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Ethereum caught my attention in 2020 due to the amount of interest the Russian government has in it. Countries like Russia, Venezuela, Iran, NK and more, love cryptocurrencies like Bitcoin as Bitcoin and many other cryptocurrencies aren't backed by anything and the transactions cannot be traced
Since you seem to have some knowledge about cryptocurrencies, can you tell me what makes Ethereum more or less desirable than Bitcoin? What is the main difference?Bohut jaldi khiyal nahi agaya apko? Chances are ETH may over take BTC, just 3 days back it its ATH ($1,470). Recent price ajustment to BTC suggest it may cross $2k with in couple of weeks. Specially considering there is a big event happening on 8th Feb.
Since you seem to have some knowledge about cryptocurrencies, can you tell me what makes Ethereum more or less desirable than Bitcoin? What is the main difference?
Crypto youtubers seem to hyping up Ethereum.
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Ethereum caught my attention in 2020 due to the amount of interest the Russian government has in it. Countries like Russia, Venezuela, Iran, NK and more, love cryptocurrencies like Bitcoin as Bitcoin and many other cryptocurrencies aren't backed by anything and the transactions cannot be traced
so you see how currencies are issued by central banks and are monitored, controlled through them? bitcoins are not... think of it like a reward that you get for solving complex computer math problems... you can use it to trade without having any evidence that you bought something. for example, let's say you're a bad guy and want a soviet warhead from the blackmarket... if you ever get arrested on the charge of purchasing a warhead... govt won't have any evidence you used the money to buy whatever it was ....I never get it, how cryptocurrency works? I mean no one owns it then who make it who give it to the others. can some tech guyexplain it in simple words?
Cryptocurrency costs computer resources to mine. Think of a network of computers called the blockchain. Every time somebody makes a transaction with bitcoin the transaction information is encrypted and sent to the blockchain. The computers then compete to see who can solve the encryption first. Solving the encryption takes a lot of computer power. Whoever manages to solve the encryption gets some bitcoin. Because the bitcoin cost a ton of computer resources to create, it becomes valuable.I never get it, how cryptocurrency works? I mean no one owns it then who make it who give it to the others. can some tech guyexplain it in simple words?
they don't have to be backed by anything. its like saying your not gonna buy gold because its not backed by anything. bitcoin is valueEthereum caught my attention in 2020 due to the amount of interest the Russian government has in it. Countries like Russia, Venezuela, Iran, NK and more, love cryptocurrencies like Bitcoin as Bitcoin and many other cryptocurrencies aren't backed by anything and the transactions cannot be traced
see above. Bitcoin used to be used for shady stuff and it still is but that doesn't mean that its bad. Its just that shady people try to find an opportunity in everything. Internet was first used to sell drugs too.Perhaps folks more informed on PDF can provide some info for you.
I have similar thoughts... Bitcoin seems like dark web for drug smugglers and shady folks...
I don't know...
this exclusivity is the main reason why it would not be considered as a proper currency.Cryptocurrency costs computer resources to mine. Think of a network of computers called the blockchain. Every time somebody makes a transaction with bitcoin the transaction information is encrypted and sent to the blockchain. The computers then compete to see who can solve the encryption first. Solving the encryption takes a lot of computer power. Whoever manages to solve the encryption gets some bitcoin. Because the bitcoin cost a ton of computer resources to create, it becomes valuable.
they don't have to be backed by anything. its like saying your not gonna buy gold because its not backed by anything. bitcoin is value