what is the difference between bitcoin and crypto?

Kaliandra

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Quote from: hatshepsut93 on December 29, 2022, 06:52:37 PM

This is a good and right question.

When Bitcoin was created, the word "cryptocurrency" didn't exist. In fact it wouldn't exist for quite some time until people started creating modified copies of Bitcoin. That's when the need for a more general term arouse.

Originally "cryptocurrency" was defined as a currency that exists on a decentralized network of computers. But there are many cryptocurrencies that are not decentralized, and yet no one is bothered by this fact, despite their centralization defeating the whole purpose of cryptocurrency. This is because most people in crypto community only come here for high risk high reward trading and not actually to use cryptocurrency.

Crypto ecosystem is so toxic and useless that we might as well abandon it and say that Bitcoin is what Satoshi described it - a peer to peer digital currency.

now I understand with your good and reasonable explanation, I thank you.

KingsDen

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Quote from: Kaliandra on December 29, 2022, 08:02:27 AM

hi friends everyone? This is my first post, and I'm not experienced in the world of crypto. I want to ask, what's the difference between bitcoin and crypto? I hope all my friends can explain to me,,?

Welcome to the forum.

Cryptocurrency is a general name for currencies that use cryptography.
Cryptocurrency is divided majorly into two;
1. Bitcoin BTC
2. Altcoins (Alternative coins).

BTC + Altcoins = cryptocurrency

Kaliandra

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Quote from: mk4 on December 29, 2022, 08:18:48 AM

While some people will probably have different opinions with this(maximalists on Twitter) — in general, bitcoin is bitcoin(which is a cryptocurrency), and cryptocurrency is the broader industry of other blockchain-based coin/token projects.

* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj

Security related:
* https://cryptosec.info
* https://www.lopp.net/bitcoin-information/security.html

If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters

the input you provide is very good and valuable so I thank you and also everyone who has replied to my post. and I now understand about bitcoin and crypto.

reagansimms

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Quote from: Kaliandra on December 29, 2022, 08:02:27 AM

hi friends everyone? This is my first post, and I'm not experienced in the world of crypto. I want to ask, what's the difference between bitcoin and crypto? I hope all my friends can explain to me,,?

Welcome to the forum, we always welcome anyone who just joined here with open arms.
The positive value that I catch here, you don't feel reluctant to ask about something you don't know. Actually the question above is very simple, you can get answers through searching on Google.

I will try to answer your question even though several seniors answered your question first.
Cryptocurrency is a digital or virtual currency guaranteed by cryptography. With cryptography, Cryptocurrency is almost impossible to counterfeit. Another definition of Cryptocurrency is a medium that can be used to make transactions between users without the need to go through a third party.
While Bitcoin is one of the many types of Cryptocurrency, Bitcoin is the oldest and most popular Cryptocurrency among other crypto assets.

pooya87

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Bitcoin is a cryptocurrency but not all cryptocurrencies are bitcoin! Like all thumbs are fingers but not all fingers are thumbs Cheesy

Usually when people say "crypto" or "cryptocurrency" they mean altcoins not bitcoin.

Quote from: Edwardard on December 29, 2022, 08:16:11 AM

(since it uses encryption to verify transactions)

There is a difference between "cryptography" and "encryption". Encryption is a cryptography algorithm that encrypts a message into a ciphertext that can be decrypted using a key to get the message again.
Bitcoin does NOT use encryption at all in its protocol (encryption is used for wallets but it is not part of the protocol). Bitcoin uses cryptography: hash algorithms for mining, computing block and tx hashes, etc. and asymmetric cryptography using an Elliptic Curve for its keys and signature generation in transactions.

