For all you Bitcoin and alt coin crypto fanatics, here is another one for you! Pete the Cooler enjoys using financial acronyms to shorten very complicated financial terms, just like the big boys of the financial world do so each week (ok, it’s a very unpredictable pattern) I introduce a new term. It sounds so slick, suave, and sophisticated to rattle off a bunch of terms to show your superior financial intellect. So today, in honor of the cryptocurrency diehards and Bitcoin buggers, I will teach you the meaning of REKT.
Jeff Koyen does a nice job of documenting the cryptocurrency slang for NYMag, but let’s be honest, there are often truer meanings lying subtly below the surface. As such, I ask you to disregard the commonly recognized definition of REKT: A purposeful misspelling of ‘wrecked.’
As the article points out, use of the conventional meaning in a sentence looks like this:
Rekt: “I never sell because of #FUD, and I never buy because of #FOMO. That’s the easiest way to get #Rekt”.
As you well know by now, I recommend maintaining a forced power pose while using these terms to ensure that others submit to your prowess or mistakenly assume you are a maniacal overlord scheming for world domination, before they return to Facebook and Twitter to their own future detriment.
I’m going to waive that rule today, since mostly you will use this term from behind a computer so nobody will see you unless you are a super geek chatting with a webcam or you are the last one to realize you can be spied on through your own webcam and you haven’t put tape over the lens.
Financial Acronyms – REKT
So the truest meaning of the term REKT is: Rapidly Entering Kickshaws Territory (REKT) which usually follows a GAAP (Generally Avoidable Asset Plunge) and ignoring many fundamental flaws of bitcoin.
Using it in a sentence looks like this: (Actually, I don’t think I need to change the above example borrowed from Jeff Koyen) “I never sell because of #FUD, and I never buy because of #FOMO. That’s the easiest way to get #Rekt”.
Those sneaker-shoe guys in the basement chewing on Xanax will start using this one for sure.
And, there are a lot more jewels where that came from. I’ll keep rolling out financial acronyms weekly (or so) as we go down this PtC rabbit hole together.
Follow me on Twitter @PetetheCooler