All crypto-currencies are based on distributed Ledger technology. Meaning they are glorified databases that are all linked together or chain together so to speak. All that money is is a system of accounting of keeping track of some value that is given or received in exchange for some good or service. Money in today's world does not have to be backed by anything hence it's called Fiat. Private central banks get their legitimacy to create money out of thin air from their respective governments. Since it is all created out of thin air anyways what's to stop others from creating their own money out of thin air and using that amongst themselves P, peer-to-peer? Bitcoin started off as just a currency that was exchanged among those who are involved in computer programming and coding industry. Once those users began using that currency to exchange real life Commodities such as pizza, it broke through to the real world and began to be exchanged for fiat currency of the private central banks. All Cookeville currencies have value only because the users of them perceive that they have value. So it is in the same case as money that we call money anyways. Some crypto-currencies start with a bang and then shrivel up and die on the vine others stick around and flourish. The difference between those that flourish and those that die is traction. To gain traction means you need to gain in popularity and use outside of that particular system. I'm text typing this by speaking into my phone so if the grammar and The Styling is off I apologize. I hope this answers your question.
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