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Abstract

a href="https://unsplash.com/?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure><p id="6b49">Probably the simplest of the 3 words is Blockchain. Like Tom the asshole, let’s break down blockchain.</p><p id="5b26">Block + Chain.</p><p id="d0ea">Basically, it is a bunch of blocks held together by a chain. Each time new information is added, another block is put on top and connected with a chain. Blockchain.</p><p id="bbce">At first, each person had their own blockchain they could swirl around their head like a <a href="https://en.wikipedia.org/wiki/Flail_(weapon)">flail</a>. But once it became more popular, personal blockchains became too heavy. So they all had to be turned in to the keeper of blockchains and combined into one large chain of block.</p><p id="19d0">Pretty simple, huh?</p><h1 id="a166">Bitcoin</h1><figure id="d908"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*veBWQhs_dLOsIiXM"><figcaption>Photo by <a href="https://unsplash.com/@thoughtcatalog?utm_source=medium&utm_medium=referral">Thought Catalog</a> on <a href="https://unsplash.com/?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure><p id="65d9">Now that we know what a blockchain is, it leads us to Bitcoin.</p><p id="045d">Bit + Coin.</p><p id="0909">Bit of a coin.</p><p id="cef9">To understand this, we first need to know that the original Bitcoin was much larger than it is now. About 10 times larger. And they originally named it Coin.</p><p id="8362">If you scroll back up to the picture of the blocks, you will see there is a perfect circle in the middle.</p><p id="5a54">The original coin (Coin) would not fit into the circle on the blocks, so they had to reduce the size of the coins to fit. Once they did this, they changed the name from Coin to Bitcoin because it was just a “bit” of the original size.</p><p id="eecf">So all Bitcoins are attached to the blocks which are held together by the chain.</p><p id="5271">Got it? Easy, right?</p><h1 id="230a">Cryptocurrency</h1><figure id="e62f"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*7Ka8wMBHC_tH-KHE"><figcaption>Photo by <a href="https://unsplash.com/@redaquamedia?utm_source=medium&utm_medium=referral">Denny Müller</a> on <a href="https://unsplash.com/?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure><p id="f3db">Ok, now it’s all going to come together once we know what cryptocurrency means. L

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et’s break the word down like we have the others.</p><p id="07c3">Crypt + O + Currency.</p><p id="be08">Like Bitcoin, we need to know the history behind cryptocurrency to understand it.</p><p id="b73c">Way back in 2008, a man by the name of Ryan O’Malley was hired to find a place to keep all the blockchain and Bitcoin safe. For completing this task, he was allowed to name the location where all of it is kept (which is a secret only known to a few).</p><p id="429a">Anyway, Ryan found the perfect spot. A crypt. From what I’ve heard, it is glorious. Nothing like your regular crypt.</p><p id="8229">So once he found this perfect spot, they put all the currency (the bitcoin attached to the blockchain) inside it. And he named it Crypt O’Currency to honor his name.</p><p id="0c20">However, some of the other people involved didn’t like the name. It sounded too much like cereal, so they changed it to Crypt Of Currency.</p><p id="73a3">But once again, they wanted to change the name because including “Of” made it sound like a movie or video game.</p><p id="f233">And this is when they realized the shape of the crypt. It was a perfect O.</p><p id="cc3f">Hence the name cryptocurrency. One word.</p><p id="2376">It is a crypt shaped like an O and is full of currency (blockchain and bitcoin).</p><p id="efb5">Cryptocurrency.</p><p id="b64f">How simple can it be?</p><p id="e78a">Blocks held together by chains with bits of coins attached to them (which equals currency), all stored in a crypt shaped like an O.</p><p id="0b8a">What’s so hard to understand?</p><p id="e2f8">Let’s be honest, all the other articles just plain suck. They don’t know how to explain it like me because I’m a Word Meaning Champion. And you are not.</p><p id="f0f2">Unless you are Tom from Pittsburgh. Then you are both a champion <i>and</i> an asshole.</p><p id="c738">If you liked this, you may also like this:</p><div id="419c" class="link-block"> <a href="https://readmedium.com/go-f-ck-yourself-bob-ross-f16caa7ea718"> <div> <div> <h2>Go F*ck Yourself, Bob Ross</h2> <div><h3>With Your Happy Little Trees</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*Rq22OLJlNerLayjt_e8Q9w.jpeg)"></div> </div> </div> </a> </div></article></body>

Helping You Understand Blockchain, Bitcoin, and Cryptocurrency

From a Word Expert

“A piggy bank on a white surface” by Fabian Blank on Unsplash

Blockchain, bitcoin, and cryptocurrency. A bunch of strange words they are. So I understand all the confusion around these topics. It’s hard. When something new comes on the scene, we are all a little flabbergasted.

