Cryptographically mined currency is backed by the carbon effort consumed in producing it.
The value is secured across multiple computers, constantly updating and verifying the Ledger, this is called "blockchain".
Bitcoin has a finite supply that cannot be artificially increased, which is why its value (compared to fiat) has only increased since its inception, if you zoom out.
It is humanity's primary weapon against the central bank system, and any individual 's lack of understanding of it doesn't affect its significance
And When you are ready:
Here is where you can find everything discussed from the most basic crypto concepts to very esoteric, deep discussions of the inner workings of crypto.
Can someone explain to me how Crypto of any sort is not a digital currency? What is it tangibly backed by?
Cryptographically mined currency is backed by the carbon effort consumed in producing it.
The value is secured across multiple computers, constantly updating and verifying the Ledger, this is called "blockchain".
Bitcoin has a finite supply that cannot be artificially increased, which is why its value (compared to fiat) has only increased since its inception, if you zoom out.
It is humanity's primary weapon against the central bank system, and any individual 's lack of understanding of it doesn't affect its significance
Patriot, I'm thinking about getting into crypto sooner than later...can you point me in the direction of a few "Crypto for Dummies" resources?
Here is something to get you started
How Does Cryptocurrency Work? A Beginner's Guide
https://www.coursera.org/articles/how-does-cryptocurrency-work
And When you are ready: Here is where you can find everything discussed from the most basic crypto concepts to very esoteric, deep discussions of the inner workings of crypto.
https://bitcointalk.org/
Thanks Plutus..