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The main difference is that only the central authority can produce a penny. In the case of cryptocurrency everyone is entitled and able to produce it. So there
by cateye 8y ago
The main difference is that only the central authority can produce a penny.
In the case of cryptocurrency everyone is entitled and able to produce it. So there is direct competition and open market for creating "coins".
Would you pay $7300 for a bitcoin if you can produce it yourself for $1? Or why would not someone sell it for $5? At the moment, the price for producing a bitcoin is very close to the market or exchange value.
- mancerayder 8y agoWould you pay $7300 for a bitcoin if you can produce it yourself for $1? Or why would not someone sell it for $5? At the moment, the price for producing a bitcoin is very close to the market or exchange value. How does that figure given timeframe? Are you somehow calculating equipment initial cost and electricity in an estimate? Over how long?