Bitcoin, Blockchain, Cryptocurrency & Other New Words Related to Money

    Photo credit:    btckeychain      on      VisualHunt      /       CC BY       

 Photo credit: btckeychain on VisualHunt /  CC BY

 

Is Bitcoin as good as Monopoly money? Worse than gambling? Well, no matter your opinion, the word itself is now official. Bitcoin is among the 850 new words recently added by Merriam-Webster to its online dictionary.

New words must be “used frequently enough by some in order to be placed in a reference for all,” according to the Merriam-Webster website. Here are some of the new words that recently made it to the online dictionary, including six related to money.

Bandwidth: Today this word has nothing to do with electronics. When your boss tells you he’s giving you a new project because you have the bandwidth, it means you have the emotional or mental capacity.

Bitcoin: A digital currency used for online, peer-to-peer transactions without any government backing. It’s the most popular among virtual currencies.

Blockchain: A digital database containing information that can be used and shared simultaneously within a decentralized, publicly accessible network. Blockchain is key to Bitcoin and other digital currencies.

Cryptocurrency: Any currency that exists only digitally and has no central authority. It uses a decentralized system to record transactions and issuance of new units.

Initial Coin Offering: The first sale of a cryptocurrency to the public for the purpose of raising funds.

Mansplain: A man explaining something to a woman in a condescending way.

Microfinance: Financial services, especially microloans, provided to individuals or groups in developing countries.

Microcredit: Credit in the form of microloans provided to individuals or groups in developing countries.

Wordie: A lover of words, in the vein of foodie (food lover) and groupie (lover of a band).

Read other stories about words:

Forget about Snowflake—it’s time for “Up Lit” and Other New Words

Affluenza, Hispandering, Swatting, and Other Negative Words from the News

Verb, Verbing, Verbification: Turning Nouns into Verbs

 Photo credit: btckeychain on VisualHunt /  CC BY

 

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Cindy Fazzi

Cindy Fazzi is a Filipino-American writer and former Associated Press reporter. She has worked as a journalist in the Philippines, Taiwan, and the United States.  Her short stories have been published in Snake Nation Review, Copperfield Review, and SN Review. Her first romance book, In His Corner, was published by Lyrical Press in April 2015 under the pen name Vina Arno.