Nope because I don't understand it either. All I do know is they're going to expect us to switch to bitcoin or dogecoin in lieu of cash and with a push of a button it's gone
Not without user error. ₿Itcoin is no different than a bank, the only difference is that YOU are the bank. No one has ever hacked the ₿itcoin protocol.
Think of it like this : You know how viral internet memes can become super popular for a short time, even if they don’t really mean anything important? Memecoins are like that.
A token is created on one of the block chains and demand determines value, although an initial value is set. It trades 24 hours a day and has absolutely zero underlying value. It is a confidence game with a fixed # shares. Do not confuse bitcoin with meme coins. That is a separate conversation.
Just like bit coin but even wilder. You buy them as if they’re stock/shares and hopefully the price goes up so you can sell them later.
Pretty much a cash for nothing thing in my brain since they’re only data and theres nothing backing them but hopes and dreams that someone will buy them later
Pretty much.
Most coins are programmed by copy & pasting other coins. The people that make them can charge transaction fees for trading and often sell their coins at the hyped starting price and bail before everyone realizes they made a bad purchase.
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Think of it like this : You know how viral internet memes can become super popular for a short time, even if they don’t really mean anything important? Memecoins are like that.
All of a sudden, that kid would be popular, charging $ for them and they would be valuable until everybody had one, then it wouldn’t be anymore
Pretty much a cash for nothing thing in my brain since they’re only data and theres nothing backing them but hopes and dreams that someone will buy them later
Most coins are programmed by copy & pasting other coins. The people that make them can charge transaction fees for trading and often sell their coins at the hyped starting price and bail before everyone realizes they made a bad purchase.
https://youtu.be/zUHq8AWR1Rg?si=G_C7mzHxE10-a4dG