Topic: Why is Bitcoin called “Bitcoin”? (Read 540 times)

Bitcoin is known as a type of cryptocurrency because it uses cryptography to keep it secure. There are no physical bitcoins.  Bitcoin called Bitcoin the only I know  It is a compound of the words bit and coin.

i think there is no specific reason why satoshi nakamoto named it bitcoin, but i think he made it for the reason of not trusting the conventional bills and coins. and i think he made it bitcoin to pay homage to the word "bit" which is widely known binary system that the internet use, since bitcoin is basically what called an "Internet Money".

There is no love and hate for no reason. Why did Satoshi Nakamoto name it Bitcoin? There must be a reason, and what we care about is not this, but what it can bring us? What can I use it for? Why can it be used? that's enough.

Everyone is free to think why it is called Bitcoin, but who knows the real reason why it is called Bitcoin is Satoshi Nakamoto as the creator of Bitcoin.
Unfortunately Satoshi Nakamoto disappeared without leaving a trace, so we don't know the secret of choosing the name Bitcoin. But that's not
important for us to know, whatever it's called, as long as Bitcoin provides benefits to many people, that's the most important thing.

The first thing that comes to my mind when I hear the word "Bitcoin" is a digital currency and I wonder why the creator of BTC does not named it after him although the identity of Satoshi Nakamoto as the creator has never been verified. As time goes by, the interest of people involved in BTC or cryptocurrency as a whole revolves around to future uses and value so no one really cares about why is it called Bitcoin

I must admit that i am still involving with banking system but not to the extent of my own funds are there because couple years ago i already withdrawn all
my funds in banks and transferred all to crypto and 40% into business.

though funds for my children remains inside banks because i want them to decide when time comes what to do on those funds,
and also i want assurance once there is something happen bad, at least they will still have funds to survive.Of course none of us really knows what is behind it, But OP at least give a close idea on how the name might be taken.

This is why I wrote this article. We are now accustomed to the name Bitcoin, and at the same time, no matter what the name Bitcoin is, we will support it. Because we support it, not because of its name, but because of its own function and role, it has brought us tremendous changes. However, in my opinion, no matter what, Satoshi Nakamoto must have a certain reason for the name. I think the reason is related to the computer's bits. Bitcoin is the currency created by Satoshi Nakamoto for the computer world.

Yeah, but the "Bit" on Bitcoin is already given to, computer. Take a look at the last part of the first post, it was explained why Bitcoin, and I believe it is also the reason why Satoshi Nakamoto called it Bitcoin, not another random name, it has a reason.

More important here is the use of Bitcoin, to be honest, the name is a different thing.

We dont know on whats the basis on why its been called "Bitcoin" but basing on my own common sense and understanding then it do talks about "Bit" which you can presume it is really connected to codes or something like that.

Only satoshi knows on why he named Bitcoin = Bitcoin.  . We dont know the actual thing unless if satoshi itself would tell on why its name to be like that.
Thing here is that we should be thankful that this one had been created because this isnt talking about money making opportunity but also
its its actual utility.

I think no one really knows about it and it will not make any difference if it was a little different name everyone only cares about growth of the bitcoin.

I never thought about it till now .Well i think that it is named bitcoin because satoshi nakamoto wanted it to be called bitcoin :v lol .To be serious i think there are some mathematic calculation for it o be named which is related to bits

What I want to emphasize here is that Bitcoin is not only for humans, but for humans and machines to use together. Bitcoin is based on mathematical algorithms and is a kind of machine trust. It establishes a system of value exchange and value circulation between people, people and machines, and machines and machines. That's why I call the civilization established by Bitcoin a brand-new human civilization, which is also a machine civilization. Of course, humans are always the subject of use, and machines also serve humans.

Why Internet is called Internet or Why facebook is called facebook 
Only Satoshi Nakamoto knows why he named "Bitcoin" as "Bitcoin BTC". There is no need to debate why this name is better or why he used this name.

I am pretty sure the name bitcoin created by Satoshi Nakamoto is a name that represents cryptocurrency, what I understand is bitcoin was created with extraordinary ecosystem and transform various new technologies and innovations created from the name of Bitcoin. that's why we all here to discuss about bitcoin and gain profit from market cryptocurrency 

You are correct, but the information is directly from internet, there's no different between internet explanation and yours explanation, you tried for making a research but you should try to drop source of your information whenever you grab some details online, in addition of what you said i think the name bitcoin has not used to any other thing before arrivers of Satoshi Nakamoto to invent cryptocurrency, BTC ideas is personal or group idea derived from Satoshi because it's digital currency, all this our points I'm seeing it like assumptions base on information on internet don't always be credible.

Why is bitcoin called "bitcoin" there was a bit gold idea and people start calling gold coin ,gold bit and there was paper on distributed property titles. Since it's going to be one coin of bit gold, so it is fair to call it bitcoin . 🙏

I do not think it matters whatsoever name bitcoin was called with. I am pretty sure it wouldn't have had impact whatsoever if Satoshi had decided to name after himself and we have 'Satoshi' instead of 'Bitcoin'.
If you explained the name of bitcoin this way, does that mean that there's a story behind the name of every cryptocurrency out there. I do not think so.
The most important part of a cryptocurrency isn't the name but the services which it aims to provide. Bitcoin enjoys this much popularity not because of its name (no one really care about the name), but because of the freedom and decentralisation it gave to the masses.

Coin created by bits, so called bitcoin? Might be and might not. Although not sure of from where the name come from, its yielding huge benefits to all who are here. Hats off to satoshi and others who are behind it growth in the market. Every other crypto currency must be really thankful to bitcoin. Now vast society is behind Bitcoin and its growth.

99% of ideas around Bitcoin existed long before 2008. There was a proof-of-work money, there was a bit gold idea and there was paper on distributed property titles. ... Since it's going to be just one coin of bit gold, it's only fair to call it bitcoin.
Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual. It's like an online version of cash.
People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people.

If Satoshi never intended Bitcoin for human usage,  BotCoin would sound more plausible since it's meant for robots

Anyhoo, I don't get why some people would keep digging into trivial stuffs such as "Why the bit behind bitcoin?" and "Do you think Bitcoin would be the ultimate embodiment of Skynet?"

Just use the damn thing already.

I don't think Bitcoin is the currency of the robot world. On the contrary, Bitcoin is meant to be used by ordinary people. It solves the problems of individuals in relation to their savings and transfers of funds without the involvement of third parties, so BTC acts like a coin when paying for goods and services.

As you said, a bit is the smallest unit of information. Yes, you're right at this point. Bitcoin is a peer-to-peer system that uses a public ledger which is a decentralized database. Everyone knows that databases contain information.

Thus, we have "bit" and "coin". In my opinion, this is the best name for any cryptocurrency. Thanks to Satoshi Nakamoto for inventing such an euphonious word.

Bitcoin was just  a project born to become successful I'm just glad to know Bitcoin
Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain.

Alright, this was starting to get interesting until you said bitcoin is essentially not meant for human use but for the computer world, really? So, who makes use of computers if not human beings? Who invented computers if not human beings? Seriously, you all should stop all these annoying theories. Bitcoin is meant for human beings to make use of it, it’s simply an advanced method, which is one thing that’s common with humans; as time goes on we keep advancing, simple. And just like someone said, the name doesn’t even matter, even if it seems like the right name for it, it still doesn’t matter.

Even if he named it Boot Coin, it’s still going to work as it is working now. And moreover, he wasn’t the first that attempted this, just that bitcoin was successful because of the internet is wide now, unlike then. So if those first attempts by other people to create something like this was successful, then we wouldn’t be hearing of bitcoin today, it would be just one of these altcoins.

We will not just neglect the fiat world because we assume a better alternative has emerged afterall Bitcoin can't get it's base without the fiat currency which is what actually gives value to the coin. We are all willing to embrace the bit civilization era but the centralized currency will still be needed to help control and monitor transactions within and outside every nation for accountability sake so we don't run into a society of fund mismanagement

why is bitcoin called bitcoin? most likely satoshi named bitcoin because he was like a coin, that's why he named it bitcoin, actually if we want to know why satoshi named money in digital with bitcoin, maybe we should ask the bitcoin developer directly. actually what we want is the price, not the name..

Yes, you are right. I very much agree with your view. Whether it is the first supporter of Bitcoin or the current supporter of Bitcoin, they did not choose to support Bitcoin because of its name. It is because of the function of Bitcoin, the freedom that Bitcoin brings us, and we choose to support Bitcoin. But this does not affect our thinking about why Satoshi Nakamoto named Bitcoin as Bitcoin. This is a two-dimensional problem. In this article, I will break down the word Bitcoin into two parts, bit+coin, where coin stands for currency, and bit stands for the smallest unit of measurement in a computer. So I came to the conclusion that Bitcoin is the currency created by Satoshi Nakamoto for the computer world, and from this I think of the future silicon-based civilization. Of course, this is just my personal conjecture, and there is no evidence that my conjecture is correct. I will publish this possibility and communicate with you. I think this is a rather interesting question.

