Bitcoin: the first cryptographically secured currency that solves the problem of digital scarcity.
Blockchain: A technology protocol that applies many different technology to create a distributed tamper-proof global ledger that is immutable by consensus. It is the underlying technology of bitcoin. Bitcoin is the first implementation of this technology.
Cryptocurrency: A digital currency that is secured by cryptography.
Decentralization: Dispersing systems, power, or functions away from a central location or authority. A localization of knowledge.
Digital Asset: A digital token that has been cryptographically secured on the blockchain and represents a unit of value.
Economics: The study of human action. It is a social science, not a mathematical or natural science.
Federal Reserve (Fed): An organization that isn't quite private, and isn't quite public, but controls the US Dollar money supply with little oversight.
Fiat currency: currency legislated by a state actor (government).
Free order: The balance between design and spontaneous order.
Hash rate: the number of hashes performed per second to secure a proof of work blockchain.
Inflation: An increase in the money supply, usually caused by the Federal Reserve System or other central banks. A result of inflation is an increase in prices and a decrease in your purchasing power. Legal Tender: Currency that has been recognized in a region through legislation. The US Dollar is considered legal tender in the United States of America.
Money: A commodity that is widely recognised as a language of value.
Mining: Auditing of the blockchain by using a computers computational power.
Politician: A sociopath.
Satoshi Nakamoto: The pseudonym of the person or person(s) who created bitcoin. A pioneer and visionary.
Spot Price: The market price of a commodity at a specific point in time. The current spot price of bitcoin is:
1 BTC = -
Voluntaryism: A philosophy of mutual interaction and trade between individuals without the use of aggression.
Wallet: Software used to manage private keys and interface with a cryptocurrency's blockchain. It should really be called a keyring.