Thanks for that link.
I would be glad to hear from anyone else who, like myself, has a fundamental lack of understand of what Cripto Currencies are after they have read that article.
BTW: Did any of this discussion help the OP figure out just how to get a knife into Lebempn?
Credit, debit and gift cards are all digital money.
Crypto takes it a step farther where it has a ledger of every transaction it has been involved in attached to itself which is relative to where all the other coins of its type reside, has transacted. This called blockchain technology.
Therefore if someone tries to hack one coin and introduce a transaction that did not take place, they would have to hack all other active coins to accommodate their change. Failing to do so, the mining aspect would rewrite the hacked coin to its original state. Hacking crypto is incredible difficult to do unless there were just a few coins in circulation, which is never the case.
To date, Bitcoin has not been successfully hacked. It is the most mature blockchain and will likely be completely unhackable, at least until quantum computers show up in regular use, estimated to around 2030-2045.
Blockchain also makes crypto the most trackable currency in existence. The silk road owners were captured by investigating the blockchain for their crypto fees.
This technology is the future and will be applied all contracts and asset titles, as well as financial instrument ownership.
Hope that is intelligible.