In fact, read all the words in the dictionary that start with B, and chose the most suitable Bit. There is no ambiguity and no negative expansion. The same is true in more than 20 major languages around the world. Except that there is a language in Africa, it is a strange animal.

This is a real beautiful explanation.

Honestly speaking in my 3-4 years of journey with bitcoin i also didn't think about it Before. But when i see your topic title its increase my curiosity that i must click on this topic and i have to know what is he write. And i also want to know why bitcoin is called bitcoin. This is the first time in my life i got and mysterious questions with instant answer. Truely man you are awesome. We have to admit you had creat a very informative topic. And i also think there had lots of people who might not think before seeing your topic title that why bitcoin called bitcoin. You are genious man. Keep growing like this brother.

Name is just a name and it can not decide a quality, usability and value of a person, a company or a cryptocurrency.

But if it has a name, people should write it down as correctly as possible. The discussion on when to use Bitcoin and when to use bitcoin is interesting.
Do you know the difference between Bitcoin and bitcoin?

The earliest people who believed in Bitcoin wasn't impressed by its name but by its features. They were enamored with the revolutionary technology not because it is called Bitcoin but because it offers properties never before seen from a currency. They've predicted a bright future for the cryptocurrency not by simply looking at its name but by going through the design detail by detail. Bitcoin remains to be the decentralized, transparent, censorship-resistant, permission-less technology even if it is called another name.

The name is immaterial. It's probably why Satoshi didn't even care to explain why he/she/they called the currency Bitcoin.

I do not think that Satoshi named it Bitcoin because he thinks AI will use it in the future. If everyone predicting AI will be more intelligent than us they would do away with the concept of money and not use it but that is another topic. Satoshi probably named Bitcoin because of bits in computers I do not think there was any other reason and I do not think it means a lot why he named it Bitcoin.

This is actually my first time to have read such a good explanation why Bitcoin is named as such by sir Satoshi Nakamoto. And I am not anymore wondering why many is describing Bitcoin as the money of the internet because I am seeing it as the next evolution in our computer-dominated world right now. And rightly so, Bitcoin is representing not just money or currency but a new way of thinking away from the repressive control of the governments and the industry leaders. And I am not wondering why even the government right now is copying Bitcoin and really wondering why it is working for the many people.

It is only a name and I don't see big importance to know why it was named as Bitcoin.

However, I recalled an interesting topic. Nomenclature convention. Bitcoin or bitcoin? When do we use Bitcoin and when do we use bitcoin?

I don't think it would enjoy the sam success if it were named differently, even if it's not annoying sounding name. Probably we can get by with it given that it only takes acclimation to the names since it delivers what it does anyway.

Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual. It's like an online version of cash. ... People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people.

Good friend, congratulations, you have gained true freedom because of Bitcoin. If I don’t write this article today, no one may ever ask this question: Why is Bitcoin called Bitcoin? This is a very simple question, but it is also a very profound question. Why doesn't Satoshi Nakamoto give Bitcoin another name? Because he wants to name it with bit? Because bit is the smallest unit of information in a computer. Therefore, I concluded that Bitcoin is the currency of the computer world and the currency of the robot world. This assumption may not be correct, but at least this is a very meaningful question.

The reason why it was called bitcoin, is because it came to eliminate unemployment, delay in transaction and safe to all our transaction in the world.
It is not control by any country in the world.
It is a decentralized currency that came to stand for the benefits of the world.

You completely described my situation. Now I strongly believe in the crypto world and I don’t want to be in the bank system any more. I feel free as nobody can ban my transaction and I can do with my money whatever I want. I can give them to any project I like.
What comes to Bitcoin’s name, I have never thought about it, but now I understand that it consists of the words coin and bit that is a unit of information measurement in the binary number system.

I never thought about the origin of the name before in my life, you wowed me. 
I don't truly feel safe in that I don't really trust fiat, it devaluates  my income so I have to select something for investment.
I read some of your articles and I love your Bit Civilization and the supposed more advanced world where Bitcoin and blockchain make a difference.
my question is, why are you so confident in its coming, it seems extremely and exceptionally distant and unlikely, just a concept. How could you firmly believe Bitcoin has the power to defeat governments and become the incarnation of justice?
yes, numerous new consensus would be reached and countries would compromise. But I do doubt the power of Bitcoin in the battle with governments.
Bitcoin is powerful, but not that powerful.

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.

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

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.

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.




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:


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.