to five years. Byrne specifically noted how everyone would own some sort of a coin at this point in time.

Logos Network founder Michael Zochowski pointed out how terminology in the future would probably be emblematic of a more mature ecosystem, one that is going to largely move away from individual investors who are just trying to cash in on short-term gains.

As a result, he speculated that shallow terms, like ‘FUD’ and ‘shill,’ might make their way out of the space.

Are Some Terms Here to Stay?

Despite the difference in opinions, there were a couple of phrases and terms that some seemed to muse would stay around for a while.

Byrne pointed out how the ubiquitous ‘HODL’ had already diversified into other phrases, meaning it would probably stick around for the next five years. BloXroute Labs founder Emin Gun Sirer also said HODL would still be around for the same time frame.

Some, like Blockchain Capital LLC’s Jimmy Song, thought some terms would disappear once people realize how silly the underlying concepts are.

He specifically noted how EEA/Hyperledger “haven’t produced” anything and would go away once it stopped getting funding. Song expressed a similar sentiment for DApps, DPoS, and ICOs, after they “are going to be shown to be massive failures in 10 years’ time.”

Billionaire Novogratz: Altcoins Won't Pump Like In 2017 Bull Run, Bitcoin Will Dominate

It appears that cryptocurrency prices have finally begun to recover after enduring an extended bear market which lasted throughout 2018.

As the market capitalization of Bitcoin (BTC) and other major cryptoassets continues to rise, several analysts have been drawing comparisons between what they’re seeing in the current market and what they observed during the historic bull market of late 2017 and early 2018.

Commenting on the recent crypto market price movements via Twitter, Ran NeuNer, the host of the CNBC Africa Trader show, remarked:

The market is running but we still haven’t seen the crazy alt pumps, pumps where coins do 40% in a day...is it coming?

Bitcoin To “Outperform” All Other Cryptos “This Time”

As the bitcoin price begins to recover, there have been many predictions made regarding the anticipated performance of altcoins. Twitter user “Crypto Bitlord” (@Crypto_Bitlord), a widely-followed digital asset market analyst, believes XRP, which currently has a market cap of around $16.3 billion, may trade as high as $10.

However, prominent crypto investor Michael Novogratz believes that digital asset traders are a lot smarter this time, when compared to some of the bad investment decisions they might have made during the initial coin offering (ICO) craze of 2017.

Novogratz, who’s the founder and CEO of Galaxy Digital, a full-service crypto merchant bank, has predicted that in this market run, Bitcoin will “outperform” all other cryptoassets.

On May 16th, 2019, the Bitcoin price surged to a 2019 high of $8,373 according to CryptoCompare data. In response to bitcoin’s recent price movements, Juan Villaverde, the Chief Analyst at Weiss Crypto Ratings, told CryptoGlobe: 

Bitcoin could fall to as low as $4,400. But [if] it does, it will be the best Bitcoin buying opportunity since 2015.

“More Good News For New Bitcoin Users”

Villaverde, an econometrician and mathematician focused on developing various crypto index models at Weiss Ratings, believes bitcoin would be a great buy at a lower price (as suggested above) because of the following reasons:

  • “The usage of Bitcoin is near all-time highs – 450,000 transactions per day. That’s up from a low of 150,000 in April of 2018 and approaching the all-time high of 490,000 in December of 2017.”
  • “Despite the high transaction volume, fees on the Bitcoin network are at their lowest levels since August of 2017 – more good news for users.”
  • “The Bitcoin block size is now greater than ever before, thanks to the Segwit technology upgrade.”

Villaverde further noted that the predictions are “based on studying the time patterns in Bitcoin's rises and falls throughout its 9 year trading history.” He explained that the time patterns have been analyzed by using an “algorithm-based market cycles model.”

The Chief Analyst at Weiss Ratings also mentioned that the bear market “ended on December 15th 2018 and the model confirmed this shift in trend on March 26th of this year.”

He added:

Then, after the rally that took place starting on April 25th, the same model told me a new bull market was now underway. The same model indicated a 30% to 45% correction due as of late April-early May and we seem to be experiencing that right now.