“Degen”- Short for degenerate, this slang term refers to a sinking level of moral awareness and is a rite of passage phase for cryptocurrency gamblers. While the term sounds negative it is used among friends in social chatrooms in an affectionate way. 

Being among degens means you are not alone in a world where winning feels impossible.  Degens gather and joke about losses and it is a form of bonding rather than an insult. 

“We were such degens last night when we played all our crypto on that silly dice game.”