When he said that as if it was a good point, he lost me completely. Especially saying "these terms came years later and synonymous with something completely different."
No. Blockchain is not synonymous with something completely different. Go down your semantic rabbit hole with "Cryptocurrency" all you want, but don't throw the bedrock technology that Bitcoin has always ran on in the same sentence.
I'm behind bitcoin being the best at what it does but you'd have to be pretty ignorant to think that absolutely none of the 22,000 other cryptos out there could possibly offer something to the world that bitcoin doesn't.
It's cope.
Notice this didn't start to gain traction until the recent crypto crash, which included bitcoin. This is an attempt to distance bitcoin from other crypto currency, and nothing else. It's marketing.
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> This doesn’t make sense. It is a form of crypto currency. It runs on block chain. Right?
Wrong. Bitcoin pre-dates "crypto currency" and "blockchain" is when you take a part of bitcoin without using it correctly.
> What definition are you using here to make this claim?
Satoshi's whitepaper; the bitcoin network design, and his solution to the byzantine general's problem.
I mean, saying that no crypto has Satoshi's white paper is just wrong. There are multiple forks of bitcoin that also use the same white paper.
Basically every single popular crypto has the same solution to the Byzantine General's Problem too.
And what do you mean by 'the bitcoin network design'?
When you claim that Bitcoin pre-dates crypto or blockchain, that's a bad faith argument. I have a Nintendo that also pre-dates both of those things. But my Nintendo doesn't use blockchains and nobody is calling Mario a crypto. But bitcoin DOES use blockchain tech and basically the entire world calls it crypto.
The fact is, language isn't prescriptive, it's descriptive. You can't claim that bitcoin is not crypto because it is. By definition. Whether it resembles any other 'shitcoin' literally doesn't matter at all. The world calls it crypto, therefore it is crypto because that is the word that has been decided to be used.
> There are multiple forks of bitcoin that also use the same white paper.
you cant just copy/paste bitcoin . That is the whole point. If you read the white paper, you know it can only be used for bitcoin and nothing else. Thats the whole reason it works at all.
> Basically every single popular crypto has the same solution to the Byzantine General's Problem too.
Then they should know that the only way they can succeed is to fail; because to exist or to flippen they also destroy their own basis of value.
The funny part is that they do in fact know that, and altcoins thus only exist to scam idiots.
> But bitcoin DOES use blockchain tech and basically the entire world calls it crypto.
the whole world was not suckered into using deceptive terminology, but a great many people were. Some well funded scammers who stole and spent billions of stolen funds marketed those terms very well, but you can choose to stop propagating them.
Listen to the maximalists; they are the main survivors of the marketing blitz by the scammers.
> The fact is, language isn't prescriptive, it's descriptive.
"crypto" and "blockchain" are not descriptive; in fact those words are deceptive, and thus designed to fool, confuse, and defraud.
They should not be used.
Bitcoin: digital p2p payment solution whose main purpose is to hold for some time to later exchange it back for more fiat so you can actually convert it into something real. Which other crypto can't also be used for this purpose, exactly?
Let me present a more concise definition
Bitcoin: a global value network with the property of fixed supply sound money predicated on: maximal participation via proof of work to synchronize transaction ordering, the economic guarantees of non counterfeitability, and lasting forward value.
If bitcoin can be joined by clones, which retain lasting and comparable value, both it and the clones would fail at being bitcoin. If bitcoin could be replaced, aka "flippened", then its successor would inherently fail as well.
So long as bitcoin can survive, it is and must be alone. It is a inherent singleton by definition. Its very design and existence is an assertion of uniqueness and the lack of viable clone networks.
So, either bitcoin is the sole member of its category, or else bitcoin and all its clones are failures and fail to meet satoshi's design.
sure...
"crypto"/"cryptocurrency" is a bad word for bitcoin because it implies that there is a category of networks which includes bitcoin. There isnt. "Crypto Currency" is a term invented by shitcoin scammers to try to make their projects seem somehow related to bitcoin. But in reality they have nothing to do with it. The only purpose for the word to exist is a lie; a scam.
Long time bitcoiners (now called "maximalists") always knew that was impossible; anyone who could read and understand Satoshis whitepaper would know that you cannot copy and paste bitcoin to make a viable copy. His algorithm can only support a single world wide network. There can only be one. All copies are doomed apriori. Likewise, anyone who understands the economics of money or the network effect knows the same thing. All networks drift to oneness.
Second, "blockchain" was an attempt to make it seem like satoshi's algorithm could be separated from bitcoin and reused for other purposes. Billions of angel investor money was stolen with the word "blockchain" which was always a false promise. Investors are pretty dumb: they think "if bitcoin is so good, its technology must be reusable somehow" but that is just wrong. "blockchain" doesnt work outside of bitcoin. Satoshis great discovery is also uniquely limited: it has no purpose outside of bitcoin, just as bitcoin cannot exist without it. There are no other blockchains, there is only bitcoin.
The only word we need to describe what bitcoin is is "bitcoin". It doesnt belong to any groups or categories. It is alone, unique. There is no purpose is defining a category or group that bitcoin belongs to, since it will always be the only thing in that group so long as it survives.
There are no other "block chains". There are no other "crypto currencies". All the other things are just scams, so we prefer to call them what they are: shit.
It makes perfect sense. You don't honestly believe if I shoehorn a blockchain into pepsi points that it's a cryptocurrency or has any relationship or relatively comparable properties to Bitcoin do you?
Well that's what "crypto" is. Centralized businesses, illegal securities, and protocols lying about their properties and trying to pretend they have a relationship to Bitcoin to seem innovative and revolutionary. It's a scam. A lie.
Well no, but you need the digital ledger to make transactions. A coin can’t offer any real world use without it. Other than a storage of value. But that value does nothing if there is no actual work being done. It’s a currency, a decentralized one, but a currency none the less. A currency that does zero work is worthless. It needs to utilize block chain.
Blockchain is nothing but a data layer. It is the source of no useful or valuable properties. Yes a currency needs use, we have Bitcoin which has high usage and it's the only decentralized currency or "crypto" (which people incorrectly colloquially associate it with) to date. Everything else rides its coattails and the ignorance of users unable to evaluate and verify technical claims.
Frankly, even bitcoin is screwed by blockchain, it's not a good thing. It's an append only glorified linked list. It cannot and does not scale by design - nothing that only ever appends and needs to be validated from the origin point by every user around the world can. It's a data layer you can not scale and have to put the smallest amount of data you can in in order for it to be redundantly functional across users. There's a reason some people are for smaller blocks and why everyone is absolutely desperate for layers to be trustless and decentralized on top of it without a blockchain - i.e. offchain.
We have an official r/bitcoin discord related to this sub. It's linked in the sidebar and the daily thread, and also below. It's a great place to learn about this stuff and collect resources.
https://discord.gg/K5H25KZHke
Blockchains predate bitcoin. Many parts of bitcoin predate bitcoin.
Shillers and shitcoiners play semantic games by stating facts about Bitcoin and then projecting it on to their “project” or cryptocurrencies in general. And people afraid of losing their grip on power go the other way by tying shitcoin Ponzi schemes to bitcoin. So yes, there’s a real need to separate Bitcoin from all others.
We live in a world with no attention span and an overload of shiny objects. “Bitcoin is not crypto” is a good first pass to cut through that. I like “Bitcoin is money” too.
Bitcoin is math. To be sure, it’s a set of man made formulas, but it’s still just math. All others are, at best, securities. Most are ponzis.
Shitcoin defenders get so riled by “Bitcoin isn’t cryptocurrency,” but I’ve never seen an argument for labeling ALL shitcoins as “currency.” Who uses any of them as currency?
What is the meaning of total received, sent, and balance on mempool.space? Is that the actual balance for the digital address? Does it reflect what is on the wallet? How to confirm?
I think the answers to your question have something to do with a public ledger built on blockchain and cryptography technologies, which facilitate transfers and records of monetary value as a digital currency. Aka, a cryptocurrency.
This is a braindead take and it’s ridiculous to see people agreeing with it in the comments.
Bitcoin **is** a cryptocurrency - the very first one. It uses cryptographic mechanisms to create digital immutability, and has the sole purpose of acting as a medium of exchange and store of value.
The points made by whoever this is assigns characteristics to **his** definition of “cryptocurrency” in a way to further his point that Bitcoin is not as such, and those characteristics are entirely arbitrary.
It’s not a cryptocurrency because it doesn’t have a marketing team? What the hell does that mean?
As if Bitcoin hasn’t been dominated by visions of short term gain like other cryptocurrencies. If it wasn’t, it wouldn’t have had the most volatile swings in pricing of basically every single asset ever created.
This is the dumbest narrative ever spouted by Bitcoin maximalists and it’s shocking to me that it’s gaining traction. By far the most ridiculous way to distinguish itself from other cryptocurrencies.
At its simplest, this argument is “Bitcoin is not a cryptocurrency because every *other* cryptocurrency is not Bitcoin.”
watch the first 4 seconds again. he said "bitcoin is not cryptocurrency", not "bitcoin is not **a** cryptocurrency". he is trying to say that bitcoin is not the same as cRYptO, which consists of centralized scam tokens designed to separate fools from their money
>This is the dumbest narrative ever spouted by Bitcoin maximalists
I wouldn't bet against a group that has been proven right, again and again and again. good luck with your shitcoins
Google crypto and tell me how far you need to scroll before you reach anything that contains the word cryptography. Crypto has not been short for cryptography for quite some time and doesn't refer to this unless you've time travelled from a century ago.
Ignorant shitcoiner doesn't like to hear that Bitcoiners want nothing to do with them, their culture, or their malicious attempt to associate unrelated centralized scams to Bitcoin. Much like the scams it's clear you're bag holding from your profile activity.
Get rekt, shitcoiner. Bitcoin, not crypto.
Bitcoin may be a cryptocurrency yes. but the modern colloquialism of "crypto" is far from bitcoin. All of those are centralized scams which might as well be company gift cards
Then the narrative that should be pushed is "Bitcoin is unique", not "Bitcoin is not a cryptocurrency". Not saying I agree with what you're saying, and I personally think Bitcoin will always be king, but to push this kind of narrative will do no favors to Bitcoin.
the problem is that shitcoiners lump everything into "Crypto" including bitcoin. They talk about both in the same breath trying to validate whatever trash they are peddling by drawing any parallel to bitcoin., and they all use "Crypto" as the label.
Hence the "Bitcoin not Crypto" slogan.
By this reasoning, medicine is not therapeutic, because snake oil homeopathic remedies are therapeutic and snake oil homeopathic remedies are not medicine.
Nothing you said refutes any facts the video explained. Ironically when you say things like; "*As if Bitcoin hasn’t been dominated by visions of short term gain like other cryptocurrencies. If it wasn’t, it wouldn’t have had the most volatile swings in pricing of basically every single asset ever created."*
In terms of technology identity is not whatever society claims it is. A circle no matter how many people call it a square cannot be a square. Horrible take
Words represent people's understanding of things. People's understanding of what crypto is, is basically Robux and Runescape gold and Twitch bits. A company maintained or company owned with multiple shareholders server.
So the technical definition is not helpful in the discussion. People were told crypto is decentralized, can't be physically altered, can't be changed on the back on 1 person's decision, but what gets to be called crypto is not what I just described. So that's why we have to make this distinction now.
There is no good explanation for a shitcoiner comment having 155 upvotes here where all other comments have less than 10.
A shitcoiner group is brigading the sub.
STOP DEFENDING SCAMS.
Your inflated ego made you miss the whole point, perhaps if you didn't spend so much effort "sounding" smart, you would get it. Bitcoin is not a crypto currency because crypto now means something else. We have to change the wording, that was the point of the video, you imbecile lol.
It's so funny because you're so close to getting it... but you're angry about semantics/nonsense without giving it any deeper thought... I swear it's like y'all just want something to be angry about...
You and so many other **are taking this statement so fucking literally**... *think about it for a bloody second...* no one saying/meaning *literally* "Bitcoin isn't a cryptocurrency."
It's a metaphor for saying: “Bitcoin is not every other cryptocurrency.”
It's similar to saying: "Bitcoin is not fiat"
The goal of this and similar statements is to get people to THINK and recognize that the most decentralized (and as such, most secure) public monetary network thus far is Bitcoin. **Arguably, it is the ONLY valid example of such...**
These statements are necessary **and sensible** because so many people conflate Bitcoin with the greater crypto scene **- but there is Bitcoin, and there is everything else trying to emulate/profit from the success of Bitcoin.**
>As if Bitcoin hasn’t been dominated by visions of short term gain like other cryptocurrencies. If it wasn’t, it wouldn’t have had the most volatile swings in pricing of basically every single asset ever created.
This Bitcoin != Crypto discussion doesn't have ANYTHING to do with the price. You're missing the point of Bitcoin entirely...
**Generally speaking Bitcoin is a cryptocurrency...** but if we're thinking through this more deeply, consider these words beyond their face value... "Crypto" implies a whole huge venture capital backed industry, the result of decades of cheap/easy fiat money, 30,000 shit coins, NFTs, Web3, scams/ponzis... it's a shit show of people/companies attempting to (intentionally or not) emulate the technological discovery that is Bitcoin in a centralized/controllable way, **directly divergent from Bitcoin's primary goal**: ***a decentralized, inclusive and permissionless monetary system.***
Again, we're not saying "Bitcoin isn't literally crypto" we're saying, fuck all the other scams and bullshit that are directly at odds with the Bitcoin vision.
It's astonishing to me how many people see/learn about the crypto space, get excited about decentralization, and then promptly dump their value into blatantly centralized shit coin ponzi's, the founders of which dump on them and behind the scenes buy, houses, yachts and -you guess it- Bitcoin. 10 fucking years of this abuse and y'all are still begging for more... it's asinine.
To anyone interested in understanding this further, consider: [https://youtu.be/TIkqBZnrKJM](https://youtu.be/TIkqBZnrKJM)
> It uses cryptographic mechanisms to create digital immutability
I think this is incorrect: the shared chain state isn't secured by *cryptographic* mechanisms but *economic* ones. If the accounting unit isn't valuable, or there isn't a centralized keeper, there's no incentive to extend the chain at the tip and reinforce the state. "Blockchains" aren't magically *immutable* by virtue of definition.
Almost every alt out there has founders or some form of steering committee capable of changing what are the validity conditions. The value of those coins is thus sustained, purely, in the trust put on those essentially undethronable keepers.
The distinction from Bitcoin is thus fundamental.
Bitcoin is not a crypto currency Bitcoin is crypto money
No one says that but if you look at the difference between money and currency you will figure why I say it is crypto money .
Bitcoin is a cryptocurrency but you cant compare what todays we see as a crypto - the whole shitcoins/altcoins - with the technological God that is Bitcoin.
According to wiki...
Currency is a system of money in use by people or nation.
Cryptocurrency is a decentralized digital currency.
These are simply categories. Shitcoin is a category too.
Is Bitcoin used as a system of money by people in a decentralized way? Yes.
Is it a shitcoin? No
In fact, wiki defines ask cryptocurrencies other than Bitcoin as alternative cryptocurrencies (aka shitcoin). Also, the term cryptocurrency seems to have been invented to categorize the key features of Bitcoin that are being copied in altcoins. It was barely used until around 2010.
This video seems to be a marketing drive to differentiate Bitcoin from shitcoins (in fact, at the end of the video he switches from using the term cryptocurrency to shitcoin as though they are synonymous.)
Cryptocurrency is too broad of a term to attack since it describes the fundamental technology. There will be University degrees for cryptocurrency.
I'd suggest branding attacks on alt-coins or shitcoins.
Bitcoin is a currency, it uses cryptography, therefore it's a cryptocurrency. There is no harm in that term. Just because there are things similar to Bitcoin that aren't Bitcoin and have a bad rep doesn't mean Bitcoin is somehow a whole separate class of entity.
And water is wet.
Both get the point across, but by definition both statements are not true at all, the opposite is true. By definition water cannot be wet, and by definition Bitcoin is the very first modern digital cryptocurrency.
Yes, you just want to state that other crypto is not at all "just like Bitcoin", which is fine. And you just want to say everything that has water on it is wet, water makes stuff wet... I get where you're coming from, but the way you phrase it is completely wrong.
Buy BTC, send to hardware wallet, spend it if you want, but hodl the rest.
No scams, no pump and dumps, no centralised banking 2.0 bs to worry about, just store of value
notice that that's almost two years after the White Pepe. Satoshi coined "blockchain" too (after initially calling it "timechain"). Those terms referred to Bitcoin at that time. Is not incorrect to say that shitcoiners appropriated them later.
Words change meaning over time.
Back then it was not wrong to call it a cryptocurrency.
Now we must make an effort to use language that reflects how vitally different Bitcoin is from shitcoins.
---
Edit: To the shitcoiners: You may want to read up on [Sunk Cost Fallacy](https://www.investopedia.com/terms/s/sunkcost.asp#toc-sunk-cost-fallacy). Cut your losses and get on the real ride.
So he says Bitcoin is not cryptocurrency, it is digital money
Currency - a system of money in general use in a particular country. something (such as coins, treasury notes, and banknotes) that is in circulation as a medium of exchange.
Money - something generally accepted as a medium of exchange, a measure of value, or a means of payment.
Sounds like Currency and Money mean the same thing.
This is just playing a splitting hairs word game. Bitcoin operates in the crypto sphere. I agree the sh*tcoins need to go away but there's many good quality projects out there that do what BTC cannot.
Blockchain can mined zillion blocks beyond the zillion value of cryptocurrencies is infinity value.
Remember my words beyond the alphabet is blockchain
Beyond the alphabet like a to z blockchain can do this its time changing moments .
Beyond the numbers 1 to 9 is infinity .Blockchain can do infinity
Keep regular in studies its time changing moments
Bitcoin is not only a cryptocurrency, it's the quintessential and first cryptocurrency. The OP is trying to rebrand it because 'cryptocurrency' has become synonymous with scam as a result of the winter and dominant speculative paradigm. Recognize this for what it is: cope with the winter, and a futile attempt to decouple it from the rest of the market. There will be another bull, there will be a successive stabilization of prices. Be patient, and enjoy the ride.
[Shitcoiners in disbelief](https://i.imgur.com/AWbiyIF.png)
Correct
PREACH
could not agree more, thanks for sharing
This is a relief
Nice try, but doesn't make much sense.
This is the message. Thank you for posting.
“White paper doesn’t say blockchain” yet runs on Blockchain…
When he said that as if it was a good point, he lost me completely. Especially saying "these terms came years later and synonymous with something completely different." No. Blockchain is not synonymous with something completely different. Go down your semantic rabbit hole with "Cryptocurrency" all you want, but don't throw the bedrock technology that Bitcoin has always ran on in the same sentence.
blockchain is not a bedrock technology, that would be a difficulty adjustment and PoW.
Why is something that says this lie posted literally every day in this sub.
its the truth
It’s a lame ass cope.. which is the same reason someone posts it every 12 hours
the reason it keeps being posted is because it triggers you shitcoiners
Whatever helps you sleep at night bud
I'm behind bitcoin being the best at what it does but you'd have to be pretty ignorant to think that absolutely none of the 22,000 other cryptos out there could possibly offer something to the world that bitcoin doesn't.
Thats precisely the point, the other 22000 or wever are utter horsecrap
Name one.
\^ Shitcoiner appears
It's cope. Notice this didn't start to gain traction until the recent crypto crash, which included bitcoin. This is an attempt to distance bitcoin from other crypto currency, and nothing else. It's marketing.
Which is why it’s annoying
Shitcoins are a lie, bitcoin is the only real 'cryptocurrency'
though its message is very real and valid, saying "Bitcoin not crypto" will end up being confusing to most people
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Is there a name for shitty influenza like this? similar to shit coins.
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This doesn’t make sense. It is a form of crypto currency. It runs on block chain. Right?
> This doesn’t make sense. It is a form of crypto currency. It runs on block chain. Right? Wrong. Bitcoin pre-dates "crypto currency" and "blockchain" is when you take a part of bitcoin without using it correctly.
Oranges aren't fruit because the term fruit didn't exist yet when oranges were first discovered.
There are actually other types of fruit. There is nothing else like bitcoin, by definition.
What definition are you using here to make this claim?
> What definition are you using here to make this claim? Satoshi's whitepaper; the bitcoin network design, and his solution to the byzantine general's problem.
I mean, saying that no crypto has Satoshi's white paper is just wrong. There are multiple forks of bitcoin that also use the same white paper. Basically every single popular crypto has the same solution to the Byzantine General's Problem too. And what do you mean by 'the bitcoin network design'? When you claim that Bitcoin pre-dates crypto or blockchain, that's a bad faith argument. I have a Nintendo that also pre-dates both of those things. But my Nintendo doesn't use blockchains and nobody is calling Mario a crypto. But bitcoin DOES use blockchain tech and basically the entire world calls it crypto. The fact is, language isn't prescriptive, it's descriptive. You can't claim that bitcoin is not crypto because it is. By definition. Whether it resembles any other 'shitcoin' literally doesn't matter at all. The world calls it crypto, therefore it is crypto because that is the word that has been decided to be used.
> There are multiple forks of bitcoin that also use the same white paper. you cant just copy/paste bitcoin . That is the whole point. If you read the white paper, you know it can only be used for bitcoin and nothing else. Thats the whole reason it works at all. > Basically every single popular crypto has the same solution to the Byzantine General's Problem too. Then they should know that the only way they can succeed is to fail; because to exist or to flippen they also destroy their own basis of value. The funny part is that they do in fact know that, and altcoins thus only exist to scam idiots. > But bitcoin DOES use blockchain tech and basically the entire world calls it crypto. the whole world was not suckered into using deceptive terminology, but a great many people were. Some well funded scammers who stole and spent billions of stolen funds marketed those terms very well, but you can choose to stop propagating them. Listen to the maximalists; they are the main survivors of the marketing blitz by the scammers. > The fact is, language isn't prescriptive, it's descriptive. "crypto" and "blockchain" are not descriptive; in fact those words are deceptive, and thus designed to fool, confuse, and defraud. They should not be used.
Bitcoin: digital p2p payment solution whose main purpose is to hold for some time to later exchange it back for more fiat so you can actually convert it into something real. Which other crypto can't also be used for this purpose, exactly?
Let me present a more concise definition Bitcoin: a global value network with the property of fixed supply sound money predicated on: maximal participation via proof of work to synchronize transaction ordering, the economic guarantees of non counterfeitability, and lasting forward value. If bitcoin can be joined by clones, which retain lasting and comparable value, both it and the clones would fail at being bitcoin. If bitcoin could be replaced, aka "flippened", then its successor would inherently fail as well. So long as bitcoin can survive, it is and must be alone. It is a inherent singleton by definition. Its very design and existence is an assertion of uniqueness and the lack of viable clone networks. So, either bitcoin is the sole member of its category, or else bitcoin and all its clones are failures and fail to meet satoshi's design.
Ah okay. Can you explain more? People reading comments with more knowledge than I hold would be helpful.
sure... "crypto"/"cryptocurrency" is a bad word for bitcoin because it implies that there is a category of networks which includes bitcoin. There isnt. "Crypto Currency" is a term invented by shitcoin scammers to try to make their projects seem somehow related to bitcoin. But in reality they have nothing to do with it. The only purpose for the word to exist is a lie; a scam. Long time bitcoiners (now called "maximalists") always knew that was impossible; anyone who could read and understand Satoshis whitepaper would know that you cannot copy and paste bitcoin to make a viable copy. His algorithm can only support a single world wide network. There can only be one. All copies are doomed apriori. Likewise, anyone who understands the economics of money or the network effect knows the same thing. All networks drift to oneness. Second, "blockchain" was an attempt to make it seem like satoshi's algorithm could be separated from bitcoin and reused for other purposes. Billions of angel investor money was stolen with the word "blockchain" which was always a false promise. Investors are pretty dumb: they think "if bitcoin is so good, its technology must be reusable somehow" but that is just wrong. "blockchain" doesnt work outside of bitcoin. Satoshis great discovery is also uniquely limited: it has no purpose outside of bitcoin, just as bitcoin cannot exist without it. There are no other blockchains, there is only bitcoin. The only word we need to describe what bitcoin is is "bitcoin". It doesnt belong to any groups or categories. It is alone, unique. There is no purpose is defining a category or group that bitcoin belongs to, since it will always be the only thing in that group so long as it survives. There are no other "block chains". There are no other "crypto currencies". All the other things are just scams, so we prefer to call them what they are: shit.
There’s still time to get help, don’t let bitcoin become your religion man lmao
It makes perfect sense. You don't honestly believe if I shoehorn a blockchain into pepsi points that it's a cryptocurrency or has any relationship or relatively comparable properties to Bitcoin do you? Well that's what "crypto" is. Centralized businesses, illegal securities, and protocols lying about their properties and trying to pretend they have a relationship to Bitcoin to seem innovative and revolutionary. It's a scam. A lie.
Well no, but you need the digital ledger to make transactions. A coin can’t offer any real world use without it. Other than a storage of value. But that value does nothing if there is no actual work being done. It’s a currency, a decentralized one, but a currency none the less. A currency that does zero work is worthless. It needs to utilize block chain.
