Diamond Hands

Diamond Hands is slang used to refer to cryptocurrency traders who hodl no matter what is going on with the price of the digital asset they’re holding.

These traders have an unwavering tolerance for the insane volatility we sometimes see in the cryptocurrency markets.

Traders with diamond hands don’t cave under the pressure and start selling.

The term can also be used in the completely opposite sense, as a negative, to describe traders too hard-headed to let a loser trade go, to cut their losses before the value of their asset drops even further.

Related Terms

Paper Hands

Paper Hands is a slang phrase made popular on Reddit, describing crypto traders who sell too early because they don’t have a risky bone in their body. They’re completely afraid of losing money because the risk of holding their open position is too high for them to handle.

Fork

When developers make changes to a blockchain, such as adding new blockchain functionality, correcting security issues, creating entirely new coins, or even changing the consensus protocol that governs how blocks are created and validated on a blockchain.

Hard Fork

A Hard Fork is a permanent split of a blockchain into two separate networks that will coexist simultaneously, running in parallel, but not affecting one another.

Soft Fork

In relation to blockchain technology, a soft fork involves introducing changes to a blockchain’s underlining protocol or software that are minor in nature. These software updates can take the form of new blockchain functionality, upgrades to network performance, enhancements that correct security issues, or even changes to the consensus rules that govern how blocks are created and validated on a blockchain. Forks are necessary for providing decentralized blockchains a way to make changes to the blockchain since there isn’t a central authority governing all aspects of blockchain development and evolution.

Not Gonna Make It (NGMI)

Slang, describing someone missing out on profits or gains because she either doesn’t have diamond hands and is thinking about selling her bag because of a dip, or she wants to lock in profits rather than just hodling and waiting for even bigger gains.