Is "cryptocurrency" a good term?

[hatshepsut93]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

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[Jet Cash]

I don't think you will be able to change it, it has now entered into the language of the internet. It's like "blockchain", blockchain is now a specific subset of the original concept of chained blocks, and it contains many extra features.

[simongros]

I understand your concerns. But, on the contrary, i think it does do it justice for instance 'crypto' refers to the use of cryptography and without an intermediary and as such without an intermediary there is some cause to justify that it is decentralized. The term 'cryptocurrency' was conceived long before Bitcoin too.

[hatshepsut93]

I don't think you will be able to change it, it has now entered into the language of the internet. It's like "blockchain", blockchain is now a specific subset of the original concept of chained blocks, and it contains many extra features.

Well, we have things like Ethereum that call themselves decentralized platforms, but they are mentioned as cryptocurrencies on markets and in news, we have Initial Coin Offering, but they sell tokens. In Satoshi's whitepaper Bitcoin was described as "a peer to peer electronic cash system", the term cryptocurrency was introduced later, so I'd say quite possible that in the future Bitcoin will refereed as something that would better describe its propeties, especially if by that time we will have lots of different apps built on top of it that will make it much more than a currency or store of value.
As for blockchain, that adds even more confusion since people very rarely specify what kind of implementation do they mean - public and decentralized or private and centralized, so this also has to be addressed.

[santapants]

Pretty sure you're a decade late if you were hoping to change the terminology

[lionelho]

How about using the term concensus currency? BTW, I really don't care the term, as long as more and more people recognize it, then it's a symbol. Don't need to be a meaningful word.

[monkeydominicorobin]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

There are a lot of poorly defined terms in the history of mankind. Complaining about the term cryptocurrency is not the problem, the problem is how we decided to define it in the first place.

[psmachado]

Pretty sure you're a decade late if you were hoping to change the terminology

yes sir, this is the main fact! The term is what it is, and it is part of the history of Bitcoin, and maybee the history of world economy forever.

[jnano]

Names don't need to be descriptive. As long as they're unique enough and easy to remember they do the job.
Between "decentralized open applications platform" and "cryptocurrency" I'd choose the latter. It also sounds much cooler.

(Not really a Development & Technical topic...)

[haltingprobability]

QWERTY

</thread>

[imadmirer]

I think the term 'cryptocurrency' does the job. There are two sections of people. In the world of people with knowledge on bitcoin and its function the term certainly means something like 'encrypted currency' which clearly points out to the use of computers and digitalized currency. But for a common man not very aware of the system in vogue, it simply amounts to a 'secret currency' which is suggestive of his or her need to avoid! But when people get used to the process of transacting through bitcoin etc then the term becomes more appealing.

There is however a drawback for this term. The very principle of the bitcoin transaction is based on decentralization and openness. In either of the above terms, we cannot deduce these two principles. The term encryption neither hints at openness nor decentralization. In fact it is something contrary to that. And the meaning of being 'a secret' does not do any good.

Since the term cryptocurrency cannot be changed and it is in the use almost since the beginning it is not possible to modify it. However, what can be done is we can introduce a synonym for the term which can simply be 'eCurrency'. The term 'Digital currency' can also be suggested. However, it may simply mean the existing currency used in computers. Which otherwise will mean as internet banking transactions and the like which already are most commonly used where the currency is simply a dollar only that the number or figure is transacted from one system to the other.

The term 'eCurrency' will make it more appealing for both the experts and the common public. And when the use of eCurrency dominates slowly the confusing cryptocurrency will fade away. The advantage with the term eCurrency is that it does not directly convey openness or decentralization. However it does not convey anything contrary either, unlike the term cryptocurrency. This eCurrency as an alternative perhaps be better tuned to the needs and in allying the apprehension caused with the name cryptocurrency.

