Bitcoin

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Noun –

Sense 1 : A type of digital currency in which encryption techniques are used to help regulate the units of currency and verify the movement of funds; Operates independently from a central bank

Sense 2 : A unit of bitcoin

 

Etymology: Derived through a blend of “bit”and “coin” in the early 21st century.

Sociolectal Information: This word was created very recently as a way to explain this new idea of digital currency. It has become increasing used in recent years especially due to an increase in media attention. In the coming years as digital currency takes over we will undoubtedly be hearing this word more and more frequently. Although on the other side there has been a lot of flux in the pricing of Bitcoin and this has caused huge issues that could cause for Bitcoin to be replaced by an alternative.

 

 

Comments

  1. edwiggins says:

    While this post is very informative about the different senses of the word bitcoin, as well as its origin, I think that the entry would be improved with the addition of a lexopinion, as well as some more information about the controversy surrounding the bitcoin, and how that might affect its survival predictions. For example, because the currency is virtual and because it has so much fluctuation in value, the currency itself may not be considered the most trustworthy or prudent, and will lose favor with those who use it. This in turn will greatly affect the survival of the term bitcoin, simply because there is no need for a word with this meaning. Overall, however, I think this was a good entry, providing a simple definition of each of the word’s senses as well as its sociolectal information.

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