From the course: Economic Tips for Everyone

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Cryptocurrencies

Cryptocurrencies

From the course: Economic Tips for Everyone

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Cryptocurrencies

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- Cryptocurrencies are like currencies, but they're not issued by governments or central banks. Individuals and entities have developed cryptocurrencies because they're concerned that central banks may engage in endless printing of money that could cause devaluation. When people hear the word cryptocurrency, they think of digital currencies like Bitcoin and Ethereum, but the truth is there were other kinds of crypto or token currencies before Bitcoin. Disney Dollars, for example, have been around since the 1970s. And while they're no longer being issued, their exchange rate is still $1 to 1 Disney Dollar. And Disney Dollars can still be spent at Disney corporate locations, at their parks and in their stores. But unlike Disney Dollars that were more like gift certificates with souvenir value that people held onto, cryptocurrencies like Bitcoin and Ethereum can be used for a variety of transactions. Most modern digital…

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