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cryptocurrency ( bitcoin) pros/cons (Pros (No govt. interference (can'…
cryptocurrency ( bitcoin) pros/cons
Pros
No govt. interference
can't track your spending
Secure (mostly)
Every financial transaction gets blockchain
every transaction makes it more secure
links are called " hashes"
No need for multiple currencies
saving minting cost
very efficent
Eliminates middlemen don't need bankes
money is stored in a crypto wallet
Cons
Hacked
Japanese version of bitcoin got hacked jan. 15th for $500,000,00
Very volatile
huge price swings
price as of feb. 6th is less than $6,000
Two weeks ago, it was less than $12,00
Nobody can agree which version to use
Will it be bitcoin, Ethereum, bitcoin,or Ripple