It resembles a Ponzi scheme until you get a full understanding of why and how Bitcoin works. There are some coins that are definitely comparable to Ponzi schemes, but Bitcoin as a whole is something different. Just keep trying to learn and gain as much knowledge as you can and you'll get the hang of it all pretty quick
RE: Ripple's Market Capitalization Tops 11 Billion USD, Could This Become The Biggest Bubble Yet?
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Ripple's Market Capitalization Tops 11 Billion USD, Could This Become The Biggest Bubble Yet?
i love the idea of it , the reality that currency is really nothing more than a set of code on a machine is hard to wrap your head around, and trying to find the next bitcoin is worth throwing a couple of dollars at, i am still trying to figure out the conversion quandry, and how that will be taxed if it is taxed at all.
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Why it's hard to wrap your head around it? Do you have a bank account? Do you use a card to pay online or in shop? That's your currency stored as a set of code on a machine just in a manner we humans can read it easily. You could quite easily store your $14.45 as 1110.01110011001100110011 :)
The underlying technology behind it thought it's another story.
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