OPN Intel · Glossary

The terms, in plain language

Every piece of jargon this site leans on, defined plainly — what each term is, never what it predicts. In articles, these same definitions appear on hover; here they all live in one place.

200-week moving averagesee it on the site →: The average closing price over the last 200 weeks (~4 years) — a slow baseline that has historically sat near full-cycle bottoms.
5GWsee it on the site →: Fifth-generation warfare — conflict waged through information, finance, and infrastructure rather than open battle.
cold storage: Keeping keys on a device that never touches the internet, putting them out of reach of remote attackers.
cost basissee it on the site →: What you actually paid, on average, for the bitcoin you hold — the reference point for gains, losses, and tax.
cost of productionsee it on the site →: An estimate of the electricity cost to mine one bitcoin, from difficulty and rig efficiency. A soft, reflexive floor — not a hard one.
cycle scoresee it on the site →: A 0–100 composite that places today's six valuation indicators on their own historical bands. Descriptive position, not a forecast.
difficultysee it on the site →: A protocol setting that adjusts every ~2 weeks to keep blocks arriving about every 10 minutes, rising and falling with hashrate.
dollar-cost averagingsee it on the site →: Buying a fixed amount on a fixed schedule regardless of price, to smooth out the risk of buying everything at the wrong moment.
drawdownsee it on the site →: How far price sits below its highest close so far, as a percentage. A plain measure of damage — it says nothing about direction.
halvingsee it on the site →: The protocol event, about every four years, that cuts the new-bitcoin block reward in half. The next drops it to 1.5625 BTC.
hashpricesee it on the site →: What a miner earns per unit of hashpower per day — revenue divided by hashrate. It falls as competition rises or price drops.
hashratesee it on the site →: The total computing power securing the Bitcoin network, in hashes per second — a measure of how much work backs the chain.
Mayer Multiplesee it on the site →: Bitcoin's price divided by its 200-day moving average — a quick gauge of how stretched price is above or below its long-run trend.
mempoolsee it on the site →: The waiting room of unconfirmed transactions. When it fills, the fee to get into the next block rises.
multisig: A wallet that needs several keys to spend (e.g. 2 of 3), so no single lost or stolen key can drain it on its own.
OpSecsee it on the site →: Operational security — the habits that keep your holdings and identity from leaking: address reuse, oversharing, metadata, physical safety.
Pi-Cycle Topsee it on the site →: A top-spotting signal: the 111-day average against twice the 350-day average. Their crossover has lined up with past cycle peaks.
power lawsee it on the site →: The observation that Bitcoin's price has grown roughly as a fixed power of its age, tracing a straight line on a log-log chart. A descriptive fit, not a law.
Puell Multiplesee it on the site →: Daily mining issuance value (new coins × price) divided by its own 365-day average — a proxy for how rich or lean miner revenue is right now.
RSIsee it on the site →: Relative Strength Index — a 0–100 momentum gauge. High readings suggest overbought, low oversold; here it's read on a weekly clock.
sat/vB: Satoshis per virtual byte — the fee rate you attach to a transaction. Higher rates get confirmed sooner when the mempool is busy.
self-custody: Holding your own bitcoin keys rather than trusting an exchange or custodian. The maxim: not your keys, not your coins.
UTXO: Unspent Transaction Output — a discrete chunk of bitcoin sitting at an address, the accounting unit the protocol actually tracks.

Missing a term? The site defines what it can trace to a number or a mechanism — if something here still reads like code, that’s a gap worth telling us about.