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Cryptocurrency Meaning In English

Benjamin Franklin, Revolution & The Real Meaning Of Cryptocurrency

Benjamin Franklin, Revolution & The Real Meaning Of Cryptocurrency

Benjamin Franklin, Revolution & the Real Meaning of Cryptocurrency Benjamin Franklin, Revolution & the Real Meaning of Cryptocurrency Kai has an excellent article critical of block chain. Ten years in, nobody has come up with a use for blockchain . It is quite the opposite of its Miseaan/Austrian scarcity theory basis. Young people (mostly) are creating money so they can use it. They are creating money to relieve scarcity. Back in 1726, Benjamin Franklin went into business as a printer of paper money. He wrote an essay in 1729 praising it. The colonies were hamstrung by lack of currency and money. So, cities, and states issued debt notes. Like English tally sticks, or in the modern world, a check, endorsed over to someone else, these paper debt notes were used as money in the colonies, mostly with great success. This actually fits precisely with modern understanding of money in the modern world all money is debt. All money originates by the creation of a loan, with the deposit of the loaned amount covering the loan amount. So, there is an accounting identity between debt and credit balances in the world economy. Among other things, this means that when the deficit is paid down, money someone is using to live and buy things is destroyedIts a little known fact that England has not retired debt from its war with the rebel colonies for precisely this reason. British bankers figured it out long ago, and it was key to Britains success as an empire that their money supply expanded. In 1764, Britains Currency Act banned such money. Ben Franklin later told the British that this was the real reason for the American Revolution. Look at Bitcoin and ICOs. The younger generation is chafing at its inability to get funding for what it wants to do. This isnt just true in the USA: its t Continue reading >>

Cryptocurrency Definition | Investopedia

Cryptocurrency Definition | Investopedia

The anonymous nature of cryptocurrency transactions makes them well-suited for a host of nefarious activities, such as money laundering and tax evasion . The first cryptocurrency to capture the public imagination was Bitcoin , which was launched in 2009 by an individual or group known under the pseudonym Satoshi Nakamoto. As of September 2015, there were over 14.6 million bitcoins in circulation with a total market value of $3.4 billion. Bitcoin's success has spawned a number of competing cryptocurrencies, such as Litecoin , Namecoin and PPCoin. Cryptocurrencies make it easier to transfer funds between two parties in a transaction; these transfers are facilitated through the use of public and private keys for security purposes. These fund transfers are done with minimal processing fees, allowing users to avoid the steep fees charged by most banks and financial institutions for wire transfers . Central to the genius of Bitcoin is the block chain it uses to store an online ledger of all the transactions that have ever been conducted using bitcoins, providing a data structure for this ledger that is exposed to a limited threat from hackers and can be copied across all computers running Bitcoin software. Many experts see this block chain as having important uses in technologies, such as online voting and crowdfunding, and major financial institutions such as JP Morgan Chase see potential in cryptocurrencies to lower transaction costs by making payment processing more efficient. However, because cryptocurrencies are virtual and do not have a central repository, a digital cryptocurrency balance can be wiped out by a computer crash if a backup copy of the holdings does not exist. Since prices are based on supply and demand, the rate at which a cryptocurrency can be exchanged Continue reading >>

How Does Bitcoin Work?

How Does Bitcoin Work?

This is a question that often causes confusion. Here's a quick explanation! As a new user, you can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should only be used once. The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. This way, Bitcoin wallets can calculate their spendable balance and new transactions can be verified to be spending bitcoins that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography . A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast between users and usually begin to be confirmed by the network in the following 10 minutes, through a process called mining . Mining is a distributed consensus system that is used to confirm waiting transactions by including them in the block chain. It enforces a chronological order in the block chain, protects the neutrality of the network, and allows different computers to agree on the state of the system. To be confirmed, transactions Continue reading >>

But What Do All These Words Mean? Cryptocurrency Glossary For The Layman

But What Do All These Words Mean? Cryptocurrency Glossary For The Layman

But What Do All These Words Mean? Cryptocurrency Glossary for the Layman But What Do All These Words Mean? Cryptocurrency Glossary for the Layman A short dictionary of cryptocurrency jargon, explained in normal human English. Does cryptocurrency confuse you? Dont be ashamed it confuses me too. Which is why I have prepared an easy guide to a few key phrases, cutting through the technical jargon to make things more understandable to the less-technologically minded. Just like yourself, a bitcoin needs a roof over its head. Bitcoin addresses are denoted by a string of alphanumeric characters, and just like your home, you need a key to get in. There are 2160possible addresses, so a housing crisis is not expected in the near future. However, because blockchain technology is decentralised and anonymous, the loss of a key in the digital world is a much more final matter than it is in the physical. Research by Chainalysis estimates that between 2.78 3.79 million bitcoins have been lost forever. And lets not mention the poor man who threw away a hard-drive containing 7,500 bitcoins in 2013, back when they were nearly worthless. Theyre not now . Acronym; all time high. How many times have we reported on Bitcoin reaching a new record high ? So many that this is one of the few situations in which an acronym is truly a time-saving necessity. Cryptocurrencies are characterised by their volatility, daily rises and drops in the tens of percent. And as they increase in popularity amongst the public and established financial institutions, all time highs are regular occurrences. The backbone of the whole crypto business. A blockchain is a public database, open to everyone to read and to alter. It differs from other kinds of networks because it is decentralised: all alterations are broadca Continue reading >>

"cryptocurrency," "blockchain" And "ico" Make Their Merriam-webster Dictionary Debut

Merriam-Webster (@MerriamWebster) March 5, 2018 Interestingly for cryptocurrency enthusiasts, out of all 850 new words and phrases such as "dumpster fire," glamping, welp, and "life hack," the Bitcoin logo took center stage on both Merriam-Websters main tweet and its website announcement about the new dictionary entries. The website also features this statement just above the words "'Cryptocurrency' is now in the dictionary" and the Bitcoin logo: The language doesn't take a vacation, and neither does the dictionary. The words we use are constantly changing in big ways and small, and we're here to record those changes. Each word has taken its own path in its own time to become part of our language to be used frequently enough by some in order to be placed in a reference for all. If you're likely to encounter a word in the wild, whether in the news, a restaurant menu, a tech update or a Twitter meme, that word belongs in the dictionary. Emily Brewster, associate editor at Merriam-Webster, stated, In order for a word to be added to the dictionary it must have widespread, sustained and meaningful use. These new words have been added to the dictionary because they have become established members of the English language and are terms people are likely to encounter. The addition to the Merriam-Webster dictionary of the words cryptocurrency, blockchain and ICO seem to fit those criteria well. cryptocurrency noun cryptocurrency \ krip-t-kr-n(t)-s , -k-rn(t)-s \ : any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions. First Known Use: 1990 b Continue reading >>

Cryptocurrencies Explained, In Plain English

Cryptocurrencies Explained, In Plain English

Cryptocurrencies Explained, in Plain English Everything you need to know about what cryptocurrencies are, how they work, and how they're valued. By now you've probably heard about the cryptocurrency craze. Either a family member, friend, neighbor, doctor, Uber driver, sales associate, server, barista, or passer-by on the street, has probably told you how he or she is getting rich quick with virtual currencies like bitcoin, Ethereum, Ripple, or one of the lesser-known 1,300-plus investable cryptocurrencies. But how much do you really know about them? Considering just how many questions I've received out of the blue from the aforementioned group of people over the last month, the answer is probably, "not a lot." Today, we'll change that. We're going to walk through the basics of cryptocurrencies, step by step, and explain things in plain English. No crazy technical jargon here. Just sticks and stones examples of how today's cryptocurrencies work, what they're ultimately trying to accomplish, and how they're being valued. Simply put, cryptocurrencies are electronic peer-to-peer currencies. They don't physically exist. You can't pick up a bitcoin and hold it in your hand, or pull one out of your wallet. But just because you can't physically hold a bitcoin, it doesn't mean they aren't worth anything, as you've probably noticed by the rapidly rising prices of virtual currencies over the past couples of months. The number is always changing, but according to CoinMarketCap.com as of Dec. 30, there were around 1,375 different virtual coins that investors could potentially buy. It's worth noting that the barrier to entry is particularly low among cryptocurrencies. In other words, this means that if you have time, money, and a team of people that understands how to write computer Continue reading >>

