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What Is Opportunity Cost

Learn more about crypto with this collection

The impact of opportunity cost on personal and professional life

Evaluating the benefits and drawbacks of different choices

Understanding the concept of opportunity cost

What Is Opportunity Cost

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Mining Rig

A computer being used for mining. A mining rig could be a dedicated piece of hardware for mining, or a computer with spare capacity that can be used for other tasks, only mining part time.

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102 reads

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Algorithm & Algorithmic Stablecoin

Algorithm:

  • A process or set of rules to be followed in problem-solving or calculation operations, usually by a computer, although humans tend to follow steps algorithmically as well (let’s say doing math or following a recipe).

Algorithmic Stablecoi...

240

803 reads

Gas Limit & Gas Price & Gwei

Gas Limit:

  • A term used on the Ethereum platform that refers to the maximum amount of gas the user is willing to spend on a transaction.

Gas Price:

  • A term used on the Ethereum platform that refers to the price you are willing to p...

239

133 reads

Whitelist

A list of interested participants in an initial coin offering, who registered their intent to take part or purchase in a sale.

238

114 reads

Bitcoin ATM (BTM)

An automated teller machine (ATM or cashpoint) that allows the user to buy and sell Bitcoin.

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613 reads

Network

A network refers to all nodes in the operation of a blockchain at any given moment in time.

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112 reads

All-Time-High (ATH) & All-Time-Low (ATL)

All-Time-High (ATH):

  • The highest point (in price, in market capitalization) that a cryptocurrency has been in history.

All-Time-Low (ATL):

  • The lowest point (in price, in market capitalization) that a cryptocurrency has been in hi...

237

745 reads

ERC-20 & ERC-721

ERC-20:

  • Tokens designed and used solely on the Ethereum platform.

ERC-721:

  • A token standard for non-fungible Ethereum tokens. An Ethereum Improvement Proposal introduced in 2017, it enables smart contracts to operate as tradeable...

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215 reads

Market

An area or arena, online or offline, in which commercial dealings are conducted. Usually referred to as the “crypto market,” which refers to the cumulative cryptocurrencies and projects operating within the industry.

238

129 reads

REKT

A shorthand slang for “wrecked,” describing a bad loss in a trade.

238

105 reads

Node

The most basic unit of blockchain infrastructure that stores data.

238

100 reads

SHA-256

A cryptographic hash function that generates a 256-bit signature for a text, used in Bitcoin proof-of-work (PoW).

238

113 reads

Centralized Exchange (CEX)

Centralized exchanges (CEXs) are a type of cryptocurrency exchange that is operated by a company that owns it in a centralized manner.

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346 reads

Buy The (F*******) Dip (BTD/BTFD)

An enthusiastic exclamation by supporters of a cryptocurrency to buy while prices are at a low point.

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565 reads

Mining Reward

The reward resulting from contributing computing resources to process transactions. Mining rewards are usually a mix of newly-minted coins and transaction fees.

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103 reads

Central Ledger

A central ledger is a physical book or a computer file used to record transactions in a centralized manner.

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398 reads

BEP-2 (Binance Chain Tokenization Standard) & BEP-20

BEP-2 (Binance Chain Tokenization Standard):

  • A technical standard for tokens on Binance Chain.

BEP-20:

  • BEP-20 is a Binance Smart Chain token standard created with the intention of extending ERC-20.

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716 reads

Decentralized

Decentralized:

  • Decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal.

Decentralized Applications (DApps):

  • A type of application that runs on...

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271 reads

Whitepaper

A document released by a crypto project that gives investors technical information about its concept, and a roadmap for how it plans to grow and succeed.

239

125 reads

Virgin Bitcoin

A bitcoin that has never been spent.

238

104 reads

Stablecoin

A cryptocurrency with extremely low volatility, sometimes used as a means of portfolio diversification. Examples include gold-backed cryptocurrency or fiat-pegged cryptocurrency.

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113 reads

Wallet

A place where cryptocurrency users can store, send and receive digital assets.

238

96 reads

Coinbase

In mineable cryptocurrencies, a coinbase is the number of coins that are generated from scratch and awarded to miners for mining every new block.

238

347 reads

Think Long Term (TLT)

A mindset where you have a longer-term investment horizon of months to years.

238

108 reads

Gas

A term used on the Ethereum platform that refers to a unit of measuring the computational effort of conducting transactions or smart contracts, or launch DApps in the Ethereum network. It is the “fuel” of the Ethereum network. *see Gas Limit and Gas Price.

238

145 reads

Graphical Processing Unit (GPU)

More commonly known as a graphics card, it is a computer chip that creates 3D images on computers, but has turned out to be efficient for mining cryptocurrencies.

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135 reads

Open Source

Open source is a philosophy, with participants believing in the free and open sharing of information in pursuit of the greater common good.

238

116 reads

Decentralized Autonomous Organizations (DAO):

  • A decentralized autonomous organization (DAO) is founded upon and governed by a set of computer-defined rules and blockchain-based smart contracts.

Decentralized Exchange (DEX):

  • A pee...

