“Degen” is short for the colloquial term “degenerate” as in a “degenerate gambler”. In the Bitcoin world, this is someone who loves to take loans out against their Bitcoin in an attempt to buy more Bitcoin or shitcoins with their loan money.
Needless to say there is a high risk involved with this strategy at the best of times and some would say this is reckless. If there’s any sudden price movements, then they would no doubt get rekt and lose all their Bitcoin.
Sadly though, some people take out loans using all their life savings and it’s basically betting, looking to turn their life around in a matter of days. This doesn’t end well for many, leading to the usual FUD stories you see in mainstream media.
We much prefer the long term approach to Bitcoin here at TBM!
The scaling of bitcoin beyond the base chain has seen the expansion of layer two protocols, with unique trade-offs designed to facilitate a certain type