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Do you see cryptocurrencies as a viable, financial option for the future?



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1 Answer

A Cryptocurrency is an entry into a computer which is the same as an entry into your bank account. The only difference is that everyone is using debit and credit cards to transact instead of using cash and coins. Debit and credit cards are more convenient. Faster. More efficient. Just like an EZ Pass saves you from sitting in a line on a hot day waiting to pay a toll, Cryptocurrencies saves you from running to an ATM and getting cash and making the change, etc.
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Every cryptocurrency has its own blockchain, and computers doing complex math in a large network maintain it. There are many countries where the traditional services of money in financial options are inadequately supplied, bitcoin (and cryptocurrencies more generally) may offer viable alternatives and in this circumstances, cryptocurrencies should be thought of as assets similar to gold or other metals to be viable.
Many people believe that bitcoin is too riddled with problems to be the cryptocurrency upon which the future is built. First, it likely can’t be used on a national scale because of how few transactions per minute bitcoin supports.

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