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Inflation, DAO, Official: Buterin Deconstructs Crypto’s Evolving Lexicon

source-logo  coinedition.com 30 May 2024 12:55, UTC

Ethereum co-founder Vitalik Buterin has taken to the social media platform Warpcast to highlight how the crypto community is reshaping the use of certain English words and acronyms. In a recent post, Buterin noted that in the crypto space, “DAO” often means “project,” and “official” can sometimes mean “scam.”

Buterin framed changing the meaning of these words as part of a broader cultural phenomenon. According to him, it is a key part of the process where different cultural spheres can use the same word in unrelated ways, citing examples from most European languages where “actual” means “current,” and “concurrency” means “competition.”

Notably, Buterin’s recent language comments followed an earlier debate where the Ethereum co-founder suggested that the crypto community has redefined “inflation” to mean an “uncapped total supply” of currency. According to Buterin, they have diverged the meaning from its traditional economic definition.

In the “inflation” debate, Buterin argued against an assertion from an Axios post, suggesting an evolution in the meaning of inflation. According to the post, what used to mean “rising prices” has changed, as those using the term apply it to mean “high prices.”

In his argument, Buterin thinks the crypto community has already “claimed the right to butcher” the word inflation. He noted that for crypto community members, inflation means an “increase in the total supply of a currency.”

Most respondents to Buterin’s post about “DAO” and “official” consider it a “tongue-in-cheek” statement, implying the Ethereum co-founder was sarcastically addressing developments in the crypto industry. Many acknowledged the blockchain expert’s tone but sought clarification to know if he was only joking or trying to communicate a message.

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