Bitcoin has been on a rollercoaster in the last few days. 5 it came of surpassing its all-time high; then it lost billions in market value on fears of a Chinese government clampdown.The traders responsible for these price swings are spread around the world. They gather on, the legendary forum, encrypted Telegram chat rooms, and Teamspeak servers (basically a rolling, public conference call, where traders can speak to each other using technology originally designed for multi-player games).But try to join in their conversations, and you’ll likely be baffled.

Why do traders persistently misspell “hold” even in the face of powerful autocorrect software? Is being a “bagholder” a pejorative? And why is the BearWhale spoken of in hushed tones? Even insiders marvel at the slang bitcoin culture has spawned. #Rekt — Borrowed from, to mean utterly destroyed or ruined. One trader on r/bitcoin put out this after one of bitcoin’s many crashes: “MOMENT OF SILENCE FOR ALL OF THOSE #REKT ON MARGIN CALLS”Choyna — A distortion of “China,” a country that is hugely influential to bitcoin because it’s where the most trading and mining activity occurs. (Bitcoins are “mined” by powerful computers.)A prominent bitcoin trader called credits ”Choyna” to president-elect Donald Trump and of him repeating “China” ad nauseam.

Sharing pornographic contentComments and threads deemed to be breaking these rules will be removed at the moderator’s discretion.Questions regarding general game play and mechanics should be a comment in the weekly question thread. Promoting illegal activities. Let it die 2019.

It’s been endlessly satirized.

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