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Topic: Why is Bitcoin called “Bitcoin”? - page 3. (Read 540 times)

copper member
Activity: 154
Merit: 234
August 18, 2021, 01:16:39 AM
#4
Had Satoshi named it differently, Bitcoin would probably still be enjoying the success it has today, provided it won't be given too nuisance a name as BoobCoin or BeiberCoin. Bitcoin got its success from its features.

Anyway, how could you even "never go back to the society built by centralized legal tender" when you are living in it?

Finally, Bitcoin is only successful because it is beneficial for human use. It was meant to be a tool for humans to make use of. Other than that, it couldn't have been created even.


Yes, Bitcoin is successful because it is good for mankind. It becomes a tool used by humans. Here, I emphasize that why Satoshi Nakamoto named Bitcoin as Bitcoin, mainly because of the word bit. This is the basic unit of computer language. Therefore, Bitcoin belongs to the currency of computer civilization, that is to say, the currency used by artificial intelligence in the future. This is also a prediction and enjoyment of the future.
member
Activity: 84
Merit: 18
August 18, 2021, 01:14:57 AM
#3

The name of Bitcoin is not important, what is important is what it is.


legendary
Activity: 2576
Merit: 1860
August 17, 2021, 10:05:01 PM
#2
Had Satoshi named it differently, Bitcoin would probably still be enjoying the success it has today, provided it won't be given too nuisance a name as BoobCoin or BeiberCoin. Bitcoin got its success from its features.

Anyway, how could you even "never go back to the society built by centralized legal tender" when you are living in it?

Finally, Bitcoin is only successful because it is beneficial for human use. It was meant to be a tool for humans to make use of. Other than that, it couldn't have been created even.
copper member
Activity: 154
Merit: 234
August 17, 2021, 08:58:16 PM
#1
On January 3, 2009, mysterious Satoshi Nakamoto created, compiled, and packaged the first source code of Bitcoin, inventing the Genesis Block with his own hands, which marked the genesis of the Bit world in its real meaning.


Today, Bitcoin has become an important force influencing the world's financial and currency structure. Waves of pioneers are constantly practicing, exploring, and pushing the spiral progress of the entire encryption world. As I see it, Bitcoin is not just a technology or a currency, it represents a brand new idea and human civilization.


Like many other Bitcoin believers, from the moment the idea of Bitcoin stepped into my mind, I can't get rid of it anymore since it has become a part of my life. I will never go back to the society built by centralized legal tender because I have become a member of a new human civilization.


Do you feel the same? Can you still trust the fiat world?


When you breathe the fresh air, you will never be willing to go back to that muddy, bleak world. The only thing you think about is how to let the light spread quickly and render the fresh air permeate the entire time and space.


I have a question for you.


Why is Bitcoin named “Bitcoin”? Have you ever thought about it?


For the time being, Bitcoin is widely known, even to people who don't have it. But why is that name? In effect, it is Satoshi Nakamoto who coined the title. He released the Bitcoin white paper——Bitcoin: A Peer-to-Peer Electronic Cash System.


Why did he use that name? The answer lies in the name itself.


Bitcoin, this word can be divided into two parts, one is ‘bit’ and the other is ‘coin’. We can understand the meaning of the latter simply, such as 'cash' or 'currency', which is also the currency attribute of Bitcoin. In terms of the former, 'bit' means small amount, and 'a bit' can be interpreted as 'a small amount'. Another significant explanation of it is the smallest unit of information used by computer: binary.


‘Bit’ set up the foundation of the entire information computer industry. The most impressive development of human civilization in the last fifty years is based on computers and the Internet. We have established a novel Internet civilization. Bit is the cornerstone of all those civilizations.


Quote
Bit, binary digit, a computer terminology, the smallest unit of information. The information contained in one unit of a binary number is one bit. For example, the binary number 0100 has 4 bits.


In binary system, each 0 or 1 is a bit, which is the smallest unit of data storage as well. Eight bits is a byte. The number of CPU bits in a computer refers to the maximum that the CPU can process at a time. CPU of 32-bit computer can manage data up to 32-digit once. We are familiar with that concept, it just we may rarely associate it with Bitcoin.


The basic composition and conversion of units in information technology:

Code:
1 Byte = 8 bit
1 KB= 1024 B
1 MB = 1024 KB
1 GB = 1024 MB
1 TB = 1024 GB

Technology is changing our world every second, but however advanced technology is, it is composed of the most basic units, namely, 0 and 1. Now have you figured out the origin of the name?


Bitcoin is essentially not for human use, it belongs to the computer world, a currency for machines. Adopting the code language of 'machine', Bitcoin represents the evolutionary direction of a new human civilization——Digital Civilization. That is why I call this brand-new civilization created by Satoshi Nakamoto 'Bit Civilization'.


Modern computer network is founded on binary, while bit is the most basic and smallest unit of information computer network. Bit weaved the entire human information network civilization and Satoshi Nakamoto is now embarking on a fresh value system on the basis of information network, which signifies the coming of an advanced civilization of mankind.
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