--- title: "Meaning & Key Takeaway of: Digital currency is now a misnomer for…" description: "\"Digital currency is now a misnomer for Bitcoin. It can be used as currency, but it can be used for many things.\" — Erik Voorhees" image: "https://sms4smile.com/quotes/i/f26/erik-voorhees-22378_bitcoin_digital-currency-is-now-a-misnomer-for-b_1678067.jpg" --- # Digital currency is now a misnomer for Bitcoin. It can be… ![“Digital currency is now a misnomer for Bitcoin. It can be used as currency, but it can be used for many things.” quote by Erik Voorhees](https://sms4smile.com/quotes/i/f26/erik-voorhees-22378_bitcoin_digital-currency-is-now-a-misnomer-for-b_1678067.jpg) [Download](https://sms4smile.com/quotes/i/f26/erik-voorhees-22378_bitcoin_digital-currency-is-now-a-misnomer-for-b_1678067.jpg) [Open image](https://sms4smile.com/quotes/i/f26/erik-voorhees-22378_bitcoin_digital-currency-is-now-a-misnomer-for-b_1678067.jpg) > “Digital currency is now a misnomer for Bitcoin. It can be used as currency, but it can be used for many things.” [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Bitcoin’s function goes beyond a simple medium of exchange; it serves as a platform for decentralized applications, store of value, and financial innovation. **In simple terms:** Bitcoin is more than money. Key Takeaway Explore Bitcoin’s broader uses. Themes technology finance innovation Mood analytical forward‑looking Type technological inspirational When to use this quote - investment - software development - remittances - digital identity Key Concepts cryptocurrency decentralization Questions to Reflect On - What non‑monetary uses of Bitcoin excite you? - How can Bitcoin reshape finance? A Different Perspective Regulatory uncertainty can limit adoption. ★ ★ ★ ★ ★ No ratings yet [Bitcoin](https://sms4smile.com/quotes/about/bitcoin/) [Currency](https://sms4smile.com/quotes/about/currency/) [Digital](https://sms4smile.com/quotes/about/digital/) ## Related quotes > [Bitcoin and digital currency is just this thing that was always going to happen.](https://sms4smile.com/quotes/tyler-winklevoss/bitcoin-and-digital-currency-is-just-this-thing-that-was-always-going/) [Tyler Winklevoss](https://sms4smile.com/quotes/author/tyler-winklevoss/) > [Bitcoins are not an investment. They are an investment fad that someday could be a real digital currency, but if they continue to behave…](https://sms4smile.com/quotes/kurt-eichenwald/bitcoins-are-not-an-investment-they-are-an-investment-fad-that/) [Kurt Eichenwald](https://sms4smile.com/quotes/author/kurt-eichenwald/) > [Bitcoin is mostly about anonymous transactions, and I don't think over time that's a good way to go. I'm a huge believe in digital…](https://sms4smile.com/quotes/bill-gates/bitcoin-is-mostly-about-anonymous-transactions-and-i-don-t-think-over/) [Bill Gates](https://sms4smile.com/quotes/author/bill-gates/) > [You'll be using digital currency. I think really what will happen is you'll use a combination of bitcoin, ether, your devices, the 'Internet of…](https://sms4smile.com/quotes/tyler-winklevoss/you-ll-be-using-digital-currency-i-think-really-what-will-happen-is/) [Tyler Winklevoss](https://sms4smile.com/quotes/author/tyler-winklevoss/) > [Bitcoin is very ideologically fulfilling, it's my form of political activism, but it's also a huge business opportunity.](https://sms4smile.com/quotes/erik-voorhees/bitcoin-is-very-ideologically-fulfilling-it-s-my-form-of-political/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Bitcoin is open-source, global, and requires no permission from anybody, so thousands of entrepreneurs are gravitating in and building their vision.](https://sms4smile.com/quotes/erik-voorhees/bitcoin-is-open-source-global-and-requires-no-permission-from-anybody/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [The Dwolla incident was to be expected. The government will go after sites that it thinks are supposed to register as money transmitters. Some…](https://sms4smile.com/quotes/erik-voorhees/the-dwolla-incident-was-to-be-expected-the-government-will-go-after/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [The big exchanges that hold customer deposits are a big target for hackers, and unfortunately, most bitcoin exchanges store user funds.](https://sms4smile.com/quotes/erik-voorhees/the-big-exchanges-that-hold-customer-deposits-are-a-big-target-for/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Bitcoin is two things which share a name. One, it's a payment system, and two, it's a currency. You use the Bitcoin payment system…](https://sms4smile.com/quotes/erik-voorhees/bitcoin-is-two-things-which-share-a-name-one-it-s-a-payment-system/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Bitcoin will hit thousands of dollars per coin, because it's worth at least that much, or it's worth zero.](https://sms4smile.com/quotes/erik-voorhees/bitcoin-will-hit-thousands-of-dollars-per-coin-because-it-s-worth-at/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [The number of industries, communities, habits, traditions, and even interpersonal interactions that Bitcoin has the potential to revolutionize is