The cryptocurrency sector faced one of its most significant security breaches this year as stablecoin banking platform @0xinfini fell victim to a sophisticated cyberattack.
The best way I’ve found to explain crypto currency as someone who dabbled in mining and trading.
It’s like any other foreign currency. I don’t know what backs the British pound, I don’t know what people do with it, but I do know at any given day the pound vs the dollar fluctuates in price. Some people somewhere prefer the pound.
The analogy isn’t strictly incorrect, it’s just misleading. The price of usd to btc has seen more fluctuation in the last 24 hours than gbp to usd has seen in the past year. Crypto isn’t a currency, it’s a speculative asset.
Honestly not sure what point you’re making. ZWD has been completely stable against USD for a long time. BTC fluctuated by 7 entire goddamn percent. The currency of Zimbabwe is more of a currency than literally any crypto.
That’s a really reductionist take, I can pay taxes with the currency of my country of residence.
The best way I’ve found to explain crypto currency as someone who dabbled in mining and trading.
It’s like any other foreign currency. I don’t know what backs the British pound, I don’t know what people do with it, but I do know at any given day the pound vs the dollar fluctuates in price. Some people somewhere prefer the pound.
All that is true about most crypto currencies
The analogy isn’t strictly incorrect, it’s just misleading. The price of usd to btc has seen more fluctuation in the last 24 hours than gbp to usd has seen in the past year. Crypto isn’t a currency, it’s a speculative asset.
The fact that you don’t consider Zimbabwes dollarinos an actual currency doesn’t take away anything from the argument you replied to.
Honestly not sure what point you’re making. ZWD has been completely stable against USD for a long time. BTC fluctuated by 7 entire goddamn percent. The currency of Zimbabwe is more of a currency than literally any crypto.