[brontosaurus]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

very nice thought I must say. Even I was thinking about the very same thing. Considering that every new idea here in the blockchain world is said to be cryptocurrency. Why can't we merely bring up an idea and implement it into blockchain without issuing any fucking ICO and creating a separate trade able coin for it. Cryptocurrency just narrows everyone's thought that its related to currency and financial market whereas it really has nothing to do with real currency as of now.

[phillipgibb]

CryptoCurrency seems to be the catchall word for everything related to blockchain; be it the blockchain, the currency, maybe a token or even a smart contract. If you are revering to just the currency then maybe it is a good term, what else would you make it? HashCoin?

[Coinsher]

It is.But its better to use a term that can easily to understand to the ordinary people.May a digital currency,it's slightly understandable.Digital means computer.Everyone now understand what computer can do.

[Andre_Goldman]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

well, another day at twitter I saw cryptographers almost had a 'tilt' because people using "crypto" as "crypto currency"

[Chaka321]

I think we need lots of new language to describe things in this space. Like if your main source of income is from crypto gains, mining, staking and ICO investing then what should you call your job description? Crypto-investor is just using language from the traditional investment world and adding crypto to it. We want a clean break from the old world and have words that describe the new tech opportunities precisely.

[MJG24]

Words can be very confusing since they might contain different meanings. Complaining about the term cryptocurrency is not the problem, the problem is how you use it in the first place.

[reliable]

Pretty sure you're a decade late if you were hoping to change the terminology

Well now its not at all possible to change the name or do anything about it. Neither I think it was possible at the start because it was Satoshi who has created it and kept the name what he liked it or what he had understood.

OP - You can always have your view which is nice, but now all those who are in this field are associated with the terms that were derived.

[Oceat]

From the word 'crypto or cryptography' is the art of writing or solving codes. Which is somehow correct because miners does solve some mathematical puzzle. And the word 'currency' well basically it is a money, notes, or coins that has a value. So a cryptocurrency or digital currency is being made because of it's characteristics. But if you are having a problem with this and making a big deal then you can tell everyone what to name on it but i don't think if they will listen, since it is what they already know what to call on it.

[J. Cooper]

You certainly have a valid point there however I also think it does the job. Atleast to get people interested it does the job. Cryptocurrency consists of 2 words that are essential to captivate someone. One well know word and one lightly less. Practically everyone that has the potential to get involved in this ecosystem knows what the word currency is. Some people will probably also have a slight idea as to what cryptography is but I feel like for most people this will tickle their interest and they will do some research. And ultimately fall down the rabbit hole. We all know how it went from there.

For that extremely specific reason I feel like cryptocurrency is the right word. It might not perfectly describe what they actually are but does it need to bethat way? As long as they get interested and do research I'm cool with it. But if you would come up with an alternative I would gladly evaluate it.

[stryker]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

Yes, I agree with you. Recently, the term "crypto-currency" is applied to tokens, which are created on the basis of other crypto-currencies and are used more as an asset, rather than as a means of payment.

[shensu]

I think it's a good term but it can be a scary term for non technical outsiders.

[hopeAo]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

To me cryptocurrency is the best word to describe digital money.The word cryptocurrency describe the source of the currency and its medium of exchange.

[ir.hn]

It certainly is a currency, there are only 4 types of property, commodity, collectible, cash generating asset, and currency.  Currencies are fungible and infinitly divisible.

But crypto is a bad term.  I perfer to call them Distributed Digital Currencies (DDC's) as I said in my recent new PoW whitepaper.

[NRJ]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about.

I think the word "cryptocurrency" is a good term. Not only in english language is used such combination of the words "crypto" and "currency".

[Colorblind]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

My thoughts is that cryptocurrency is bad and misleading title for general public. However during last years it was popularized enough to become permanent description in minds of people. Why do I think it is misleading? Because most people don't understand how cryptography is utilized in blockchains. Everyone I know think that "crypto" literally means anonymous,opaque,hidden money that impossible to trace or steal. When I explain that BTC is the most transparent money that was ever made, and cryptography is used mostly to create digital signatures and mathematical proofs people freak out (especially when I get to the point where I explain anyone can see balances of all wallets any time or trace all transactions that was ever made in bitcoin). To that little nasty "crypto" word brings a lot of unnecessary confusion for newcomers. I'd rather prefer digital money token, but it somewhat strips it from value.