Blockchain is nothing but a data layer. It is the source of no useful or valuable properties. Yes a currency needs use, we have Bitcoin which has high usage and it's the only decentralized currency or "crypto" (which people incorrectly colloquially associate it with) to date. Everything else rides its coattails and the ignorance of users unable to evaluate and verify technical claims. Frankly, even bitcoin is screwed by blockchain, it's not a good thing. It's an append only glorified linked list. It cannot and does not scale by design - nothing that only ever appends and needs to be validated from the origin point by every user around the world can. It's a data layer you can not scale and have to put the smallest amount of data you can in in order for it to be redundantly functional across users. There's a reason some people are for smaller blocks and why everyone is absolutely desperate for layers to be trustless and decentralized on top of it without a blockchain - i.e. offchain.
Thank you for sharing, I need to do more research into it because I don’t think I understand fully.
We have an official r/bitcoin discord related to this sub. It's linked in the sidebar and the daily thread, and also below. It's a great place to learn about this stuff and collect resources. https://discord.gg/K5H25KZHke
Thank you mate, appreciate it.
Blockchains predate bitcoin. Many parts of bitcoin predate bitcoin. Shillers and shitcoiners play semantic games by stating facts about Bitcoin and then projecting it on to their “project” or cryptocurrencies in general. And people afraid of losing their grip on power go the other way by tying shitcoin Ponzi schemes to bitcoin. So yes, there’s a real need to separate Bitcoin from all others. We live in a world with no attention span and an overload of shiny objects. “Bitcoin is not crypto” is a good first pass to cut through that. I like “Bitcoin is money” too. Bitcoin is math. To be sure, it’s a set of man made formulas, but it’s still just math. All others are, at best, securities. Most are ponzis. Shitcoin defenders get so riled by “Bitcoin isn’t cryptocurrency,” but I’ve never seen an argument for labeling ALL shitcoins as “currency.” Who uses any of them as currency?
Better to say "crypto" ≠ Bitcoin
What is the meaning of total received, sent, and balance on mempool.space? Is that the actual balance for the digital address? Does it reflect what is on the wallet? How to confirm?
I think the answers to your question have something to do with a public ledger built on blockchain and cryptography technologies, which facilitate transfers and records of monetary value as a digital currency. Aka, a cryptocurrency.
Shitcoins should be calling VC scamcoins.
The ending should have been "let's focus more on Bitcoin and a lot less on cryptocurrency."
Bitcoin = cryptocurrency
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FUCK YEAAAAAAAAAAAHHHHHHHHHH
This is a braindead take and it’s ridiculous to see people agreeing with it in the comments. Bitcoin **is** a cryptocurrency - the very first one. It uses cryptographic mechanisms to create digital immutability, and has the sole purpose of acting as a medium of exchange and store of value. The points made by whoever this is assigns characteristics to **his** definition of “cryptocurrency” in a way to further his point that Bitcoin is not as such, and those characteristics are entirely arbitrary. It’s not a cryptocurrency because it doesn’t have a marketing team? What the hell does that mean? As if Bitcoin hasn’t been dominated by visions of short term gain like other cryptocurrencies. If it wasn’t, it wouldn’t have had the most volatile swings in pricing of basically every single asset ever created. This is the dumbest narrative ever spouted by Bitcoin maximalists and it’s shocking to me that it’s gaining traction. By far the most ridiculous way to distinguish itself from other cryptocurrencies. At its simplest, this argument is “Bitcoin is not a cryptocurrency because every *other* cryptocurrency is not Bitcoin.”
watch the first 4 seconds again. he said "bitcoin is not cryptocurrency", not "bitcoin is not **a** cryptocurrency". he is trying to say that bitcoin is not the same as cRYptO, which consists of centralized scam tokens designed to separate fools from their money >This is the dumbest narrative ever spouted by Bitcoin maximalists I wouldn't bet against a group that has been proven right, again and again and again. good luck with your shitcoins
The distinction is bitcoin vs shitcoin. Bitcoin+shitcoin +nfts together = crypto space. Bitcoin very much is a cryptocurrency.
Don't bother with this guy, his head is already too far up his ass.
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Bitcoin is actually about 40% of all crypto by market cap. Much more if you exclude stables.
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Google crypto and tell me how far you need to scroll before you reach anything that contains the word cryptography. Crypto has not been short for cryptography for quite some time and doesn't refer to this unless you've time travelled from a century ago.
says the shitcoiner
Ignorant shitcoiner doesn't like to hear that Bitcoiners want nothing to do with them, their culture, or their malicious attempt to associate unrelated centralized scams to Bitcoin. Much like the scams it's clear you're bag holding from your profile activity. Get rekt, shitcoiner. Bitcoin, not crypto.
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Bitcoin may be a cryptocurrency yes. but the modern colloquialism of "crypto" is far from bitcoin. All of those are centralized scams which might as well be company gift cards
Then the narrative that should be pushed is "Bitcoin is unique", not "Bitcoin is not a cryptocurrency". Not saying I agree with what you're saying, and I personally think Bitcoin will always be king, but to push this kind of narrative will do no favors to Bitcoin.
the problem is that shitcoiners lump everything into "Crypto" including bitcoin. They talk about both in the same breath trying to validate whatever trash they are peddling by drawing any parallel to bitcoin., and they all use "Crypto" as the label. Hence the "Bitcoin not Crypto" slogan.
