The people
This is our last web3 slang guide in the series. We hope you’ve learned loads and feel confident speaking in blockchain and crypto circles. This week we’ll go a bit more in depth about the people in the web3 world.
We already met the ‘ape’ in part 3 and the ‘devs’ and ‘copycats’ in part 1. This time we’re going to learn about whales, degens and effective altruists.
This we we spoke to Rupert Runewitsch, the Chief Operating and Growth Officer at Kollectiff, Jonathan Zeppettini, Strategy Lead at Decred and Dr. Nicolas Kokkalis, Head of Technology at Pi Network joined us once again.
1. Degen
Degen is short for ‘degenerate’. It refers to those who frequently place risky bets. In the crypto and NFT space it usually means those who invest in digital assets without carrying out due research.
Rupert Runewitsch, however, sees the positive side of the term and refers to the opportunities this behaviour might lead to.
“For me, this term conjures up funny experiences that people in this space find themselves in, from trading across different blockchains to trawling Twitter to jumping into various Discords to get on an Allow Lists.” he says, “Degenerate behaviors have made a lot of young (and old) weed (usually) smoking internet natives very wealthy in the last bull market.”
2. Effective Altruism
Jonathan Zeppettini brought this great phrase to our attention.
He says effective altruism is “Getting credit for being charitable while using money stolen from others to do ‘good’.”
There’s probably no need to give any examples of this in action, but we can all think of someone or some entity that does this.
3. KOL
Short for ‘key opinion leader’, meaning a social media influencer.
4. Nocoiner
Someone who does not own any cryptocurrencies or who has little to no knowledge of them.
5. Pinatics
Dr. Nicolas Kokkalis let us know about this fun term for miners of the Pi cryptocurrency who are passionate about the Pi Network project and who follow all updates closely.
6. Pioneers
This is another of Dr. Kokkalis’ favourites. This is a term for miners of the Pi cryptocurrency.
7. Whale
A whale is a person with a portfolio worth several million dollars or a person who has a sizable number of NFTs in a collection. Many people keep an eye on whales’ spending to see what they buy and sell next as a predictor of their upcoming investment choices.
That is it for part 7 of our crypto and web3 slang and jargon series. If you missed any of the previous week’s you can find them below:
