Cyberspace, as a word, caught on because it is immensely descriptive and intelligent. Cyber comes from cybernetics, which comes from the greek word kubernetes, meaning governor. So, cyberspace is the “governor of space”, which describes very well how a collection of processes control world communications.
Cyberspace has not expanded or shrunk; it simply has more access points than it had 37 years ago, that’s all. It’s still not a physical space, it’s intangible, but it has succeeded in shrinking the Earth. (Life's Weirder Than Fiction)
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