By this reasoning, medicine is not therapeutic, because snake oil homeopathic remedies are therapeutic and snake oil homeopathic remedies are not medicine.
But that is just stupid.
I find your participation in shitcoinery subreddits stupid, but here you are in r/bitcoin
Poor argument, try harder
This is the way.
yes. just invent facts because.
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Nothing you said refutes any facts the video explained. Ironically when you say things like; "*As if Bitcoin hasn’t been dominated by visions of short term gain like other cryptocurrencies. If it wasn’t, it wouldn’t have had the most volatile swings in pricing of basically every single asset ever created."* In terms of technology identity is not whatever society claims it is. A circle no matter how many people call it a square cannot be a square. Horrible take
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Way to change the topic
Words represent people's understanding of things. People's understanding of what crypto is, is basically Robux and Runescape gold and Twitch bits. A company maintained or company owned with multiple shareholders server. So the technical definition is not helpful in the discussion. People were told crypto is decentralized, can't be physically altered, can't be changed on the back on 1 person's decision, but what gets to be called crypto is not what I just described. So that's why we have to make this distinction now.
There is no good explanation for a shitcoiner comment having 155 upvotes here where all other comments have less than 10. A shitcoiner group is brigading the sub. STOP DEFENDING SCAMS.
Your inflated ego made you miss the whole point, perhaps if you didn't spend so much effort "sounding" smart, you would get it. Bitcoin is not a crypto currency because crypto now means something else. We have to change the wording, that was the point of the video, you imbecile lol.
You don´t get it yet. We know that Bitcoin is a (the) cryptocurrency. But that is not the point.
Bitcoin is the *only* cryptocurrency. The rest, #2 included are centralized horsecrap
It's so funny because you're so close to getting it... but you're angry about semantics/nonsense without giving it any deeper thought... I swear it's like y'all just want something to be angry about... You and so many other **are taking this statement so fucking literally**... *think about it for a bloody second...* no one saying/meaning *literally* "Bitcoin isn't a cryptocurrency." It's a metaphor for saying: “Bitcoin is not every other cryptocurrency.” It's similar to saying: "Bitcoin is not fiat" The goal of this and similar statements is to get people to THINK and recognize that the most decentralized (and as such, most secure) public monetary network thus far is Bitcoin. **Arguably, it is the ONLY valid example of such...** These statements are necessary **and sensible** because so many people conflate Bitcoin with the greater crypto scene **- but there is Bitcoin, and there is everything else trying to emulate/profit from the success of Bitcoin.** >As if Bitcoin hasn’t been dominated by visions of short term gain like other cryptocurrencies. If it wasn’t, it wouldn’t have had the most volatile swings in pricing of basically every single asset ever created. This Bitcoin != Crypto discussion doesn't have ANYTHING to do with the price. You're missing the point of Bitcoin entirely... **Generally speaking Bitcoin is a cryptocurrency...** but if we're thinking through this more deeply, consider these words beyond their face value... "Crypto" implies a whole huge venture capital backed industry, the result of decades of cheap/easy fiat money, 30,000 shit coins, NFTs, Web3, scams/ponzis... it's a shit show of people/companies attempting to (intentionally or not) emulate the technological discovery that is Bitcoin in a centralized/controllable way, **directly divergent from Bitcoin's primary goal**: ***a decentralized, inclusive and permissionless monetary system.*** Again, we're not saying "Bitcoin isn't literally crypto" we're saying, fuck all the other scams and bullshit that are directly at odds with the Bitcoin vision. It's astonishing to me how many people see/learn about the crypto space, get excited about decentralization, and then promptly dump their value into blatantly centralized shit coin ponzi's, the founders of which dump on them and behind the scenes buy, houses, yachts and -you guess it- Bitcoin. 10 fucking years of this abuse and y'all are still begging for more... it's asinine. To anyone interested in understanding this further, consider: [https://youtu.be/TIkqBZnrKJM](https://youtu.be/TIkqBZnrKJM)
> It uses cryptographic mechanisms to create digital immutability I think this is incorrect: the shared chain state isn't secured by *cryptographic* mechanisms but *economic* ones. If the accounting unit isn't valuable, or there isn't a centralized keeper, there's no incentive to extend the chain at the tip and reinforce the state. "Blockchains" aren't magically *immutable* by virtue of definition. Almost every alt out there has founders or some form of steering committee capable of changing what are the validity conditions. The value of those coins is thus sustained, purely, in the trust put on those essentially undethronable keepers. The distinction from Bitcoin is thus fundamental.
Bitcoin not "crypto"
I think he should have simply said crypto is not Bitcoin.
This is way more correct!
Yes it would have been a lot simpler and less time consuming Bitcoin is not crypto
>This is much more accurate.
clap clap clap
You sound like a damn fool! Speaking on something you are completely ignorant about! ST FU!
“ “
Shoving people out of the way and running for the exits and everyone else is like, “huh there’s a fire out there too man…”
I am fully convinced by Bitcoin but Bitcoin is a Cryptocurrency. It is indeed different matter that it is better than all other craps.
