Crypto currencies are payment for work done, calculations completed successfully on a computer, and rewarded in a “script” of sorts, all notated in a “block chain”, or a distributed, decentralized spreadsheet.
There are a finite number of “coins” in a given crypto currency, and so as more work is done, each new coin that is earned via calculations takes longer and is worth more in conversion to dollars.
There is much more to the whole scheme, wherein lies weaknesses and hackability, notably with “wallet accounts” where earned coins are accounted for. I don’t pretend to completely understand the entire concept, nor commit to defend its viability, and I am sure others can explain it all with more accuracy and comprehensiveness. My two cents.
wherein lies weaknesses and hackability, notably with “wallet accounts”
Like precious metals, if you have an offline “wallet” your BTC are safe. If you “hold them” you own them.
You would have to “hack” my safe and understand my 26 phrase security code to get ahold of my couple of coin.
The love of money
Is the root of all evil
Money is NOT real
Only love is real