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Your opinion on Cryptocurrencies !

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First of all, what is a Cryptocurrency ?


Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. To put that in plain words a cryptocurrency (Ex: Bitcoin) is an electronic cash system that uses peer-to-peer network to prevent double-spending. It is 100% and completely decentralized, meaning that it uses no server to send or receive transactions, nor does it have a central authority.

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What are Cryptocurrencies really?

If you take away all the noise around cryptocurrencies and reduce it to a simple definition, you find it to be just limited entries in a database no one can change without fulfilling specific conditions. This may seem ordinary, but, believe it or not: this is exactly how you can define a currency.

For example : The money in your bank account: What is it more than entries in a database that can only be changed under specific conditions? You can even take for example physical coins and notes: What are they else than limited entries in a public physical database that can only be changed if you match the condition than you physically own the coins and notes? Money is all about a verified entry in some kind of database of accounts, balances, and transactions.


The transaction is known almost immediately by the whole network. But only after a specific amount of time it gets confirmed.


Confirmation is a critical concept in cryptocurrencies. You could say that cryptocurrencies are all about confirmation.


As long as a transaction is unconfirmed, it is pending and can be forged. When a transaction is confirmed, it is set in stone. It is no longer forgeable, it can‘t be reversed, it is part of an immutable record of historical transactions: of the so-called blockchain.


Revolutionary properties !

If you really think about it, Bitcoin, as a decentralized network of peers which keep a consensus about accounts and balances, is more a currency than the numbers you see in your bank account. What are these numbers more than entries in a database – a database which can be changed by people you don‘t see and by rules you don‘t know?


I want you guys to post your opinions about cryptocurrencies and how do you think it will impact the world and the global economy in the near and distant future.




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Edited by Pixel-In

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without a good rig, its a waste of time.

me and my friends used 90 pc of school and made up to 170$ per week. but we almost got caught and we had to abandon all the profits. 
we kept those running for months in row without even checking the profits.. It was 3 years ago, now the profits would be x8 times bigger. but now its even harder to get

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