Bitcoin Segwit2x: A Plain English Guide | Fortune

Bitcoin Segwit2x: A Plain English Guide | Fortune

(Important update: The leaders of the SegWit2X faction announced on Wednesday, November 8 they would suspend their plan to split bitcoin in mid-November.) Bitcoin has faced turmoil in the past but nothing like this. In two weeks, a massive fight taking place among bitcoin insiders could produce a ruinous schismundermining the integrity of digital currency and threatening its sky-high value. The fight is over a so-called fork in bitcoins software, known as SegWit2x, that will create two competing versions of the currency and lead to disagreement over the real bitcoin. Theres even a battle over who gets to use the popular BTC ticker symbol. The fork will also mean a payout to existing bitcoin holders, though any windfall could be overshadowed by larger turmoil. To understand whats at stake, heres a plain English Q&A to explain the controversy. There is a disagreement between key stakeholders over how to update the core software that runs bitcoin. You can learn more about the technical details below, but the crux of the fight is over whether to double the size of bitcoin blocks. The blocks, which are added every 10 minutes, serve as a record of all bitcoin transactions to create a permanent blockchain ledger. The current controversy means there is likely to be two bitcoin blockchainsone that uses smaller 1MB blocks and one that uses bigger 2MB blocksand temporary uncertainty over which is the real bitcoin. While bitcoin has experienced these sort of forks in the past (most notably with the creation this summer of rival currency Bitcoin Cash ,) the market has never regarded such splits as a replacement for the original bitcoin. This time could be different. It is supposed to take place soon. This website offers a more precise moment specifically Nov. 16 at 5:42 ambased on Continue reading >>

Blockchain, Cryptocurrency, And Ico Make Their Way Into Websters Dictionary

Blockchain, Cryptocurrency, And Ico Make Their Way Into Websters Dictionary

The crypto craze is spreading like wildfire, and it doesnt seem like its going stop anytime soon. The Merriam Webster dictionary , which is Americas most trusted online dictionary for the Queens language, has caught the crypto-fever. The highly reputable dictionary for English word definitions, pronunciation and meanings have added cryptocurrency, initial coin offerings and blockchain to its database of English words. For some, anything that doesnt have its word and meaning in the dictionary is non-existent. Blockchain technology , cryptocurrency , and initial coin offering (ICO) have officially entered into the dictionary. The English language is one of the most dynamic languages in the world, with new words added to the dictionary regularly. On March 5, 2018, Merriam Webster stated in a press release that it had updated its dictionary, adding 850 new words, phrases and new meanings for existing words; including cryptocurrency, blockchain and initial coin offering. The language doesnt take a vacation, and neither does the dictionary. The words we use are constantly changing in big ways and small, and were here to record those changes. Emily Brewster, an associate editor at Merriam Webster, said, In order for a word to be added to the dictionary, it must have a widespread, sustained and meaningful use. These new words have been added to the dictionary because they have become established members of the English language and are terms people are likely to encounter. The Merriam Webster dictionary defines cryptocurrency as any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent Continue reading >>

Still Don't Get Bitcoin? Here's An Explanation For Five-year-olds

Still Don't Get Bitcoin? Here's An Explanation For Five-year-olds

If you still cant figure out what the heck a bitcoin is, this simple explanation for a five-year-old may help you ... Were sitting on a park bench. Its a great day.I have one apple with me, I give it to you. You now have one apple and I have zero.That was simple, right? My apple was physically put into your hand.You know it happened. I was there, you were there you touched it. We didnt need athird personthere to help us make the transfer. We didnt need to pull in Uncle Tommy (whos a famous judge) to sit with us on the bench and confirm that the apple went from me to you. The apples yours! Icantgive you another apple because I dont have any left. I cant control it anymore. The apple left my possession completely. You have full control over that apple now. You can give it to your friend if you want, and then that friend can give it to his friend, and so on. So thats what an in-person exchange looks like. I guess its really the same, whether Im giving you a banana, a book, a quarter, or adollar bill Now, let's say I have onedigitalapple. Here, Ill give you mydigitalapple. Ah! Now it gets interesting. How do you knowthatdigital apple which used to be mine, is now yours, and only yours? Think about it for a second.Its more complicated, right? How do you know that I didnt send that apple to Uncle Tommy as an email attachment first? Or your friend Joe? Or my friend Lisa too? Maybe I made a couple of copies of that digital apple on my computer. Maybe I put it up on the internet and one million people downloaded it. As you see, this digital exchange is a bit of a problem.Sendingdigitalapples doesnt look like sendingphysicalapples. Some brainy computer scientists actually have a name for this problem: its called the double-spending problem . But dont worry about it. All you need Continue reading >>

