Think of it as the crypto equivalent of the “get off my lawn” meme.
When the American Association of Retired Persons came out this week with a glossary of Wall Street buzzwords, this one, in particular, stood out:
“Bitcoin — A bunch of computer code that a bunch of criminals, idealists and speculators agree is worth ‘real’ money. Sadly, its real-money value swings widely, making it impractical except for criminals, idealists and speculators.”
On Twitter, the reaction from crypto fans was about what you’d expect.
Laughable definition of #bitcoin. Someone at #AARP didn’t do their homework. I wonder how they defined the #internet in 1995 https://t.co/0KM5Ez1p2p
— Health Unchained (@Healthunchaind) October 10, 2018
@AARP advises against Bitcoin. They also probably think social security and fiat money is sustainable ?♂️ https://t.co/yDEAFQasbu
— Carl (@C_as_in_Carl) October 10, 2018
Then this alternate bitcoin definition was offered up:
imagine if keeping your car idling 24/7 produced solved Sudokus you could trade for heroin
— the andychrist (@Theophite) August 16, 2018
AARP, with its 38 million members, wasn’t done throwing shade at cryptocurrencies. Here’s one of its definitions for blockchain: “A word often uttered by companies hoping to snare investors’ attention — and dollars.”
To be fair, AARP wasn’t just picking on cryptos and blockchain. The whole piece was a bit cheeky. For instance, the author explained that the “penny” in penny stocks “once referred to the low prices of such stocks, but more frequently it predicts your investment’s full value down the line.”
As for bitcoin
, the world’s largest digital currency was trading at $6,531 on Wednesday, down 1%, just like the Dow Jones Industrial Average
, which was shedding more than 300 points.
Read: Now’s not the time to increase your bitcoin exposure