War of words - the effect of language on Bitcoin

[xenotrunksx]

I have heard several terms used to describe Bitcoin and altcoins.  Digital currency, cryptocurrency, and my least favorite virtual currency.  Do you feel the connotations associated with each of these terms paint Bitcoin in a particular light?

For example I feel mainstream media tend to use the term virtual currency in an attempt to associate cryptocurrency with a sense of "it's not a real thing". 

Whether intentional or not I think each of these terms will invoke a different response from a crypto layman depending on which term is used.  Or does it not really matter in your opinion?  Thoughts?

[RodeoX]

That's interesting. I would think it does matter and your example is apt. The strange part is that most people consider paper money to be "real".

[bitbunnny]

In most cases I use term cryptocurrency or virtual currency. I haven't though very much about the meaning of this term but with term virtual currency I don't mean to say that Bitcoin isn't real just that is not "toucable", so paperless.
Maybe some techical and lingual experts could explain more about the real meanings of all this terms and what would be the most correct to use.

[franky1]

yes i have seen a few times common people think of virtual currency being the funny play credit balance you get for free when playing facebook zynga poker.
they talk about bitcoin the same way when its in the context of virtual currency

as for cryptocurrency. some think of it as dark, cryptic and strange. and see it more of the darkweb geek stuff.

thats why when asked what i do. i just say im an international currency and asset trader, as my intro.

[topesis]

I don't really think the name Virtual currency was a deliberate attempt to have a ditch at Bitcoin, even to some people, the concept of Bitcoin is not real since they can touch it like the paper money and they find it difficult to accept this new reality.

[jak3]

yes terms can sometime be very important because  words are the most powerful weapon of human's creations but i honestly think the word digital cryptocurrency is actully one of the perfect word to describe these types of coins and if mainstream has a problem with that then they should not be capable to accept the revolution or the evolution.

[unamis76]

I agree with the OP 100% and this has crossed my mind quite a few times. Journalists use language in their favor, especially on "shill" media where someone with a lot of influence wants to pass some kind of message through. Virtual currency is also my least favorite term as it does seem to be used in a bad context when mainstream media is giving bad news about Bitcoin, which is "funny" because if you think about it... Can't the numbers on your regular ATM be considered a virtual currency?

Examples: 1, 2, 3, 4 and I probably could go on.

That's interesting. I would think it does matter and your example is apt. The strange part is that most people consider paper money to be "real".

I wouldn't say it's strange... I'd say it's actually quite funny and an oxymoron What is strange is the fact that we still value a culture where we teach our children not to question things... Such as: why the hell does a printed piece of paper have any worth? Can I trust what the ATM tells me when it says I have X $ in my account?

[coin-investor]

I have heard several terms used to describe Bitcoin and altcoins.  Digital currency, cryptocurrency, and my least favorite virtual currency.  Do you feel the connotations associated with each of these terms paint Bitcoin in a particular light?

For example I feel mainstream media tend to use the term virtual currency in an attempt to associate cryptocurrency with a sense of "it's not a real thing". 

Whether intentional or not I think each of these terms will invoke a different response from a crypto layman depending on which term is used.  Or does it not really matter in your opinion?  Thoughts?

I don't use the word "virtual" referring to Bitcoin,it's real money to me I can withdraw it buy a lot of stuffs offline,for me virtual connotes not real when in fact they are much real and had impact on millions of people I prefer to call it crypto currency.

[jtipt]

Yes and No, using certain words to describe bitcoin can affect it a bit as you said virtual currency makes it look like it's not real, other most used word to describe is crypto currency. Now the thing is most of the people don't know the meaning of cryptocurrency they just associate it with bitcoin, they don't generalize it. So the words don't matter alot since anything you say if the people know about bitcoin they would associate it with bitcoin know what it is, the generalized word isn't given much of the thought.

[KennyR]

No big impact can be felt on bitcoin's growth or adoption just because of the several terms that are used to describe bitcoin and the altcoins network. Digital currency, cryptocurrency were much used than the term virtual currency. Each term might have small variation in meaning but users were clear that everything is used for a particular network.

[Xester]

No matter what kind of words we are going to use to describe bitcoin be it cryptocurrency or virtual currency as long as the reader understands what it implies then it doesnt really matter.  If the television tends to call bitcoin as a virtual currency they are in the right path since bitcoin is existent and operates in the virtual world without any cash or paper note to represent it.