Cryptocurrency | Definition Of Cryptocurrency In English By Oxford Dictionaries

Cryptocurrency | Definition Of Cryptocurrency In English By Oxford Dictionaries

A digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. decentralized cryptocurrencies such as bitcoin now provide an outlet for personal wealth that is beyond restriction and confiscation Even with recent fluctuations, the total value of the cryptocurrency is still over eight billion USD. Against all wisdom, I had invested $1,000 in bitcoin, the cryptocurrency whose value had been skyrocketing since the start of the year. As with all cryptocurrencies, price is based on supply and demand. States will undoubtedly resist the spread of cryptocurrencies. A cryptocurrency may be hackable, but it can also be really, really, really hard to hackharder than robbing a bank. If cryptocurrencies are like other speculative activities, the early players and the big players benefit to the detriment of the late entrants and the small players. Bitcoin was the first widely used cryptocurrency, but few people know it is not the only one. What does your cryptocurrency allow people to do that they could not do otherwise, and how does it help them do existing tasks more quickly or cheaply? Most successful cryptocurrencies have an active community where people devote time with no expectation of payment. A group of online entrepreneurs were planning to launch the new cryptocurrency on Thursday. The majority of cryptocurrency activity still appears to be speculative. Early 21st century: from crypto- + currency. Continue reading >>

What Is Cryptocurrency? - Definition From Whatis.com

What Is Cryptocurrency? - Definition From Whatis.com

virtual agent (intelligent virtual agent or virtual rep) A cryptocurrency is a digital medium of exchange that uses encryption to secure the processes involved in generating units and conducting transactions. Cryptocurrencies are a subset of digital currencies and, as such, have no physical representation. They may beused for online orin-person transactions with any vendors who accept them.In-person transactions using cryptocurrencies aretypically conductedthrough mobile payment from a digital wallet . There are hundreds of cryptocurrencies around the world. Among them, Bitcoin is the most prominent example -- in fact, other cryptocurrencies are sometimes referred to as altcoins, as in alternatives to Bitcoin. The Bitcoin protocol enables peer-to-peer ( P2P ) exchange in a decentralized system that, unlike conventional currencies,is not associated with any financial institution or government. Bitcoin-to-Bitcoin transactions are conducted through anonymous, heavily encrypted hash codes across a peer-to-peer network.Each users digital wallet maintains their Bitcoins. The wallet also stores all addresses the user sends and receives Bitcoins from, along with a private key known only to the user. The P2P network monitors and verifies Bitcoin transfers. Other cryptocurrencies include Litecoin, primecoin, Namecoin and Feathercoin. Paul Vigna provides a crash course on cryptocurrencies: Continue reading >>

Oxford Dictionaries Adds New Definitions For 'blockchain' And 'miner'

Oxford Dictionaries Adds New Definitions For 'blockchain' And 'miner'

Aug 27, 2015 at 20:25 UTC|UpdatedAug 28, 2015 at 17:00 UTC OxfordDictionaries.com, the online language resource owned by the Oxford University Press, has added new cryptocurrency-related definitions. The site outlined its latest additions in a new blog post , a list that also included "hangry", "butt-dial", "Redditor", "rage-quit" and "bants", among others. A "blockchain", according to the site , is a noun defined as: "A digital ledger in which transactions made in bitcoinor another cryptocurrency are recordedchronologically and publicly." The resource added new definitions for terms related to bitcoin mining as well, according to Katherine Connor Martin, head of US dictionaries for the Oxford University Press. The updated definitionfor the noun " miner " includes: "A person who obtains units of a cryptocurrency by running computer processes to solvespecific mathematical problems." The verb " mine " has a new section as well: "[To] obtain units of (a cryptocurrency) by running a computer process to solve specificmathematical problems." The inclusionscomeroughly two years after the site added "bitcoin" to its list of definitions. OxfordDictionaries.com is distinct from the Oxford English Dictionary. According to its publisher, whereas the site "focuses on the current language and practical usage", the Oxford English Dictionary is aimed at portraying "how words and meanings have changed over time". The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies . CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Continue reading >>