[hatshepsut93]

It certainly is a currency, there are only 4 types of property, commodity, collectible, cash generating asset, and currency.  Currencies are fungible and infinitly divisible.

But crypto is a bad term.  I perfer to call them Distributed Digital Currencies (DDC's) as I said in my recent new PoW whitepaper.

Rethinking my first post, I'd say that crypto part is not that bad, because it sounds synonymous to "secure" and very different from electronic or digital currencies. But the currency part can be very misleading, because in my mind projects like Bitcoin can achieve much more than just being a medium for storing and transferring value - I'm sure that for next many years developers will be discovering lots of different way of interaction with Bitcoin's blockchain.

[chewingtall]

The term "cryptocurrency" has been widely used by people on the internet even before bitcoin became famous. It's just a simple internet slang, that's it.

[hatshepsut93]

Interesting dissection :-)
Do you have any proposal in mind?

I'd say the best word to describe them is "public blockchains", because it leaves a lot of space for covering all the potential decentralized projects that utilize Bitcoin and some other coins, and it also takes back the word "blockchain" from bankers and governments who try to create a narrative that blockchain is some revolutionary technology that will improve those banks and governments.

The term "cryptocurrency" has been widely used by people on the internet even before bitcoin became famous. It's just a simple internet slang, that's it.

I've heard other people saying that, but couldn't find the etymology of the word "cryptocurrency" myself, could you please provide some link if you have one? I'm very interested to learn about it!

[webtricks]

It isn't necessary that every term has literal meaning, especially in technical world. When term has been largely accepted by people then it isn't required that it should fully represent the real meaning of the thing.
So far cryptocurrencies world is already widespread and over 50M people invested in it in last 9 years whereas several hundred millions aware of it. What we are discussing should had some relevance in initial years of Bitcoin and cryptocurrencies but now it is far too late. The term "Cryptocurrency" is even listed in Oxford Dictionary 2017 version.

I think it's a good term but it can be a scary term for non technical outsiders.

My tooth is blue but I am not Bluetooth. Please don't scare from me.  

[mmhaimhai]

Same idea I have I think cryptocurrency from the term used should be like our fiat that are used as mode of payment in virtual world but due to the price volatility people had seen the opportunity and now it's more than an investment other than currency.

[Colorblind]

Hello
My mother-in-law never heard of Bitcoin let alone "cryptocurrency" .
in many countries, "mobile money" was easy to understand when mobile operators created the service. Internet has now allowed the creation of "digital money" ... My guess , "digital money" will be better understood by the mass.

Crypto lacks fundamental properties of money. So I'd avoid word money at all.

[dietmarfritz59]

I don't think you will be able to change it, it has now entered into the language of the internet. It's like "blockchain", blockchain is now a specific subset of the original concept of chained blocks, and it contains many extra features.

I agree! These terms have been around for a long time and this is how everyone knows it now. It is slowly getting more popular, and the more popular it gets that harder it will be to ever change these terms.

[Colorblind]

I don't think you will be able to change it, it has now entered into the language of the internet. It's like "blockchain", blockchain is now a specific subset of the original concept of chained blocks, and it contains many extra features.

I agree! These terms have been around for a long time and this is how everyone knows it now. It is slowly getting more popular, and the more popular it gets that harder it will be to ever change these terms.

Btw some are still trying - for example Russian Ministry of communications asked to call it "digital tokens" instead of cryptocurrency in all official statements/papers.

[biboy]

The Cryptocurrency world is huge and keeps growing and growing every single day, one way to understand it, is to learn the basic words and topics it talks about on the internet, some terms are difficult to understand but others are product of knowledge of people who work within this market niche, in this article we are going to learn some basic glossary  about the cryptocurrency digital world.