massive.](https://sms4smile.com/quotes/erik-voorhees/the-number-of-industries-communities-habits-traditions-and-even/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [In the longterm for Bitcoin, Gox needed to go away.](https://sms4smile.com/quotes/erik-voorhees/in-the-longterm-for-bitcoin-gox-needed-to-go-away/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [The value of Bitcoin is astronomical, but the price goes all over the place as a million buyers and sellers try to figure out…](https://sms4smile.com/quotes/erik-voorhees/the-value-of-bitcoin-is-astronomical-but-the-price-goes-all-over-the/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Mt. Gox was a teachable moment for everyone in the Bitcoin community, and ShapeShift has innovated these problems out of the picture.](https://sms4smile.com/quotes/erik-voorhees/mt-gox-was-a-teachable-moment-for-everyone-in-the-bitcoin-community/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Bitcoin is absolutely the Wild West of finance, and thank goodness. It represents a whole legion of adventurers and entrepreneurs, of risk takers, inventors,…](https://sms4smile.com/quotes/erik-voorhees/bitcoin-is-absolutely-the-wild-west-of-finance-and-thank-goodness-it/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) ## More by Erik Voorhees > [Bitcoin is absolutely the Wild West of finance, and thank goodness. It represents a whole legion of adventurers and entrepreneurs, of risk takers, inventors,…](https://sms4smile.com/quotes/erik-voorhees/bitcoin-is-absolutely-the-wild-west-of-finance-and-thank-goodness-it/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Personally, I had over 550 BTC in Gox. I will never get any of that back.](https://sms4smile.com/quotes/erik-voorhees/personally-i-had-over-550-btc-in-gox-i-will-never-get-any-of-that-back/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Whenever the price of cryptocurrency is rallying, people start spending a lot more.](https://sms4smile.com/quotes/erik-voorhees/whenever-the-price-of-cryptocurrency-is-rallying-people-start/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [You cannot have an asset that goes up in price 1% every month or 1% every six months or every day without people starting…](https://sms4smile.com/quotes/erik-voorhees/you-cannot-have-an-asset-that-goes-up-in-price-1-every-month-or-1/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Bitcoin is open-source, global, and requires no permission from anybody, so thousands of entrepreneurs are gravitating in and building their vision.](https://sms4smile.com/quotes/erik-voorhees/bitcoin-is-open-source-global-and-requires-no-permission-from-anybody/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [The number of industries, communities, habits, traditions, and even interpersonal interactions that Bitcoin has the potential to revolutionize is massive.](https://sms4smile.com/quotes/erik-voorhees/the-number-of-industries-communities-habits-traditions-and-even/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [In the longterm for Bitcoin, Gox needed to go away.](https://sms4smile.com/quotes/erik-voorhees/in-the-longterm-for-bitcoin-gox-needed-to-go-away/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Bitcoin is very ideologically fulfilling, it's my form of political activism, but it's also a huge business opportunity.](https://sms4smile.com/quotes/erik-voorhees/bitcoin-is-very-ideologically-fulfilling-it-s-my-form-of-political/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Mt. Gox was a teachable moment for everyone in the Bitcoin community, and ShapeShift has innovated these problems out of the picture.](https://sms4smile.com/quotes/erik-voorhees/mt-gox-was-a-teachable-moment-for-everyone-in-the-bitcoin-community/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Like the Internet, Bitcoin will change the way people interact and do business around the world.](https://sms4smile.com/quotes/erik-voorhees/like-the-internet-bitcoin-will-change-the-way-people-interact-and-do/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [The value of Bitcoin is astronomical, but the price goes all over the place as a million buyers and sellers try to figure out…](https://sms4smile.com/quotes/erik-voorhees/the-value-of-bitcoin-is-astronomical-but-the-price-goes-all-over-the/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Unfortunately, slow and steady in any financial market is actually impossible.](https://sms4smile.com/quotes/erik-voorhees/unfortunately-slow-and-steady-in-any-financial-market-is-actually/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Credits in your PayPal account are really just USD-backed - they are not a unique currency themselves. Other 'digital currencies,' such as Facebook Credits,…](https://sms4smile.com/quotes/erik-voorhees/credits-in-your-paypal-account-are-really-just-usd-backed-they-are/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Most 'digital currencies' are not really digital currencies at all.](https://sms4smile.com/quotes/erik-voorhees/most-digital-currencies-are-not-really-digital-currencies-at-all/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [ShapeShift has no user accounts, signup, or registration process