Kimchi premium

Two perfect storms descended upon the Korean peninsula in late 2017 / early 2018:

(1) Unusually strict capital controls and anti money-laundering rules that make it difficult to trade Korean Won (for, say, USD) or move KRW out of the country.

(2) A longstanding love of gambling that resulted at one point in 10% of all crypto assets–and well over 50% of XRP–being traded by a country that represents under 2% of the world GDP, leading to intense demand for all things crypto.

Despite the obvious arbitrage opportunity (at one point leading cryptos were nearly 50% more expensive on Korean exchanges), the regulatory framework made it virtually impossible for anyone to cash in on the kimchi premium and balance the market.



Gold from the cryptocurrency world

Moon: sudden, rapid and extravagant appreciation of a cryptocurrency. Can be used as a verb, or in the sentence “XRP to the moon!” Inspires a lot of “art” on the message boards (see below). Sometimes when people are particularly excited, it’s “We’re GOING TO PLUTO!”

Lambo: what you can buy with your crypto after it moons

HODL: in 2013 somebody who was clearly inebriated posted that he was not letting go of his BitCoin even though it had just crashed pretty badly: I AM HODLING. If you HODL long enough and your cyrpto moons, then you can get yourself that lambo!

dETHroning: What happened when Ripple/XRP’s market cap exceeded the market cap of Ethereum/ETH in late December 2017

Rippening: What will happen if Ripple/XRP’s market cap exceeds the market cap of BitCoin/BTC.

Altcoins: cryptocurrencies that aren’t BitCoin.

Shitcoins: for some (especially “BitCoin maximalists”), synonymous with altcoins.

Whale: someone who owns a significant fraction of a crypto’s market cap. Since these things typically start at fractions of a cent, it’s easy to amass a chunk of the currency before it moons (or before it gradually ramps up). Later on, traders who don’t understand why a price isn’t mooning, or even budging, on good news, can just blame the whale for selling.




From :

What Makes a HNWI?

The most commonly quoted figure for membership in the high net worth club is $1 million in liquid financial assets. An investor with less than $1 million but more than $100,000 is considered to be “affluent” or perhaps even “sub-HNWI.” The upper end of HNWI is around $5 million, at which point the client is then referred to as “very HNWI.” More than $30 million in wealth classifies a person as “ultra HNWI.”