Is "cryptocurrency" a good term? - page 2.

swisstortue

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Quote from: tricker01 on February 07, 2018, 08:40:54 AM

Quote from: hatshepsut93 on December 08, 2017, 03:38:04 AM

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

Well for me , I dont think the term "cryptocurrency" needed to be change anymore. It has been known by many investors as that, and they already adopted that kind of terminology so I dont see any point in changing it base on its origin meaning. Cryptocurrency are already known as the world wide online currency, means ita the present why not just supoort it. So that it could bring us economy to improve.

totally agree with you we should continue to share the same message to make our community greater

tricker01

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Quote from: hatshepsut93 on December 08, 2017, 03:38:04 AM

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

Well for me , I dont think the term "cryptocurrency" needed to be change anymore. It has been known by many investors as that, and they already adopted that kind of terminology so I dont see any point in changing it base on its origin meaning. Cryptocurrency are already known as the world wide online currency, means ita the present why not just supoort it. So that it could bring us economy to improve.

FoBoT

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For that fact that the two words combination forming Cryptocurrency are pretty good and are generally accepted globally in their various function, I gave it my vote as good term as well. Crypto which mean hidden facts and currency which is any real or feasible item globally or unilaterally accepted as a medium for goods and services exchange in their community of operates are adoring words. The legitimacy about Bitcoin trading on line had far gone to the extent that changing cryptocurrency for another term might tantamount to discretely affecting its functionality.

efly01

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Quote from: Jet Cash on December 08, 2017, 03:50:03 AM

I don't think you will be able to change it, it has now entered into the language of the internet. It's like "blockchain", blockchain is now a specific subset of the original concept of chained blocks, and it contains many extra features.

Bonakid

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Cryptocurrency is an online currency that we can use to pay our bills and other online bills that we can pay using btc.But some people afraid to invest in crypto due to lack of knowledge about it ,they are afraid of loosing money when they engage on it.

Pei

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Cryptocurrency is the correct term to be used for the digital currency as it is used as an online currency which can transacted from any part of the world without a third party involvement, cryptocurrency run through the cryptography network which makes the digital currency to reach the destination at the right time.

MCVXYZ

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Quote from: AdTraxis on January 29, 2018, 04:23:54 AM

The term 'cryptocurrency' is good enough due to it's uniqueness. There are lots of Google searches on the word as many people are eager to find out what this weird word means.

Its not good term for ethereum,because its blockchain based platform which has an ability to create your own application,by ETH we can tokenization of real economy.its smart contract platform and not currency,despite the fact that we have wallets as for contracts as our own, the main idea is not that it will be currency,it serves to create something cool and not to send money.smart contracts have program languages for example LLL,Serpent,solidity which of currency has it? So,for me its not currency its opportunity to create blockchain based applications and not only this.

AdTraxis

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The term 'cryptocurrency' is good enough due to it's uniqueness. There are lots of Google searches on the word as many people are eager to find out what this weird word means.

nickmax

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Quote from: hatshepsut93 on December 08, 2017, 03:38:04 AM

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

I agree that the cryptocurrency is not the best term, and it frightens some people. But everyone is used to it and it will be difficult to find a replacement for him.

cerealnac

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It's now part of the lexicon, so it would take an effort to change it. I don't find it to be a terrible name as the term is synonymous with security and anonymity which are the features that are attempting to be solved with a lot of the coins on the market.

mharz

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Quote from: shinjunobi09 on January 28, 2018, 06:43:10 AM

I think the word crypto is kinda may sense as part of the development and technological part of our generations today because crypto kind fits in with currency and it's kinda in rhythm with the encryption part of the computer world today because in cryptocurrency we may not be safe from scammers and fraudsters but at least we are encrypted from the intervention of government and third parties.

Yes it is, crypto currency is a good terms, especially to mellenials, because people like mellenials are believe that all will gonna be easy. Thru technology everything gonna be happen.

Most of the people wants all transactions easier but effective, they want that in a blink of an eye all transactions will gonna be come true.

shinjunobi09

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I think the word crypto is kinda may sense as part of the development and technological part of our generations today because crypto kind fits in with currency and it's kinda in rhythm with the encryption part of the computer world today because in cryptocurrency we may not be safe from scammers and fraudsters but at least we are encrypted from the intervention of government and third parties.

mtemur

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elisforciel

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It does sounds like kryptonite, which is kinda negative. But if people have the time to research more about it, it has its pros and cons. For instance, cryptocurrency is the digital medium for secured funds transaction. It has an ensuring feeling that there people who designed and willing to modulate this kind of stuff. So for the cons, there are trust worthy people that could handle it even if we don't see them, also the person must be aware of the risks. Rather wandering if it is righteous or not? The term is there and means what it needs to be, it's up to people if it sounds kryptonite or not. If they researched about it, maybe they would be invested to the wonders of cryptography and so on.

ohzeih5n

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I was thinking the same as you. I think that most of the people that don't believe in these currencies are afraid of the term "crypto"
I think that if we remove it that could be better. Because we will be compared to euro usd yen and other currencies but the problem of those coins that they are volatile..

Crypto Girl

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The term cryptocurrency derived from the word cryptography, the mathematical method of creating a cryptocurrency and i think it's the most accurate term to be use, but yes there are some term that can be put to call them like altcoins, virtual currency etc... but it's difficult to change the term since it is already used to address these currencies in general.

onnz423

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What would you rather call it then? Digital gold? Virtual palladium? The moniker given to cryptos will not affect their success, and few people think of the literal meaning of a word before using it. We live in a world where people say hunded instead of hundred, and you think people are going to criticise BTC because of its name?

reliable

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Quote from: i... on January 23, 2018, 02:35:07 PM

I think the term is very hard for new comers to understand, and the term blockchain would be even harder.

But the word sticks in your mind, "Cryptooo" so I think it's a good term to be used.

I think cypto is generally used as a short term for the cypto currency and also it is the initial name which has being given and the appropriate for as already being kept. Their is no point now to even think if we want to change or no as nothing is going to happen now. Just thing this is the best name initiated for the relevant terms being used.

Intellectual Romanticist

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Quote from: hatshepsut93 on December 08, 2017, 03:38:04 AM

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

Do we always have to name something based on its properties?

Bitcoin was intended to be a storage of value that can replace Fiat money - hence it is called a currency.
Bitcoin is based on cryptography so it called a crypto-currency.

Let me give you an example.
Bicycle. Cycle - means round. Bi - means two or dual.
Bicycles were fast, at least, when they were first invented, they were the fastest mode of transport for man.
They were made of wood and/or metal.

So what do we call them? Do we call them fastmetalcycle? Do we call them bifastwood or biquickwoodcycle?

When naming things, people do NOT have to consider all qualities and functions of that thing.

warning_btc

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Yes i am agree with mean what cryptocurrency is scary word, Crypto - imself first time will be confus, but i dont have better term in my mind

Topic: Is "cryptocurrency" a good term? - page 2. (Read 1479 times)