some questions and awnsers
How could cryptocurrencies happen?
Because of developers that make a currency using the blockchain technology. Cryptocurrencies are also pretty new so people are buying them a lot after the bitcoin exploded. This is also why the interest in cryptocurrencies is getting higher and higher. If people wouldn’t buy them the cryptocurrencies would be dead.
Sources: Wikipedia page on Blockchain Technology
What is your opinion on cryptocurrencies?
I think that they are good in a experimental use but not yet for a daily use, I think it isn’t developed good enough yet. I also think that’s it’s really promising for the close or far future because this is really revolutionary. Cryptocurrencies are fairly new to the market so that means the future has way more opportunities.
Why do u think the cryptocurrencies are that successful?
Because it’s a new thing and people are making lots of money of it so other people want to try it. It also is because all cryptocurrencies are unique and different. Cryptocurrencies are also successful because of the many people that are interested in it. Investors, Normal People, Businesses, Millionaires.
Why are cryptocurrencies worth so much?
Because many people buy them and then they get worth more.
In this hypothetical scenario, what would happen to the value of a dollar? It would have to increase, because we would be using the same quantity of dollars to transact in an increasing quantity of goods and services. The growth in the value of a dollar would be related to the growth of our economy.
Sources: https://www.quora.com/Why-are-cryptocurrencies-valuable
How do people give value to crypto currencies and how is the price of cryptocurrency divided?
Cryptocurrencies were designed as a unit of exchange and as a place to store assets without relying on a central bank.This article will discuss the price of Cryptocurrency in general and what affects the price, it is not limited to Bitcoin but this will cover all cryptocurrency.
Sources: https://bitconnect.co/bitcoin-information/10/how-is-the-price-of-cryptocurrency-
How can you buy bitcoins:
You can pay for them in a variety of ways, ranging from hard cash to credit and debit cards to wire transfers, or even with other cryptocurrencies, depending on xwho you are buying them from and where you live.
Sources: brown man-man.nl
What is the danger about bitcoins
There are a lot of smart people that can hack you account and get your bitcoins but the bitcoin itself isn’t hack able because the blockchain technology is unhackable.
Sources: brown man-man.nl
How is the value of a cryptocurrency determined and where can You see it?
https://coinmarketcap.com/ has a list of cryptocurrencies ranked by the value of 1 unit of that currency times the cost on an exchange to buy it which equals the market capitalization. For example, 1 Steem today is worth $1.56 on Poloniex and Bittrex as I write this. With 235,749,278 STEEM available, that means in theory to buy every Steem at the market price today would cost $1.56 times 235,749,278 which equals a total market capitalization of $368,544,488. As you can see these numbers are all really fiction because the price moves all the time as does the quantity available meaning no one is going to actually be able to buy all the Steem in the world with $368 million. Still, the market capitalization gives a rough estimate of the total value today of a digital currency.
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