Bitcoin Forum
August 17, 2024, 04:20:01 AM *
News: Latest Bitcoin Core release: 27.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: What are cryptocurrencies secured by?  (Read 126 times)
Blockgraham (OP)
Newbie
*
Offline Offline

Activity: 97
Merit: 0


View Profile
December 09, 2017, 08:38:12 AM
 #1

Or is it just like a dollar?..
worldofcoins
Sr. Member
****
Offline Offline

Activity: 1946
Merit: 438


Telegram: @worldofcoinss


View Profile WWW
December 09, 2017, 08:41:53 AM
Last edit: December 14, 2017, 02:50:01 PM by worldofcoins
 #2

you could not do the research for this info without posting.  It can be stored by you and it depends on much what you are talking about, most alt
coins have a client side wallet or we call it a coldwallet, which can be stored and secured by you only.  You will have to do more research on how to secure currency of choice.  The answer is out there if you seek.

*meoww*
Blockgraham (OP)
Newbie
*
Offline Offline

Activity: 97
Merit: 0


View Profile
December 17, 2017, 04:11:22 PM
 #3

you could not do the research for this info without posting.  It can be stored by you and it depends on much what you are talking about, most alt
coins have a client side wallet or we call it a coldwallet, which can be stored and secured by you only.  You will have to do more research on how to secure currency of choice.  The answer is out there if you seek.

I do understand how the value of cryptocurrencies is formed but I was looking for an explanation why e.g. BTC is safe. Almost nothing can happen to gold, so its value will always remain (we're not talking about conditions when it can loose its inner value, like shrinking of spheres of application). So what preserves BTC from a collapse? Since it has no inner value.
albertorma
Full Member
***
Offline Offline

Activity: 173
Merit: 105



View Profile WWW
December 17, 2017, 04:24:10 PM
 #4

Decentralization + cryptography

jackhdt
Sr. Member
****
Offline Offline

Activity: 476
Merit: 256


View Profile
December 17, 2017, 04:38:58 PM
 #5

you could not do the research for this info without posting.  It can be stored by you and it depends on much what you are talking about, most alt
coins have a client side wallet or we call it a coldwallet, which can be stored and secured by you only.  You will have to do more research on how to secure currency of choice.  The answer is out there if you seek.

I do understand how the value of cryptocurrencies is formed but I was looking for an explanation why e.g. BTC is safe. Almost nothing can happen to gold, so its value will always remain (we're not talking about conditions when it can loose its inner value, like shrinking of spheres of application). So what preserves BTC from a collapse? Since it has no inner value.
Bitcoin value is assessed by the elements:
 Limited supply and supply/demand rule
 The use of energy: currently blockchain uses large quantities of energy to ensure its security. Price factors appear here because it takes a certain amount of energy on average to ' mine' a Bitcoin. The value of the goods is determined by evaluating the cost of labor.
 bitcoin has value Exchange





Make me great again
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!