Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Personal Finance and Investing

Tomconroy

(7,611 posts) Thu Sep 9, 2021, 06:12 PM Sep 2021

I still don't understand it. But for those with an interest, this explanation from Goldman Sachs is as detailed as I've seen:

https://www.marcus.com/us/en/resources/personal-finance/what-is-cryptocurrency

2 replies

= new reply since forum marked as read

Highlight:

What is Cryptocurrency? (Original Post) Tomconroy Sep 2021 OP

A way to transfer value for nefarious purposes. paleotn Sep 2021 #1

And it uses a diabolical amount of electricity Lulu KC Sep 2021 #2

(19,178 posts)

1. A way to transfer value for nefarious purposes.

Thu Sep 9, 2021, 06:21 PM

Sep 2021

Tailor made for money laundering, extorsion and various forms of smuggling. Outside of that, it has no more utility than greenbacks, euros or yen.

(4,187 posts)

2. And it uses a diabolical amount of electricity

Thu Sep 9, 2021, 06:50 PM

Sep 2021

There was an article about in Sunday's NYT. I still don't get what it is, but I know it's bad for our planet.