noun | feyk·out
A fakeout is like when your crush texts you "hey" and you think they want to hang out, but then they hit you with the "can I borrow your notes from class?" - it's a false breakout in a market trend that tricks you into thinking the price is going up, but then it reverses and reks you. It's like the crypto equivalent of blue balls.
Example
"I fell for a fakeout on the 1-minute chart and longed Bitcoin with 50x leverage. Next thing I know, I'm getting liquidated faster than a hedge fund in a bear market. Lesson learned: always use protection when trading, and never trust a green dildo."
"Fakeouts are like the 'Nigerian prince' scam of TA - they promise you riches if you just send them some of your money, but then they disappear faster than your hopes and dreams of making it in this clown world. Trust no one, not even your own mother."
BEP-20 is the standard for tokens on the Binance Smart Chain, just like ERC-20 is the standard for Ethereum tokens. It's like the rulebook that all the tokens have to follow to play nice with each other.
Example
"If you want to create a new token on the Binance Smart Chain, you need to follow the BEP-20 standard."
"BEP-20 tokens can be traded on decentralized exchanges like PancakeSwap, just like ERC-20 tokens on Uniswap."
A Blockchain Confirmation is like a stamp of approval from the network - it's a way of verifying that a transaction has been accepted and added to the blockchain. It's like the blockchain saying "yup, this transaction is legit, let's make it official!"
Example
"The more confirmations a transaction has, the more secure and irreversible it becomes - most exchanges require multiple confirmations before crediting funds to your account."
"In the early days of Bitcoin, 6 confirmations was considered the gold standard for transaction finality, but nowadays some people are happy with just 1 or 2 for smaller amounts."
A Blockchain Bridge is like a wormhole between different cryptocurrency universes - it's a way to transfer assets from one blockchain to another without having to go through a centralizedexchange. It's like a portal that lets you jump from the Bitcoin dimension to the Ethereum dimension and back again.
Example
"Blockchain Bridges are a key piece of infrastructure for the growing world of 'DeFi' (decentralized finance), where assets need to be able to flow freely between different blockchains."
"Building a secure and reliable Blockchain Bridge is no easy feat, it requires a lot of complex cryptography and game theory to make sure that assets don't get lost or stolen in transit."
The Block Reward is like the paycheck that miners get for adding new blocks to the Bitcoinblockchain - it's a certain amount of freshly minted BTC that they receive as compensation for their work. It's like the network saying "good job, here's some shiny new coins for ya!"
Example
"The Block Reward started out at 50 BTC per block, but it gets cut in half every 210,000 blocks (roughly every 4 years) in a process called 'the Halving'."
"Over time, the Block Reward will gradually decrease to zero, at which point miners will only be compensated by transaction fees."
Bitcoin Pizza refers to the infamous moment in 2010 when a programmer named Laszlo Hanyecz bought two large pizzas for 10,000 BTC, worth about $41 at the time. It's like the crypto equivalent of trading a Picasso for a pack of gum.
Example
"The Bitcoin Pizza transaction is a classic example of how much the value of BTC has grown over the years, those pizzas would be worth over $300 million today!"
"Every year on May 22, Bitcoiners celebrate 'Bitcoin Pizza Day' to commemorate Laszlo's legendary purchase and the early days of Bitcoin adoption."
The bid price is the highest price that a buyer is willing to pay for an asset, like the maximum offer someone makes at an auction. It's always lower than the ask price, which is the lowest price a seller is willing to accept.
Example
"I set my bid price at $50,000 for one Bitcoin, but so far no sellers have taken me up on it."
"If you want to buy an asset, you need to either meet the current ask price or wait for a seller to accept your bid price."
