I realize there is a subreddit for this but I'm specifically not posting it there because I don't want people using it to define itself.
Bitcoin and cryptocurrencies make no sense to me, so please help me understand. I get that people say block chain provides a source of truth, but I still don't quite understand why and how. Marry that up with actual money (bitcoin and not Ethereum) along with people calculating blocks via their comps and I’m lost.
When I’ve asked for explanations I get people sending me links to articles that basically use the terms “cryptocurrency” and “block chain” to define themselves, which doesn't make sense and send up all sorts of red flags in my mind. These same articles spout all sorts of upsides but zero downsides, which again sends up all sorts of red flags. In the end the entire thing seems like a “pyramid scheme” / “snake oil salesman” situation: (1) Convince everyone this is the wave of the future, (2) get them to commit tons of money & (3) switch to a new method and say the new method is now superior, thereby telling people they have to now move their money. Strikes me like airline frequent flier miles
So, can you explain and maybe convince me how cryptocurrencies are good? Explain it as Dr Richard Feynman might to a class, i.e. use things I may understand to explain this thing and not use their own terms to define themselves.
Submitted November 25, 2017 at 09:42PM by ZombieJetPilot http://ift.tt/2zAulQf via TikTokTikk
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