What is “rekt” in cryptocurrency?
The definition of “rekt” is an internet slang term that originated in the gaming community. It is a euphemism for “wrecked,” meaning severely damaged or utterly destroyed and ruined. In the context of crypto, “rekt” is often used to describe a trader who has lost a significant amount of money on a trade.
Origin of the word “rekt”
The term “rekt” is thought to have originated in the gaming community. Rumors say it is a portmanteau of the words “wrecked” and “rektum,” which is a slang term for the rectum. The term was first used in online gaming to describe a player who had been completely outplayed or defeated.
What does “rekt” mean in cryptocurrency?
In the context of crypto, “rekt” is often used to describe a trader who has lost a significant amount of money on a trade. This could be due to several factors, such as making a bad investment, getting caught in a pump-and-dump scheme, or simply being unlucky.
For instance, if a trader purchases Bitcoin at $60,000 and witnesses the price crash to $30,000, they could be referred to as “rekt.” This is because they have lost a significant amount of money on their investment.
Examples of “rekt” in crypto
Below are a few instances illustrating how the term “rekt” is employed within the crypto realm:
- “I got rekt on my last trade.”
- As the price of Bitcoin sharply plummeted, the trader encountered a considerable setback.
- “The entire crypto market got rekt in 2018.”
Comparing Rekt and Bagholder for cryptocurrencies
Rekt and bagholder are two slang terms used in the crypto community to describe people who have lost money on their investments. Nonetheless, there exist fundamental distinctions between these two terms.
Rekt
Rekt is a more informal term that is often used humorously. It can be used to describe a trader who has made a bad investment, but it can also be used to describe someone who has simply been unlucky.
For example, a trader who buys Bitcoin at $60,000 and then sees the price crash to $30,000 could be said to have been “rekt.”
Bagholder
Bagholder is a more serious term that is used to describe someone who is still holding onto a crypto that has crashed in price. This person is likely to have lost a significant amount of money, and they may be reluctant to sell their assets even though they are worthless.
For example, a person who bought Bitcoin at $60,000 and then saw the price crash to $30,000 might be said to be a “bagholder” if they still refuse to sell their Bitcoin even though it is now worth half of what they paid for it.
Comparison
In general, the term “rekt” is used to describe a trader who has lost money on a trade, while the term “bagholder” is used to describe someone who is still holding onto a crypto that has crashed in price.
Here is a table that summarizes the key differences between the two terms:
| Term | Meaning | Use in Cryptocurrency |
|---|---|---|
| Rekt | Severely damaged or utterly destroyed and ruined | Used to describe a trader who has lost a significant amount of money on a trade |
| Bagholder | Someone who holds onto an asset that has lost a significant amount of value | Used to describe someone who is still holding onto a crypto that has crashed in price |
FAQ
What is rekt crypto?
The crypto coin Rekt is a satirical cryptocurrency that was created in 2018. It is named after the internet slang term “rekt,” which means “severely damaged or utterly destroyed.” The coin’s creators describe it as a “coin for the people who have been rekt by the crypto market.”
Rekt has no real purpose or utility. It is not used to buy or sell goods or services. Instead, it is simply a way for people to poke fun at the volatile nature of the cryptocurrency market.