Darker45

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Bitcoin is a cryptocurrency. It is a currency that uses cryptography in validating transactions and making sure the information are safe. So, Bitcoin is a cryptocurrency, but I'm afraid it isn't vice versa. Cryptocurrency is not Bitcoin. It now refers to thousands of other coins. Thus, when one speaks of cryptocurrencies, it is now referring to more than 20,000 of them. This has caused a little trouble with the term cryptocurrency. Many Bitcoin supporters don't want Bitcoin to be lumped together with the rest of what are called cryptocurrencies primarily because they aren't the kind of coins that Bitcoin is. The way they are designed, they somewhat betrayed the very reason why Bitcoin was created. And so, many would want Bitcoin to be separated from the rest of the cryptocurrencies resulting to slogans like Bitcoin, not crypto.

hatshepsut93

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This is a good and right question.

When Bitcoin was created, the word "cryptocurrency" didn't exist. In fact it wouldn't exist for quite some time until people started creating modified copies of Bitcoin. That's when the need for a more general term arouse.

Originally "cryptocurrency" was defined as a currency that exists on a decentralized network of computers. But there are many cryptocurrencies that are not decentralized, and yet no one is bothered by this fact, despite their centralization defeating the whole purpose of cryptocurrency. This is because most people in crypto community only come here for high risk high reward trading and not actually to use cryptocurrency.

Crypto ecosystem is so toxic and useless that we might as well abandon it and say that Bitcoin is what Satoshi described it - a peer to peer digital currency.

Ryker1

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Quote from: Kaliandra on December 29, 2022, 08:02:27 AM

hi friends everyone? This is my first post, and I'm not experienced in the world of crypto. I want to ask, what's the difference between bitcoin and crypto? I hope all my friends can explain to me,,?

crypto is a short-term cryptocurrency that is also known as a digital currency and the first decentralized digital currency created was bitcoin.
I like the term above using crypto as an umbrella term which is the leading of it is bitcoin and those below are those altcoins also called cryptocurrency. Since everyone looking for improvement or progress in bitcoin on their own, and bitcoin cannot be modified, they created altcoins in the same aspect as bitcoin. Now the difference is bitcoin is there is no entity that controls it or makes it even the creator while the other crypto was managed and manipulated by their creator or developer, also bitcoin was created for a payment purpose only.

Jon_Hodl

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Humble Bitcoin Stacktivist

Bitcoin is a decentralized electronic cash system that is truly outside the reach and control of any centralized entity. It relies on math and free-market incentives to reward miners for finding a number (nonce) that completes a math equation. When they complete this math equation, they win bitcoin.

Bitcoin is a very pure and simple system that works like a machine.

"Crypto" is a term that has been hijacked by a number of scammers who have pre-mined altcoins (shitcoins) to get unsuspecting noobs to purchase their coins in an attempt to make massive profits. When enough unsuspecting users buy their shitcoin, those who can print this coin out of nothing will sell all of theirs and drive the price down substantially.

The bitcoin community is working to draw a clear difference between Bitcoin (an objective system that is based purely on math) vs altcoins/shitcoins/crypto (centralized scams that use cryptography to rob unsuspecting retail investors) which are attempting to ride the coat tails of Bitcoin and its honest incentives.

Bitcoin is open, honest, and fair.

Crypto is 99% scams. It might even be 100% scams.

Iroh

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Quote from: Kaliandra on December 29, 2022, 08:02:27 AM

hi friends everyone? This is my first post, and I'm not experienced in the world of crypto. I want to ask, what's the difference between bitcoin and crypto? I hope all my friends can explain to me,,?

