The Problem With Web3’s Word Soup
You’re at a party. Someone mentions they work in Web3. You nod knowingly, then they start speaking what sounds like English but makes no sense: “Yeah, I’m yield farming on a new DEX, but the APY dropped after some whales dumped, so I’m aping into a new project. DYOR though, lots of rugs lately.”
Your brain: “…what?”
Web3 has more jargon per square inch than a medical textbook. But here’s the secret: Most of these terms are simple concepts with fancy names. It’s like calling a sandwich an “artisanal bread-enclosed protein delivery system” – sounds complex, but you already understand sandwiches.
The Foreign Language Analogy
Learning Web3 terminology is like learning travel phrases:
Tourist Level: Know enough to order coffee and find the bathroom
Conversational Level: Can chat with locals, understand context
Fluent Level: Think in the language, make jokes
You don’t need fluency. You need tourist-level Web3 speak to navigate confidently. Let’s learn the 20 most important phrases.
The Essential 20: Your Web3 Phrasebook
1. HODL
What They Say: “Just HODL through the dip!”
What It Means: Hold On for Dear Life (originally a typo for “hold”)
Real Translation: Don’t panic sell when prices drop
Use It: “I’m HODLing my Bitcoin until 2030”
2. FOMO
What They Say: “Don’t FOMO in at the top!”
What It Means: Fear Of Missing Out
Real Translation: Buying because everyone else is (usually bad)
Use It: “I FOMOed into Dogecoin at 70 cents”
3. FUD
What They Say: “Ignore the FUD, focus on fundamentals”
What It Means: Fear, Uncertainty, and Doubt
Real Translation: Negative news/rumors (sometimes true, sometimes not)
Use It: “The media is spreading FUD about crypto again”
4. Whale
What They Say: “A whale just moved 1000 Bitcoin”
What It Means: Someone with huge crypto holdings
Real Translation: Rich person who can move markets
Use It: “That price dump was just whale manipulation”
5. Diamond Hands 💎🙌
What They Say: “Diamond hands since 2017!”
What It Means: Holding despite massive volatility
Real Translation: Not selling no matter what
Use It: “These diamond hands never sell”
6. Paper Hands 📄🙌
What They Say: “Paper hands got shaken out”
What It Means: Selling at first sign of trouble
Real Translation: Weak conviction, panic sellers
Use It: “Don’t be paper hands”
7. Ape/Aping
What They Say: “I aped into that new token”
What It Means: Buying without proper research
Real Translation: YOLO investing (usually dumb)
Use It: “Never ape into anonymous projects”
8. Moon/Mooning 🚀
What They Say: “When moon?” “It’s mooning!”
What It Means: Massive price increase
Real Translation: Going up fast (or hoping to)
Use It: “My portfolio is mooning today”
9. Rekt
What They Say: “Got rekt on that trade”
What It Means: Wrecked – lost lots of money
Real Translation: Seriously bad loss
Use It: “Leverage trading got me rekt”
10. Pump and Dump
What They Say: “Classic pump and dump scheme”
What It Means: Artificial price inflation then crash
Real Translation: Coordinated scam
Use It: “That celebrity coin was a pump and dump”
11. Shill
What They Say: “Stop shilling your bags”
What It Means: Aggressively promoting for personal gain
Real Translation: Biased marketing
Use It: “Influencers shilling random coins”
12. Bags/Bag Holder
What They Say: “Still holding these heavy bags”
What It Means: Coins bought at higher prices
Real Translation: Underwater investment
Use It: “I’m a bag holder from 2021”
13. DCA
What They Say: “Just DCA and chill”
What It Means: Dollar Cost Averaging
Real Translation: Buying same amount regularly
Use It: “I DCA $100 weekly into Bitcoin”
14. DYOR
What They Say: “Looks interesting but DYOR”
What It Means: Do Your Own Research
Real Translation: Don’t trust me blindly
Use It: “DYOR before investing anything”
15. ATH/ATL
What They Say: “Bitcoin hit new ATH!”
What It Means: All Time High/All Time Low
Real Translation: Highest/lowest price ever
Use It: “Bought at ATH, still holding”
16. Gas
What They Say: “Gas fees are insane right now”
What It Means: Transaction fees on Ethereum
Real Translation: Cost to use the network
Use It: “Waiting for lower gas to trade”
17. Rug Pull
What They Say: “Another rug pull, $2M gone”
What It Means: Developers abandoning project with funds
Real Translation: Exit scam
Use It: “That NFT project was a rug pull”
18. Degen
What They Say: “Full degen mode activated”
What It Means: Degenerate – high risk trader
Real Translation: Gambling with crypto
Use It: “Degen trading is not investing”
19. GM/GN
What They Say: “GM everyone!” “GN fam”
What It Means: Good Morning/Good Night
Real Translation: Crypto community greetings
Use It: “GM to all builders”
20. WAGMI/NGMI
What They Say: “Stay positive, WAGMI”
What It Means: We’re All Gonna Make It/Not Gonna Make It
Real Translation: Optimism vs pessimism
Use It: “WAGMI if we stick together”
Bonus Terms for Extra Credit
Technical Terms Simplified
DEX: Decentralized Exchange (Uniswap)
CEX: Centralized Exchange (Coinbase)
TVL: Total Value Locked (money in protocol)
APY: Annual Percentage Yield (interest rate)
Slippage: Price difference during trade
Culture Terms
Fren: Friend (cute spelling)
Ser: Sir (polite address)
Probably Nothing: Sarcasm for “this is huge”
Few: Short for “few understand”
How to Use Your New Vocabulary
Level 1: Understanding
- Recognize terms in context
- Understand articles better
- Follow conversations
Level 2: Participating
- Use terms naturally
- Join discussions
- Ask better questions
Level 3: Teaching
- Explain to newcomers
- Translate jargon
- Bridge communities
Common Misuses to Avoid
Wrong: “I’m HODLing this NFT until it moons”
Why: HODL typically for currencies, not NFTs
Wrong: “The government is a whale”
Why: Whale means individual/entity with crypto
Wrong: “I’m aping responsibly”
Why: Aping means no research – never responsible
Creating Your Own Sentences
Beginner: “I’m HODLing Bitcoin”
Intermediate: “Ignoring the FUD and DCAing through this dip”
Advanced: “Whales rekt degens who aped at ATH, probably nothing but DYOR”
Translation: “Rich traders destroyed risky gamblers who bought at peak prices, might be important but research yourself”
Your Terminology Action Plan
- Learn 5 Per Week: Don’t overwhelm yourself
- Use in Context: Practice in friendly communities
- Ask When Confused: “What does X mean?” is always OK
- Teach Others: Best way to remember
- Stay Current: New terms appear regularly
Remember: Everyone using these terms was once confused by them. The crypto community generally loves explaining things to genuine learners. Don’t pretend to know – ask and learn.
Next Step: Now you can talk the talk. But who are you talking to? Read “Who’s Building Web3? (Spoiler: Not Just Tech Bros)” to meet your new community.