Some new words related to cryptocurrencies

in language •  6 years ago 
Created with SttPscript

Bellow, the sentences with words that I didn't know in the text Why businesses should accept cryptocurrencies? by @flowingman. (Tip: use right mouse click to open the dictionary links in a new tab. So, you can stay in this page.)

1 - "Much like there are different monies (euros, pounds and dollars), there are many different cryptocurrencies offering unique selling points including speed, levels of security and privacy."

2 - "Once a transaction has taken place it can't be changed or deleted therefore illuminating fraud - a joy for an accountant or bookkeeper ."

3 - "The private key is like how in the old days you would sign a cheque with your signature and it signs the transaction in the background encrypted (the key is turned into a jumble of letters and numbers so it is never revealed)."

4 - "No overdrafts or inflation with Cryptos"

5 - "Then the high street banks themselves continue this money creation scheme by offering loans, mortgages and overdrafts (money which they didn't have to begin with)."

6 - "This means they are impossible to inflate and you cannot have a negative balance ( no overdrafts and interest payments to deal with)."

7 - "Currently they are very volatile and have been known to go up 100% in a year only to slump back down again."



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