LogFAQs > #952198891

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Topic	Cryptocurrency is amazing. Can't wait for the day that it's mainstream
1337toothbrush 03/28/21 4:32:52 AM #29:	samurai bandit posted... This is the value. The difference is that normal people can do it now instead of just privileged corporations or individuals. That's the point of a decentralized world. Do what? Rob Cesternino posted... You've heard of blockchain, I assume? Bitcoin and crypto are built on top of a blockchain, which is like an open database that uses lots and lots of encryption for its transactions. With blockchain, you can prove that a transaction went from point A to point B without a middleman. In normal finance, you have your bank as the middleman to prove that you paid your friend money that you owe him for lunch. Imagine if you could pay your friend electronically without the need of a middleman. The money would not go through any bank, financial institution, or government. You could send it to him anywhere in the world anonymously. What's so bad about a bank, you say? Well think about the 2008 financial crisis. It happened because the banks got greedy, and the whole world economy almost collapsed. Think about all the money the Fed is printing right now and how it will lead to hyperinflation. With Bitcoin, none of that will happen because the software guarantees there will only ever be 21 million coins in circulation. In summary, having crypto means that for the first time in human history we can possibly destroy the banks. Think about how many times bitcoin has crashed. --- https://gamefaqs.gamespot.com/boards/261-politics/78252375/931554955 https://imgur.com/a/FU9H8 - https://imgur.com/ZkQRDsR - https://imgur.com/2x2gtgP <cite>1337toothbrush posted [p:952198891] in Cryptocurr... [t:79369882]...</cite> <quote>samurai bandit posted... </cite> <quote>This is the value. The difference is that normal people can do it now instead of just privileged corporations or individuals. That's the point of a decentralized world.</quote>Do what? Rob Cesternino posted... </cite> <quote>You've heard of blockchain, I assume? Bitcoin and crypto are built on top of a blockchain, which is like an open database that uses lots and lots of encryption for its transactions. With blockchain, you can prove that a transaction went from point A to point B without a middleman. In normal finance, you have your bank as the middleman to prove that you paid your friend money that you owe him for lunch. Imagine if you could pay your friend electronically without the need of a middleman. The money would not go through any bank, financial institution, or government. You could send it to him anywhere in the world anonymously. What's so bad about a bank, you say? Well think about the 2008 financial crisis. It happened because the banks got greedy, and the whole world economy almost collapsed. Think about all the money the Fed is printing right now and how it will lead to hyperinflation. With Bitcoin, none of that will happen because the software guarantees there will only ever be 21 million coins in circulation. In summary, having crypto means that for the first time in human history we can possibly destroy the banks.</quote>Think about how many times bitcoin has crashed. --- https://gamefaqs.gamespot.com/boards/261-politics/78252375/931554955 https://imgur.com/a/FU9H8 - https://imgur.com/ZkQRDsR - https://imgur.com/2x2gtgP</quote> ... Copied to Clipboard!
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