Listening to NFTs defined as “non-fungible tokens” means nothing except you’re already accustomed to the phrase fungible.
After this episode of Misconceptions, you positively shall be. Psychological Floss host Justin Dodd is diving deep into the various myths and misunderstandings surrounding cryptocurrency à la Scrooge McDuck in that giant pool of gold coins.
Talking of cash: Simply because you’ll be able to’t maintain a bitcoin doesn’t imply there’s an infinite provide of them. And simply because the U.S. doesn’t acknowledge cryptocurrency as authorized tender doesn’t imply they don’t tax it. In El Salvador, however, bitcoin is legitimate authorized tender—that means you should utilize it to repay money owed. That mentioned, solely round one-fifth of companies there truly settle for it.
So what precisely is cryptocurrency? How does it work? And how will you use it to make swimming pools of gold cash to swim by way of? Press play under for solutions to 2 of these questions (and a few others).
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