What is Crypto-currency?
You might be asking yourself what is crypto-currency and why are people talking about it. What should I know about bitcoin, crypt-o or cyber currency? In essence it is a purely electronic or digital asset. Originally formed to be purely used online and decentralized so that no government would have control. You can not transfer any other form of currency digitally as easy account to account.
I wish that I had been clued into what a Crypto-currency is when bitcoin was new, it is really genius because of its encryption and the Mining or Computing Verification of the transaction on to digital record or block chain of the bitcoin.
To answer what is crypto-currency ask yourself what is a Stock? Unlike like gold, silver, platinum or jewels it does not have intrinsic value but they all can be traded for money. Crypto-currency is more like a stock or bond but in other ways it acts just like money because you can not use a stock to pay for something online.
We all understand what money is and that is learned because we have lived with using it all our lives but what is it worth? Is $1 today worth what it was 20 years ago? On the same note Apple stock is not worth what it was 10 years ago. 10 years ago you could have bought 1000 bitcoin for less than $1.
What is Crypto-currency and what can it become?
In the past years bitcoin has captured the marketplace of Crypto-currency and is the big boy on the block. It has answered the question of what crypto-currency can be. Today 1. Bitcoin is worth what that counter on this site says it is. When I found bitcoin it fluctuated daily between $220-$250, see it is bought and sold all over the world on exchanges. It is also accepted by websites all over the world, there are no limits with its ease of transfer. Being Decentralized and not controlled by a government it can not be manipulated by financial institutions.
The banks and our governments have had there own Electronic or crypto-currency for years. That is why a run on the banks is such a great concern, there is not enough printed money to represent the money in the checking accounts of the people in the US. Do you see how you have been living with Digital Currency for years?
Now there are several types of crypto-currency coins out there and you can even make your own off of the same technology that Bitcoin is designed from. Microsoft last year sold off any bitcoin they had and created there own coin Ethereum, which of course has become one of the bigger crypt-o-currency coins out there.
Hey you are not to late to jump on the train that will continue to run regardless of government interference best part is you can start collecting Bitcoin and other Cryptocurrency for free.
Bitcoin is about to hit its all time high of $1200. Us dollars and it will not slow down I continue to see results from my bitcoin collecting efforts, and love that the bitcoin and other coins I have collected continue to increase in value.