Cryptocurrencies Aren’t ‘Crypto’

Lorenzo Franceschi-Bicchierai, writing for the Motherboard: Lately on the internet, people in the world of Bitcoin and other digital currencies are starting to use the word “crypto” as a catch-all term for the lightly regulated and burgeoning world of digital currencies in general, or for the word “cryptocurrency” — which probably shouldn’t even be called “currency,” by the way. For example, in response to the recent rise of Bitcoin’s price, the CEO of Shapeshift recently tweeted: “don’t go into debt to buy crypto at these prices.” “Crypto Stocks Rise,” read a headline on Tuesday from the trade publication Investor Business Daily. But the financial blog Seeking Alpha outdid them all by publishing a post titled “Tales From The Crypto.” Excuse me, “the crypto” what? As someone who has read and written about cryptography for a few years now, and who is a big fan of Crypto, the 2001 book by Steven Levy, this is a problem. “Crypto” does not mean cryptocurrency. The above are just three examples picked at random, but if you don’t believe me, just search “crypto” on Google News or Twitter. On the internet, “crypto” has always been used to refer to cryptography. Think, for example, the term “Crypto Wars,” which refer to government (originally the US government) efforts to undermine and slow down the adoption of unbreakable communications systems. By the way, the book Crypto isn’t about Bitcoin. It’s about cryptography, and more in particular, about the cryptographers who fought the government in the so-called Crypto Wars.

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