Bitcoin Forum

Help to establish vocabulary and definitions here: http://www.bitcoin.org/wiki/doku.php?id=bitcoin_vocabulary

Useful. I have made some corrections for strict accuracy. If they are acceptable and my changes essentially stick then it's worth me spending some time expanding the list.

ByteCoin

Nice start!

I dare you to put a definition for "commodity". ;-)

This could be extremely important, once Bitcoin becomes more widely known. One small oversight in terminology today can bring disaster tomorrow.

Does anyone here have access to Westlaw? My law library is twenty miles away, and nobody would believe what I wrote here anyway. We need an accepted authority.

I posted a few quick definitions when I first saw this thread. I was thinking about adding it but I didn't get around to it. It just needs to clearly and neutrally express both definitions and perhaps mention that the primary definition has been hotly debated on the forum.

Commodity should not be on the vocabulary page. (I was assuming the suggestion to put it on was a joke.)

It's not a Bitcoin specific term, and isn't relevant to Bitcoin at all, other than so people can argue about what it is/isn't/does/doesn't apply to.

Yeah, he was joking, but I think it's a good idea and can be done non-controversially. People have to go to a bid/ask currency exchange to buy or sell bitcoins over the Internet. General market trading terms are very related.

"Chain Branching" is still without a definition.  Is this a valid or recognized term or is it something someone made up?


103,000 results for "chain branching" (with quotes) at google.com

I think the person who created the page just posted some quick terms without defining them. It's a perfectly valid term, although I would personally change it to Chain Branch. It's not a very complex term, but I'm having a hard time thinking of how to succinctly define it off the top of my head. I don't have time to work on it at the moment, but here is a sentence that I wrote while I was trying to think of how to lead in to defining it. I hadn't gotten to the chain branch part of the definition yet. This definition is somewhat descriptive of the term Proof-of-Work, which is another term that should be added. There are plenty more definitions which haven't been included yet. I'll add some more at some point when I've got some time and if I don't forget.
Edit: It just occurred to me that the Bitcoin difficulty increases at much smaller increments than x2. Bitcoin doesn't attempt to only get consecutive zeros, but tries to get the hash below a certain number when the hash is expressed as a number.

They were joking, but I wasn't.

What should have been considered by someone sharper than me is Bitcoin's use of several "terms of art" that are near and dear to the legal/commercial community; "cash, money, trade, commerce, exchange, worth, dollar," etc., and so on. All of them carry a kharma that could be avoided by using a different term that I can't seem to recall at the moment.

But I see Bitcoin going ahead, unnecessarily exposing itself to their consequences. I've adjusted my expectations, and we'll see what happens.

You're right!  I did. ^_^

*bump* so this gets more attention/effort.

Bitcoin vocabulary has created a new world.

Bitcoin vocabulary:

* The terms can be confusing used in the digital currency.
* I think this will help you get start new bitcoin adventure.
* Cryptocurrency network control by a singe minersor group miners.