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Some cryptocurrencies employ a consensus mechanism that uses computational power and large amounts of energy to verify and validate transactions.
Mining farms requires massive amounts of energy.
Blockchain technology. It is a distributed database secured with encryption techniques and technology that is very difficult to break.
The encryption, linked blocks, and consensus mechanisms make it impossible to change information in the blockchain to steal
Do you remember when the internet, computers, and email were only of interest to a small group of IT geeks? You're probably using it right now.
This technology will likely continue to be developed and refined.
Cryptocurrencies are new, whereas Fiat currencies have been in use for centuries. This would require a large number of people to adopt it. It may occur once value and purchasing power are established.
Fiat currencies are not easily given up by governments d...
Whether cryptocurrency is safe or not depends on your perspective
Cryptocurrency is still in its price discovery phase where an asset fluctuates until its value is established by supply and demand.
The IMF defines money as a store of value, unit of account, or medium of exchange that is widely accepted and can be translated into prices.
The FINRA defines cryptocurrency as a digital representation of a stored value through cryptography.
Most cryptocurrencies have no programming, code, or malicious artificial intent that works to take money from you.
People have created scams steal your cryptocurrency or money. For example:
2021 data of Chainalysis:
Most cryptocurrency transactions are conducted with legitimate and legal intentions.
Value is a subjective concept. a person, community, or society may place value on an object that another puts in the recycle bin.
This is a great example:
Bolivian 🇧🇴 Engineering student ⚡⚙️
Because cryptocurrencies have grown in popularity in recent years, it is critical to be well informed on these new themes.
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Generally speaking, taxable events include:
While some cryptocurrencies, including Bitcoin, are available for purchase with U.S. dollars, others require that you pay with bitcoins or another cryptocurrency.
To buy cryptocurrencies, you’ll need a “wallet,” an online app that can hold your currency. Generally, you create an account on ...
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