Three hundred and thirty-one years ago, the first paper money was printed in the United States. Supposedly, the Massachusetts Bay Colony passed the first bills to fund military action in King William’s War. Fast forward to today, and those banknotes are just as ubiquitous as the British pound or the Chinese renminbi. However, in recent years, there have also been talks about the possibility of replacing these bills with an entirely new type of money: cryptocurrency.
What is cryptocurrency? Is it really likely to replace our current monetary system? Stacker answers all of these questions and more in a closer look at Bitcoin and the world of cryptocurrency. Using news reports, financial websites, and industry resources, we’ve answered your 10 most pressing questions about cryptocurrencies. While the topic is complex, we have done our best to discuss it in layman’s terms and avoid the more technical aspects that tend to stymie the discussion rather than move it forward.
So read on to find out who invented this new form of money, how it is mined, and what exactly Elon Musk has to do with all this. You are sure to walk away with a better understanding of what Bitcoin is and how it affects your life.
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