Cryptocurrency

From Everything.Sucks

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. It typically does not exist in physical form (like paper money) and is typically not issued by a central authority. Cryptocurrencies typically use decentralized control as opposed to centralized digital currency and central banking systems. When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.

A user shared this in a review "It's true that some people have made money, a lot of money with Cryptocurrency but for all the stories of people who made a lot of money, the stories you don't hear about are people who have lost a lot of money. It doesn't help that there is an industry built around promoting this. If you see somebody online talking about making a lot of money in cryptocurrency, it's safe to assume they don't know how to do it because if they did, they would be spending their time and resources with cryptocurrency instead of trying to sell some scheme on the Internet. Purchasing cryptocurrency is not an investment. It's speculation. People think that they can simply purchase cryptocurrency and make money. What they don't realize is that there are a lot of people who are already well vested and well-versed in the subject so it's naïve to think a beginner can jump right in and compete with these people and make money."