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Author Topic: The Full Explanation What Is Cryotocurrency?  (Read 69 times)
jcemos9bt
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June 18, 2018, 12:22:29 AM
 #1

Teaching today.
what is cryptocurrency? it is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

what this basically mean is that your current currency is issued by the central bank is like manage through a networks or banks therefore they are verifying it on every level, where as a crypto cryptocurrency is not operate or manage by a central bank and it is highly encrypted so no one can just hack in and see the data if you want xyz or if you not, so it is really safe.

Bitcoin was the first cryptocurrency developed in 2009.

since then many new cryptocurrencies are formed and are knows as Altcoin.
Cryptocurrencies are based on De Centralization, which means they are not like operated by one know entity or one know controller De Centralization, they are available in so many networks of computers therefore is really hard to get data or to hack in to steal those funds
 
What is centralized Currencies and Decentralized cryptocurrency
in centralized banking and economic systems such as the federal reserve system, governments control the supply of currency by printing paper money.
that is were you see governments saying interest rate will increase they will be issuing more paper money and all that stuff if your country is good it currency rises other wise it currency fall and that is what you are seeing around the world today example is  Nigeria it currency going down down down because they are operating more and more of money each and everyday, so you are in a fix because the government know how much money they want, they can task you and they can print more money which which will increase the value of your money this is what a centralized banking and economic systems is.
  
Therefore in case of decentralized cryptocurrency, companies or governments can not produce new units. therefore its not under any government control.
This is what is cryptocurrency.
Hope i explained it clearly for your understanding now.
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July 07, 2018, 05:20:53 PM
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Cryptocurrency (electronic money) is a digital currency designed to act as a means of exchange. It uses encryption to secure and verify transactions as well as control the creation of new units of a particular cryptocurrency. Basically, cryptocurrency is the limiting item in a database that no one can change unless the specific conditions are met.
FEATURES OF CRYPTOCURRENCY
- Irreversible
- Incognito
- Fast & Global
- Security
- Do not force
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July 08, 2018, 05:05:06 PM
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Learning about blockchain and cryptocurrency with the simplest analogy of cryptocurrency is the most talked about terms (number 1) in the world today Bitcoin is the electronic currency that Torrent (peer 2 peer)
the bitcoin power is its users and no one can set the bitcoin design of the system from Bitcoin allowing anonymous ownership and very cheap transaction costs.
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July 09, 2018, 02:13:34 AM
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Cryotocurrency is an electronic money form that is encoded by an algorithmic block. It is public in the blockchain network. It is transparent. quick transaction.
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July 10, 2018, 09:46:53 AM
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Teaching today.
what is cryptocurrency? it is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

what this basically mean is that your current currency is issued by the central bank is like manage through a networks or banks therefore they are verifying it on every level, where as a crypto cryptocurrency is not operate or manage by a central bank and it is highly encrypted so no one can just hack in and see the data if you want xyz or if you not, so it is really safe.

Bitcoin was the first cryptocurrency developed in 2009.

since then many new cryptocurrencies are formed and are knows as Altcoin.
Cryptocurrencies are based on De Centralization, which means they are not like operated by one know entity or one know controller De Centralization, they are available in so many networks of computers therefore is really hard to get data or to hack in to steal those funds
 
What is centralized Currencies and Decentralized cryptocurrency
in centralized banking and economic systems such as the federal reserve system, governments control the supply of currency by printing paper money.
that is were you see governments saying interest rate will increase they will be issuing more paper money and all that stuff if your country is good it currency rises other wise it currency fall and that is what you are seeing around the world today example is  Nigeria it currency going down down down because they are operating more and more of money each and everyday, so you are in a fix because the government know how much money they want, they can task you and they can print more money which which will increase the value of your money this is what a centralized banking and economic systems is.
  
Therefore in case of decentralized cryptocurrency, companies or governments can not produce new units. therefore its not under any government control.
This is what is cryptocurrency.
Hope i explained it clearly for your understanding now.

Cryptocurrency is designed to be used as a way of conversion that to keep safe financial transactions, verification of the transfer of assets and building additional units. It is a kind of digital or alternative currency. As an opposition to centralized electronic money or central banking system, cryptocurrency operates through distributed ledger technology that works as a public financial transaction database, typically known as a blockchain.

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July 10, 2018, 09:52:30 AM
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In other words, cryptocurrency is electricity, converted into lines of code with monetary value. In the simplest of forms, cryptocurrency is the digital currency.

Unlike centralized banking, as the federal reserve system, where governments control the value of money as the dollar through the printing of money, the government does not control the bile algorithms as they are distributed. Full rights.

What is Cryptocurrencies?

Most secret terminologies are designed to reduce production over time as Bitcoin, creating a market cap on them. This is different from the currency where financial institutions can always generate more, so inflation. Bitcoin will never have more than 21 million in circulation. The technical system where all the secrets are based was created by Satoshi Nakamoto.
Hitesh shaveta ohri
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July 10, 2018, 03:48:16 PM
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Cryptocurrency is a digital currency designed to act as a means of exchange. It uses encryption to secure and verify transactions as well as control the creation of new units of a particular cryptocurrency. Basically, cryptocurrency is the limiting item in a database that no one can change unless the specific conditions are met.
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July 10, 2018, 04:44:44 PM
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Cryptocurrency is mostly mined with a hardware and uses electricity to power it. Cryptocurrency is composed of bitcoins which is the leader and alternative currency.

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ritiktakyan01
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July 10, 2018, 05:35:44 PM
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Cryptocurrency is a type of lingual currency that works on the blockchain technology platform, which is exchanged through internet.
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July 10, 2018, 06:28:52 PM
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Cryptocurrency is a type of lingual currency that works on the blockchain technology platform, which is exchanged through internet.
Cryptocurrency are virtual currency which are decentralised nature which means they are not in the control of any kind of authority or person. They are simply electronic money runs by a digital algorithm. Every transaction which made through cryptocurrency are recorded in a public register and which is transparent for everyone. Cryptocurrency are also convert into real currency but this thing only happen in those countries where cryptocurrency is accepted. In today's time cryptocurrency is the most used currency for online shopping. Cryptocurrency are the future currency.  Smiley

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