As a verb: To relax
As an adjective: To be relaxed and in a subtle and calm state of mind.
"How are you?"
"Coast"
"What are you doing?"
"Coasting"
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A use of the tremolo and/or melodic usually legato guitar riff very similar to those of Joe Satriani Aka Satch
"I use a lot of satchisms in my guitar playing" "Did you just play a satchism?"