In addition to that, I can't see any reason or any alternative term for cryptocurrency I think it is fit enough for that. At first, I am having a hard time in thinking what crypto means until such time when my friend told me to invest in crypto and was confused about this so I invest time even for about 2-3 hours a day.

[fusepay]

Cryptocurrency, or just crypto, is a world know word now, like 'OK'; it describes the digital token and coinspace very well, and as was described ealier in thread, has become the standard world when describing the technical movements of all.

[shacc]

A cryptocurrency the digital currency this term The term is yet digg it in the alphabet crypotoworld and behind the matters of names, the most important is its considerable role which totally different to traditional name of money and  cut up with the international banking system, which seems like an antidemocratic relic responsible for multiple major financial catastrophes over the past few years.

[GbrilliantQ]

In my opinion it's too late to ask, it's already taken a foothold and is commonplace now.  Even my Mom asked me if I had heard of cryptocurrency.  She had forgot that I've been in the game since 2014 and have been mining since 2016.....  It's a common #hashtag on Twitter and on other social media sites.  It's here to stay I believe.

[andrey64rus]

He нaдo пытaтьcя чтo тo измeнить, ecли этo плoтнo вoшлo в oбиxoд, люди пpивыкли к тepминy "кpиптoвaлютa", тaк мoжeт и нe нaдo ничeгo мeнять.

[signalbitbot]

easy to remember, I think that it is very convenient and thematic

[SGMPhil]

e-currency would probably be a bit more appropriate but cryptocurrency sounds cooler

[micky mou]

if you want your generation your nation updated
so you have to accept that fact
cryptocurrency is the most liking term in nowadays

[akemi1487]

yes, this is the main fact! The term is what it is, and it is part of the history of Bitcoin, and maybee the history of world economy forever

[Ucy]

Decentralized-Currency more appropriate?

Decentracurrency
Decentracoin
Decurrency
Detracurrency

[chimcoin]

I think there is a time when a new word is formed and becomes generally accepted and in used daily, This is also applicable to the word "cryptcurrency ". Now , consider word formation for example, word formation is the creation of a new word. Word formation is sometimes contrasted with semantic change, which is a change in a single word's meaning. A new use of an old word can be seen as a new word derived from an old one and identical to it in form.
In a nutshell, cryptcurrency as it is use today, is a word that has become generally accepted to it meaning and  we can't change it.

[jmiro1]

I agree that the "Crypto" word is not fully suitable with it but you are wrong about the word "Currency". Currency is not a "Narrow" economical term, currency is a revolution to the economy. And the purpose of these decentralized money is currency, yes they are currency. These are currency at the end no matter how you put it. It's online unit, it's blah blah blah,, but it's currency. Currency is strong strong strong part of the economy. You should realize it.

[arrmia11]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

I dont care what is the term did the founder used in describing this kind of development. For as long as it doesn't violate the rules I'm okay with it. And the people are already used to it. They already accepted the word cryptocurrency fully and there is nothing wrong with that. More and more people are engaging cryptocurrency and if you are going to change that people might confuse or misinterpret it.

[warning_btc]

Yes i am agree with mean what cryptocurrency is scary word, Crypto - imself first time will be confus, but i dont have better term in my mind

[Intellectual Romanticist]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

Do we always have to name something based on its properties?

Bitcoin was intended to be a storage of value that can replace Fiat money - hence it is called a currency.
Bitcoin is based on cryptography so it called a crypto-currency.


Let me give you an example.
Bicycle. Cycle - means round. Bi - means two or dual.
Bicycles were fast, at least, when they were first invented, they were the fastest mode of transport for man.
They were made of wood and/or metal.

So what do we call them? Do we call them fastmetalcycle? Do we call them bifastwood or biquickwoodcycle?

When naming things, people do NOT have to consider all qualities and functions of that thing.

