S
Satoshi (SATS)
The smallest possible unit of a Bitcoin. Specifically, a Satoshi is 0.00000001 BTC.
Satoshi Nakamoto
The creator of Bitcoin. It’s not a real name, and is either a pseudonym for an individual or a group, whose true identity has yet to be revealed. You can find out more by reading about the
history of crypto.
Scaling
In crypto, scaling refers to the ability to expand a network. For example, when ICOs were popping off on the Ethereum network in 2017, the network became congested and slowed down, representing a scaling problem.
Scamcoin
As the name suggests, this is a token run by scammers with no real utility and no aim other than making a quick buck for the founders.
Scared Money
When a player is involved in a game at stakes that are too big for them, with money they can’t afford to lose. If you have scared money, leave the game and move to lower stakes.
Scatter
Slot game symbol that pays out when at least two appear on the reels at the same time. Other features of scatter symbols include triggering
free spins and
bonus games.
SEC (Securities and Exchanges Commission)
A US government agency set up with the aim of protecting investors and keeping markets fair. The SEC has butted heads with crypto many times, including a major lawsuit against XRP which was eventually settled. Since Trump moved into his second term, the SEC has softened its previously tough stance on crypto.
Security
Part ownership of a crypto, with the aim of making profit, and offered via a contract. Many cryptos have battled the label of a “security”, because accepting it would mean they need to be more intensely regulated by the government.
Seed Phrase
Sell Wall
A bunch of limit orders, or one massive one, that have been placed on the order book. In order to increase in price, the cryptocurrency in question will need plenty of buyers (or, again, one massive one) to eat through the sell wall and continue the upward momentum.
Seven Out
Craps term, where the shooter hits a seven before they’re able to make the point. If this happens, the pass line bet is classed as a loss.
Shard
Sharding
The splitting of a blockchain into sections in order to help with
scaling. By chopping it into sections and only focusing on the bits that matter, sharding stops computing power from being wasted, which leads to faster transactions.
Shilling
When investors in a particular token talk it up, often exaggerating its benefits, in order to attract more money to the project and pump up the price.
Shitcoin
Slang for a crypto token that has absolutely no use – often openly so.
Shooter
The person throwing the dice in a game of
craps.
Short
A form of
margin trading where you borrow an asset to sell it in the belief that the price will decline. For example, let’s say BTC is at $100,000, and you strongly believe the price will decline. You can “short” it by borrowing 1 BTC and selling it. If the price drops to $50,000, you then buy back that 1 BTC and return it to the lender, leaving you with $50,000 profit (subject to fees).
Short Squeeze
If a lot of people
short a coin, but the price rises too much, they may all sell their positions, which means they’re all buying the coin in quick succession. This is called a short squeeze, and results in a rapid rise in the token’s price.
Sic Bo
Yahtzee-style dice game found in crypto casinos, where you can bet on the outcome of a roll of three dice.
Signal
Often used by traders, a signal is an indicator on the price chart of a coin that it’s time to either buy or sell. This can be based on technical data, or human analysis of the market.
Silk Road
The former Bitcoin marketplace, operating on the dark web and known for providing illegal products and services.
Simple Bet
Craps bet (where nothing is simple, ironically), where you bet on one number. Odds vary based on both the number you choose, and the number of dice being used.
Slippage
An extra cost paid by traders when the price of a token jumps between the time of them placing the order, and the time of the order being fulfilled. It’s like when you place an in-play bet on sports, but the odds of the market change before you can lock your bet in, and you’re forced to accept reduced odds or cancel altogether.
Slot Machine
Usually refers to physical slots cabinets, rather than online ones. These almost always have a lower
RTP than online slots. Also known as fruities.
Slots
Online slot game based on chance, where you place your bet and spin the reels. This covers classic slots, video slots,
online jackpot slots and more. In addition to online slot games, you can also play them using physical cabinets at brick-and-mortar casinos.
Small Bet
Craps bet, where you bet on a total of 4-10 for all three dice combined.
Smart Contract
A way to verify a blockchain contract. What makes it “smart” is that it’s automated, and doesn’t need to be validated by any third party. The classic example often used is that of a vending machine. You insert the money and press a button to release the product you want. It’s automated, yet requires certain thresholds to be met before it kicks into action, just like a smart contract.
Snake Eyes
A pair of ones from a dice roll.
Soft
Also called
easy. A number in craps, formed by rolling two different numbers. For example, a soft eight can be made by rolling either a six and a two, or a five and a three. If you roll a pair of fours, this is called a
hard eight.
Soft Fork
With a soft fork, old
nodes can still validate new transactions, even if they haven’t adopted the upgraded version. Think of it like a backwards-compatible games console, versus the
hard fork which only allows games on that specific platform.
Soft Hand
Blackjack term, referring to a hand with at least once ace. In blackjack, this can be worth 1 or 11 – hence your hand total is “soft”, as it could be adjusted.
Software Wallet
Split Hand
Option in blackjack to divide your hand into two. To split the hand, you must be dealt a pair.
Sportsbook
Spot
If you make a spot trade, it’s settled immediately. This is in contrast to a
limit order, where the trade is only completed if and when the token price matches that of your order.
Spread
Stablecoin
A cryptocurrency with a very consistent price. One aim of a stablecoin is to give you an option where you can move funds away from a token you fear may decrease in price, and into a safer waiting zone – without the need to convert it back to
fiat. Stablecoins are often backed by a currency, such as Tether (USDT), or a commodity like gold.
Staggered Payout
Payout method used in crypto slots where the more you wager, the bigger your potential wins. In these games, the biggest prizes and jackpots can only be unlocked by upping your stakes.
Staking
The act of using your crypto to receive a yield, or interest. You’ll need to lock your coins up for a pre-determined amount of time to stake them.
Sticky Bonus
A special type of bonus at crypto casinos that you can’t cash out, even if you meet the wagering requirements. Instead, you can keep the winnings, while the casino takes back its sticky bonus after the promotion period ends.
Store of Value
Something you can lock away with the idea that it won’t lose value. For example, gold is a store of value, as is silver.
Straight Bet
Roulette bet, where you bet on one specific number. Pays 35/1. In sports betting, a straight bet means you’ve bet on one team or person to win outright.
Street Bet
Roulette bet, where you bet on three numbers that appear in a row on the table. For example, numbers one, two, and three. Also known as a three number bet.
Strong Bet
Craps bet, where you bet on the outcome of all three dice at the same time. For example, betting on a triple six.
Surrender
An option in roulette to give up your hand early and get half your stake back.
Symbol
In crypto, it’s another word for
ticker. At crypto casinos, a symbol is any of the letters, pictures, numbers or icons that appear on slot game reels. Some symbols are worthless, while others mean you’ve hit a jackpot.
