Topic: What are cryptocurrencies really? (Read 196 times)
They're digital currency. Can pay with them online instead of using cash or credit and pay anoymously
these are limited entries in a database no one can change without fulfilling specific conditions. This may seem ordinary, but, believe it or not: this is exactly how you can define a currency.
I'm not buying bitcoin right now, I personally think it's not the best moment now... But overall, I would say that crypto is the future of currencies... it's transparent, fast transactions... it is what our economy will be... and it's smart to join it right now
Given value through people's interest and through electricity spent during mining
Believe u or not: ordinary money is only a colored paper...
I'm sorry, but likening fiat currency to cryptocurrency is just stupid. The value of fiat currencies are supported by a monsterous amount of variables, whereas cryptocurrency is merely supported by... Whoever supports them.
People have argued that the value of cryptocurrency has to do with total supply, but I'd argue that it's more to do with demand (driven by support). For example, I think Litecoin has maybe about a 17% difference in total supply compared to Bitcoin, yet Bitcoin is valued far higher. It's all about popular support.
Believe u or not: ordinary money is only a colored paper...
these are limited entries in a database no one can change without fulfilling specific conditions. This may seem ordinary, but, believe it or not: this is exactly how you can define a currency.
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