Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Why are we calling it crypto? Just call them private coins

snat-s.github.io

Post reply on HN
Print view View original

11–20 of 62 posts

Re: Why are we calling it crypto? Just call them private coins

#11

Post by qeternity »

ramphastidae wrote: post #8

> Can we just talk about the fact that airlines have private coins but they just call them points or miles? Or what about this thing that everyone hates inside of video games that is just passing money to power points or gold coins, or jewels, etc. Or even casinos with stablecoins that are just called chips. This is actually very interesting and one of the first times I have heard of practical uses of crypto. If cred…

> users would have greater ownership of their rewards, and they could be traded in secondary markets.

Airlines do not want this. It's explicitly forbidden in their TOS. It has nothing to do with blockchain/web3.

Re: Why are we calling it crypto? Just call them private coins

#13

Post by tromp »

qeternity wrote: post #12
jmprspret wrote: post #5

Well, most of them aren't private. So, that doesn't work either.

Of course they are. Private in this context means non-sovereign.

> public coins in the sense of government backed currency and we get private coins in the sense of company backed currency

We don't call them that because blockchain (as originally intended) should be not be company backed.

> I think we can catalog most of the companies in the crypto scene in this part. Yes, we still have foundations (ETH), but let's be real, they are not the majority.

Ignoring that with its 70% premine, ETH significantly deviates from the decentralization ideal, Bitcoin and Ethereum together do form the huge majority of the cryptospace.

Re: Why are we calling it crypto? Just call them private coins

#16

Post by [deleted] »

qeternity wrote: post #11
ramphastidae wrote: post #8

> Can we just talk about the fact that airlines have private coins but they just call them points or miles? Or what about this thing that everyone hates inside of video games that is just passing money to power points or gold coins, or jewels, etc. Or even casinos with stablecoins that are just called chips. This is actually very interesting and one of the first times I have heard of practical uses of crypto. If cred…

> users would have greater ownership of their rewards, and they could be traded in secondary markets. Airlines do not want this. It's explicitly forbidden in their TOS. It has nothing to do with blockchain/web3.

[deleted]

Re: Why are we calling it crypto? Just call them private coins

#17

Post by yesenadam »

duskwuff wrote: post #3
formerkrogemp wrote: post #2

It's a little late for crypto shills to rebrand. I don't think the word 'shill' is uncalled for at this point. I've been burned a bit and so have some of my friends and family. I haven't seen anyone offering refunds, just lovely names like "degenerate."

> just lovely names like "degenerate." The use of this term as an insult has some especially nasty history behind it: https://en.wikipedia.org/wiki/Degenerate_art

Degenerate and base art thou. – Shakespeare, The Two Gentlemen of Verona, Act 5, Scene 4
Post reply on HN