cryptocurrency for beginners

imagine you are having conversation with your friends know at some point in this conversation someone's going to bring up crypto currencies no crypto currencies just something that everyone wants to talk about but no one really knows how they work today i'm going to fix that i am route from simpler and this is crypto currency explained since mine water currency it's been a really important part of our lives and the gave manner they used to barter system know the barter system involves good to themselves as being exchanged among each other so now we have a situation in american men as extending seven apples and getting order and just knew done not to bother systems and out of use because it had some glaring flaws but these flaws include having people to crime and scorns for example say you have five apples and your fan has fire and just you want some of a sudden just know until and unless your friend has a requirement for the opposite that you own he's not be there you to make an exchange for it there's no combination of value since there is no common measure in terms of which value of a commodity can be expressed there is a problem and you have to decide how many apples

you don't need to pay for one orange on a mango not all goods can be divided subdivided for example you can divide alive i knew it into different smaller unit the goods cannot read on sport it easily now unlike a modern currency fits in your wallet or your wife on the good set you own cannot be taken with you everywhere you go after the alleging that the barter system denver the currency been to a few isolation hundred and ten bc in officiate got into was meant it and tell them to fifty eighty gold plated florence was introduced and this was used across europe and from sixteen hundred eighty two nineteen hundred eighty a bucket and see gained widespread popularity envious used across the what does this whole modern currency as we know it came into existence and and see included paper currency and coins good gods and digital it for example you have api bay amazon bay be damned bay about it and so on all of this was controlled by banks and governments know this means that there was a centralized that they could literally authority the limited help people to currency and credit cards work imagine the scenario doing it

john's actually get you a techie your friend for being for your lunch you saying that you're sending the money to that account now this transaction takes place successfully but there are several movies that this could have gone drunk they could have been a technical issue at the bank for example the systems could i be known the machines right in bucking properly and so on that means that's the central point of failure which is the bank the uses of guns could have gotten heck for example there could have been a needle stuck or identity theft and so on are to transfer limits for that have gone very exceeded this is why the future of currency lives with crypto currency imagine the transaction between two people in the future one of them has to bitcoin growing up and there's a notification asking but did they showed that eighty to transfer five bit codes if s processing to actually he had alt indicating the user's identity checking whether they had that acquired balance to make that transaction and other things after that's done the payments john's foot end up being deceived all of this happens in a matter of minutes and his last simplest that descend on removes all the problems of modern banking there's no limits to the funds you can transfer your accounts