Cryptocurrencies are the hottest topic in 2018 with Bitcoin leading the charge. Several Chip and Cern Show regulars are invested and the boys are interested in this new trend. Chip and Cern go over the what is, who is and how to invest in “cryptos” as the kids are calling them.
According to Wikipedia, A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.
Joe and Dana are holding long term (or so they claim). Chip sees the long term value in this type of currency.
Blockchain is the core technology and is sort of the ledger of the Bitcoin. Some speculate that this type of technology can be used in voting and in online voting.
Cern is on the fence about getting in on the crypto game. He would buy in with some “funny money” and try to get into the smaller coins.
Chip will get in at some point he says, but not sure what to invest in and some more research is needed.
Bitcoin has been on a wild ride since its inception in 2009. Most of the action has been in the last two months.
The lack of regulation is very risky because people really hype and pump Bitcoin and then dump when the price shoots up.
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