I don't understand cryptocurrencies. Please explain.

December 18, 2018

 

Okay, I need help.

 

I just don't understand cryptocurrencies.


I have watched Netflix documentaries.

 

I have read countless articles.

 

I have spoken with many experts.

 

And still, after two years of banging my head against the wall, I just cannot figure it out.

 

Partially I suspect it's because enthusiasts keep jumping down my throat, telling me that I don't understand the sheer genius of creating a financial system that can use body to create more cryptocurrencies.

 

Disclaimer: I am not the sharpest tool in the shed.

 

However, if someone can explain to me how this whole thing works, I would appreciate it.

 

Assume I am five years old and slowly explain it to me.

 

Don't bedazzle me with far-flung ideologies.

 

Don't tell me about how corrupt the Federal Reserve system is.

 

And, under no circumstances are you to tell me about how blockchain will revolutionize everything too.

 

Calm down, take a deeeeeeeep breath and just tell me how cryptos work.

 

Please provide data if you can.

 

Thank you.

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