crypto terms

“Tuzemun forever”, or crypto-terms that no one will remember in 10 years

In December 2013, someone under the nickname “GameKyuubi” posted a post on the Bitcointalk forum titled “I AM HODLING”. So, thanks to one typo, crypto investors have a term that they use to denote a firm intention not to get rid of an asset, even if its price rises or falls rapidly..

BREAKER spoke with several representatives of the cryptocurrency industry to find out which terms, in their opinion, will remain for a long time, and which ones will go out of fashion in a year, 2, 5, 10 years..

Eric Voorhees, CEO and founder of ShapeShift exchange

All I can say is that the term “fiat” will become obsolete in 20 years and will take its place next to “VHS” and “bills”. The difference is that the last two things have proven beneficial to humanity..

Jimmy Song Partner at Blockchain Capital LLC

After 5 years: “ASIC-resistance”, “DAO”, “Enterprise Ethereum Alliance”, “Hyperledger”

“DAO” / “ASIC” – it is stupid to resist, and the corresponding words will not be in the language in 5 years.

“EEA” / “Hyperledger” didn’t do anything useful. The research departments of corporations will soon stop giving them money and they will quietly disappear.

After 10 years: “DApp”, “DPoS”, “ICO” – all of them will show their complete failure in the next 10 years. But the collected money may last for a long time, hence 10 years.

CEO Jarrod Dicker

We will remember or need only those things that unite us, not separate us. Therefore, “noukoiners”, “bitcoin-maximalists” and “shitcoiners” will become a thing of the past, as more and more people will choose common terms, goals and views..

Blockchain and Cryptocurrency Consultant Preston Byrne

Hodl has already spawned several similar words. He was 5 years ago, will be in 5 years.

The “noukoiner” will disappear in 3-5 years, as the use cases of technology that do not imply gambling on penny stocks are becoming more popular. At this stage, everyone will have some kind of coin, the role of which is now played by securities. The division into speculative and non-speculative (“nookoiners”) investors will disappear, and with it the word.

“Lambas” at a certain moment will cease to be a cool thing, when rap stars begin to dissect along the roads on other catchy, most likely electric, monsters..

“To the moon” has always been and will always be, because only in such expressions will people be able to communicate with rubbers like me, who are ready to devote their time and attention to anyone who uses cryptocurrency clichés of 2014.

“Hyperbitcoinization” will not disappear anytime soon because it is a professional term.

Cornell University Professor Emin Gun Sier

“Hodl” will be used for another five years, because people who clung to this ideology are slowly leaving the ecosystem and are being replaced by those who create functional systems that are really usable.

“Crypt” will always be used as a way to refer to everything related to cryptocurrencies. As ironic as it may sound, the main innovation of cryptocurrencies is not related to cryptography, but to distributed systems. But cryptographers initially liked this use of the word because it helped bring attention to their area of ​​expertise. They now act like they don’t like it, but they’ve benefited immensely from the misconception that crypto is dominant in these new systems..

“Tokenization” will also be popular in the next 5 years, then they will come up with a new word when the shares will be fully tokenized.

“Altcoin” – no one says so.

Lambas are no longer being discussed either. These cars look creepy, no one with taste will get behind the wheel. I wish this word was replaced by something else that is not targeted at fifteen year olds.

“Hyperbitcoinization” is also gone. Bitcoin will survive at least for a while thanks to the general attitude towards its brand that formed in the early days. But it is no longer the main platform for new scenarios..

The word “noukoiner” was invented to tease me with it. There is even a corresponding entry in the Urban Dictionary. I loved it when this word was played on giant billboards in Times Square..

There will be many “flippenings”, so no one will call them that.

“To the moon” – I like the phrase, but it will exhaust itself in a few years.

All critical things will always be called “FUD” to play down their importance.

Silk Road will gradually be forgotten, then they will remember when marijuana will be legalized at the federal level, and in a few decades, calls for pardoning by power of President Ross Ulbricht, who received an excessively harsh punishment, can be expected.

ConsenSys representatives

In a year: “The technology behind bitcoin” (not the best way to explain what blockchain is, there are much more visual alternatives), “ICO”, “bitcoin”.

After 5 years: “Private / public blockchains” (people will perceive privacy in the context of “levels”, since they will have to use technology, and not think about the ratio of private and public chains), “centralized exchange”, “public hex address ”(Seed phrases and hex addresses cause bad experiences for both retail customers and developers),“ browser wallet ”,“ crypt ”,“ distributed ledger ”,“ shitcoin ”,“ flipping ”.

After 10 years: “Fiat gateway”, “fiat”, “token”, “proof of work”, “exchange”, “blockchain” (however, the terms “token” and “exchange” are inherent not only in the world of cryptocurrencies, so they will never go out of circulation).

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