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Author Topic: Is crypto-currencies is a right term to refer bitcoin and altcoins together ?  (Read 215 times)
yulchatar
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February 10, 2019, 09:42:24 AM
 #21

Well, firstly, everyone has long been accustomed to the term cryptocurrency. Secondly, we can't call them digital money, as this term means not only cryptocurrency but also other means of payment (WebMoney, for example). And also, by the word "cryptography" is meant confidentiality, transparency and authentication - all those properties that are exactly inherent in bitcoin and altcoins.
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February 10, 2019, 09:48:22 AM
 #22

Well, firstly, everyone has long been accustomed to the term cryptocurrency. Secondly, we can't call them digital money, as this term means not only cryptocurrency but also other means of payment (WebMoney, for example). And also, by the word "cryptography" is meant confidentiality, transparency and authentication - all those properties that are exactly inherent in bitcoin and altcoins.

When we say crypto currencies, it means that we are talking about the digital currencies which include both bitcoins and all the altcoins / tokens etc. This does not include the digital money like Webmoney / skrill etc.
Moshaid
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February 10, 2019, 11:21:33 AM
 #23

Over the years, numerous blockchain giants have taken over the world with their various blockchain operations successfully. Because something works however, does not mean that it cannot be improved.

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plvbob0070
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February 10, 2019, 02:37:36 PM
 #24

As far as I am concerned cryptography is being used by human race for 1000s of years and it may got improved into more complex levels with modern computing era.

Cryptography provides security to bitcoins hence it is just layer of security thing and it is not the actual part of what we are considering as bitcoins, right ? If it is so, is it right way to have a term crypto-currencies ?

I agree it is a term to represent bitcoins and other coins as no other money system is being secured this way. Yes, cryptocurrencies is just a term to distinguish bitcoins and altcoins from paypal or skrill.

Then what could be a right way to represent bitcoins and its clones in general ?

Might be BLOCKCHAIN-MONEY or BLOCKCHAIN-CURRENCIES having exact representation of bitcoins and altcoins by conceptual way. Probably it may be a hard term for non-technical people (even crypto too). Smart-money or digital-cash are easy terms for anyone but not exactly representing bitcoin-family. If you have any suggestion, please do mention, we must have easy term for making it to main stream adoption yet it must have meaningful representation.
Cryptocurrency is a digital asset that uses cryptography. Basically, for securities... And i don't mind if they're using cryptocurrency as a representation for bitcoin and altcoins. And I think it's also a meaningful one
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February 10, 2019, 02:47:25 PM
 #25

people often refer to cryptocurrency instead of other names, because it is on the blockchain platform, while for digital money people also mention BTC and altcoin, but for digital money not only that, like web money, electronic wallets, egold and cryptocurency, basically everything is cryptography


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BitcoinPanther
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February 10, 2019, 02:54:20 PM
 #26

Decentralized currency is better name if you ask me. Blockchain could transform into something more decentralized in the future, with different names.
The name decentralized currency may even help discourage developers from creating centralized coins and also help discourage major coin developers from temptatation of centralization.

This sounds good but I believe having a decentralized name imprinted on the currency will never discourage developer to centralized their intended cryptocurrency creation, though they will not fall under the decentralized currency category but nevertheless people will create their own token following their belief and ideas.  And besides, cryptocurrency had already established its name as a currency that uses cryptography either it is centralized or decentralized.
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February 10, 2019, 02:55:04 PM
 #27

Cryptocurrency seems to be the perfect term to represent bitcoin and altcoins. Earlier it was virtual currencies and little by little things got changed. Now it's much more perfect than mentioning as virtual currency. Bitcoin. As in the Op everything is associated with blockchain. Upon that it is good to mention it as blockchain money, but being on cryptographic algorithm processing each and every activity happening through the blockchain makes cryptocurrency more apt than being called as blockchain currency.

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February 12, 2019, 01:19:44 PM
 #28

I am actually more disturbed by the "currency" part.
First to mention, tokens which are or to be made as securities - Distributed Ledger Technologies (DLT) - are not currencies. Stock or bond is not a currency. And many tokens or coins nowadays are securities actually. And there will be even more.
Secondly, utility coins are not currencies. Well, they are but just for internal use - to buy service on specific platform or similar. Thus, they are more like vouchers or coupons than currencies.

Currencies are only crypto coins or tokens that are or want to be a mean of payment. Bitcoin, Bitcoin Cash most representative (probably) Dash. Ethereum is not a currency, imho. Ether was never created for you to pay coffee or a car with.

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February 12, 2019, 02:47:36 PM
 #29

Bitcoin is managed by the digital currency system, without the block, Bitcoin can not be imagined, and through Bitcoin, it must be turned into a destabilizing family member.Cryptocarcation is the best word to represent Bitcoin and altCoins.People understand bitcoin and altcoins mainly because of cryptocarrency because there is a blockchain system.Although cryptocarcation is not what it originally meant
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