As in all corners of the (digital) world, there are also some memes/running gags/proverbs/expressions in the area of Bitcoin & Co. that you come across again and again.
We have already dedicated a separate article to the best-known expression "HODL", but today I would like to give you ten more crypto sayings and explain their meaning.
Alongside "HODL", the saying "Not your keys, not your coins" is definitely one of the best known in the entire cryptospace. Translated into German, it means "Not your keys, not your cryptocurrencies" and alludes to the fact that only the person who holds the private keys for a coin is the actual owner. People who leave their cryptocurrencies on exchanges are therefore not actually in possession of cryptocurrencies, unlike those who use paper or hardware wallets . For this reason, in addition to our esteemed Blocktrainer, the respected Bitcoin expert Andreas Antonpoulos also repeatedly advises people to keep their coins with them.
For many, "Be your own bank" is THE mantra that initially prompted them to buy their first Bitcoins or Satoshis. Being in control of your own finances without being dependent on a central authority gives you a sense of freedom. The Bitcoin network is open to everyone and no permission is required to participate. There is no one who can prohibit you from making certain transactions. You are fully responsible for your own finances. But be careful: "Be your own bank" is both a curse and a blessing. If you make a careless mistake and mishandle your money, there is no one who can help you and reverse incorrect transfers. So "be your own bank" also means "act wisely and prudently"!
"When Moon?" and "When Lambo?" can in some ways be seen as the counterpart to "Be your own bank". Because unlike the power of disposal over your own money, the focus here is on the prospect of high profits. "When Moon?" refers to the development of the market value of cryptocurrencies. These go steeply upwards - literally to the moon. "When Lambo", on the other hand, questions the prospect of a Lamborghini sports car. Someone using "When Lambo" ironically wants to know how long it will be before they can finally afford a "Lambo" from their investment.
"Im in it for the tech" is a Bitcoin/crypto meme that humorously and with a small pinch of irony takes the piss out of those who don't want to admit that they are actually more interested in the high profits.
Originally, "Bitcoin fixes this" was coined within the Bitcoin scene to make it clear to outsiders that the root of many problems in today's society lies in our sick monetary system and that Bitcoin offers a solution.
However, the term is now used rather ironically, as Bitcoin fixes a lot of problems, but not all of them. Given their tendency to see BTC as a panacea for all the world's problems, it has become popular among Bitcoin supporters to attach "Bitcoin fixes this" to things that BTC cannot possibly fix.
During unscheduled maintenance at the exchange, Binance CEO Changpeng Zhao (CZ) tweeted to users and declared: "Funds are safe!" ("The funds are safe!")
Thereafter, the phrase "Funds are safe" was regularly used by CZ to ensure that users were aware that their funds were indeed safe.
Later, on May 19, 2018, a now quite famous content creator named "Bizonacci" uploaded a video titled "Funds Are Safu" to Youtube. The video quickly went viral and became a viral meme. The phrase "Funds are safe" was no longer used, and instead the community began to use the phrase "Funds are safu". Even CZ got in on the meme a little later and has since also been using "Funds are safu" in its tweets to make it clear that the funds are still safely stored during maintenance work.
In order to protect its users after possible hacker attacks or similar. In July 2018, Binance set up an emergency fund into which it pays 10% of all trading fees collected in order to protect its users and reimburse losses if necessary. The name of this fund is the "Secure Asset Fund for Users", or SAFU for short.
Big upgrade. Funds are safu! https://t.co/1DV1sVpI93- CZ 🔶
BNB (@cz_binance) June 25, 2018
After Litecoin inventor Charlie Lee sold off all his holdings of LTC in 2017, Monero developer Riccardo Spagni (nicknamed "Fluffy Pony") joked that he unfortunately couldn't sell his XMR because he lost his private keys in a "terrible boating accident".
As it is best not to let anyone know that you are (still) in possession of Bitcoin and other cryptocurrencies for privacy and security reasons, this meme is often used today to communicate: "There's nothing to steal from me, find another victim".
As it is best not to let anyone know that you are (still) in possession of Bitcoin and other cryptocurrencies for reasons of privacy and your own security, this meme is often used today to say: "There's nothing to steal from me, find another victim".
I didn't even get a chance to sell all my XMR, as I lost my private keys in a horrible boating accident. pic.twitter.com/cmOMsbpq4t-
Ric "el pony esponjoso" (@fluffypony) December 20, 2017
While many outsiders, mainstream reporters and newcomers often wonder what is responsible for the enormous price movements in Bitcoin, experienced Bitcoiners already know the reason. NGU - "Number Go Up". Like so many Bitcoin and crypto memes, "Number Go Up" originated on Twitter in 2017. It is deliberately grammatically incorrect and is intended to make it clear that it doesn't matter what happens and what the underlying reasons are. Bitcoin's value will rise - Number go up.
"Stacking Sats", which literally means "stacking/collecting sats", was originally launched by Matt Odell, co-host of the very popular podcast "Tales from the Crypt". In a tweet, he urged his followers to stay humble and just keep piling up sats (short for satoshis, the smallest unit of BTC).
Since then, "Stacking Sats" has become an integral part of the Bitcoin scene. In essence, Matt Odell's statement alludes to not giving in to FOMO and the crazy price and yield promises that emerged around the recent DeFi hype, but to continuously build up your Bitcoin assets with a DCA strategy.
Stay humble. Stack sats.
- PRIMAL.NET/ODELL (@ODELL) May 3, 2019
Bitconnect was a crypto snowball system that peaked in December 2017 and came to an end in January 2018. The company of the same name organized a conference in faraway Thailand in October 2017, at which the speech by "Carlos Matos" was particularly memorable. His crazy yelling and exaggerated euphoria has since become not just one but several memes. "Hey hey heeeeeeeeeeey" or "Whazza, whazza, whazza, whazzuuuuup... Bitconnneeeect" now adorn - together with Carlos Matos' likeness - thousands of pictures, bags, T-shirts and other merchandise items.
As many people warned at the time that Bitconnect was a scam, but the supporters always refused to listen, the meme is now also regarded as a memorial.
Which is your favorite crypto meme? Did you already know all ten or do you know any others? Just write to us in the free Blocktrainer forum.
