20 April, 2021

Crypto Currencies – Don't Let the Fear of Missing Out Catch You

Please don't skip the meals in the student restaurants or sell the only real estate you have, just to buy a cryptocurrency. You should execute long-lasting due diligence (deep studying) before buying it. I went to the conference back in 2017 at the Faculty of Economics and Business and I would like to write what I have learned there.

We exaggerate when we talk about digital money
Lajoš Žager, Ph. D. Professor,  Faculty of Economics and Business, University of Zagreb

P2P-network.svg
A peer-to-peer (P to P) network in which interconnected nodes ("peers") share resources amongst each other without the use of a centralized administrative system

By User:Mauro Bieg - Own work, Public Domain, Link

Sometimes they say that the Bitcoin system is using too much electric power, it is not eco-friendly. In the conference, they concluded that the next big thing in the cryptocurrencies is Ethereum - because it's programmable and it's the way all new coins are coming out. It uses 'smart contracts' — running on Ether —  to get things done. It is unclear how much electric power is using, is there any actual difference between Bitcoin, it remains to be seen.

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