[Ads-l] toward a hierarchy of currencies

Dan Goncharoff thegonch at GMAIL.COM
Sat Jul 8 13:52:19 EDT 2017


Since most USD exist digitally, how do you differentiate between 2b and 3?

On Jul 8, 2017 1:26 PM, "Barretts Mail" <mail.barretts at gmail.com> wrote:

> Twice recently, I have implied that bitcoin is an alt coin (“cold -
> inactive, offline” on 28 May and “(cryptocurrency) wallets” on 29 May). It
> may be that the term is sometimes used that way, but that does not seem
> standard.
>
> Here is a tentative hierarchy of currencies:
>
> 1. currency
>
> 2a. fiat currency such as the US dollar, RMB and euro
> 2b: alternative/private currency (https://en.wikipedia.org/
> wiki/Alternative_currency <https://en.wikipedia.org/
> wiki/Alternative_currency>) - any currency used as an alternative to the
> official one. If a state goes rogue and starts printing their own currency,
> that would also qualify.
>
> 3 (from 2b): digital currency, digital money, electronic money (
> https://en.wikipedia.org/wiki/Digital_currency <https://en.wikipedia.org/
> wiki/Digital_currency>) - a currency whose basis resides in computers
>
> 4. virtual currency (https://en.wikipedia.org/wiki/Virtual_currency <
> https://en.wikipedia.org/wiki/Virtual_currency>) - a currency used in a
> virtual community.
>
> 5. cryptocurrency (https://en.wikipedia.org/wiki/Cryptocurrency <
> https://en.wikipedia.org/wiki/Cryptocurrency>) - a currency exchanged
> using cryptography for security
>
> 5a. bitcoin
> 5b. alt coin (derived from “bitcoin alternative according to
> https://en.wikipedia.org/wiki/Cryptocurrency <https://en.wikipedia.org/
> wiki/Cryptocurrency>) - in turn comprising shitcoins and perhaps another
> category of less-risky alt coins such as ethereum and litecoin
>
> It should be noted that since there are bitcoin ATMs in Europe and the US
> (at least), the bitcoin is not truly a virtual currency.
>
> I’m still new to the cryptoworld and am sure further refinements are
> required.
>
> Benjamin Barrett
> Formerly of Seattle, WA
> ------------------------------------------------------------
> The American Dialect Society - http://www.americandialect.org
>

------------------------------------------------------------
The American Dialect Society - http://www.americandialect.org


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