It’s been a busy year for Elon Musk. The SpaceX founder and Tesla CEO endorsed the use of Dogecoin on the /r/dogecoin subreddit. So what does this mean? Is Musk endorsing crypto-currencies like Dogecoin as an investment opportunity or just because they’re fun? Is this endorsement any different than former President Donald Trump endorsing Bitcoin? How can you take advantage of this new information if you’re interested in cryptocurrency?
Our interest was originally piqued by the absurdity of Bitcoin and Dogecoin, both memes that have become viable alternatives to hard currency. Our first thought was that it would be funny if someone bought a $100 million house with Bitcoin or Dogecoin, so we started poking around online to see if there was any way you could use these virtual currencies as real cash.
We found out that it’s not as easy as you might think. There are several companies that allow you to buy things for cryptocurrencies like Bitcoin and Dogecoin, but most of them require some identification attached to your account (like a driver’s license or social security number). That doesn’t really sound like anonymity at all—it sounds more like getting verified on Craigslist or something!
Bitcoin, through sheer infamy, has already become a genuine financial instrument, with a market cap in the billions of dollars.
Bitcoin is a cryptocurrency, a digital currency that is not issued by any central bank or other authority. Instead, it is traded on a peer-to-peer network of computers called miners. The coins are created by computer code via the mining process and sporadically released into circulation. The money supply is limited to 21 million bitcoins.
Bitcoin can be used to buy things electronically just like other currencies, but its main purpose is as an investment because of the high value they have gained over time and because it can be sold at high volumes without incurring fees or taxes. You can use Bitcoin to make purchases anonymously, which makes it popular with libertarians, speculators and criminals alike who want their movements to go unnoticed by authorities.
Cryptocurrency may be absurd, but it could be the future of finance.
Cryptocurrency is a new technology that is not backed by any government, but it is a legitimate form of currency. Cryptocurrency is anonymous, decentralized and secure. It’s also a great way to transfer funds between countries without the need for banks or traditional financial institutions like PayPal or Western Union.
There are many cryptocurrencies available today: Bitcoin, Litecoin, Dogecoin… there are even more than this! These cryptocurrencies have different protocols (rules) which govern them; however, most have similarities such as the fact that they are decentralized currencies which means there’s no single person or organization controlling them – instead these virtual currencies are held by everyone on their own computers around the world so no one person has control over all of these coins at once (although some people will hold onto large amounts of coins).
If you’re thinking about investing in cryptocurrencies then keep reading this article because I’ll explain everything you need to know before getting started with cryptocurrency trading today!
We think that cryptocurrency is a fascinating subject, and one that I hope will continue to grow. It’s not yet clear what the future of cryptocurrency holds, but it seems like it could be a serious contender in the world of finance. And if Elon Musk is right, we may see some truly incredible things with Dogecoin and Bitcoin in just a few years’ time!