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.
Great article, totally what I wanted to find.
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!