[reliable]

I think the term is very hard for new comers to understand, and the term blockchain would be even harder.

But the word sticks in your mind, "Cryptooo" so I think it's a good term to be used.

I think cypto is generally used as a short term for the cypto currency and also it is the initial name which has being given and the appropriate for as already being kept. Their is no point now to even think if we want to change or no as nothing is going to happen now. Just thing this is the best name initiated for the relevant terms being used.

[onnz423]

What would you rather call it then? Digital gold? Virtual palladium? The moniker given to cryptos will not affect their success, and few people think of the literal meaning of a word before using it. We live in a world where people say hunded instead of hundred, and you think people are going to criticise BTC because of its name?

[Crypto Girl]

The term cryptocurrency derived from the word cryptography, the mathematical method of creating a cryptocurrency and i think it's the most accurate term to be use, but yes there are some term that can be put to call them like  altcoins, virtual currency etc... but it's difficult to change the term since it is already used to address these currencies in general.

[ohzeih5n]

I was thinking the same as you. I think that most of the people that don't believe in these currencies are afraid of the term "crypto"
I think that if we remove it that could be better. Because we will be compared to euro usd yen and other currencies but the problem of those coins that they are volatile..

[elisforciel]

It does sounds like kryptonite, which is kinda negative. But if people have the time to research more about it, it has its pros and cons. For instance, cryptocurrency is the digital medium for secured funds transaction. It has an ensuring feeling that there people who designed and willing to modulate this kind of stuff. So for the cons, there are trust worthy people that could handle it even if we don't see them, also the person must be aware of the risks. Rather wandering if it is righteous or not? The term is there and means what it needs to be, it's up to people if it sounds kryptonite or not. If they researched about it, maybe they would be invested to the wonders of cryptography and so on.

[mtemur]

кpиптoвaлютa coзвyчeй cлoв в пoлнe нopмaльнoe, тaк пo мнe мoжeт yжe кaк тo yлoжилocь в гoлoвe этo coзвyчиe))

[shinjunobi09]

I think the word crypto is kinda may sense as part of the development and technological part of our generations today because crypto kind fits in with currency and it's kinda in rhythm with the encryption part of the computer world today because in cryptocurrency we may not be safe from scammers and fraudsters but at least we are encrypted from the intervention of government and third parties.

[mharz]

I think the word crypto is kinda may sense as part of the development and technological part of our generations today because crypto kind fits in with currency and it's kinda in rhythm with the encryption part of the computer world today because in cryptocurrency we may not be safe from scammers and fraudsters but at least we are encrypted from the intervention of government and third parties.

Yes it is, crypto currency is a good terms, especially to mellenials, because people like mellenials are believe that all will gonna be easy. Thru technology everything gonna be happen.

Most of the people wants all transactions easier but effective, they want that in a blink of an eye all transactions will gonna be come true.

[cerealnac]

It's now part of the lexicon, so it would take an effort to change it. I don't find it to be a terrible name as the term is synonymous with security and anonymity which are the features that are attempting to be solved with a lot of the coins on the market.

[nickmax]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

I agree that the cryptocurrency is not the best term, and it frightens some people. But everyone is used to it and it will be difficult to find a replacement for him.

[AdTraxis]

The term 'cryptocurrency' is good enough due to it's uniqueness. There are lots of Google searches on the word as many people are eager to find out what this weird word means.

[MCVXYZ]

The term 'cryptocurrency' is good enough due to it's uniqueness. There are lots of Google searches on the word as many people are eager to find out what this weird word means.

Its not good term for ethereum,because its blockchain based platform which has an ability to create your own application,by ETH we can tokenization of real economy.its smart contract platform and not currency,despite the fact that we have wallets as for contracts as our own, the main idea is not that it will be currency,it serves to create something cool and not to send money.smart contracts have program languages for example LLL,Serpent,solidity which of currency has it? So,for me its not currency its opportunity to create blockchain based applications and not only this.

