Cryptocurrency is a controversial subject, and there are plenty of people with strong opinions about it. Someone who falls firmly in the anti-crypto camp is known as a no-coiner, a term created by the crypto community. No-coiners are essentially the opposite of the stereotypical, overly enthusiastic crypto bro.
In this breakdown of a popular piece of terminology, we'll define no-coiners and how use of this term has changed over time.
What is a no-coiner?
A no-coiner is a person who's against cryptocurrency and believes it's going to fail. They don't own any cryptocurrencies, often express negative opinions about the market, and tend to hold more traditional financial views.
To clarify, the key factor that determines whether someone is a no-coiner is their attitude about cryptocurrency. A person who doesn't invest in cryptocurrency isn't necessarily a no-coiner. The no-coiner label is only for those who are negative toward crypto.
Since this is a slang term, there's no strict definition for it. Some sources specifically define no-coiners as people who are bitter because they missed out on the opportunity to buy cryptocurrency at lower prices. There are several definitions out there, but they all fall under the same general category of being vocally anti-crypto.
No-coiner explained
The term "no-coiner" dates back to at least 2017 since it was used on Twitter (NYSE:TWTR) in February of that year and added to the Urban Dictionary in June. However, it's rumored to have been in use on forums for years by that point.
No-coiner was originally used as an insult to mock the anti-crypto crowd. Although it's still used that way, crypto critics have also repurposed it as a badge of honor. Some of those who have concerns about cryptocurrency, including the lack of regulations, the environmental impact, and speculation leading to a crypto bubble, refer to themselves as no-coiners.
So are no-coiners right about cryptocurrency, or are they just haters? No-coiners raise some valid points about the downsides of cryptocurrencies. The market is extremely volatile, it's full of scams, and you can lose a large amount of money very quickly. On the other hand, crypto enthusiasts aren't wrong about the potential utility of cryptocurrencies and blockchain technology.
Related investing topics
If you're debating whether to buy cryptocurrency, the best thing to do is research what proponents and no-coiners say about it to understand both sides of the argument. Even though cryptocurrency probably isn't doomed to fail like the naysayers believe, you still should only invest what you could afford to lose. This is a risky new market, so you shouldn't bet your future on it.
