Cryptocurrencies are changing the world

Originally Posted by unpinkpanther

...It is complex stuff!

I understand a currency to be a medium of exchange to make transactions easier.

Why should I use a cryptocurrency instead of good ol' cash?

That's the part I don't get.

It's easy not to understand. Most people don't know that the phrase "full faith and credit" is nothing more than a ruse. The government has NO source of value. Only people do. That means you are the backing for your currency. Look at Cyprus just to name one country in the news because of their finances.

Suppose you had money in a Cyprus bank and suppose you had Bitcoin. Which do you think the Cyprus government could/would take from you?

Which currency held its value in the world market?

If I understand correctly you are from Nigeria. What backs your cash?

That's a short and sweet answer. If I were inclined I'd educate myself on the blockchain technology. From what I read, the techie types w/knowledge of the programs/codes in this area are in demand and get paid accordingly.

Trouble is at 72 if it isn't handed to me I don't want it