[Pei]

Cryptocurrency is the correct term to be used for the digital currency as it is used as an online currency which can transacted from any part of the world without a third party involvement, cryptocurrency run through the cryptography network which makes the digital currency to reach the destination at the right time.

[Bonakid]

Cryptocurrency is an online currency that we can use to pay our bills and other online bills that we can pay using btc.But some people afraid to invest in crypto due to lack of knowledge about it ,they are afraid of loosing money when they engage on it.

[efly01]

I don't think you will be able to change it, it has now entered into the language of the internet. It's like "blockchain", blockchain is now a specific subset of the original concept of chained blocks, and it contains many extra features.

[FoBoT]

For that fact that the two words combination forming Cryptocurrency are pretty good and are generally accepted globally in their various function, I gave it my vote as good term as well. Crypto which mean hidden facts and currency which is any real or feasible item globally or unilaterally accepted as a medium for goods and services exchange in their community of operates are adoring words. The legitimacy about Bitcoin trading on line had far gone to the extent that changing cryptocurrency for another term might tantamount to discretely affecting its functionality.

[tricker01]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

Well for me , I dont think the term "cryptocurrency"  needed to be change anymore. It has been known by many investors as that, and they already adopted that kind of terminology so I dont see any point in changing it base on its origin meaning. Cryptocurrency are already known as the world wide online currency, means ita the present why not just supoort it. So that it could bring us economy to improve.

[swisstortue]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

Well for me , I dont think the term "cryptocurrency"  needed to be change anymore. It has been known by many investors as that, and they already adopted that kind of terminology so I dont see any point in changing it base on its origin meaning. Cryptocurrency are already known as the world wide online currency, means ita the present why not just supoort it. So that it could bring us economy to improve.

totally agree with you we should continue to share the same message to make our community greater

[Jackypot]

I think they used that term for new people in the subject to know what they're talking about, like Crypto that is Cryptography that represents encrypted or coded and currency that is money, what comes to mind is an encrypted currency or a coded currency in network

[skyflakes88]

It would be pretty hard to change the term now it might sounds jargonic but the knowledge has been spread and its like killing another faith because it seems odd to your perspective. Their is more to learn in the digital world it only shows that not all are prepared to enter this world they only want something for their own and not for the industry.

[darkangel11]

I don't see anything wrong with the term, especially that you're not offering a substitute.  The term is already established, like others have mentioned, and it's performing well as it's easy to pronounce and unique.

The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

The opponents will always find something to criticize. You make another term and they will start by saying that you are running from the term currency because you know it's not one and can't be used in this form (which of course is not true).

[Shiidoshen1997]

 "Crypto" word does not describe the main properties, decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. Crypto that is Cryptography that represents encrypted or coded and currency that is money, what comes to mind is an encrypted currency

[EtherSpin]

Cryptocurrency or digital currency. But it seems like cryptocurrency will stick as a term!

[DispatchLabs]

Right now it is too late to call it anything but crypto currency, but as language continues to evolve the definition of the word cryptocurrency will continue to evolve with it.  Just like the word "literally" has now taken on the meaning of figuratively to fit with the use of the word, cryptocurrency will continue to evolve to fit the meaning that people have given it.  The word may not seem 100% accurate now, but it will become what the world wants it to be.

[bilal_jan321]

Recently I've started thinking that the word "cryptocurrency" does a pretty poor job at describing what it's all about. The "crypto" part does not describe the main properties - decentralization and openness, cryptography is simply a tool for achieving them, and doesn't necessarily bring those properties. "Currency" is a pretty narrow economic term, which refers to money in active circulation, but in our case we have digital units that can have many use cases and most notably they allow building applications on top of them. The "currency" part is also used by opponents to claim that they are in fact inherently worthless by pointing out their high volatility and lack of scalability - two factors that indeed make them almost unusable for daily transactions for average user at the moment.