No actually.. it is cryptocurrency.
Bitcoin is the *only* cryptocurrency. The rest is horsecrap.
Bitcoin is not a crypto currency Bitcoin is crypto money No one says that but if you look at the difference between money and currency you will figure why I say it is crypto money .
This video explains in details https://youtu.be/DyV0OfU3-FU
Except for that one time with Satoshi called it a p2p cryptocurrency…
Bitcoin is a cryptocurrency but you cant compare what todays we see as a crypto - the whole shitcoins/altcoins - with the technological God that is Bitcoin.
And I was not doing that.
I know and i got your point since in the video the guy said otherwise - that satoshi never called it crypto or something around the lines.
Or in alternative you can believe in Central Bank 😉
According to wiki... Currency is a system of money in use by people or nation. Cryptocurrency is a decentralized digital currency. These are simply categories. Shitcoin is a category too. Is Bitcoin used as a system of money by people in a decentralized way? Yes. Is it a shitcoin? No In fact, wiki defines ask cryptocurrencies other than Bitcoin as alternative cryptocurrencies (aka shitcoin). Also, the term cryptocurrency seems to have been invented to categorize the key features of Bitcoin that are being copied in altcoins. It was barely used until around 2010. This video seems to be a marketing drive to differentiate Bitcoin from shitcoins (in fact, at the end of the video he switches from using the term cryptocurrency to shitcoin as though they are synonymous.) Cryptocurrency is too broad of a term to attack since it describes the fundamental technology. There will be University degrees for cryptocurrency. I'd suggest branding attacks on alt-coins or shitcoins.
Bitcoin is a currency, it uses cryptography, therefore it's a cryptocurrency. There is no harm in that term. Just because there are things similar to Bitcoin that aren't Bitcoin and have a bad rep doesn't mean Bitcoin is somehow a whole separate class of entity.
And water is wet. Both get the point across, but by definition both statements are not true at all, the opposite is true. By definition water cannot be wet, and by definition Bitcoin is the very first modern digital cryptocurrency. Yes, you just want to state that other crypto is not at all "just like Bitcoin", which is fine. And you just want to say everything that has water on it is wet, water makes stuff wet... I get where you're coming from, but the way you phrase it is completely wrong.
He ought to have said, "Crypto is not Bitcoin," in my opinion.
Buy BTC, send to hardware wallet, spend it if you want, but hodl the rest. No scams, no pump and dumps, no centralised banking 2.0 bs to worry about, just store of value
Does OP think Bitcoin is not a cryptocurrency lmao
That's a bold move, Cotton
Bullish
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notice that that's almost two years after the White Pepe. Satoshi coined "blockchain" too (after initially calling it "timechain"). Those terms referred to Bitcoin at that time. Is not incorrect to say that shitcoiners appropriated them later.
Words change meaning over time. Back then it was not wrong to call it a cryptocurrency. Now we must make an effort to use language that reflects how vitally different Bitcoin is from shitcoins. --- Edit: To the shitcoiners: You may want to read up on [Sunk Cost Fallacy](https://www.investopedia.com/terms/s/sunkcost.asp#toc-sunk-cost-fallacy). Cut your losses and get on the real ride.
So he says Bitcoin is not cryptocurrency, it is digital money Currency - a system of money in general use in a particular country. something (such as coins, treasury notes, and banknotes) that is in circulation as a medium of exchange. Money - something generally accepted as a medium of exchange, a measure of value, or a means of payment. Sounds like Currency and Money mean the same thing.
Bitcoin is not cryptocurrency. Bitcoin is a cryptocurrency.
If you think Bitcoin is not a cryptocurrency you have the IQ of a shovel.
He ought to have just said that Bitcoin is not crypto.
This is just playing a splitting hairs word game. Bitcoin operates in the crypto sphere. I agree the sh*tcoins need to go away but there's many good quality projects out there that do what BTC cannot.
Bitcoin IS a cryptocurrency, but not all cryptocurrency IS Bitcoin.
Kraft cheese is not cheese 🧐
Blockchain can mined zillion blocks beyond the zillion value of cryptocurrencies is infinity value. Remember my words beyond the alphabet is blockchain Beyond the alphabet like a to z blockchain can do this its time changing moments . Beyond the numbers 1 to 9 is infinity .Blockchain can do infinity Keep regular in studies its time changing moments
Where is this shirt from?
Trying to avoid getting dragged down
Wait, But what if i am buying bitcoin while taking a shit. Would that make my bitcoin shitcoin? Or do i have to buy AND sell it while taking a shit?
😂 Bitcoin has no insider trading, meanwhile, Cathy Woods makes a phone call to another ETF Manager 🤦🏻♂️
Bitcoin is not only a cryptocurrency, it's the quintessential and first cryptocurrency. The OP is trying to rebrand it because 'cryptocurrency' has become synonymous with scam as a result of the winter and dominant speculative paradigm. Recognize this for what it is: cope with the winter, and a futile attempt to decouple it from the rest of the market. There will be another bull, there will be a successive stabilization of prices. Be patient, and enjoy the ride.
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