“What The Hell Is It?” – 74 Cryptocurrency Questions Answered

A great article for those who are still in the dark about cryptocurrencies.

 

The price of bitcoin has rocketed more than 1,700% year-to-date.

 

With the price of the cryptocurrency soaring – and mainstream interest surging – Yahoo Finance recently invited readers to send us their top questions regarding bitcoin and other cryptocurrencies. We condensed questions from nearly 3,500 respondents into the list below, and enlisted a team of Yahoo Finance reporters to answer them, including Daniel Roberts, who’s been covering bitcoin since 2012, and Jared Blikre, our authority on trading. Ethan Wolff-Mann and Julia LaRoche contributed as well. Here’s everything you want to know about bitcoin:

1. What the hell is it? In the most general sense, bitcoin is software that forms a decentralized, peer-to-peer payment system with no central authority like the Federal Reserve or U.S. Treasury. It’s fair to call it a digital currency or cryptocurrency, but at the moment, most investors aren’t really using it as currency to pay for things. Instead, they’re using it as a speculative investment to buy in the hope of turning a profit. Maybe a big profit. (And maybe a big loss). Continue reading

Challenging the Oldest Monopoly on Earth — Money

 

President James Garfield once said…

“He who controls the money supply of a nation controls the nation.”

Who then, Mr. Garfield, controls the money supply of bitcoin? Continue reading

Total Chaos: Cyber Attack Fears As MULTIPLE CITIES HIT With Simultaneous Power Grid Failures: Shockwave Of Delays In San Francisco, Los Angeles, New York

The U.S. power grid appears to have been hit with multiple power outages affecting San Francisco, New York and Los Angeles.

Officials report that business, traffic and day-to-day life has come to a standstill in San Francisco, reportedly the worst hit of the three major cities currently experiencing outages.

Power companies in all three regions have yet to elaborate on the cause, though a fire at a substation was the original reason given by San Francisco officials. Continue reading