Edited on 20/08/2025, 14:01:09 UTC
This is very nice. Let me add some other terms in bitcoin talk to my best understanding.
Blockchain a digital decentralised ledger where all transactions are recorded.
Satoshi is known as the smallest unit of a Bitcoin in other words, it was named after the original creator Satoshi Nakamoto.
Halving as the name says, it's an event that occurs every 4 years and it reduces the block rewards by 50%; this event increases scarcity.
Altcoin there are other cryptocurrencies other than Bitcoin, like Ethereum, Litecoin, and Ripple.
ATH (All Time High) This means the highest price a cryptocurrency has ever reached in a trading history.
Bear Market this is a period in the cryptocurrency market when prices are going downwards.
Bull Market it's also a period in the cryptocurrency market when prices significantly rise /upwards
Wallet Address these are numerical numbers they serve as a destination for receiving cryptocurrency.
Private Key as the name says it is a mixture of both numbers letters which are personal information that gives you control of your cryptocurrency And also used for transaction authorization the private key must be kept in a secure place so it won't get missing.
Fiat Currency these are currencies that are controlled by the government like USD and naira.
Hard fork change in protocol of a blockchain that results in a split in the blockchain whereby there is a new protocol.
Soft fork is a change in the blockchain protocol that is still backwards compatible in other words it means the old rules still consider the new ones valid under them.
Multi Signature this is a kind of signature that requires two or maybe more private keys to confirm a transaction.
Original archived Re: Popular Phrase/Terms you need for Bitcointalk
Scraped on 13/08/2025, 14:01:39 UTC
This is very nice. Let me add some other terms in bitcoin talk to my best understanding.
Blockchain a digital decentralised ledger where all transactions are recorded.
Satoshi is known as the smallest unit of a Bitcoin in other words, it was named after the original creator Satoshi Nakamoto.
Halving as the name says, it's an event that occurs every 4 years and it reduces the block rewards by 50%; this event increases scarcity.
Altcoin there are other cryptocurrencies other than Bitcoin, like Ethereum, Litecoin, and Ripple.
ATH (All Time High) This means the highest price a cryptocurrency has ever reached in a trading history.
Bear Market this is a period in the cryptocurrency market when prices are going downwards.
Bull Market it's also a period in the cryptocurrency market when prices significantly rise /upwards
Wallet Address these are numerical numbers they serve as a destination for receiving cryptocurrency.
Private Key as the name says it is a mixture of both numbers letters which are personal information that gives you control of your cryptocurrency And also used for transaction authorization the private key must be kept in a secure place so it won't get missing.
Fiat Currency these are currencies that are controlled by the government like USD and naira.
Hard fork change in protocol of a blockchain that results in a split in the blockchain whereby there is a new protocol.
Soft fork is a change in the blockchain protocol that is still backwards compatible in other words it means the old rules still consider the new ones valid under them.
Multi Signature this is a kind of signature that requires two or maybe more private keys to confirm a transaction.