In addition to using it as a currency, sure. But as I asked rigatti, is that a problem? At worst one might perhaps argue that the name "cryptocurrency" is misleading, but I've never cared much about semantics like that.
In addition to using it as a currency, sure. But as I asked rigatti, is that a problem? At worst one might perhaps argue that the name "cryptocurrency" is misleading, but I've never cared much about semantics like that.
TheGrandNagus@lemmy.world 9 months ago
You’re saying “in addition to using it as a currency” as if that’s actually what people do with crypto. They don’t.
And yeah, it is a problem. It renders it useless outside of as a bit of gambling on the side.
FaceDeer@kbin.social 9 months ago
Alright, so let's call them cryptotokens instead. I've always preferred that myself, it's a much more general description of what they do. It doesn't change what they are but if that term makes you happier we can go with that.
Hardly, there are lots of things you can do with these things. A ledger is more than just money, it's a database. You really can't think of useful things that could be done with a completely decentralized and permissionless database?
TheGrandNagus@lemmy.world 9 months ago
People don’t use bitcoin or other cryptocoins as a general purpose database. They use it as they’d use a stock.
FaceDeer@kbin.social 9 months ago
Bitcoin, no, because it's a hopelessly out of date blockchain that actively resists having new capabilities added to it. Ethereum, on the other hand, is designed that way from the ground up. Many of the other smaller but more modern blockchains are also like that.