Three hundred and thirty-one years ago, the first paper money was printed in the United States. The Massachusetts Bay Colony is said to have issued these first bills to fund military action during King William’s War. Flash forward until today, and these bills are as ubiquitous as the pound sterling or the Chinese renminbi. In recent years, however, there has also been talk of these bills being replaced by a new form of money: cryptocurrency.
What is cryptocurrency? Is it really likely to replace our current treasury system? Stacker answers all of these questions and more in our deeper look at Bitcoin and the world of cryptocurrencies. Using news stories, financial websites, and industry resources, we’ve answered the 10 most pressing questions you ask yourself about cryptocurrencies. Although the subject is complex, we have done our best to discuss it in layman’s terms and have avoided the more technical aspects which tend to bog down the discussion rather than move it forward.
So read on to find out who invented this new form of silver, how it’s mined, and what exactly Elon Musk has to do with it all. You are sure to come away with a better understanding of what Bitcoin is and how it affects your life.
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