Coinmarketcap Faq

Coinmarketcap Faq

What is "Market Capitalization" and how is it calculated? Market Capitalization is one way to rank the relative size of a cryptocurrency. It's calculated by multiplying the Price by the Circulating Supply. How are the prices calculated for the various cryptocurrencies? Price is calculated by taking the volume weighted average of all prices reported at each market. Sources for the prices can be found on the markets section on each cryptocurrency page. For example, Bitcoin's markets. What is the difference between "Circulating Supply", "Total Supply", and "Max Supply"? Circulating Supply is the best approximation of the number of coins that are circulating in the market and in the general public's hands. Total Supply is the total amount of coins in existence right now (minus any coins that have been verifiably burned). Max Supply the best approximation of the maximum amount of coins that will ever exist in the lifetime of the cryptocurrency. Why is the Circulating Supply used in determining the market capitalization instead of Total Supply? We've found that Circulating Supply is a much better metric for determining the market capitalization. Coins that are locked, reserved, or not able to be sold on the public market are coins that can't affect the price and thus should not be allowed to affect the market capitalization as well. The method of using the Circulating Supply is analogous to the method of using public float for determining the market capitalization of companies in traditional investing. What is the difference between a "Coin" and a "Token" on the site? A Coin is a cryptocurrency that can operate independently. A Token is a cryptocurrency that depends on another cryptocurrency as a platform to operate. Check out the crypto tokens listings to view a list of tok Continue reading >>

Definition Of Cryptocurrency

Definition Of Cryptocurrency

What exactly is cryptocurrency, how did it get its name, and how is it coded? Take a look at Coin Pursuit's plain-English definition of the term. When you see the word root crypto in the English language, it comes from the Greek, meaning hidden or private. From it, we get words like encryption and decryption, which relate to the coding of a message, and its decoding once it's received. Even the English word cryptwhich uses the Greek root in its purest formrefers to a private hiding place, a sanctuary for the remains of a loved one. Cryptocurrency, then, means money that is made hidden and privateand therefore secureby means of encryption, or coding. All aspects of cryptocurrency are protected by long and complicated blocks of code, each of which is unique to the item or person it's protecting. As an investor, or someone taking part in a transaction, you're identified by a one-of-a-kind code, as is the person or company with whom you're doing business. Each coin of cryptocurrency itself has its own code, and smaller denominations have their own, as well, depending on what amount is needed for a transaction. Finally, the transaction itself is identified with its own code. Layer upon layer of encryption is one of the things that makes cryptocurrency unique, secure and anonymous, if you so choose. And all that coding and concealment is what gives cryptocurrency its apt name. As is true in any technical field, the industry of cryptocurrency not only has its unique jargon , but often terms that have synonyms that are used interchangeably. Therefore, we'd like to clear the air on that specific point right here: when you see the terms digital currency or alternative currency hereor in any other source, for that matterthose are just additional terms for cryptocurrency. As a mat Continue reading >>

Its Official Cryptocurrency Is The Word Says Oxford

Its Official Cryptocurrency Is The Word Says Oxford

Its official cryptocurrency is the word says Oxford Cryptocurrency is not only shaking up the finance system, it is changing the way society is thinking. The Oxford Dictionary Online, the worlds arbiter of what is and is not English has recently accepted cryptocurrency as a word. Cryptocurrency is not only shaking up the finance system, it is changing the way society is thinking. The Oxford Dictionary Online, the worlds arbiter of what is and is not English has recently accepted cryptocurrency as a word. The addition of cryptocurrency comes after last Augusts addition of Bitcoin to the internet publication, showing increasing acceptance of all things connected with the world of digital currency and demonstrating their enhanced importance for society in general. While the Oxford Dictionary Online is not the Oxford English Dictionary, it is a more immediate reflection of the changing nature of society, as reflected in language. The dictionary caused a sensation last year when it added selfie to its growing lists of recently adopted words from the internet community. While the addition of cryptocurrency has largely gone under the radar, it is possible this reflects a greater acceptance within the broader community of cryptocurrency both as a word and as a concept. If this is so, this is an additional reason for the cryptocurrency community to celebrate. Cryptocurrency evangelists will also be pleased to note that the examples of sentences using cryptocurrency provided by the dictionary are also largely positive, emphasising what the community sees as the advantages of cryptocurrencies. Decentralized cryptocurrencies such as Bitcoin now provide an outlet for personal wealth that is beyond restriction and confiscation, quotes the dictionary. Think you know what cryptocurren Continue reading >>

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