I also don’t understand it. So someone set up a company for digital currency and sets a limit of how many coins their algorithm will produce. So miner computers start mining these carbon coins and a value is placed on it. How does the price go up when more coins are mined that would I think make value go down until all of them are mined and the coin is accepted everywhere to purchase things. Also how do you limit how many digital currencies can be developed? Is it not gonna end up like all the currencies in the world and have to have a way to transfer from one to the other for purchasing powers? Like I would have to have a wallet for each different curry or is there going to be one currency that everyone has to use and if no one is able to mine anymore and no one will sell any of theirs then people who spent all theirs or can’t mine anymore are screwed. That’s no better than the elites making money and laundering it back to themselves to buy assets that are of value and common people can’t get that kind of cash freely to buy assets. I’m so confused on the whole digital cause like people ask about power outages or emp events but what about rural areas with very little if any cell service and you can’t get on the internet how you gonna buy something when you can’t access your digital wallet? I don’t seem to have the intelligence to understand DC no matter how much o read
i'm with you. if it's digital then we will need electric on constantly. any black outs and we are all screwed. and what about hackers? if our SS#'s aren't safe, our bank accounts aren't safe, credit cards, etc., how is bitcoin going to be safe?
Can someone explain to me how Crypto of any sort is not a digital currency? What is it tangibly backed by?
i'm with you fren, i'm not understanding how crypto is safer.
I also don’t understand it. So someone set up a company for digital currency and sets a limit of how many coins their algorithm will produce. So miner computers start mining these carbon coins and a value is placed on it. How does the price go up when more coins are mined that would I think make value go down until all of them are mined and the coin is accepted everywhere to purchase things. Also how do you limit how many digital currencies can be developed? Is it not gonna end up like all the currencies in the world and have to have a way to transfer from one to the other for purchasing powers? Like I would have to have a wallet for each different curry or is there going to be one currency that everyone has to use and if no one is able to mine anymore and no one will sell any of theirs then people who spent all theirs or can’t mine anymore are screwed. That’s no better than the elites making money and laundering it back to themselves to buy assets that are of value and common people can’t get that kind of cash freely to buy assets. I’m so confused on the whole digital cause like people ask about power outages or emp events but what about rural areas with very little if any cell service and you can’t get on the internet how you gonna buy something when you can’t access your digital wallet? I don’t seem to have the intelligence to understand DC no matter how much o read
i'm with you. if it's digital then we will need electric on constantly. any black outs and we are all screwed. and what about hackers? if our SS#'s aren't safe, our bank accounts aren't safe, credit cards, etc., how is bitcoin going to be safe?