And these three things have become a popular trend to write about, especially here on Medium.

Now there are all kinds of articles professing to know what each of these terms means and what they do. And most of them are wrong or take a Ph.D. to understand. But it’s not as hard as we make it out to be. You just need the right teacher.

You see, I’m an expert. In words. I was crowned World Word Champion in 2017 at the Word Meaning Championships held in Tristan de Cunha. In 2018, I had to sit out due to a tongue injury.

And that jackass Tom from Pittsburgh won.

Anyway, all we have to do to understand anything is to break words down. And I’m here to do that for you.

You’re welcome.

For example, Tom from Pittsburgh is an asshole. If we break down asshole, we get ass and hole. In your ass, there is a hole. That word means you have a hole in your ass and also means that’s what Tom is. He is like the hole in your ass.

Can’t get much easier than that, right?

So let’s get started!

Blockchain

Photo 1 by Raphael Koh on Unsplash and Photo 2 by Kaley Dykstra on Unsplash

Probably the simplest of the 3 words is Blockchain. Like Tom the asshole, let’s break down blockchain.

Block + Chain.

Basically, it is a bunch of blocks held together by a chain. Each time new information is added, another block is put on top and connected with a chain. Blockchain.

At first, each person had their own blockchain they could swirl around their head like a flail. But once it became more popular, personal blockchains became too heavy. So they all had to be turned in to the keeper of blockchains and combined into one large chain of block.

Pretty simple, huh?

Bitcoin

Now that we know what a blockchain is, it leads us to Bitcoin.

Bit + Coin.

Bit of a coin.

To understand this, we first need to know that the original Bitcoin was much larger than it is now. About 10 times larger. And they originally named it Coin.

If you scroll back up to the picture of the blocks, you will see there is a perfect circle in the middle.

The original coin (Coin) would not fit into the circle on the blocks, so they had to reduce the size of the coins to fit. Once they did this, they changed the name from Coin to Bitcoin because it was just a “bit” of the original size.

So all Bitcoins are attached to the blocks which are held together by the chain.

Got it? Easy, right?

Cryptocurrency

Ok, now it’s all going to come together once we know what cryptocurrency means. Let’s break the word down like we have the others.

Crypt + O + Currency.

Like Bitcoin, we need to know the history behind cryptocurrency to understand it.

Way back in 2008, a man by the name of Ryan O’Malley was hired to find a place to keep all the blockchain and Bitcoin safe. For completing this task, he was allowed to name the location where all of it is kept (which is a secret only known to a few).

Anyway, Ryan found the perfect spot. A crypt. From what I’ve heard, it is glorious. Nothing like your regular crypt.

So once he found this perfect spot, they put all the currency (the bitcoin attached to the blockchain) inside it. And he named it Crypt O’Currency to honor his name.

However, some of the other people involved didn’t like the name. It sounded too much like cereal, so they changed it to Crypt Of Currency.

But once again, they wanted to change the name because including “Of” made it sound like a movie or video game.

And this is when they realized the shape of the crypt. It was a perfect O.

Hence the name cryptocurrency. One word.

It is a crypt shaped like an O and is full of currency (blockchain and bitcoin).

Cryptocurrency.

How simple can it be?

Blocks held together by chains with bits of coins attached to them (which equals currency), all stored in a crypt shaped like an O.

What’s so hard to understand?

Let’s be honest, all the other articles just plain suck. They don’t know how to explain it like me because I’m a Word Meaning Champion. And you are not.

Unless you are Tom from Pittsburgh. Then you are both a champion and an asshole.

If you liked this, you may also like this:

Go F*ck Yourself, Bob Ross

With Your Happy Little Trees

medium.com