How does a cryptocurrency start? Who decides? Who owns the original offering?
Seems as if it’s more akin to stocks, in that it only represents something that can be bought and sold and its price is volatile, although one is supposedly buying a piece of a company.
I can see how credit cards are becoming more prevalent than checks, but not sure about ccs.
The idea that people without bank accounts would have access to ccs seems silly. People who don’t have checking accounts often don’t have computers either.
Warren, thank you for this excellent article on bitcoin and all its dynamic manifestations. As a retiree, I personally wouldn't touch bitcoin--it's far too volatile. That a country like El Salvador would jump into the deep end of the pool shocks me. China largely survived the 2008-09 crisis by not participating in the banker's' blood-letting associated with sub-prime mortgages. That proved to be very good sense. Now China is avoiding bitcoin at least partly to avoid risk, but also because its capitalism is thriving without financial gadgets.
I do have to laugh these days whenever I charge something with my trusty credit card. I often have to ask the clerk how to use the machine in front of me. Half the time, the clerk has a problem and mumbles an apology that it's a new machine etc. Just yesterday, one clerk had to help the first clerk with the correct usage of their new machine. I will say that I no longer write checks in the supermarket as I get stares from all the impatient folks in line behind me....
How does a cryptocurrency start? Who decides? Who owns the original offering?
Seems as if it’s more akin to stocks, in that it only represents something that can be bought and sold and its price is volatile, although one is supposedly buying a piece of a company.
I can see how credit cards are becoming more prevalent than checks, but not sure about ccs.
The idea that people without bank accounts would have access to ccs seems silly. People who don’t have checking accounts often don’t have computers either.
As you can see I don’t understand much.
Warren, thank you for this excellent article on bitcoin and all its dynamic manifestations. As a retiree, I personally wouldn't touch bitcoin--it's far too volatile. That a country like El Salvador would jump into the deep end of the pool shocks me. China largely survived the 2008-09 crisis by not participating in the banker's' blood-letting associated with sub-prime mortgages. That proved to be very good sense. Now China is avoiding bitcoin at least partly to avoid risk, but also because its capitalism is thriving without financial gadgets.
I do have to laugh these days whenever I charge something with my trusty credit card. I often have to ask the clerk how to use the machine in front of me. Half the time, the clerk has a problem and mumbles an apology that it's a new machine etc. Just yesterday, one clerk had to help the first clerk with the correct usage of their new machine. I will say that I no longer write checks in the supermarket as I get stares from all the impatient folks in line behind me....
Many thanks Warren for your excellent work. RM
Very interesting, but quite scary with the ups and downs and rather complicated.