Yeah, I wouldn’t bother to add to the list of explanations differentiating between cryptocurrency and bitcoin. And I’m confident that with these explanations, your question is answered.
I just want to quickly point out that among all the numerous coins that is grouped as cryptocurrencies, bitcoin reigns supreme and should be what you should be focused on now. All other alternate coins are as risky as they come and is better left alone.
While learning more about bitcoin, I think it’s noteworthy to stress the point that exchanges are never safe to keep and store your bitcoins.

kamvreto

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MAaaN...!! CUT THAT STUPID SHIT

Quote from: Lucius on December 29, 2022, 09:39:40 AM

~snip~Everything else that appeared after tried to compete with Bitcoin in some way, whether it was about max coin supply, block size or forcing POS as some kind of "better" POW alternative. It's no secret that every altcoin that is based on POS, has x100 more max supply and it is premined can not be in the same category as Bitcoin.

and all racing to build their own crypto claiming to be able to rival bitcoin in everything from transfer speeds, to cheap fees and more. But those developers don't realize that the bitcoin community is stronger, the bitcoin network is decentralized, unlike altcoins which are centralized and camouflaged assets and assume the system is decentralized. Bitcoin still survives with POW and Altcoins like Ethereum move to POS.

Bitcoin is the most advanced part of cryptocurrencies and Bitcoin = Bitcoin.

Quote

In other words, the only man who didn't ask for anything for himself and didn't get rich from his invention is Satoshi - everyone else did it for profit.

and the creator of Bitcoin remains unknown and hides himself. while altcoin developers are currently competing to appear and be at the forefront with the goal of profit and fame. it's pretty common to hear.

Mate2237

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Quote from: Kaliandra on December 29, 2022, 08:02:27 AM

hi friends everyone? This is my first post, and I'm not experienced in the world of crypto. I want to ask, what's the difference between bitcoin and crypto? I hope all my friends can explain to me,,?

Crypto is the umbrella body of bitcoin, while bitcoin is a branch of Crypto but bitcoin is the KING in the crypto ecosystem. There are many cryptos and bitcoin is one of them. Another name for bitcoin is BTC which is the short form of it.

One of the main difference which I Know, crypto which is the short form of cryptocurrency can't be used to buy anything because it is not coin per say but it is the general name given to all digital Coins. While bitcoin is a coin that can be used to buy things.
Linguistically, crypto or cryptocurrency is a common name while BTC or bitcoin is a proper name.

Smartvirus

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Quote from: Coin_trader on December 29, 2022, 08:28:26 AM

Simply Bitcoin is a type of crypto currency. They are not different since crypto currency is just the classification of Bitcoin.

Fiat = USD, EURO & other currencies
Crypto Currency = Bitcoin, Ethereum, Litecoin and other shitcoin

I hope you understand the simple arithmetics because, this is some precise and direct explanation of your question using mathematical expressions.

Crypto or cryptocurrency is just a broad or canopy name for any form of digitalised currency. Just like you have people say money (fiat) currency. Meaning money backed by a central bank like you have in $Dollar, £pounds, #Naira and the many indigenous currencies of existing nations out there.

When it comes to cryptocurrency, we have BTCBitcoin, Ethereum and the lots of them out there.

Mind you, Bit on is the pioneer currency and as such, any other coin other tha Bitcoin is referred to as an Altcoin (Alternate or alternative cryptocurrency).
Check some terminologies and it might aid you in understanding what is going on in the crypto industry.

CryptoPanda

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Though bitcoin is a form of cryptocurrency, bitcoiners like to separate bitcoin from the rest of the pack so bitcoin is regarded as itself “bitcoin” in a lone box and all other cryptocurrencies(Altcoins) are grouped together. The major difference I think is the price fluctuations between the two, cryptocurrencies generally both bitcoin and altcoins are volatile but altcoins explode more. There’s also a kind of relationship between both, where if bitcoin rises, Altcoin rises exponentially and if bitcoin falls, altcoins falls exponentially as well.

Eureka_07

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Quote from: Kaliandra on December 29, 2022, 08:02:27 AM

hi friends everyone? This is my first post, and I'm not experienced in the world of crypto. I want to ask, what's the difference between bitcoin and crypto? I hope all my friends can explain to me,,?

Bitcoin is an example of cryptocurrency. Cryptocurrency is a digital currency/money, it was created so people can transact with one another away from banks or any financial entity. One objective is for us to be freed from the chains of these governing bodies.