whatsoever. But it's faster and far more convenient than traditional exchanges.](https://sms4smile.com/quotes/erik-voorhees/shapeshift-has-no-user-accounts-signup-or-registration-process/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) [Explore all 27 Erik Voorhees quotes ](https://sms4smile.com/quotes/author/erik-voorhees/) ## More Bitcoin quotes > [The bitcoin network is not a payments network and it is not a scaling network.](https://sms4smile.com/quotes/sam-bankman-fried/the-bitcoin-network-is-not-a-payments-network-and-it-is-not-a-scaling/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [I had been exposed to bitcoin early. I thought the consumer application of it felt, to me, further away. I thought there would be…](https://sms4smile.com/quotes/brad-garlinghouse/i-had-been-exposed-to-bitcoin-early-i-thought-the-consumer/) [Brad Garlinghouse](https://sms4smile.com/quotes/author/brad-garlinghouse/) > [In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the…](https://sms4smile.com/quotes/steve-hanke/in-2008-bitcoin-was-mysteriously-introduced-to-the-world-in-an/) [Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/) > [We need to come up with use cases for this technology that drive clear benefits for individuals and institutions - these are our customers.…](https://sms4smile.com/quotes/abigail-johnson/we-need-to-come-up-with-use-cases-for-this-technology-that-drive/) [Abigail Johnson](https://sms4smile.com/quotes/author/abigail-johnson/) > [Sir Richard Branson started out as a small business owner and now owns a conglomerate that will give you a ride to the moon.…](https://sms4smile.com/quotes/perianne-boring/sir-richard-branson-started-out-as-a-small-business-owner-and-now/) [Perianne Boring](https://sms4smile.com/quotes/author/perianne-boring/) > [Exchanging bitcoin on behalf of ransomware victims should not be construed as criminal activity by the exchanger, not as a matter of law nor…](https://sms4smile.com/quotes/perianne-boring/exchanging-bitcoin-on-behalf-of-ransomware-victims-should-not-be/) [Perianne Boring](https://sms4smile.com/quotes/author/perianne-boring/) > [Until part of your paycheck is regularly paid in Bitcoin, I'm not sure how it would really go mainstream. I can imagine places in…](https://sms4smile.com/quotes/gavin-andresen/until-part-of-your-paycheck-is-regularly-paid-in-bitcoin-i-m-not-sure/) [Gavin Andresen](https://sms4smile.com/quotes/author/gavin-andresen/) > [Calling bitcoin volatile - it's a non-statement. Unregulated assets with unclear regulatory landscapes are always going to be volatile. That's what unregulated assets do.](https://sms4smile.com/quotes/tyler-winklevoss/calling-bitcoin-volatile-it-s-a-non-statement-unregulated-assets-with/) [Tyler Winklevoss](https://sms4smile.com/quotes/author/tyler-winklevoss/) > [We see bitcoin as potentially the greatest social network of all.](https://sms4smile.com/quotes/tyler-winklevoss/we-see-bitcoin-as-potentially-the-greatest-social-network-of-all/) [Tyler Winklevoss](https://sms4smile.com/quotes/author/tyler-winklevoss/) > [As the platform and protocol become more ingrained in society, get built into products and services, and basically become more of the mesh of…](https://sms4smile.com/quotes/barry-silbert/as-the-platform-and-protocol-become-more-ingrained-in-society-get/) [Barry Silbert](https://sms4smile.com/quotes/author/barry-silbert/) > [Bitcoin is not “unregulated”. It is regulated by algorithm instead of being regulated by government bureaucracies. Un-corrupted.](https://sms4smile.com/quotes/andreas-antonopoulos/bitcoin-is-not-unregulated-it-is-regulated-by-algorithm-instead-of/) [Andreas Antonopoulos](https://sms4smile.com/quotes/author/andreas-antonopoulos/) > [The rudest possible gift is a gift card. It means you think the person is stupid and has no interests. The only good gift…](https://sms4smile.com/quotes/john-waters/the-rudest-possible-gift-is-a-gift-card-it-means-you-think-the-person/) [John Waters](https://sms4smile.com/quotes/author/john-waters/) > [If the U.S. government tries to restrict or clamp down, that just means there will be many more bitcoin businesses in Hong Kong and…](https://sms4smile.com/quotes/roger-ver/if-the-u-s-government-tries-to-restrict-or-clamp-down-that-just-means/) [Roger Ver](https://sms4smile.com/quotes/author/roger-ver/) > [What bitcoin does better than the current financial system is it's a better stored value globally. There are a lot of countries that really…](https://sms4smile.com/quotes/adam-draper/what-bitcoin-does-better-than-the-current-financial-system-is-it-s-a/) [Adam Draper](https://sms4smile.com/quotes/author/adam-draper/) > [You really want some natural way for people to get Bitcoins, as part of their paycheck or some other activity so they can turn…](https://sms4smile.com/quotes/gavin-andresen/you-really-want-some-natural-way-for-people-to-get-bitcoins-as-part/) [Gavin Andresen](https://sms4smile.com/quotes/author/gavin-andresen/) [Browse all 364 Bitcoin quotes ](https://sms4smile.com/quotes/about/bitcoin/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Digital currency is now a misnomer for Bitcoin. 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