In the crypto world, a bounty is like a "Wanted" poster that you'd see in an old Western movie - except instead of a grizzled sheriff offering a cash reward for bringing in a dangerous outlaw, it's a project team or sponsor offering a crypto reward for completing a specific task or finding a bug in their code.
Bounties are a way for projects to crowdsource talent and brainpower from the wider crypto community. They're like a neon sign that says "Hey, if you're smart and you like money, come work for us!"
Bounty hunters can be developers, auditors, marketers, or just about anyone with a particular skill set that the project needs.
Example
"I found a bug in this new DeFi protocol, but instead of exploiting it for personal gain, I submitted it to their bounty program like a good little white hat hacker. I'm basically Batman, but for crypto."
"I've been thinking about getting into the bounty hunting game. I heard that some projects pay out thousands of dollars in crypto for finding critical vulnerabilities. It's like getting paid to play capture the flag!"
A blockchain bridge is like a portal between two different crypto worlds - it lets you move your tokens from one blockchain to another without having to sell them on an exchange first.
It's kind of like if you had a bunch of Monopoly money and you wanted to use it to buy something in a game of Life - you can't just hand over the colorful bills and expect the other players to accept them.
But if you had a special "Monopoly-to-Life converter," you could swap your Monopoly money for the equivalent amount of Life money, and vice versa. That's basically what a blockchain bridge does, but with crypto instead of board games.
Example
"I wanted to try out this new DeFi protocol on the Binance Smart Chain, but all my money was stuck on Ethereum. Thank god for blockchain bridges - I was able to move my tokens over in just a few clicks."
"I heard that there's a new blockchain bridge that lets you move your NFTs from Ethereum to Solana. Finally, I can take my overpriced JPEGs on a cross-chain adventure!"
The bid price is the crypto equivalent of ""Name your price!"" It's the highest amount a buyer is willing to shell out for a token or coin.
In a way, it's like being at an auction, but instead of waving around a little paddle, you're just furiously typing numbers into a computer.
If you're trying to sell your crypto, you'll want to pay close attention to the bid price.
The higher the better, obviously - unless you're one of those people who likes to buy high and sell low. In which case, maybe just stick to collecting Beanie Babies.
Example
"I've been watching the bid price for my favorite altcoin all day. I'm waiting for it to hit 0.69 ETH before I sell. Nice."
"The bid price is so low right now, you'd think people were trying to buy bags of dirt instead of digital gold."
noun | bit-koin
Bitcoin is the granddaddy of all cryptocurrencies, the one that started it all. Invented by the mysterious Satoshi Nakamoto (aka "Shady Nak"), this digital money is all about sticking it to the man - the central bank man, that is. With Bitcoin, you can send cash to anyone, anywhere, without some suit taking a cut. It's like giving a big middle finger to the financial establishment.
Bitcoiners are true believers in the gospel of decentralization. They HODL through the dips and dives of this roller coaster called crypto, dreaming of the day they can trade their digital tokens for IRL Lambos. But haters gonna hate - they say Bitcoin is just Monopoly money for tech bros and libertarian edgelords. Love it or loathe it, Bitcoin ain't going away anytime soon. So buckle up and enjoy the wild ride to the moon (or at least to your local Bitcoin ATM).
Example
"I sunk my entire life savings into Bitcoin and all I got was this lousy digital Lamborghini."
Altcoin is short for "alternative coin" - basically any crypto that's NOT Bitcoin. There are thousands of altcoins out there, from Ethereum and Litecoin to memecoins like Dogecoin. Altcoins are like the wild west of crypto - some are legit projects trying to solve real problems, others are straight up scams. Gotta be careful out there!
Example
"I'm thinking of diversifying my crypto portfolio with some promising altcoins."
"Bro, you gotta check out this new altcoin, I think it's gonna be the next big thing!"
"I lost a bunch of money chasing altcoin pumps, lesson learned - stick to the blue chips."
