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Thu Sep 9, 2021, 07:12 PM

What is Cryptocurrency?

I still don't understand it. But for those with an interest, this explanation from Goldman Sachs is as detailed as I've seen:

https://www.marcus.com/us/en/resources/personal-finance/what-is-cryptocurrency

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Reply What is Cryptocurrency? (Original post)
Tomconroy Sep 9 OP
paleotn Sep 9 #1
Lulu KC Sep 9 #2

Response to Tomconroy (Original post)

Thu Sep 9, 2021, 07:21 PM

1. A way to transfer value for nefarious purposes.

Tailor made for money laundering, extorsion and various forms of smuggling. Outside of that, it has no more utility than greenbacks, euros or yen.

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Response to Tomconroy (Original post)

Thu Sep 9, 2021, 07:50 PM

2. And it uses a diabolical amount of electricity

There was an article about in Sunday's NYT. I still don't get what it is, but I know it's bad for our planet.

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