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.”

Bitcoin Drops Below $10K After a 7.5% Flash Crash

Siamak Masnavi

According to data from CryptoCompare, around 21:00 UTC on Wednesday (February 19), Bitcoin suffered a 7.5% flash crash, dropping almost $800 in just 45 minutes, as you can see in the 24-hour BTC-USD price chart shown below:

BTC-USD 24 Hour Chart on 20 Feb 2020.png

At 21:00 UTC on Wednesday, Bitcoin was trading at $10,146, and by 21:45 UTC, it had dropped to its intraday low of $9,379, i.e. a loss of $767 in value in less than one hour.

As usual, when Bitcoin fell, the vast majority of altcoins fell also, some (e.g. EOS) suffering an even harder fall.

At press time (around 07:20 UTC on February 20), Bitcoin has recovered somewhat to $9,625. This means that currently Bitcoin's market cap is $175 billion, and Bitcoin Dominance stands at 62.75%. 

Bitcoin's return-on-investment (ROI) figures (against USD) for the past 7-day period, past 30-day period, year-to-date (YTD) period, and  past one-year period are -6.1%, +10.10%, +33.28, and  +139.88%.

The Crypto Fear & Greed Index, which "provides an easy overview of the current sentiment of the Bitcoin / crypto market at a glance", currently has the value 44 (i.e. in the "Fear" territory):

Crypto Fear & Greed Index on Feb 20, 2020

Popular macroeconomist and crypto/trader Alex Krüger took this opportunity to remind traders not to speculate with Bitcoin on high leverage:

As for Josh Rager, another prominent crypto analyst/trader, he offered this bit of technical analysis:


Featured Image by "Pexels" via Pixabay.com