Bitcoin article

cryptocurrency

digital currency, using encryption techniques to regulate units of currency and verify transferal of funds. Operate independently of a central bank.

inception

beginning/start
ísl: upphaf

bubble

an economic growth that is extremely good for a short period of time (may then burst)
ísl: bóla

sidestep

avoid
ísl: forðast

encrypted

coded to prevent unauthorized access to it
ísl: dulkóðað

a medium of exchange

a currency (represents a value)
ísl: skiptimiðill

boom and bust tendencies

highs and lows

to surge

to rise/incline rapidly
ísl: að stækka

wipe out

destroy completely
ísl: útrýma

cautionary

warning somebody to be careful

a vehicle for something

something they can use

scammer

a dishonest person

crook

criminal

anarchism

the belief that there should be no government or laws
ísl: stjórnleysi/stjórnleysisstefna

for good measure

in addition to what has already been done or said/ a way of making something complete or better

parallel

similar to
ísl: líkt

banknote

a note that promises to pay a stated sum to the bearer on demand

monopoly

the exclusive possession or control of supply or trade in commodity (product) or service.

sweeping

wide-raging/ having a major effect

The Financial Conduct Authority

Fjármálaeftirlitið

akin to

similar to

central banks

Seðlabankar

blockchain

a digital database containing information that can be simultaneously used and shared within a large, decentralized, publicly accessible network
ísl: bálkakeðjur

asset

an item of property

utility

something useful or profitable

held in high regard

respected and valued

had been shot

gotten rid of

burned

lost money, suffered a loss

speculative investment

high-risk investment with the purchaser being more interested in price fluctuations than fundamental/real value

niche asset

very specific benefit for a small number of people or a small area of trade within the economy