In my own opinion whatever words used to coin bitcoin is okay as long as it promotes bitcoin positively and not in a negative way like saying bitcoin is black market money and is a scam. Negative publications should be avoided, since the words thrown out negatively has a bad impact on bitcoins image.

[jacaf01]

I don't like the word Virtual associated with something as real as Bitcoin, though it seems the paper are converging towards Digital currency more then Virtual presently.

[Patatas]

I have heard several terms used to describe Bitcoin and altcoins.  Digital currency, cryptocurrency, and my least favorite virtual currency.  Do you feel the connotations associated with each of these terms paint Bitcoin in a particular light?

Not really.While it all sounds okay in English,the complexities arise when these terms are translated in other vernacular languages.

Whether intentional or not I think each of these terms will invoke a different response from a crypto layman depending on which term is used.  Or does it not really matter in your opinion?  Thoughts?

Virtual/Digital Currencies sounds vague.Even Paypal,Skrill etc are digital form of the currencies and bitcoins is completely different from them hence the term crypto-currencies should be allowed.

[xenotrunksx]

I think everyone is in agreement that the terminology used by media/journalists cannot stop the success or failure of Bitcoin and it will live/die by it's own merits.  I would argue that it can effect cultural views of cryptocurrency, at least in the short term.  The base of these terms are not new - digital, virtual, crypto.  Though they can mean the same thing if used in speech and understood through context, they differ slightly, more so by a measure of degree than a measure of definition.  I'm no linguist and can only speak to my own culture but here are my emotional reactions to these words being a native english speaker:

Virtual - a mock/fake version.  Virtual reality.
Digital - a non-physical item, a version of a object that cannot be held but still serves the same function.  ie a digital copy of a game versus a physical disc.
Crypto - encryption, secret, math, dark, unknown

I like to think of it as lighting up certain areas of your brain through word association and imagery.  Priming you for the message that is being given.  Now this is not some conspiracy post.  We all do these subtle manipulations in our life to push our own beliefs and agenda (though some do so with more sinister intention than others).  It may not even be intentional, but a product of the natural skepticism and lack of knowledge of the uninitiated.

I would prefer everyone use the newly (relatively so) coined term cryptocurrency and force the general public to learn the definition through exposure.  As has been said in this thread already digital currency already sits in your online bank account.  Virtual currency already sits in your World of Warcraft bag.  Cryptocurrency is new and it can change everything.

[avatar_kiyoshi]

I do prefer to cryptocurrency, because bitcoin basically have a crypto elements.

Virtual usually used by common people who even don't familiar with e-cash/e-money which they called them virtual money too, it's exist, people like that

Digital currency I do called them similar as token, but have a usability wide function.

[Juggy777]

Well the most easiest is crytocurrency or decentralised but then not all are aware of this words. It becomes difficult for people to understand this words. So people often use different words for their convenience. But don't ever tell people that alt coin and Bitcoin are same they are not. Digital currency is allowed or you can it's a cashless currency. But always try to be specific so that people don't confuse them, cause they are already confused with the vast information.

[nara1892]

when I hear word " virtual", my mental picture is something I cannot touch. I think it is what most people think about. but when I hear word "cryptocurrency", it sounds cool. my mental picture is a currency in another shape. so I prefer to use cryptocurrency.

[Jet Cash]

Fiat bank deposits are virtual currency with no asset or other backing. At least Bitcoin has the backing of the crypto PoW.

[bamboylee]

It is harder to explain the word cryptocurrency to a layman. At least virtual, internet or digital currency is easier or no explaining needed at all. Though OP is right, it is sounds that bitcoin is not real when you say it is virtual. But most people will relate easier when you say it is a virtual currency.

[franky1]

other war of words are bitcoins own invented words.

wallet.. does it mean the client or just the keybackup file
wallet.. but its not a leather thing in your pocket that holds bank notes
bitcoin.. does it mean the node network, the protocol code rules or the currency unit
bitcoin.. but its not a coin. its a unit of measure, infact its a ledger entry of value.

i think things need to change.
EG
measure the currency in satoshi's and bits(100sat) that way the currency vs protocol are distinguishable. its inevitable we will at some point be measuring value in bits and sats so maybe time to get used to it now to help avoid confusing the currency with the technology

a wallet storing the private keys. should we rename it as a keyring (a thing you store your keys on)