They basically work by having lots of people agree that they’re worth money. In other words, they’re exactly like any other form of currency. Minus the backing of someone with actual means and motivation to directly exchange them for goods and services that are worth obtaining.
I like the idea of cryptocurrency because it bypasses the “control” of banks/governments/etc, but, as we’ve been seeing, it’s too easy for hackers to steal…
I’ll start paying attention to the whole idea of “cryptocurrencies” when the people that think that they’re a wonderful idea start accepting them as “pay” for their day-job.
Adiraiju almost 7 years ago
They basically work by having lots of people agree that they’re worth money. In other words, they’re exactly like any other form of currency. Minus the backing of someone with actual means and motivation to directly exchange them for goods and services that are worth obtaining.
Egrayjames almost 7 years ago
When the bottom drops out of Bitcoins, and it surely will, there will be a lot of unhappy people.
Plods with ...™ almost 7 years ago
Isn’t bitcoin where you invest 12 cents to make a million $?
Willywise52 Premium Member almost 7 years ago
Some blockhead gave a guy the bird then got his asp kicked.
Phred Premium Member almost 7 years ago
Don’t forget the ‘bunch of baloney’ part.
johovey almost 7 years ago
Do what to who, now? I am lost. I guess I just don’t invest in what I can’t figure out. Walmart makes money – easy to invest in.
Happy, happy, happy!!! Premium Member almost 7 years ago
I saw a snake.
ChessPirate almost 7 years ago
I like the idea of cryptocurrency because it bypasses the “control” of banks/governments/etc, but, as we’ve been seeing, it’s too easy for hackers to steal…
cuzinron47 almost 7 years ago
What, no squirrel?
Liverlips McCracken Premium Member almost 7 years ago
I think he means “it’s all for blockheads.”
wellis1947 Premium Member almost 7 years ago
I’ll start paying attention to the whole idea of “cryptocurrencies” when the people that think that they’re a wonderful idea start accepting them as “pay” for their day-job.