Crypto - fit or unfit for the current financial system?
Read Time: 4 mins As Warren Buffet said, when you invest in a business you know it will reap returns or when you invest in a farm you can sell/consume the vegetables grown, but when you invest in non-productive assets like Bitcoin, you are investing in the sentiments of how excited the next person is in buying it who is further investing in the same sentiment of another person. We all know that cryptocurrency is the new form of currency that does not need a centralized bank for the transaction to be processed. It has a common ledger maintained where transactions are recorded with the help of unique digital signatures which comprises of a public and a private key. Some miners mine the cryptographic references for connecting one block of the ledger to the other and the ledger with the longest chain of blocks is considered legitimate. Although it may be too technical for people to understand how the mining of bitcoin is done and how the proof of work is generated, just like it is not