Daily Vocabulary Builder – The Indian Express Editorial with Vocabulary
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The Indian Express Editorial with Vocabulary: Coin of vantage
Bit by bit, the world’s leading cryptocurrency has been going mainstream, in ways that its pseudonymous creator or creators, identified as Satoshi Nakamoto, would not approve of. On Sunday, the first-ever Bitcoin future began to trade on the Chicago Board Options Exchange. Bitcoin is on a bull run, having appreciated 16 times over this year, and futures speculators will try to short it, exposing the currency to unanticipated pressures. The Chicago Mercantile Exchange will start trading Bitcoin futures on December 18 and last week, Bank of America was granted a patent for a cryptocurrency exchange system for businesses. These are attempts to fit Bitcoin into the formal financial system, exactly what it was designed to avoid.
Bitcoin was a radical political intervention which has rapidly turned into one more financial instrument, now fully deployed with a derivatives market. It was launched in 2009 out of disgust for Wall Street bailouts, as a peer-to-peer payments system built on privacy, and immune to the artificial forces that affect fiat currencies —tinkering by central banks and ideologies of politicians. But efforts began immediately to absorb the disintermediated Bitcoin into the bank-mediated system it was supposed to bypass, with the establishment of coin exchanges, Mt Gox being the best known — for going belly up. The cryptocurrency flourished on the “dark web” inaccessible to normal browsing, and gained notoriety for being used to pay for illicit pornography, weapons and drugs. But even there, it was disintermediated by traditionally structured escrow services, which should have been legacy.
And now, thanks to the massive appreciation seen by Bitcoin this year, the banking system and markets want a piece of the action. A currency created specifically for anonymous payments has become just another market instrument, and is probably forming a gigantic bubble. In the case of a fiat currency, depositors and investors would look to banks and other fee-collecting intermediaries to police the system and cushion the shock of volatility. But since Bitcoin is designed to cut them out, they have no responsibility and may simply leave Bitcoin owners to the mercy of market forces. Satoshi Nakamoto, who wrote the Bitcoin code, mysteriously disappeared from the internet in 2011 and probably isn’t around to help. As a payment system, Bitcoin has a disappointingly small footprint. As a financial instrument, it has just turned into a vehicle for an electronic gold rush accelerating towards a terrific crash.
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The Indian Express Editorial with Vocabulary
1. Pseudonymous (adjective) उपनाम से लिखनेवाला / छद्मनामी : Having or using a false or assumed name, writing or written under a false name.
Synonyms: Fake, false, fictitious, artificial, spurious.
Antonyms: Real, actual, original, unidentified, undesignated.
Example: The only writer identified in the book by full name is the author; the other 18 are probably pseudonymous accompanied by a rough bios mostly outlining their personalities.
2. Unanticipate (adjective) अप्रत्याशित : Not anticipated; unforeseen
Synonyms: Precipitous, unceremonious, unexpected, sudden.
Antonyms: Expected, foreseen, predicted, gradual, deliberate.
Example: Every day she found some new purpose in her life to excite her in some unanticipated manner.
3. Intervention (noun) हस्तक्षेप करना/ बीच में पड़ना :Any interference in the affairs of others, esp by one state in the affairs of another.
Synonyms: Interference, interruption, intrusion
Antonyms: Exasperation, non-interference.
Example: Their intervention comes at a critical time.
4. Tinkering (verb) फेरबदल/ सुधारने की कोशिश करना: Attempt to repair or improve something in a casual or desultory way, often to no useful effect.
Synonyms: Fiddle with, adjust, fix, try to mend, play about with, fool with, futz with, tamper with, interfere.
Antonyms: Neglecting, ignoring.
Example: I had a brief tinker with my blog template earlier, really to just try and figure out which lines relate to which part of the screen.
5. Flourished (verb) विकास पाना / महत्त्व दिखलाना/ आडंबर दिखाना : (of a person) wave (something) around to attract the attention of others
Synonyms: Thrive, prosper, bloom, be in good health, be vigorous, be in its heyday, progress, make progress, advance.
Antonyms: Languish, shrive, decrease, lessen.
Example: There was a final flourish in the last seconds of stoppage time.
6. Notoriety (noun) बदनामी/ कुख्याति: The state of being famous or well known for some bad quality or deed.
Synonyms: Infamy, disrepute, ill repute, bad name, dishonor, discredit, ill fame.
Antonyms: Anonymity, decency, oblivion.
Example: The anarchist thrust is most effective in recovering those overtaken by fame (or notoriety) of a different kind.
7. illicit (adjective) अवैध / अनुचित: Not allowed or approved by common custom, rule, or standard.
Synonyms: illegal, unlawful, illegitimate, criminal, felonious, outlawed, banned, forbidden, prohibited,
Antonyms: Legal, licit, legitimate
Example: Many local councils have also cut back on control work, such as cracking down on the illicit tobacco trade.
8. Cushion (noun) गुंजाइश / किसी बुरे प्रभाव को )नरम करना : Something resembling a cushion in function or appearance, esp one to support or pad or to absorb shock.
Synonyms: Protection, shock absorber, shield, lessen, soften
Antonyms: Aggravate , agitate , annoy
Example: Each shot must always hit the lowest numbered ball on the table first and then pocket a ball or make two balls reach a cushion.
9. Terrific (noun) भयानक / दिल दहलानेवाला: Causing great fear or dismay; terrifying; dreadful; appalling.
Synonyms: Marvelous, wonderful, sensational, outstanding, great, superb, excellent, first-rate, first-class.
Antonyms: Insignificant, moderate, unimportant, pleasant, miniature.
Example: You can imagine with the hotel sweeping across opposite the pavilion side it will look terrific.
Source: ( The Indian Express Newspaper)
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