“Digital currency is the way of the future” is what you hear a lot of people say, it is been said sporadically ever since bitcoin inception in 2009. But how true is this statement and what does it even mean? Keep reading to find out the answer!
Digital currency unlike the real live bills and coins in our world is a completely digital currency, not regulated by any bank or government, or even organization such as the federal reserve. It operates just as a digital exchange network where bitcoin is the goods. The exchange is completely voluntarily and monitored by a series of codes and bitcoin chains, which are overseen by bitcoin miners. That way the bitcoin transactions are safe and the miners also earn money from this exchange. You can calculate exactly how much money you’ll make in our bitcoin mining calculator.
We at coinish believe, that like most things in life, the truth lies somewhere in the middle. Digital currency is definitely a terrific innovation and we’re sure that the use in it will increase overtime, but as we can see with bitcoin, it is still not accepted everywhere and there are still plenty of difficulties facing it.
So to conclude our answer, digital currency, and especially bitcoin is a great innovation that we will hear about a lot more in the next 5 to 10 years. However it is not the time to throw away your bills and coins yet.