I feel like I know how it works, but – at the same time – I am all the more confused. Where are all the BitCoin brokers?
“A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange.
“It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency.
“Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled.
“There have been many attempts at creating a digital currency during the 90s tech boom, with systems like Flooz, Beenz and DigiCash emerging on the market but inevitably failing. There were many different reasons for their failures, such as fraud, financial problems and even frictions between companies’ employees and their bosses.”
Read more at Coin Telegraph