Is "cryptocurrency" a good term? - page 3.

arrmia11

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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 dont care what is the term did the founder used in describing this kind of development. For as long as it doesn't violate the rules I'm okay with it. And the people are already used to it. They already accepted the word cryptocurrency fully and there is nothing wrong with that. More and more people are engaging cryptocurrency and if you are going to change that people might confuse or misinterpret it.

jmiro1

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I agree that the "Crypto" word is not fully suitable with it but you are wrong about the word "Currency". Currency is not a "Narrow" economical term, currency is a revolution to the economy. And the purpose of these decentralized money is currency, yes they are currency. These are currency at the end no matter how you put it. It's online unit, it's blah blah blah,, but it's currency. Currency is strong strong strong part of the economy. You should realize it.

chimcoin

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I think there is a time when a new word is formed and becomes generally accepted and in used daily, This is also applicable to the word "cryptcurrency ". Now , consider word formation for example, word formation is the creation of a new word. Word formation is sometimes contrasted with semantic change, which is a change in a single word's meaning. A new use of an old word can be seen as a new word derived from an old one and identical to it in form.
In a nutshell, cryptcurrency as it is use today, is a word that has become generally accepted to it meaning and we can't change it.

Ucy

sr. member

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Compare rates on different exchanges & swap.

Decentralized-Currency more appropriate?

Decentracurrency
Decentracoin
Decurrency
Detracurrency

akemi1487

newbie

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yes, this is the main fact! The term is what it is, and it is part of the history of Bitcoin, and maybee the history of world economy forever

micky mou

newbie

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if you want your generation your nation updated
so you have to accept that fact
cryptocurrency is the most liking term in nowadays

SGMPhil

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Activity: 111

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01010011 01000111 01001101

e-currency would probably be a bit more appropriate but cryptocurrency sounds cooler

Manal34

newbie

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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?

if cryptocurrency is a good long term bet, we don’t know if Bitcoin will be the one that sticks around. This is even more true for the countless less popular coins with smaller market caps. Thus, there is risk in betting on a given coin

signalbitbot

jr. member

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easy to remember, I think that it is very convenient and thematic

i...

brand new

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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.

andrey64rus

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He нaдo пытaтьcя чтo тo измeнить, ecли этo плoтнo вoшлo в oбиxoд, люди пpивыкли к тepминy "кpиптoвaлютa", тaк мoжeт и нe нaдo ничeгo мeнять.

GbrilliantQ

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ƃqɹᴉllᴉɐuʇb

In my opinion it's too late to ask, it's already taken a foothold and is commonplace now. Even my Mom asked me if I had heard of cryptocurrency. She had forgot that I've been in the game since 2014 and have been mining since 2016..... It's a common #hashtag on Twitter and on other social media sites. It's here to stay I believe.

shacc

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A cryptocurrency the digital currency this term The term is yet digg it in the alphabet crypotoworld and behind the matters of names, the most important is its considerable role which totally different to traditional name of money and cut up with the international banking system, which seems like an antidemocratic relic responsible for multiple major financial catastrophes over the past few years.

fusepay

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Cryptocurrency, or just crypto, is a world know word now, like 'OK'; it describes the digital token and coinspace very well, and as was described ealier in thread, has become the standard world when describing the technical movements of all.

biboy

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Quote from: ?? on ??

The Cryptocurrency world is huge and keeps growing and growing every single day, one way to understand it, is to learn the basic words and topics it talks about on the internet, some terms are difficult to understand but others are product of knowledge of people who work within this market niche, in this article we are going to learn some basic glossary about the cryptocurrency digital world.

In addition to that, I can't see any reason or any alternative term for cryptocurrency I think it is fit enough for that. At first, I am having a hard time in thinking what crypto means until such time when my friend told me to invest in crypto and was confused about this so I invest time even for about 2-3 hours a day.

Colorblind

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This text is irrelevant

Quote from: dietmarfritz59 on December 19, 2017, 01:53:19 PM

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.

I agree! These terms have been around for a long time and this is how everyone knows it now. It is slowly getting more popular, and the more popular it gets that harder it will be to ever change these terms.

Btw some are still trying - for example Russian Ministry of communications asked to call it "digital tokens" instead of cryptocurrency in all official statements/papers.

dietmarfritz59

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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.

I agree! These terms have been around for a long time and this is how everyone knows it now. It is slowly getting more popular, and the more popular it gets that harder it will be to ever change these terms.

Colorblind

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Activity: 392

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This text is irrelevant

Quote from: ?? on ??

Hello
My mother-in-law never heard of Bitcoin let alone "cryptocurrency" .
in many countries, "mobile money" was easy to understand when mobile operators created the service. Internet has now allowed the creation of "digital money" ... My guess , "digital money" will be better understood by the mass.

Crypto lacks fundamental properties of money. So I'd avoid word money at all.

mmhaimhai

sr. member

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A BLOCKCHAIN SOLUTION TO DISRUPT TRADE FINANCE

Same idea I have I think cryptocurrency from the term used should be like our fiat that are used as mode of payment in virtual world but due to the price volatility people had seen the opportunity and now it's more than an investment other than currency.

webtricks

legendary

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It isn't necessary that every term has literal meaning, especially in technical world. When term has been largely accepted by people then it isn't required that it should fully represent the real meaning of the thing.
So far cryptocurrencies world is already widespread and over 50M people invested in it in last 9 years whereas several hundred millions aware of it. What we are discussing should had some relevance in initial years of Bitcoin and cryptocurrencies but now it is far too late. The term "Cryptocurrency" is even listed in Oxford Dictionary 2017 version.

Quote from: shensu on December 12, 2017, 09:32:11 PM

I think it's a good term but it can be a scary term for non technical outsiders.

My tooth is blue but I am not Bluetooth. Please don't scare from me. Roll Eyes

Topic: Is "cryptocurrency" a good term? - page 3. (Read 1479 times)