Dunamisx

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Quote from: Kaliandra on December 29, 2022, 08:02:27 AM

what's the difference between bitcoin and crypto?

We have alot of digital currencies forming the constitute of cryptocurrency but bitcoin is the first and only decentralized one of all other cryptos which they were also referred to altcoins, bitcoin os believed to be created by a pseudoanonymous person named Satoshi in which the process of it mining required a proof of work by solving complex mathematical equations while bitcoin is given as a block reward, bitcoin also uses the blockchain for the verification, confirmation and storage of bitcoin and their corresponding transactions, you can learn more by a simple google search through the internet or using the forum search option for better definitions.

Lucius

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In my opinion, the biggest difference between Bitcoin and other cryptocurrencies that were created after it is that Bitcoin has remained essentially unchanged from the Genesis block until today. Of course, throughout this time we had some upgrades that should have made Bitcoin more functional considering the fact that its user base has increased over the years from a few tens of people to several million.

Everything else that appeared after tried to compete with Bitcoin in some way, whether it was about max coin supply, block size or forcing POS as some kind of "better" POW alternative. It's no secret that every altcoin that is based on POS, has x100 more max supply and it is premined can not be in the same category as Bitcoin.

In other words, the only man who didn't ask for anything for himself and didn't get rich from his invention is Satoshi - everyone else did it for profit.

Taskford

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Quote from: Kaliandra on December 29, 2022, 08:02:27 AM

hi friends everyone? This is my first post, and I'm not experienced in the world of crypto. I want to ask, what's the difference between bitcoin and crypto? I hope all my friends can explain to me,,?

Good you ask that basic question so hopefully the answers given gives an exact idea about things you want to learn about bitcoin and other cryptocurrency.

Maybe to add up some information to help you get more better knowledge about it try to grab some information by researching about bitcoin on google. Also you can read up the pinned message of the forum or even create different more thread in this section to ask about your other question thay bothers you since there are reputable member will share their knowledge about some things they know about crypto.

Igebotz

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Quote from: Kaliandra on December 29, 2022, 08:02:27 AM

hi friends everyone? This is my first post, and I'm not experienced in the world of crypto. I want to ask, what's the difference between bitcoin and crypto? I hope all my friends can explain to me,,?

Crypto is the umbrella term for digital / micropayment currencies like Bitcoin and other altcoins, much like Fiat is the general term for all local currencies (Dollar, Naira, Cedis, etc.). And keep in mind that the cryptocurrency world is very risky, from storage to spending to investment; you should know what you are getting into before buying.

Do not fall for quick money investments; there is no shortcut in the world of cryptocurrencies; you get what you pay for. Don't invest if something seems too good to be true.

Edit:

Quote from: Coin_trader on December 29, 2022, 08:28:26 AM

Simply Bitcoin is a type of crypto currency. They are not different since crypto currency is just the classification of Bitcoin.

Fiat = USD, EURO & other currencies
Crypto Currency = Bitcoin, Ethereum, Litecoin and other shitcoin

Maybe you confused the word of crypto to altcoins which has a lot of specific difference in Bitcoin.

You beat me to it..... Nice explanation.

Coin_trader

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Quote from: Kaliandra on December 29, 2022, 08:02:27 AM

hi friends everyone? This is my first post, and I'm not experienced in the world of crypto. I want to ask, what's the difference between bitcoin and crypto? I hope all my friends can explain to me,,?

Simply Bitcoin is a type of crypto currency. They are not different since crypto currency is just the classification of Bitcoin.

Fiat = USD, EURO & other currencies
Crypto Currency = Bitcoin, Ethereum, Litecoin and other shitcoin

Maybe you confused the word of crypto to altcoins which has a lot of specific difference in Bitcoin.

Topic: what is the difference between bitcoin and crypto? (Read 274 times)