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206 reads

Centralized

A centralized organizational structure is one in which a single node or a small number of them are in control of an entire network.

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323 reads

Protocol

The set of rules that define interactions on a network, usually involving consensus, transaction validation, and network participation on a blockchain.

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99 reads

QR Code

A machine-readable label that shows information encoded into a graphical black-and-white pattern. For cryptocurrencies, it is often used to easily share wallet addresses with others.

238

104 reads

Deflation

A decline in the general level of prices for goods and services in an economy.

239

305 reads

Mining

A process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created.

238

108 reads

Gains

Gains refer to an increase in value or profit.

238

139 reads

API

API stands for Application Programming Interface. It is a set of routines, protocols, and tools for building software applications. 

APIs specify how software components should interact, such as what data to use and what actions should be taken.

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1.36K reads

Volume

How much cryptocurrency has been traded over a set period, such as the past 24 hours.

238

105 reads

Blockchain

A distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies.

270

3.25K reads

ROI

Short for “Return on Investment,” the ratio between the net profit and cost of investing.

238

107 reads

Burned

Cryptocurrency tokens or coins are considered “burned” when they have been purposely and permanently removed from circulation.

237

609 reads

Moon

A situation where there is a continuous upward movement in the price of a cryptocurrency. Often used in communities to question when a cryptocurrency will experience such a phenomenon, saying “When moon?” It is usually combined with “When Lambo?”

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112 reads

Shitcoin

A coin with no obvious potential value or usage.

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108 reads

Dip

A dip is when markets experience a short or protracted downturn.

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236 reads

Satoshi Nakamoto

The individual or group of individuals that created Bitcoin. The identity of Satoshi Nakamoto has never been confirmed.

Dorian Nakamoto is a Japanese-American physicist who some believe to be Satoshi Nakamoto.

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120 reads

Margin Trading

A practice where a trader uses borrowed funds from a broker to trade a cryptocurrency, which forms the collateral for the loan from the broker. It can be relatively risky for inexperienced traders who may receive a margin call if the market moves in the opposite direction of their trades. * Margi...

238

126 reads

Escrow

A financial instrument where assets or cash are held by a third party while a buyer and a seller complete a deal.

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249 reads

Pyramid Scheme

A pyramid scheme is a scam with a hierarchical top-down structure.

239

105 reads

Central Processing Unit (CPU)

A central processing unit (CPU) is the part of a computer that is in charge of interpreting and executing programs and coordinating the work of all other components.

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344 reads

DeFi

A movement encouraging alternatives to traditional, centralized forms of financial services.

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359 reads

Scrypt

An alternative proof-of-work (PoW) algorithm to SHA-256, used in Bitcoin mining. Scrypt mining relies more heavily on memory than on pure CPU power, aiming to reduce the advantage that ASICs have and hence increasing network participation and energy efficiency.

238

106 reads

Sell Wall

A situation where a large limit order has been placed to sell when a cryptocurrency reaches a certain value.

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111 reads

Shilling

The act of enthusiastically promoting a cryptocurrency or ICO project.

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107 reads

Validator

A participant on a proof-of-stake (PoS) blockchain, involved in validating blocks for rewards.

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99 reads

Ether

The form of payment used in the operation of the distribution application platform, Ethereum, in order to incentivize machines into executing the requested operations.

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233 reads

Ethereum Improvement Proposal (EIP)

Ethereum Improvement Proposals (EIPs) describe standards for the Ethereum platform, including core protocol specifications, client APIs, and contract standards.

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204 reads

Ethereum Transaction

Ethereum transaction are cryptographically signed instructions to initiate a transaction to update the state of the Ethereum network.

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204 reads

Ethereum Virtual Machine (EVM)

A Turing-complete virtual machine that enables execution of code exactly as intended; it is the runtime environment for every smart contract. Every Ethereum node runs on the EVM to maintain consensus across the blockchain.

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185 reads

Minecraft

Minecraft is a video game where players can essentially create and break apart different kinds of blocks in a three-dimensional world.

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134 reads

Miners

Contributors to a blockchain taking part in the process of mining. They can be professional miners or organizations with large-scale operations, or hobbyists who set up mining rigs at home or in the office.

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112 reads

Option

A contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price.

239

106 reads

Options Market

A public market for options, giving the buyer an option to buy or sell a cryptocurrency at a specific strike price, on or before a specific date.

238

112 reads

Satoshi (SATS)

The smallest unit of bitcoin with a value of 0.00000001 BTC.

238

123 reads

Address

A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers.

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1.83K reads

Central Bank Digital Currency

CBDCs are digital currencies issued by a central bank whose status as legal tender depends on government regulation or law.

237

409 reads

Slippage

Slippage happens when traders have to settle for a different price than what they initially requested due to a price movement.

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105 reads

Smart Contract

A smart contract is a computer protocol intended to facilitate, verify or enforce a contract on the blockchain without third parties.

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116 reads

Fiat

Fiat currency is “legal tender” backed by a central government, such as the Federal Reserve, and with its own banking system, such as fractional reserve banking. It can take the form of physical cash, or it can be represented electronically, such as with bank credit.

