Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Bitcoin"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Cryptwhale][quote=Anonymous]Can someone explain bitcoin like I am a 5th grader? It seems like it is conjured currency, like a US dollar or the Japanese Yen, but there is no government backing up its value, so the value is whatever wall street says it is?[/quote] Actually a fair way to look at it. Bitcoin isn’t backed by a government, but that’s kind of the point, it’s backed by technology and math instead of politics or central banks. It’s a decentralized digital currency, meaning no one can print more or manipulate it. There will only ever be 21 million Bitcoins, and anyone can verify that on the blockchain. The scarcity and transparency are what give it value like digital gold, but easier to store, move, and use globally.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
