Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by JayJuanGee (1)
Cryptographers are not happy with how you’re using the word ‘crypto’
Look up the word “crypto” in Webster’s dictionary, and you’ll see it refers to cryptography, which in turn is defined as “the computerized encoding and decoding of information”. Search “crypto” on Google, however, and you’ll see a host of top results pointing to cryptocurrencies like bitcoin and ethereum.
I think calling cryptocurrencies ‘crypto’ is a poor choice,
Look up the word “crypto” in Webster’s dictionary, and you’ll see it refers to cryptography, which in turn is defined as “the computerized encoding and decoding of information”. Search “crypto” on Google, however, and you’ll see a host of top results pointing to cryptocurrencies like bitcoin and ethereum.
I think calling cryptocurrencies ‘crypto’ is a poor choice,
I remember I did some R&D about the word “cryptocurrency” on request of WO bros and got similar results.
As always You WO users never disappoint me in bringing something new and something interesting around the Bitcoin
JayJuanGee thank you for pointing out an excellent point i never thought about it before. Your post has forced me to do some R&D and go back and read the Satoshi Nakamoto's White paper again one more time (since 2018). Well he too did not mention about any such thing like cryptocurrency. Frist of all he called it a "Peer-to-Peer Electronic Cash System" that also is in heading and in the abstract only. Further nothing mentioned anything to do with "Crypto" or "Currency" even the word "Currency" he used it to explain the "physical currency" only. So bitcoin is no way any type of currency at all. Then for word crypto he bring it up only when explaining the need of an "electronic payment system based on cryptographic proof instead of trust"
So I'm 100% convinced and agreed to your statement that "the term cryptocurrency is abused and confusing in mainstream". Ok. Next then I did some googling just to check any reference related to the word "cryptocurrency" and to my no surprise cryptocurrency word was never used any time before early 2017 and that was the time of shitcoins .
Only one reference I found of "cryptocurrency" related to or near to Bitcoin is on the official website bitcoin.org in FAQ section of "Who created Bitcoin?". It was mention in a reference to Wei Dai as "Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai"
And that forced to me to check first reference of Sathoshi's white paper related "W. Dai". But unfortunately that also not anyway close to the term what we know today as "cryptocurrency".
In conclusion I'm convinced and I agree I did broaden the concept beyond bitcoin when I mentioned "cryptocurrency" so will try to rephrase one more time
Bitcoin:
"A Bitcoin is a electronic payment system of the world where gravity is so strong that nothing—paper money or even governments such as Central Banks—can escape from it.
The theory of cryptography predicts that a sufficiently compact mass (21million coins) can decentralize governments to form a new world."
JayJuanGee thank you for pointing out an excellent point i never thought about it before. Your post has forced me to do some R&D and go back and read the Satoshi Nakamoto's White paper again one more time (since 2018). Well he too did not mention about any such thing like cryptocurrency. Frist of all he called it a "Peer-to-Peer Electronic Cash System" that also is in heading and in the abstract only. Further nothing mentioned anything to do with "Crypto" or "Currency" even the word "Currency" he used it to explain the "physical currency" only. So bitcoin is no way any type of currency at all. Then for word crypto he bring it up only when explaining the need of an "electronic payment system based on cryptographic proof instead of trust"
So I'm 100% convinced and agreed to your statement that "the term cryptocurrency is abused and confusing in mainstream". Ok. Next then I did some googling just to check any reference related to the word "cryptocurrency" and to my no surprise cryptocurrency word was never used any time before early 2017 and that was the time of shitcoins .
Only one reference I found of "cryptocurrency" related to or near to Bitcoin is on the official website bitcoin.org in FAQ section of "Who created Bitcoin?". It was mention in a reference to Wei Dai as "Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai"
And that forced to me to check first reference of Sathoshi's white paper related "W. Dai". But unfortunately that also not anyway close to the term what we know today as "cryptocurrency".
In conclusion I'm convinced and I agree I did broaden the concept beyond bitcoin when I mentioned "cryptocurrency" so will try to rephrase one more time
Bitcoin:
"A Bitcoin is a electronic payment system of the world where gravity is so strong that nothing—paper money or even governments such as Central Banks—can escape from it.
The theory of cryptography predicts that a sufficiently compact mass (21million coins) can decentralize governments to form a new world."