Bag

In the crypto space, the word bag refers to the coins, and tokens one is holding as part of their portfolio. Typically, the term is used to describe a significant amount of a particular cryptocurrency. There is no defined minimum, but when the value is relatively high, one could say they are holding “heavy bags” of a certain coin or token.

Bagholder

A person who holds large quantities, or bags, of a cryptocurrency. Often used to describe such a person when the price of that cryptocurrency is declining.

Bear Market

The term bear market refers to a negative trend in the prices of a market. It is widely used not only in the cryptocurrency space but also in the traditional markets, such as stocks, bonds, real estate, and commodities markets.

Bear Trap

A technique played by a group of traders, aimed at manipulating the price of a cryptocurrency. The bear trap is set by selling a large amount of the same cryptocurrency at the same time, fooling the market into thinking there is an upcoming price decline. 

Bitcoin

Bitcoin is a digital form of money that runs on a distributed network of computers "nodes". In a broader sense, though, many people often use the word Bitcoin to refer to a few different things: a digital currency, a decentralized public ledger, a protocol, or simply the big ecosystem that encompasses all of these.

Bitcoin ATM "BTM"

A machine from which you can Buy or Sell Bitcoin and get Cash. Example: BTC to USD, BTC to EUR, etc. 

At the moment in the world are 7586+ active bitcoin ATM machine

Bitcoin Halving

Bitcoin Halving is an event that occurs approximately every four years and prevents coin inflation while halving the reward for miners for a mined block. 

 

Bitcoin Improvement Proposal "BIP"

Bitcoin Improvement Proposal is A technical design document providing information to the Bitcoin community, describing new proposed features, processes or environments affecting the Bitcoin protocol. Suggested changes to the protocol are submitted as a BIP. The BIP author is responsible for soliciting feedback and consensus for his or her suggested improvements within the community and documenting dissenting opinions.

BitLicense

A business license issued to cryptocurrency companies in New York, created and provided by the New York State Department of Financial Services (NYSDFS).

Bits

Bits is a sub-unit of one bitcoin. Any form of money needs to be easily broken down into sub-units to allow an equal exchange for goods or services. And bitcoin is wonderfully divisible, with its smallest unit being the tiny 0.00000001 of a bitcoin – a unit known as a ‘satoshi’. There are 1,000,000 bits in one bitcoin.

Block

A container or collection of transactions occurring every time period on a blockchain. In short, the term block refers to computer files that store transaction data. These blocks are arranged in a linear sequence that forms an endless chain of blocks - hence, the term blockchain.

Block Explorer

An online tool to view all transactions that have taken place on the blockchain, network hash rate, and transaction growth, among other useful information. In short, a block explorer is a tool that provides detailed analytics about a blockchain network since its first day at the genesis block. We can say a block explorer acts as a search engine and browser where users can find information about individual blocks, public addresses, and transactions associated with a specific cryptocurrency.

Block Height

The number of blocks preceding the block in question on the blockchain, or can be thought of as total blocks in the chain before this point.

Block Reward

An incentive for a miner who successfully calculates a valid hash in a block during mining. By contributing to the security and liveness of the chain, the miner is rewarded with this incentive, ensuring that miners continue to act in the best interest of the blockchain by legitimately taking part in the process (instead of hacking it).

Blockchain

A blockchain is a continuously growing, append-only, list of records called blocks, which are linked and secured using cryptography.

Bollinger Band

A tool developed by Bollinger to help in the recognition of systemic pattern recognition in prices; it is a band that is plotted two standard deviations away from the simple moving average, or exponential moving average in some cases.

Bots

Automated trading software bots that execute trade orders extremely quickly, based on a preset algorithm of buy-and-sell rules.

Brute Force Attack "BFA"

Brute Force Attack is a method of trial-and-error, in which automated software generates and tries a large number of possible combinations in order to crack a code or key.

Bubble

A bubble describes a situation where market participants drive prices up above their value, which is usually followed by a steep, rapid drop in prices as the market corrects.

Bug Bounty

A reward offered for finding vulnerabilities and issues in computer code. It is often offered by cryptocurrency companies like protocols, exchanges and wallets to identify potential security breaches or bugs before they are exploited by unfriendly parties.

Bull Market

The term bull market refers to a positive trend in the prices of a market. It is broadly used not only in the cryptocurrency space but also in the traditional markets. In short, a bull market concerns to a strong market uptrend that presents meaningful rising prices over a relatively short period of time. When compared to traditional markets, cryptocurrency markets are smaller and consequently more volatile. Therefore, it is quite common to see strong and consistent bull runs, where a 40% price increase in 1 or 2 days is quite common.

Bull Trap

A false market signal where the declining trend of an asset appears to be on the upturn, but does not actually materialize, leading bulls to lose money after going long.

Burned

When a coin or token has been made permanently unspendable or unusable.

Buy The F**** Dip - BTD / BTFD

Buy The F**** Dip an enthusiastic exclamation by supporters of a cryptocurrency to buy while prices are at a low point.

Buy Wall

A situation where a large limit order has been placed to buy when a cryptocurrency reaches a certain value. This can sometimes be used by traders to create a certain impression in the market, preventing a cryptocurrency from falling below that value, as demand will likely outstrip supply when the order is executed.

Byzantine Fault Tolerance "BFT"

Byzantine Fault Tolerance is a property of fault-tolerant distributed computing systems, reaching consensus through a mechanism, where components may fail and there may be imperfect information. For example, Bitcoin is Byzantine Fault Tolerant, utilizing the Proof-of-Work system to reach a consensus on the blockchain. Its applications are beyond blockchain, including messaging and networking systems, among others.

Byzantine Generals Problem

Byzantine Generals Problem is a situation where communication that requires consensus on a single strategy from all members within a group or party cannot be trusted or verified. An example of this agreement problem is where a group of generals, encircled around a city, must decide whether to attack or retreat. Every general must agree to attack or retreat, or everyone will be worse off. Some generals may be treacherous, voting falsely, and messengers may deliver false votes. Under these circumstances, a consensus must be reached. In cryptocurrency, when network participants post false or inaccurate information to others about transactions taking place, it could lead to network failure.