If you suddenly in the chat group, where Chinese investors buy and sell cryptocurrency, with a 99% probability I can say that from their experience, you will understand about anything even if I thought I knew this language.
Why do people enthusiastically talking about the price of pancakes and eggs? Why the hell someone is trying to buy a concubine? What a community of hipsters, obsessed with avocado?
Once China dominated global trade in bitcoins, but regulators in the country have completely banned the cryptocurrency. That is why, to hide their activities from the authorities, the traders of China had to come up with your own, but they can understand language.
Chinese cryptocurrency investors continue to trade with each other on services such as WeChat, use encrypted applications such as Telegram, and discuss transactions in online forums, for example, 8btc.com. Slang helps to avoid further government intervention by hiding their intentions from prying eyes. It’s unlikely that traders will be grateful for spreading this information, but we have prepared for you a Glossary that will help you understand what is happening.
圈 币 (Bì quān) – Literally “circle of coins.” Means the cryptocurrency space.
大佬 (lǎo Dà) – “the Boss”. Refers to the trader with a great amount of investment. Equivalent to ” kit ” in Western slang.
庄 狗 (Gǒu zhuāng) – “Dog the banker”. Retail investors use this term to refer to traders who choose long-term trading.
韭菜 (Jiǔcài) – “Leek.” Metaphor for novice investors who are “reaping the benefits”, following the example of experienced investors, but in the end often lose their money. Fortunately, they can strengthen their position when there are other naive newbies to replace them.
韭菜 老 (Lǎo jiǔcài) – “Old leeks”. Old retail investor who is eventually consumed by the whales.
币 妈 (mā Bì) is a Reduction from UKvisas ladies. Dama refers to middle-aged women who are eager to acquire new assets, but do not have basic investment knowledge and skills (analogy with grandma bitcoins). The term was first used in 2013 when the middle-aged investors rushed to buy physical gold, thereby increasing its value. Then they broke into the local stock markets amid the historic bull run, which was followed by the inevitable crisis in 2015. The crypt seems to be the newest Playground for “middle-aged ladies” .
囤 币 (bì Tún) – “the Accumulation of coins.” We are used to hear “HODL”.
糖果 (Tángguǒ) – “Candy”. Something very similar to “airdrop” in Western slang.
薅 羊毛 (Hāo yángmáo) – “Pull the wool”. Refers to the activities of investors who end up trying to make money, chasing bonuses offered by banks and other financial institutions. In the cryptocurrency space the hunt for “Candy”, for example, is one of the ways to “pull the wool”.
砖 搬 (Bān zhuān) – “Dragging bricks”. A slang term meaning arbitrage, the simultaneous buying and selling of the same asset in different markets. For example, arbitrage traders buy the crypto currency on the open markets, such as Japan, and sell them on illegal markets such as China.
梭哈 (Suōhā) is a transliteration of “Show Hand”. Here it means “broke”. In popular, really sexist meme in the Chinese cryptocurrency community, said: “give me your hand, show the other hand, show all the hands. If you win — you are guaranteed time in the clubs surrounded by models. If you lose, go back to your farm in the field “.
For each major cryptocurrencies came up with its slang name. As you can see, they are mostly named after food, which seem similar:
Well, friends, I hope we kind of got you into the swing of things and have expanded your vocabulary trading stock, adding a few new and original expressions that came to us directly from China.