Cryptocurrency Dictionary Part 2


​​ Bitcoin (BTC)
It’s one of the earliest forms of digital cash that gave strength to the cryptocurrency movement. It saw its creation in 2009 at the hands of an unknown entity (either person or group) that - to this day - goes by the name of Satoshi Nakamoto.

BTFD
It’s an acronym for “Buy The Fucking Dip”. Given that the price of cryptocurrencies swings both up and down, BTFD means you should purchase on the low swings.

Bitcoin ATM (BTM)
A BTM is a machine that lets users exchange standard currencies, like the USD, for Bitcoins and vice-versa.

Bubble
In financial language, a bubble is a very large and continuous growth in the economy or part of it before crashing into a massive and sudden drop. It’s caused by the continuous inflation in the perceived value of an asset that either has no real value or it’s actually less valuable or useful than the market thinks. The crash occurs when the market hits the point of realisation of that fact.

Bull

The term refers to increasing value in any type of financial instrument or asset. A bull trader is a trader which actively buys an asset, thus increasing its price. A bull trend is the continuous increase in the price of an asset.

Bull Trap
It’s the false impression of increasing prices for an asset. It makes bull traders try to purchase the asset before reversing the trend and causing them to lose their invested money.

Byzantine Generals Problem (BGP)
It’s defined as the scenario where individual units are faced with the need to coordinate their actions but can’t trust one another to organise themselves. The difficulties are often indirect communication or a simple lack of trust.

Candlesticks
It’s a type of chart used to represent price changes over a time period. Each candle has 4 different points of data. The thick body represents the prices with which the time lapse opened and closed, and the thin sticks that come out of its extremes show the highest and lowest price that reached during that time.

Capital
It’s both the cash and valuable assets owned by someone. It includes cars, machines, software, buildings, and everything that adds up to an individual’s total wealth.

Cash
It’s physical money that’s either available to a person or stored in a safe place like banks; it can also be represented by a check.

Central Processing Unit (CPU)
It’s commonly and accurately defined as the brains of a computer. It’s what makes all of the parts within a computer work as a system.

Centralised
It’s a type of system that’s controlled by a single entity, person or group.

Chain Split
It’s a break in the blockchain. Ideally, only one block should be recorded at a time, but if a network of users behind a cryptocurrency reach a disagreement regarding block creation, the community may split and create their own paths. That’s how a chain is then split into two branches, each with its own currency. An example of this is the Bitcoin split that resulted in the creation of Bitcoin Cash.



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