Bitcoin Terms: A Comprehensive Glossary
Using clear definitions and helpful examples, we've put together a helpful list of key terminology related to Bitcoin.
B
Bitcoin Carnivore
Bitcoin Carnivores are a small group of Bitcoiners that eat only meat.
Bitcoin Dominance
Bitcoin dominance is what percent of the total crypto market Bitcoin takes up.
Bitcoin Holders
A Bitcoin holder is anyone who owns Bitcoin, whether a small fraction or a large sum, and can range from individual retail investors to large institutions.
C
Confirmations
In Bitcoin, a confirmation means a transaction has been added to a block.
D
Don't Trust, Verify
Instead of Trusting someone who said they sent you crypto, you can Verify whether or not the transaction was completed.
F
Fear & Greed Index
Attempts to measure the mood of the crypto market.
H
Hash Ribbons
Tracks two moving averages of Bitcoin's hash rate to show when miners are feeling pressure.
M
Mining Pool
Groups of cooperating miners that agree to share Bitcoin block rewards.
N
NGU (Number Go Up)
NGU (Number Go Up) refers to a fundamental characteristic of Bitcoin: that the price is almost always trending up.
NUPL
NUPL, or Net Unrealized Profit/Loss, is like taking Bitcoin's temperature.
O
Open Interest
Open interest in Bitcoin trading is a measure of how many active futures contracts are still open, indicating the number of participants in the market and providing insight into market momentum.
P
Pi Cycle Top
An indicator that tracks two Bitcoin moving averages.
Power Law
Model that suggests Bitcoin's price isn't random chaos, but follows a predictable pattern.
R
RBF (Replace by Fee)
RBF stands for replace by fee, which involes creating a new transaction to replace an old one.
Realized Price
The average price tag on all bitcoins in circulation.
S
SOPR
SOPR stands for spent output profit ration, an on-chain indicator.
Stacking Sats
Stacking Sats means accumulating small units of Bitcoin, known as satoshis.
T
Transaction Time
Transaction time in Bitcoin refers to the amount of time until a transaction is confirmed.
V
Virgin Bitcoin
Virgin Bitcoins are bitcoins that have never been spent. This means they are purchased directly from miners who mined the bitcoin directly.