It's not a stock, because you are not buying shares in any enterprise, It is actually online money although it is not the 'legal tender' of any government. You can transfer it directly to make purchases, etc. so by most definitions it really is money. If you want to compare it to something it is more like 'virtual gold, or silver..' Although it is not something you can hold in your hand, it has its own intrinsic value. It's backed by computer work, and the energy required to solve complicated cryptographic puzzles. There is no centralized entitly controlling it, the blockchain is maintained and verified mathematically, by duplicate copies carried on many thousands of different computers worldwide. Anyone can participate. Some call it "the people's money."
[–] nemestrinus [S] ago
It's not a stock, because you are not buying shares in any enterprise, It is actually online money although it is not the 'legal tender' of any government. You can transfer it directly to make purchases, etc. so by most definitions it really is money. If you want to compare it to something it is more like 'virtual gold, or silver..' Although it is not something you can hold in your hand, it has its own intrinsic value. It's backed by computer work, and the energy required to solve complicated cryptographic puzzles. There is no centralized entitly controlling it, the blockchain is maintained and verified mathematically, by duplicate copies carried on many thousands of different computers worldwide. Anyone can participate. Some call it "the people's money."
[–] thelma ago
I know ... but mucho risko IMO