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As a nitpick the proper term is "cryptocurrency", not "digital currency". A cryptocurrency does not necessarily have to be stored or generated digitally.
by aphextron 9y ago
As a nitpick the proper term is "cryptocurrency", not "digital currency". A cryptocurrency does not necessarily have to be stored or generated digitally.
- lesiva 9y agoMakes sense. Coinbase's website is plastered with the term "digital currency" so that seemed the safest to use since I'm not too familiar with that market :)
- discombobulate 9y agoThey do that for their benefit, & for the benefit of their regulator bedfellows (I think). The SEC, for example, dare not mutter the word 'crypto', confirming that Bitcoin et al do actually exist!
- avian 9y ago> A cryptocurrency does not necessarily have to be stored or generated digitally. How would a non-digital cryptocurrency work? While signal scramblers, an analog equivalent to digital cryptography, did exist, I have a hard time imagining an analog blockchain.
- 45h34jh53k4j 9y agoa block is just a header, a ref to the previous block, a set of tx's and a nonce to satisfy the work function. It being digital is just its encoding. An analog cryptocurrency could be carved into trees or anything.
- avian 9y agoAre you confusing digital with electronic? Ones and zeros carved into a tree are still a digital record. Digital refers to the fact the you operate on a set of discrete values, in contrast to a continuum of values. Medium is irrelevant. Just to be clear. I do agree with the argument above that "cryptocurrency" is a much more fitting term than "digital currency".
- 45h34jh53k4j 9y agoYeah, I think I am confusing the two. I suspect there are chemical compounds that when reacted can perform analog arithmetic. If you used that to create signing, hashing and propagation logic I dare say analog cryptocurrencies could exist.
- deleted 9y ago[deleted]