What are cryptocurrencies really?

[Keion]

these are limited entries in a database no one can change without fulfilling specific conditions. This may seem ordinary, but, believe it or not: this is exactly how you can define a currency.

[Rifler]

Believe u or not: ordinary money is only a colored paper...

[Lynchfondu]

Believe u or not: ordinary money is only a colored paper...

I'm sorry, but likening fiat currency to cryptocurrency is just stupid. The value of fiat currencies are supported by a monsterous amount of variables, whereas cryptocurrency is merely supported by... Whoever supports them.

People have argued that the value of cryptocurrency has to do with total supply, but I'd argue that it's more to do with demand (driven by support). For example, I think Litecoin has maybe about a 17% difference in total supply compared to Bitcoin, yet Bitcoin is valued far higher. It's all about popular support.

[LoveInThisCryptoClub]

Given value through people's interest and through electricity spent during mining

[Futureblnr]

I'm not buying bitcoin right now, I personally think it's not the best moment now... But overall, I would say that crypto is the future of currencies... it's transparent, fast transactions... it is what our economy will be... and it's smart to join it right now

[nickmarketeer]

these are limited entries in a database no one can change without fulfilling specific conditions. This may seem ordinary, but, believe it or not: this is exactly how you can define a currency.

Nope. Wrong definition. I can design a calendar on the blockchain and it will fit the definition you posted, but it won't be a currency. Check what is the definition of currency on Wikipedia.

[HeliPilot23]

They're digital currency. Can pay with them online instead of using cash or credit and pay anoymously