Whatever...legally, neither are accurate. A cryptocoin is legally property, not a security, so the legally accurate term is "pre-sale." A pre-sale of a (digital) good not yet manufactured, like a lawnmower company pre-selling lawnmowers it hasn't manufactured yet. Regardless of what you think of them, the Etherium boys are right on that one. Seems they consulted real lawyers, rather than deciding to play one on the Internet.

But that said, I also know what the world "nitpicking" means. As of now, I might as well get all fussbudgety over the metaphorical use of the term "schizophrenic," as it would be as futile as getting pedantic over the term "IPO" as used around here.