Recently, I saw some discussions in the community about the terms NGMI and WAGMI, and I think it's worth talking about. People in the crypto community definitely have their own set of language systems, from early FOMO and HODL to now NGMI and WAGMI. These words reflect completely different mindsets among market participants.

NGMI is the abbreviation for "Not Gonna Make It," which essentially indicates a loss of confidence in a particular project or the entire market. These people are bearish on the market, thinking your invested money might go to waste. They either genuinely believe the market will decline or use it to mock newcomers who blindly follow trends without doing proper research. In contrast, WAGMI stands for "We Are Gonna Make It," which is the opposite—full of optimism and encouragement, believing the market will turn around and investments will pay off.

People who are NGMI tend to be pessimistic, with comments full of negativity about the crypto ecosystem. Just look at what the big players say. Some economists have called Bitcoin a bubble, warned to stay away from Bitcoin like avoiding a plague, and listed the "Seven Deadly Sins of Crypto"—concealment, corruption, scammers, criminals, con artists, and fraudsters. Especially after the FTX collapse in 2022, the NGMI voices surged, with many using this event to highlight how risky and unreliable the crypto market can be.

WAGMI supporters, on the other hand, point out issues with traditional finance—Silicon Valley Bank, Silvergate, Signature Bank all failed, which has led people to reconsider the value of crypto as an alternative. As governments around the world begin to focus more on blockchain, DeFi, and NFTs, the WAGMI narrative has grown stronger. Satoshi Nakamoto once said, "If you don’t believe or understand, I don’t have time to explain," and this confidence embodies the WAGMI spirit. Bill Gates called Bitcoin a "technological miracle," which is another example of the WAGMI viewpoint.

Interestingly, well-known figures in the market also split into two camps regarding their attitude toward crypto. Nobel laureate Paul Krugman is a typical NGMI supporter, claiming crypto is "worthless and promotes crime." Warren Buffett is even more extreme, directly saying crypto "produces nothing," and his words once caused Bitcoin to drop 30%. But Elon Musk, during the market downturn in 2021, said he wouldn’t sell his Bitcoin, which gave investors a lot of confidence. Vitalik Buterin’s announcements about Ethereum upgrades also often boost the community’s WAGMI sentiment.

Ultimately, NGMI and WAGMI are two ways of expressing optimism and pessimism within the crypto community. Understanding the difference between these terms can help you better interpret market sentiment, news commentary, and community discussions. But most importantly, stay rational—don’t be scared by mindless NGMI comments, and don’t get carried away by overly optimistic WAGMI hype. When observing the market on platforms like Gate, learning to identify these emotional signals will help you make more informed decisions.