Thoughts?

every innovation in the start was not accepted, same holds true for cryptocurrency as well. In start, no body took it seriously so whoever named it cryptocurrency, was accepted. but it serves the purpose and is valid as well.

[jademacoy]

Yes that is the right word to describe the digital currency and it is not a decentralized word to describe the digital currency. The word crypto means to encrypt data for bitcoin. That is the challenge for mining bitcoin. These crypto word are the data were being made in a unique manner so that it will not compromise its value which makes the bitcoin to be more secured. You need to decrypt all of these data before you get the bitcoin. And these process could take several days, weeks or months to decrypt the data. So which means crypto is a word which could not be compromise the bitcoin value so does the decryption of the bitcoin data.

[temdevs]

You are at some point right but now even if it isn't very explicit people are aware of what it defines. At this time the term "cryptocurrrency" is understood as the digital currency and all the free and decentralized aspect are somehow linked to the word.

[Shwester]

yes, I think so

[atomicgroup]

I do not see any wrong in the term ''CRPTOCURRENCY" .It is the term being used from inception of Bitcoin that denotes all what the Digital money on line entails. It proves that the currency in question is a kind of ecrypted money which is anonymously /secured from being scammed or cheated unless with carelessness . It also shows that another type of special currency exist somewhere which can also be used for goods and services but with modification.

[European Central Bank]

at least it beats virtual currency which is a term i find seriously annoying.

there's lots of terminology that isn't actually a very good fit when you think about its literal meaning. having said that cryptography is one of the key foundations of what makes bitcoin possible so it's not a totally frivolous name.

like so many other things it's too late now to change it and at least satoshi himself came up with the term. that's good enough for me.

[atrocityx]

I don't like the word Cyptocurrency at all, and I agree with you, it doesn't really describe the coins/market/use cases very well... not even bitcoin imo.  Bitcoin's two major use cases to me are store of value and a liaison between USD and other coins as a go through... Currency implies that it is indeed a currency and works as a digital money where as in my opinion atleast in the common use of this term it does not.... 1) its too volatile to bused as a currency 2) its too slow for everyday purchases as a currency and 3) too high of fees (atleast with bitcoin) to be used as an everyday currency.. atleast until lightning network is out. The problem for me comes in the question of "What is a better term?"  Is Cryptocommodity any better? is Blockchain Coins any better? The thing cryptocurrency has going for it is the name atleast flows correctly and doesn't sound like two words forced together like some of the other things that would describe it better... What about Digital Assets?  Kind of really broad but atleast sounds decent... oh well I guess at the end of the day it is what it is, but I wish I could go back in time and ask the people at meeting deciding general names that they spend a bit longer and really think about what the name implies and how it can be abused by the media and skeptics.

[rustbeltminer]

I was listening to a podcast, (I think it was Crypto Bobby and his interview with the Clay Collins) and they were discussing different terms for CryptoCurrency. They discussed using the term "Digital Assets", I think that is a better broad term description.

[Airdrop Manager]

I prefer "digital currency", we use them above all for their virtual character that for their encrypted character, that's my opinion.

[SELENA703]

Cryptic means some hidden matters. Miners does some mathematical problems which is really cryptic and currency means money . So cryptocurrency is a proper term.

[Anna3]

I agree with you, the word cyptocurrency is not the best word to describe this complex system. But I think we can't do much about it, since every person knows cryptocurrency as a cryptocurrency. 

[offic]

Crypto - from the Greek kryptos secret, hidden.
That is, the crypto currency is the encrypted code, which can be recognized by various calculations on a super-powerful computer. For the right answer, a person who is trying to guess, receives a monetary reward.
Basically, everyone is used to using this term and discussing the name change at least meaninglessly

[johniadeluca]

Yeah definitely. I think not all cryptos nowadays focus a lot on "Crytography", however it sort of serves as a general term for a computer/technology based currency which is cool

[izzy13]

Yea, i thought the same thing too. First times I learn about CC, I argued about the term. "Why not, like, virtual currency? Or altercurrency?"