Crypto Slang You Never Heard Before: Hopium, Pumpamentals, and WAGMI

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Crypto Slang You Never Heard Before: Hopium, Pumpamentals, and WAGMI

Crypto slang are informal and esoteric vocabulary used by traders and investors in the crypto world. Cryptocurrency has shaped itself as a remarkable industry. For a relatively short period, the adoption of decentralized currency managed to create a cooperative ethic, specified marketing, and gather a solid community around the concept. But these achievements are nowhere near the other phenomena – crypto slang. 

The collective mindset has formed a unique dictionary – both technical and informal –, which is widely used across the third-generation web. By far, its role has been mostly to name equally unique notions and tendencies. 

Eventually, the crypto dictionary has become so ornate and enriched that even proficient players do not operate it at full fledge. We’ll change this today – and dive into some bizarre terms you probably have never heard about.

Let’s get the ball rolling!

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Hopium and Copium

“Huh?” suits as the most genuine reaction to these terms. But in fact, they disclose a widespread emotional state every trader has faced.

Hopium derives from “hope” and “opium”. This pun stands for the feeling of unrealistic optimism about a token or the project a crypto investor has despite everyone saying otherwise.

“I just know this unknown altcoin will be the next bitcoin” – a clear example of hopium. That is, the case refers to an investor who is wildly optimistic about some asset and eager to invest in it with profit anticipation. 

Eventually, if reality turns the tide, and the hopium-full investor faces disappointment, he reaches for Copium: “Oh, I’d better have purchased some BTC or WBT instead!” 

A mix of “cope” and “opium”, the term refers to a combination of escapism, and disappointment. Simply put, Copium is a fictional “bubble” for those who can’t accept the harsh crypto reality.

Diamond Hands and Paper Hands: What’s the Difference?

Speaking of facing harsh crypto realities, some react to them with a firmer grip and quick action, while others stay rather idle. 

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“Even if this altcoin does not become the next Bitcoin immediately, I won’t sell it. Instead, I’m holding it”

In this case, an investor showcases the diamond hands. Specifically, this saying stands for a holding strategy despite market fluctuations and sticking to a long-term perspective.

By contrast, whether an investor is selling the whole portfolio with even the slightest price dip, he or she is working with paper hands – the complete opposite of diamond hands. The ones with paper hands tend to sell their assets quickly, owing to the fear during market downturns.

BTFD

The acronyms have a seat in the crypto dictionary as well. You are aware of FOMO, FUD, ICO, and others. Another one, BTFD, stands for “Buy The F***ing Dip” – a reaction to invest more funds amid the price dip and not obtaining paper hands

Case in point: Bitcoin. Within its bullish sentiment, it is now somehow plummeting. This makes a perfect timing for BTFD.

Permabulls vs Permabears

The essence of crypto trading lies in a long-term perspective. And some crypto enthusiasts tend to permanently take it as optimistic or pessimistic. 

First, we have the permabulls, who maintain a persistent positive outlook on the market. However turbulent, or slipping the market is, such investors always find an illusional sign of bullish tendency.

On the other side, there are permabears – players that constantly expect the market to fall no matter the current trend

Both indicate bias and emotionality within crypto trading.

WAGMI

We have studied the terms that voice irrational optimism. Now it is time for an appropriate one. WAGMI, or We’re All Going (to) Make It, stands as a sign of solidarity and belief that in the end, every crypto enthusiast will find this success. It is used to support, to motivate, and to aid disbelieved investors. 

“I know that this altcoin did not occur to be the next Bitcoin. But don’t worry! Eventually, you’ll find your profits and buy yourself a Ferrari. WAGMI!”

Pumpamentals

How many assets have you seen in your terminal that were just pumping and nothing more? For example, memecoins, which do not have any utility, but are only used for trading and hoping for it to skyrocket.

Such assets are referred to as “Pumpamentals” – a mixture of “pump” and “fundamentals” and an ironic term to describe investments that are driven by speculation and hype, but not technical metrics

“This altcoin is not the new Bitcoin. It is pure pumpamentals, despite the company claiming it’s safu”

And what is safu?

Safu

Safu is a twist on “safe”. It is often used by companies or teams to assure potential investors of the project’s credibility and their funds’ safety. “Funds are safu” – that’s the common usage of the term.

This article only outlined the tip of the iceberg. In reality, the crypto dictionary is much more branched, with a great bunch of technical and slang terms. 

 

Stay safu and remember – always do your research to earn great achievements. WAGMI!

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I am a crypto-enthusiast with 5-year experience in copywriting. Worked for web3 companies and cryptocurrency exchange, which drove my keen interest towards the industry. Been writing for different publications on cryptocurrency, technology, economics and politics.