Which Crypto Phrases Will Become Extinct? Industry Experts Weigh In

The world of cryptocurrency is filled with a plethora of unique phrases and hyper-specific terminology that usually has an interesting backstory.

One of the most infamous examples of crypto-jargon, ‘hodl’, arose out of a simple misspelling of the word ‘holding’ on a Bitcointalk.org post way back in December 2013.

But as the cryptocurrency industry continues to ebb and flow, the lexicon changes with it.

Breaker Magazine profiled a list of cryptocurrency experts and enthusiasts who were willing to chime in about what terms and words might stick around in the crypto world, and which ones could be relegated to the dustbin of history.

Commonality Brings People Together

One trend that was seen in a couple of the comments was the idea of commonality. Some thought words that seemed to drive wedges between people would eventually become obsolete.

Po.et CEO Jarrod Dicker noted how “the only terms we’ll remember (or need) are those that bring everyone together.” He asserted how terms like ‘nocoiners’ and ‘bitcoin maximalists’ would eventually disappear.

A somewhat similar sentiment was expressed by cryptocurrency enthusiast Preston Byrne, who predicted ‘nocoiner’ would be gone in the next three to five years. Byrne specifically noted how everyone would own some sort of a coin at this point in time.

Logos Network founder Michael Zochowski pointed out how terminology in the future would probably be emblematic of a more mature ecosystem, one that is going to largely move away from individual investors who are just trying to cash in on short-term gains.

As a result, he speculated that shallow terms, like ‘FUD’ and ‘shill,’ might make their way out of the space.

Are Some Terms Here to Stay?

Despite the difference in opinions, there were a couple of phrases and terms that some seemed to muse would stay around for a while.

Byrne pointed out how the ubiquitous ‘HODL’ had already diversified into other phrases, meaning it would probably stick around for the next five years. BloXroute Labs founder Emin Gun Sirer also said HODL would still be around for the same time frame.

Some, like Blockchain Capital LLC’s Jimmy Song, thought some terms would disappear once people realize how silly the underlying concepts are.

He specifically noted how EEA/Hyperledger “haven’t produced” anything and would go away once it stopped getting funding. Song expressed a similar sentiment for DApps, DPoS, and ICOs, after they “are going to be shown to be massive failures in 10 years’ time.”

Deloitte Luxembourg to Trial Bitcoin Payments for Staff Lunches

Neil Dennis

Deloitte, one of the so-called "Big Four" audit and consulting firms is to allow its staff to pay for their lunch in bitcoin, the Luxembourg Times reported on Tuesday.

While the firm does not plan to allow clients to pay for its services in bitcoin in the near future, the company said it was pleased to allow the lunchtime trial for its staff to "assess this new technology" in the company canteen.

While it doesn't transact in bitcoin, Deloitte has been active in developing blockchain technology for its fund management business.

PwC to Accept Bitcoin

The Luxembourg branch of Big Four rival, PwC, announced in early September it would accept bitcoin payments from its clients from the beginning of October. 

PwC said in a press release it was making the move to acknowledge the needs of its clients and the increasing adoption of crypto in Luxembourg. It added:

Our role is to lead and it is only by being an active leader with exposure that we at PwC Luxembourg can understand the challenges inherent to the crypto world.


Featured Image Credit: Photo via Pixabay.com