The Five Most Confusing Things About Bitcoin That Hold Back Its Adoption
Bitcoin has been around now for eight years and is maturing with a sizeable market capitalization, with more than 25 mln wallets in circulation. Adoption has benefited from post-Brexit activities, the U.S. elections and in the past week has been further boosted by events in China with currency exit and with India’s new currency reforms. Things are hotting up for Bitcoin. But is terminology holding it back? Misleading language. The language used by the Bitcoin and Blockchain communities is misleading and conjures up all kinds of thoughts and images in people’s mind, often creating the wrong....
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In the beginning, there was 'bitcoin', and it was good. But, bitcoin would end up bearing a nomenclature fruit salad that tests mortal comprehension. Perhaps, that is the natural way of things. As a new technology develops, the number of people exposed to that new technology increases, and the language used to describe the new technology evolves. Initially, the language was limited to bitcoin. Now a person is liable to see any of the following words or phrases that theoretically all mean different things: bitcoin, Bitcoin, block chain, blockchain, Blockchain, private blockchain, public....