What is Cryptocurrency?
You might be asking your self what is cryptocurrency and why are people talking about it. In essence it is a purely electronic or digital asset like gold, silver, a stock or cold hard cash.
I wish that I had been clued into what a Cryptocurrency 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 cryptocurrency ask yourself what is a Stock?
We all under stand 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.
In the past years bitcoin has captured the marketplace of Cryptocurrency and is the big boy on the block. It has answered the question of what cryptocurrency 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 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 cryptocurrency 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 Etherium, which of course has become one of the bigger cryptocurrency coins out there.
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