crypto is short for "cryptography"

if you want a shorter word for "cryptocurrency", the word you are looking for is "ponzi"

@00dani ELI5 why crypto is a Ponzi scheme but everything else non-perishable you can buy and sell isn't


@00dani also, how would you make a decentralised censorship-resistant digital currency that doesn't have those properties?

@Hyolobrika @00dani
IMO many financial instruments other than cryptocurrencies are ponzi schemes as well, or at least speculative bubbles. It may as well be impossible to create a censorship-resistant digital currenct that isn't prone to become such a bubble, but I don't know enough abiut economy to be able to tell.

Maybe calling all cryptocurrencies a ponzi scheme is an exaggeration, but calling it "crypto" isn't good either.

@wolf480pl @Hyolobrika @00dani In the Hebrew Wikipedia the name used means "distributed currency".

@wolf480pl @Hyolobrika @00dani OCAP systems can facilitate trade and they don't require a blockchain. But they are more like local exchange trading systems than global currencies.

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