hm, recently I ve been wondering whether we should call them cryptocurrencies. Cause words matter. What I find fascinating is that we still call crypto — coins — because that’s the language we’ve been using for 3000 years and we try to understand the new world with an old language. And we also try to crypto assets by applying the concepts, names that we already use even though if they don’t entirely fulfil their definitions. That’s why we are trying to find similarities between crypto assets and the real world that we know. And we are trying to give it the name that we know.
I wrote more here: https://hackernoon.com/cryptocurrencies-should-we-really-call-them-currencies-44a2f0ae5bc7
if you find the topic interesting. Curious to hear your thoughts!
Great point. It does get very confusing as many of them do not or were not intended to function as a currency. I like to use the term digital assets instead of cryptocurrencies. The reason I use this for the title of the video, is that most people have heard of cryptocurrencies and not digital assets. Great article btw!