Cryptocurrency. You have definitely heard this term before.
Electronic money? Yes. But cryptocurrency cannot be equated to money in Paypal or funds on cards. Currency? Yes. But cryptocurrency is not regulated by the Central banks, and its rate does not depend to the economy
What is cryptocurrency?
Cryptocurrency is a type of digital money based on cryptography technology. It does not have a physical appearance, but exists only in electronic form. Its main features are anonymity, decentralization and security.
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How cryptocurrency works
Most cryptocurrencies function and circulate on the blockchain. This is an open decentralized database where information about all transactions is recorded and stored. It is not located on any separate server or hard drive, but is divided into nodes.
How to use cryptocurrency
To use, for example, Bitcoin, you need to buy Bitcoin and open an online wallet. It is safest to store cryptocurrency offline on a special device in order to protect yourself from hacking and thefting your own funds.
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Scaling creates utility which over time creates value. Without scaling you can not actually do anything and I am at a loss to understand why you would have any value other than ponzi or other scammy reasons. The only tech that scales is original #Bitcoin#BSV.
1/3 The #Bitcoin economic model continues to prove extremely robust.
With hashrate continuing to hit ATHs I have looked closer at the miner economic model with back-of-envelope checks.
Can you believe that Bitcoin has settled $7 Trillion in value over its lifetime!
Is #bitcoin volatile? Yes. But let us look at it from a different point of a view.
2012 – $4
2013 – $65
2014 – $200
2015 – $185
2016 – $365
2017 – $780
2018 – $3200
A historic look at yearly lows reveals a bigger picture.