I’ve read about the mining part before trying to understand it better but it doesn’t make a whole lot of sense to me. I can accept that part without understanding it fully. The problem with it for me is when you have too many criminals doing nefarious things involving Crypto, it kills its legitimacy for average investors in my opinion. It just looks like a Ponzi scheme to most people like FTX turned out to be.
Crypto=Money invented out of thin air. Like the FED.
It's literally not; Bitcoin is backed by the amount of carbon utilized to mine it, with a fixed supply.
Mined from where to produce what usable product?
Mined by solving cryptographic equations to prove originality to generate unique tokens that can be exchanged for anything.
The first thing mankind wrote down when inventing writing was a ledger.
Just because you don't understand something doesn't affect it's legitimacy.
Bitcoin was literally invented to be the antidote to the central bank system after the 2008 bankers bailouts.
I’ve read about the mining part before trying to understand it better but it doesn’t make a whole lot of sense to me. I can accept that part without understanding it fully. The problem with it for me is when you have too many criminals doing nefarious things involving Crypto, it kills its legitimacy for average investors in my opinion. It just looks like a Ponzi scheme to most people like FTX turned out to be.