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166 reads

Fish

A fish, or minnow, is someone who holds insignificant amounts of cryptocurrencies, often at the mercy of whales who move the market up and down. *see Dolphin and Whale.

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175 reads

Mineable

Some cryptocurrencies have a system through which miners can be rewarded with newly-created cryptocurrencies for creating blocks through contributing their hash power. Cryptocurrencies with this ability to generate new cryptocurrencies through the process of confirmation is said to be mineable. *...

238

115 reads

Altcoin & Altcoin

Altcoin:

  • As Bitcoin is the first cryptocurrency that captured the world’s imagination, all other coins were subsequently termed “altcoins,” as in “alternative coins.”

Altcoin Trader:

  • A person who trades cryptocurrencies alternati...

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779 reads

Flipping

An investment strategy (mostly popularized by real estate investing) where you buy something with the goal of reselling for a profit later, usually in a short period of time. In the context of ICOs, flipping refers to the strategy of investing in tokens before they are listed on exchanges, then q...

238

139 reads

Peer-to-Peer (P2P)

The decentralized interactions between parties in a distributed network, partitioning tasks or workloads between peers.

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106 reads

Portfolio

A collection of cryptocurrencies or crypto assets held by an investment company, hedge fund, financial institution or individual.

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101 reads

Transaction Fee

A payment for using the blockchain to transact.

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92 reads

Bull & Bull Trap

Bull:

A person that is optimistic and confident that market prices will increase, this person is also known to be "bullish" about the market or price.

Bull Trap:

A bull trap occurs when a steadily declining asset appears to reverse and go upward...

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524 reads

ASIC & ASIC-Resistant

ASIC:

  • An acronym for application - specific integrated circuit - a device designed for the sole purpose of mining cryptocurrencies.

ASIC-Resistant:

  • This term usually applies to blockchains and mining algorithms, ...

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1.04K reads

Capital

Capital is most commonly defined as the large sum of money you would use to invest.

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494 reads

When Moon

A phrase used to ask when the price of cryptocurrencies will explode.

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110 reads

HODL

A type of passive investment strategy where you hold an investment for a long period of time, regardless of any changes in the price or markets. The term first became famous due to a typo made in a Bitcoin forum, and the term is now commonly expanded to stand for “Hold On for Dear Life.”

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136 reads

Cash

Cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term.

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437 reads

Minimum Viable Product (MVP)

A minimum viable product (MVP) is a product that has enough features to attract early-adopter customers and validate a product idea.

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112 reads

Yield Farming

Yield farming involves earning interest by investing crypto in decentralized finance markets.

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134 reads

MetaMask

An online digital wallet that allows users to manage, transfer and receive Ethereum, operating as an extension to a regular browser.

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130 reads

Gavin Wood

Gavin Wood is the co-founder of Parity Technologies, and one of the founders of Ethereum.

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139 reads

Bear

Someone who believes that prices in a given market will decline over an extended period. Such a person might be referred to as “bearish.”

What Is a Bear?

While a bear is an individual who is cautious or pessimistic, the related term “bear market” describes a market th...

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560 reads

Token

A digital unit designed with utility in mind, providing access and use of a larger crypto economic system. It does not have a store of value on its own, but is made so that software can be developed around it.

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101 reads

Watchlist

A watchlist is a feature of the website where users can create their own lists of cryptocurrencies to follow. Alternative definition A watchlist is a set of pages a user has selected to monitor for changes.

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93 reads

Whale

A term used to describe investors who have uncommonly large amounts of crypto, especially those with enough funds to manipulate the market.

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100 reads

Dolphin

Someone with a moderate holding of cryptocurrency.

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277 reads

Dump & Dumping

Dump - A sudden sell-off of digital assets.

Dumping - A collective market sell-off that occurs when large quantities of a particular cryptocurrency are sold in a short period of time.

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221 reads

Margin Call

When an investor’s account value falls below the margin maintenance amount. The broker will then demand that the investor deposit additional money or securities to meet the minimum required maintenance amount to continue trading.

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144 reads

Exchange & Exchange Traded Fund (ETF)

Exchange:

  • Cryptocurrency exchanges (sometimes called digital currency exchanges) are businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies.

Exchange Traded Fund (ETF):

  • A security that ...

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164 reads

Mining Pool

A setup where multiple miners combine their computing power to gain economies of scale and competitiveness in finding the next block on a blockchain. Rewards are split according to different agreements, depending on the mining pool. Another term for this is Group Mining.

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96 reads

Total Supply

The total amount of coins in existence right now, minus any coins that have been verifiably burned. *see Circulating Supply and Max Supply.

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95 reads

Mining Contract

Another term for cloud mining, where users can rent or invest in mining capacity online.

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110 reads

Pump and Dump (P&D) Scheme

A form of securities fraud involving the artificial inflation of the price of a cryptocurrency with false and misleading positive statements in order to sell previously-cheaply purchased stock at a higher price.

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104 reads

Staking

Participation in a proof-of-stake (PoS) system to put your tokens in to serve as a validator to the blockchain and receive rewards.

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106 reads

Block

A file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain.

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597 reads

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