4 ms·
Their cryptocurrency FAQ is comical at times: > How do cryptocurrencies work? All transactions are done on the internet. Each unit of cryptocurrency is made u
by tromp 5y ago
Their cryptocurrency FAQ is comical at times:
> How do cryptocurrencies work?
All transactions are done on the internet. Each unit of cryptocurrency is made up of a unique computer codes that can be bought and sold.
> Who runs cryptocurrencies?
Instead of a central (or national) bank there are thousands of IT experts, known as ‘miners’, whose job is to verify transactions and release more crypto-coins into the market. The Bitcoin miners use a system called blockchain.
They are sustained by their users, who believe the value of their digital currencies will increase (or at least remain the same).
- artfulhippo 5y agoSeems like a good ELI5 (or 75) to me.
- deleted 5y ago[deleted]
- elliekelly 5y ago“IT experts” is a pretty generous description.