And what will the future of money look like? Imagine walking into a restaurant and searching for at the digital menu board at your favorite combo meal. Only, instead of it being priced at $8. 99, it's shown as. 009 BTC.

Can crypto really function as the future of money? The answer fot it question depends on the overall opinion on several key decisions ranging from simplicity to security and regulations. Let's examine both sides of the (digital) coin and assess traditional fiat money with cryptocurrency.

The first and most important component is trust.
It's imperative that people trust the currency they're using. What provides the dollar its value? Is it gold? No, the dollar hasn't been backed by gold since the 1970s. Uniswap Then the facts giving the dollar (or any other fiat currency) value? Some countries' currency is considered more stable than others. Ultimately, it's people's trust that the giving government of these money stands firmly behind it and essentially guarantees its "value. inch

How does trust work with Bitcoin since it's decentralized meaning their isn't a overseeing body that issues the coins? Bitcoin sits on the blockchain which is basically an online accounting ledger that enables the world to view each and every transaction. Each of these transactions is verified by miners (people operating computers on a expert to expert network) to prevent fraud and also ensure that there is no double spending. In return for their services of maintaining the integrity of the blockchain, the miners obtain a payment for each transaction they verify. Since there are countless miners trying to make money each one checks each others work for errors. This evidence of work process is why the blockchain hasn't been hacked. Essentially, this trust is what gives Bitcoin value.

Next let's look at trust's nearest friend, security.
How about if my bank is robbed or there is deceptive activity on my credit card? My deposits with the bank are covered by FDIC insurance. Chances are my bank will also reverse any charges on my card that we never made. That doesn't mean that criminals won't be able to accomplish stunts that are at the very least frustrating and time consuming. It's more or less the peace of mind that comes from knowing that I'll most likely come in whole from any wrongdoing against me.

In crypto, there are plenty of choices when it comes to where to store your money. It's imperative to know if transactions are insured for your protection. There are reputable transactions such as Binance and Coinbase that have a successful status righting wrongs for their clients. Just like there are less than reputable banks all over the world, the same holds true in crypto.

What are the results if i throw a twenty dollar bill into a fire? The same holds true for crypto. If i lose my sign in recommendations to a certain digital wallet or exchange then i won't be able to have access to those coins. Again, I can't stress enough benefit of doing business with a reputable company.