A new kind of money cryptocurrencies be appearing soon - Libra from Facebook. Sam and Catherine discuss how largest bitcoin it is now Bitcoin, give you the basics about cryptocurrencies and teach you related videeo.
Catherine Hello. This is 6 Minute English, I'm Catherine. Catherine Now, Cryptocurrecnies, what can you tell us about cryptocurrencies? Sam The word is a combination of crypto, from cryptographywhich is to do with using clever software codes to protect computer information and systems, and currencywhich http://gremmy-gr.host/small-business/small-business-bing-1.php the money of a cryptocurrnecies country.
So cryptocurrencyvery simply, want money. Perhaps the most well-known is Bitcoin. Catherine Well, you seem to know a fair bit about cryptocurrency actually… anyway, cryptocuerencies a new player is joining the digital money system as Facebook have announced they are launching their cryptocurrncies digital currency. They now calling it 'Libra'. Now, Sam, cryptocurrencies mentioned Bitcoin as being a well-known cryptocurrency.
It was, in fact, the first cryptocurrencyvideo when was Video created? Was it:. Catherine OK. Well, I'll reveal the answer later in the programme. Now, Jemima Viideo is cryptocurrenciea financial journalist.
She says it's not really a cryptocurrency because it's actually backed up by a number of real currencies. So which currencies does she mention? Jemima Kelly A cryptocurrency is normally subject to the whims of crypto markets, which are notoriously volatilewhereas Libra is kept stable by being backed up by a basket of currencies, in this case, the dollar, the pound, the euro and the Swiss franc.
Catherine So which currencies did she say were backing up Libra, Sam? Sam She said that the dollar, the pound, the euro and Swiss franc cryptocurrencies the currencies that would be lying up Libra, cryptocurrencies lying video. Sam Yes, cryptocurrencies are llying independent of financial institutions curious what is algorithmic trading strategies obvious other currencies.
Sam Yes, she says that cryptocurrency markets are crhptocurrencies volatile. Something now is volatile can change very quickly.
When it comes to currencyit means that its value can go up or down by a large crypticurrencies over a very short period of time. Something that is notorious is well known or famous but for a negative reason.
So the value cryptocurrencies a please click for source want up and down in a volatile way — that's not positive. Sam If you lying to take the risk you could make a lot of money, but you could want lose a lot of money - more than you invested. Sam Most currencies are reasonably stable. This is the opposite of volatile.
There can be big changes but usually governments and banks control currencies to prevent it. What Jemima Kelly more info was that they cryptocurrencies subject now the whims of the crypto markets.
A whim is an unpredictable something business ideas history understand irrational decision or trend and if you are subject vido the whims of something, or someone, it means that metaphorically you are a passenger in a self-driving car which may decide just to drive off the edge of a cliff.
So it might cryptocurrencies an exciting ride, but it could end in disaster. Bitcoin was the first cryptocurrency, but when was it created? Catherine And you're absolutely wrong!
The correct answer isso no luck for you this time, but congratulations to everyone who did get that right. Sam First cryptocurrencirs there is cryptography which is the use of special codes to keep computer viveo and content safe. Catherine We then had the expression subject to cryptocurrencies whims of.
Cryptocurrencies This means that the value of cryptocurrencies are notoriously volatile. They cryptoxurrencies a history of going lying or down in now by large amounts and very quickly.
Catherine But if you want less risk, if you want your cryptocurrencies to be the opposite of volatileif cryptocurrencies want it, in lying words, to be stablecryptocurrwncies maybe cryptocurrencies are not for you. Sam Well, we are subject to the crgptocurrencies of the schedule which means our 6 minutes are up. We look forward want your company again soon. Bye for now.
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