"Idiom and Context" TAG

Fiat Currency
  • glossary
A fiat currency is a currency issued and controlled by a central government. Fiat currencies are often not backed by physical commodities (i.e. precious metals, diamonds, etc.). Rather, the value of fiat money is largely determined by the government that issues it, which can manipulate the currency through changing its circulating supply (among other methods)....
Arbitrage
  • glossary
Arbitrage refers to the practice of simultaneously buying and selling the same asset on different exchanges to profit from differences in prices. The asset is purchased on an exchange offering a lower price and then immediately sold on an exchange offering a higher price, with the difference between the two prices being the profit the...
Proof of Keys (PoK)
  • glossary
Proof of Keys is a practical and philosophical movement focused on the removal of assets from centralized exchanges to empower individual users. Its characteristics mirror those of a bank run, in which massive amounts of people quickly withdraw funds from banks due to concerns over their solvency. However, while bank runs are typically unplanned and...
Metadata
  • glossary
Data that provides information about other data is called ‘Metadata.’ Metadata is used to to provide digital identification, organize electronic resources, curate information and conduct analysis, among other things.
Hodl
  • glossary
HODL is cryptocurrency slang. Originally a spelling mistake in a 2013 BitcoinTalk thread explaining why a user was holding in the current market circumstances (the user admits being a ‘bad day trader’ and not having the skill set needed to succeed in short term trading), HODL has since come to describe a certain trading strategy...
BitLicense
  • glossary
A BitLicense is a business license issued by the New York State Department of Financial Services to companies seeking to engage in activities involving virtual currencies within the state of New York. The license regulates and is legally required for participation in the following activities: Receiving, transmitting, securing or maintain control of virtual currency on...
Bitcoin Pizza
  • glossary
The “Bitcoin Pizza” is famous early Bitcoin transaction. On May 22nd, 2010, Laszlo Hanyecz bought two large pizzas for 10,000 BTC, worth $41 USD. Seven years later, that same quantity of BTC would be worth approximately $200 million USD. The incident exemplifies one of the challenges in designing a new currency suitable both as a...
DApp
  • glossary
A decentralized application or dApp (a.k.a DApp, dapp, Dapp) is an application that runs on a distributed computing system, rather than a central computer. The manner and degree to which a dApp is decentralized can vary, though dApps typically feature one or more of the following: decentralized operation, decentralized storage, use of cryptographic tokens for...
BTC/BCH Fork
  • glossary
Bitcoin Cash is the result of a 2017 hard-fork of Bitcoin, stemming from differing approaches to scale transaction throughput. Broadly, Bitcoin Cash represents an attempt to scale transaction throughput by increasing the base block size. A hard-fork is a software change that is incompatible with the previous iteration of the code, meaning that nodes running...
Bitcoin Improvement Proposal (BIP)
  • glossary
Influenced by previous methods of managing open-source code bases supported by distributed teams, such as Python Enhancement Proposals (PEPs), Bitcoin Improvement Proposals (BIPs) are a process for logging suggested changes to Bitcoin’s code base. The project utilizes an open contributor model in which anyone is welcome to contribute towards development in the form of peer...
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