Thank you, Satoshi.
Hi to all,
I constantly read about cryptocurrencies and I continue to be confused. Not with the idea of it all but, instead, I remain dazed with the idea of these coins being true currency. They’re not.
Let’s quickly speak of Bitcoin. If you dig a little online one will find the original paper that Satoshi Nakamoto published in regards to the writing/creation of Bitcoin (September 2008).
The tile of the document was Bitcoin: a peer-to-peer electronic cash system. Bitcoin is not a currency it is simply an accounting system for electronic cash, yet we (people) call it digital currency? Confusing I know.
Regardless it looks like the world is starting to adopt the idea of it all and the future looks super exciting when pertaining to “cryptocurrencies.” ;)
I even looked it up to make sure, but cash, currency and money are all synonyms for each other, so I guess electronic cash and digital currency is the same thing? What's your definition for currency?
All money is is a construct of a "great" (depends how you view it ha) accounting system & without the accounting side (banks) normal currencies simply couldnt exist as currencies seeing as most of the money thats currently in existence is a fraction of whats actually out there. seeing as its all been digitized already by the banks. The banks have been trying to create a cashless society since there conception. the less cash there is and the more digital transactions means its easier for them to concentrate control. so the paper that was written was basically trying to state the need for a trust system that would facilitate the transactions of digital currencies. at least thats what I got from it anyways.
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