Definition
“NGMI” is an acronym that stands for “Not Gonna Make It.” Predominantly used within the cryptocurrency and blockchain communities, it refers to individuals, projects, or decisions perceived as unlikely to succeed, often due to hasty or uninformed choices. Beyond the crypto realm, it’s an internet slang term that expresses a sense of hopelessness, reflecting feelings of frustration or disappointment.
Origins
The exact origins of “NGMI” are not definitively traced to a single source. However, its widespread use in the cryptocurrency community has made it a staple term, especially on platforms like Twitter, Discord, and other social media channels where crypto enthusiasts congregate.
A prime example of its use can be seen in a tweet by @Dehkunle (Dehkunle Of Africa 🐐), who humorously expressed his dismay with the phrase: “Rugged by Elon Musk and Vitalik on the same day – ngmi 😂.” This tweet encapsulates the unpredictable nature of the crypto world, where influential figures can sway market sentiments in an instant, and the community uses terms like “NGMI” to humorously cope with such rapid shifts.
Source: Twitter
Usage in the Crypto Community
In the dynamic world of cryptocurrency, “NGMI” serves multiple purposes:
Warning Label: The term acts as a cautionary label, warning against poor investment decisions. For instance, it might be used to describe someone who has made uninformed investment choices.
Market Downturns: The term gains traction during market downturns, signaling projects or ventures that the community believes won’t recover or achieve success.
Mockery: It’s also employed, sometimes humorously, to mock individuals who express skepticism about crypto, metaverse, blockchain and web3 concepts.
Humorous Doubt: “NGMI” can be used in a humorous or self-deprecating manner. For instance, it might be commented on Twitter posts as a lighthearted way to express doubt and poke fun at the hype surrounding a particular project, such as a meme coin with a funny name or an NFT project with an absurd idea.
Contrasting Term – WAGMI
“WAGMI,” standing for “We’re All Gonna Make It,” serves as the optimistic counterpart to “NGMI.” While “NGMI” points to potential failures, “WAGMI” is an expression of hope and camaraderie within the crypto community, emphasizing collective success and support.
Implications
While “NGMI” can be seen as a negative term, its presence in crypto discussions can be beneficial. By identifying potential pitfalls in the market, traders and investors can redirect their focus towards more promising ventures. However, as with all slang and jargon, it’s crucial to approach the term with a discerning mind, understanding its context before making investment decisions.
In the Broader Context
Outside the crypto world, “NGMI” serves as a humorous counter to the more optimistic “To the moon!” phrase. While the latter expresses excitement and optimism about potential growth, “NGMI” humorously conveys the opposite, often reflecting skepticism or doubt about a particular venture’s success.
Conclusion
“NGMI” has carved its niche in the lexicon of cryptocurrency enthusiasts and internet users at large. Serving as both a warning and a reflection of market sentiments, it captures the volatile nature of investments and the ever-changing dynamics of the digital world. As the crypto landscape continues to evolve, terms like “NGMI” will remain integral in shaping discussions, guiding both seasoned traders and newcomers in navigating the intricate world of digital assets and online trends.
Image source: Shutterstock
>