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RE: What do You Think of My Answers to Ten Questions on Bitcoin and Blockchain Technology?
I usually compare crypto mining to the way fiat currency is printed by central banks. It's an imperfect illustration, but the closest analogy I can find.
I agree. But for most people I talk with, the typical answer is "I can touch the bills, not the cryptocoins". This require some level of abstraction that many people do not have.
Yeah, though I've found it useful to point out how most of the time we don't actually touch physical money any more. It shows up in our bank accounts from direct deposits or other electronic transfers, and then leaves it through purchases made with debit or credit cards. I can't remember the last time I paid for something in cash. Pointing that out kind of helps people understand the whole "electronic money" thing a bit, I've noticed.
Indeed! That's true. Thanks for the hints ^^