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Differences between “Normal” money and Cryptocurrency, Bitcoin

I think for me one of the amazing thing about Bitcoin and other Cryptocurrencies based on the blockchain (I own a few), is the way it works

“Normal” Money Crytpo Currency
Run by Governments and Banks Run by US
Centralised D-Centralised
Based on Debt No Debt within the actual currency
Based on Interest No Interest within the actual currency
Fractional Reserve Banking YOU are your own bank
Regulated YOU must regulate your money and do proper investments
High Charges for Certain things Low Charges
Can take days to transfer money NORMALLY is instant (sometimes there is a blockage in the blockchain
Not backed by anything Regulated by the Blockchain

As you can see there are some key things to note here. Firstly with Bitcoin and other currencies TRUST is held in the blockchain, you don’t have to trust the system, just the people you are trading/transacting with.

 

2 Comments

  1. www.CheatHacker.comwww.CheatHacker.com July 24, 2017

    Wonderful post but I was wondering if you could write
    a little more on this subject? I’d be very grateful if you could elaborate a little bit further.
    Many thanks!

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