WGMI Meaning Crypto (Everything You Need to Know)
The label NGMI indicates that the group (the in-group) believes that the person has taken action, made a poor decision, or holds an opinion different from the group’s.
NGMI is a prediction of future failure (or lack of success), usually financially, based on judging those actions, decisions, or opinions. NGMI has a negative connotation, almost like calling someone a loser (or at the very least someone who is likely to lose in the future).
What is NGMI?
The National Geographical Map Institute (NGMI) is a joint venture between the Department of Defence and the Australian Government. The mission of NGMI is to develop, maintain and provide high-quality, up-to-date maps for use by the defense forces in Australia and internationally. NGMI has been working on the development of the Australian 1:50 000 scale map since 2006. In April 2009, NGMI completed the first stage of the map’s development, named the Australian National 1:50 000 Map Series.
How to Use NGMI?
As a result of a poor decision or bad action, NGMI can be used in a self-deprecating manner in hindsight.Members of an in-group often use NGMI to refer to members of an out-group (such as people who are against NFTs).
It can also apply to those who, for example, price their NFTs below the floor price (below the lowest priced NFT in a collection), constantly change their prices, or flip them mindlessly, without much consideration for profits or losses.
The term NGMI has a strongly negative connotation, so you should use it carefully. Labeling someone within your group as NGMI might be viewed as a form of aggression.
Everyone has their own set of circumstances to deal with. As life situations change rapidly, people have their own reasons for taking the actions they do. There are some NGMIs, and some just cope with life as it comes.
The main reason for writing this post is that I am facing a similar situation as what you described. My son was born on November 28, 2012, and I have been dealing with him since he was born. He is a happy child, and I was blessed to be able to keep my job and earn enough money to support myself and my son. It is not like me to write a post on this site, but I want to share my experience because I think it may help someone else who is in the same situation.
Examples of NGMI in Context
A popular Youtube channel of crypto and NFT influencer JRNY Crypto is the first example of NGMI.A speculative mania for tulip bulbs occurred during the 1600s in the Dutch Republic, as JRNY mentions in his tweet below. This period saw tulip prices reach ridiculously high levels but was soon followed by a steep crash.Many mainstream pundits cite the tulip mania as evidence that crypto and NFT prices are based on pure speculation. According to JRNY, such pundits are NGMIs.
In his article, he states: “The tulip mania was caused by speculators who bought up all the tulips in the market. They were so confident that the tulip would eventually rise that they placed orders for every single one of them. This caused a massive spike in demand and price, and when it crashed, many of the speculators lost money. The result was that the tulip mania caused a lot of people to lose money.” See also Tulipmania Cryptocurrency mining References Category:
