The Crypto Twitterverse community is innovative in many ways, including language. Essentially, this burgeoning community of crypto enthusiasts, investors, innovators, entrepreneurs, artists, and young folks has created new terminologies related to DeFi and NFTs.
Of course, this is completely natural. When people and nodes come together, they begin to communicate in unique ways and form strong bonds. With the refreshing coolness that crypto embodies, we have been introduced to older terms like HODL, FUD, and DYOR, and now to newer terms like NGMI, WAGMI, and GM.
What Does ngmi Mean In Crypto?
NGMI (or lowercase ngmi) means “not gonna make it.” The crypto community says NGMI as a way to make fun of, satirize, or ridicule people with negative crypto opinions, people who encourage poor investing choices, and people who fail to understand basic crypto concepts.
For example, “Jamie Dillon from JP Morgan called Bitcoin a fraud, he’s NGMI.”
Moreover, ngmi individuals are also those who are overly bearish, negative, closed-minded, and full of bad takes, especially with regards to their crypto and economic investment predictions.
For example, one notorious individual who gets ridiculed on crypto twitter is Jim Cramer from CNBC because of his bad takes. In fact, Jim Cramer has made so many poor stock and crypto predictions that investors have created an inverse Jim Cramer ETF to trade the opposite calls of Jim Cramer.
Many of his analysis can be seen in the picture below where he makes predictions that the market has bottomed, topped, or a specific stock or crypto is about to take off or collapse.
Because of this, many people say Jim Cramer is NGMI, and people with that type of mindset and who share these types of insights to their followings are NGMI.
So NGMI is primarily used as a sarcastic remark to throw shade at and comment on opinions towards the market and crypto that run counter to the trends.
“If you capitulate during times of stress, and sell on market volatility, yet buy back in when the bulls start running you’re NMGI.”
What Does wagmi Mean?
WAGMI (or lowercase wagmi) means “we are gonna make it.” People say WAGMI to express comradery and support to their fellow crypto traders, friends, or social media followers. It’s less of a “revolutionary overwhelm the system” saying and more of a “let’s work together to build something positive that works for modern-day investors” movement.
In addition, it’s a support mechanism that cryptonites say to eachother in comments and posts that by sticking to the right conviction, you have the most probabilty to succeed. So if all people stick to what they believe in, especially in terms of Web3 solutions, blockchain transparency, and the potential financial freedom that cryptocurrencies present, then WAGMI.
But if you stop building, stop working on Web3 solutions to current Web2 internet problems, as well as stay trapped in a TradFi unbreakable cycle, then you’re NGMI.
So WAGMI is a saying that truly emodies the spirt of the crypto, blockchain, and Web3 community in celebrating working and building for a common goal and purpose i.e., to reinvent the internet and finance.
“Dont worry about the current bear market, if we focus on building, working hard, investing smarter, and improving our trading skills, WAGMI.”
What Does gm Mean?
GM (or lowercase gm) means good morning. The crypto community began saying gm (or good morning) to each other during Bitcoin’s previous bull run to $69,000 in middle-to-late 2021. This is because at the time positive vibes were flowing and the market sentiment was positive, which as a result put everyone in a good mood. When you’re feeling good, you want to spread the love to your followers and greet them with a good morning.
GM now for crypto people is a motivational day starter and is frequently followed by sharing a bullish chart, statistic, or positive news from the macro crypto economy.
“Bitcoin is up 150% this year, GM!”
“GM everyone! The markets are recovering. Today’s a good day to buy Bitcoin and Ethereum. #WAGMI”
As of September 2022, fewer people have continued the GM trend on Twitter, but if the markets start recovering, be prepared to get your timeline flooded by GMs and WAGMI.
As crypto adoption increases, as innovation continues, and as more people join the conversation, more creative crypto-related acronyms will be created. But whether they will be related to the next bull run, whether they will be related to NFTs and gaming, or whether they will be related to the anti-crypto folks, it’s impossible to say. Nonetheless, we at Phemex will keep you up to date on the newest crypto terminology.