🍌 Crypto, as explained by a 13-year-old 🍌

Tay'Tran Bananamon, the know-it-all teenager, is back to explain cryptocurrency...

So, maybe you saw my first post about how Steemit works. I was, like, talking about Steem and Steem Back Dollars and Steem Power, but it was just too much info to be writing about at one time, you know? I couldn't get into, like, actually explaining crypto to everybody, so I'm back to do that now.

"Crypto" is a nickname for cryptocurrency. It's how the cool people talk about it. They also say "coins" and "tokens" and "ICOs" but, like, "crypto" is a good name to use for it.

See, currency is just a fancy name for the money that people use to buy stuff. Money comes in all different kinds of coins and paper, depending on which country you live in. So there's, like, a gazillion of these monies out there, and what if someone in one country wants to buy something from someone in another country? Their currencies don't match, see? They have to, like, take their money and change it into the other money just so they can buy something.

I know. It's crazy.

So, along came cryptocurrency, which is basically money on the internet. Everyone all over the world can buy it with their hard currency. (Oh, did I explain hard currency to you? It's the coins and bills people use in whichever area of the world they're in.)

This is so crazy, you people! You complicate things so much. Bananas don't have currency. We don't need it. We live and grow and hang around, and if one of the bunch needs something and we've got it, we just, like, give it to 'em. We're a collective, we're all in this together, and we don't need to, like, charge each other for stuff.

Anyway, so people buy crypto with their hard currency... which is actually kinda funny, because it's not like they actually take a coin and buy a crypto. 'Cause you can't. You have to use electronic funds to buy cryptocurrency funds. So, like, my point is that what people think of as hard currency is most of the time just electronic funds anyway.

So, people can buy crypto. Man, is this explanation gettin' long! They buy something like Bitcoin or Ethereum or Steem, and then they can use it on the internet and in deals with other people who have that crypto or are selling something for that crypto. And if you don't have the kind of crypto that person or company wants, you can change your crypto into another crypto and, like, you're set.

Ok. I think I've explained the whole crypto thing to you all. Gotta go!

@bananamemos

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