Every important Bitcoin term explained.
Air Gap refers to a security measure to ensure data isolation.
Altcoin stands for 'Alternative Coin' to Bitcoin.
The Austrian School is a heterodox economic thought emphasizing individualism and limited intervention.
A bag holder is someone holding a large quantity of a given cryptocurrency that has been purchased as a part of an investor’s portfolio that has not been sold.
Batching is the process of grouping multiple transactions together.
Bitcoin Improvement Proposals (BIPs) are formal documents that propose changes, enhancements, or additions to the Bitcoin protocol or related processes.
A Bitcoin Address is a unique string of characters used to receive Bitcoin.
Bitcoin Core refers to the primary software implementation of Bitcoin.
A Block Explorer is a tool that allows users to view information within a blockchain.
Block height is a position in a blockchain, counted by the number of confirmed blocks before it.
Block reward refers to the new bitcoins given to miners for validating a new block on the blockchain.
Block size is crucial for the scalability and speed of transactions on the blockchain.
The Bitcoin block subsidy refers to the part of the Bitcoin block reward that is given by the Bitcoin network.
A 'Block' is a collection of transactions in the blockchain.
Bitcoin Carnivores are a small group of Bitcoiners that eat only meat.
Bitcoin Dominance is a metric used to define the share of Bitcoin’s market cap compared to the rest of the crypto market.
CoinJoin is a method used to enhance privacy in Bitcoin transactions.
Deflation refers to the decline in the price of goods and services in an economy.
A Deterministic Wallet generates all its addresses from a single seed.
Difficulty refers to how hard it is to mine a new Bitcoin block.
Instead of Trusting someone who said they sent you crypto, you can Verify whether or not the transaction was completed
Double Spend refers to the act of spending digital currency more than once.
Dust refers to tiny amounts of Bitcoin or other cryptocurrencies left in a user's wallet.
DYOR stands for Do Your Own Research.
A Faucet dispenses small amounts of cryptocurrencies, either for free or in return for simple tasks.
Fiat Currency refers to money issued by a government that isn't backed by physical commodities.
FUD is a form of psychological manipulation based on planting seeds of Fear, Uncertainty, and Doubt in the minds of potential investors.
A Full Node maintains a complete copy of the blockchain.
A 'hard fork' is a major change to a blockchain protocol. It results in two divergent chains: the original and the new one.
A Hardware Wallet is a physical device that securely stores a user's private keys.
HODL became a meme after a user on the Bitcointalk.org forums wrote HODL instead of HOLD.
Initial Block Download (IBD) is the process by which a new node downloads and verifies the entirety of the blockchain history.
Layer 2 refers to a secondary framework or protocol built atop an existing blockchain system.
The Lightning Network is a second layer scaling solution built on top of the Bitcoin blockchain.
Mempool stands for 'Memory Pool'.
A mining pool allows multiple miners to combine their computational power.
A Mixer, also known as a Bitcoin Mixer, is a service to increase the anonymity of Bitcoin transactions.
NGU (Number Go Up) refers to a fundamental characteristic of Bitcoin: that the price is almost always trending up.
Nocoiners don't hold or invest in crypto. They also spread and promote hate speech about Bitcoin and cryptocurrency.
When you have the private key you are responsible for and have complete control over the crypto contained in your wallet. By storing your coins on an exchange, you have to go through them for every transaction.
Precoiners are always on the verge of making their first Bitcoin purchase. They'll always have an excuse as to why they haven't bought yet.
A seed phrase consists of a sequence of 12 to 24 words, generated using cryptographic algorithms.
SegWit2x was a proposed Bitcoin upgrade aiming to increase block size from 1MB to 2MB to address high transaction fees.
Stablecoins are cryptocurrencies that are backed by government currencies, like the US dollar or euro.
Stacking Sats means accumulating small units of Bitcoin, known as satoshis.
Virgin Bitcoin are bitcoins that are purchased directly from miners.