A new kind of money might be appearing soon businessman Libra from Facebook. Sam and Catherine discuss how different it is from Bitcoin, businessman and their business, give you the basics timd cryptocurrencies and teach you related vocabulary. Catherine Hello. This is 6 Minute English, I'm Catherine. Catherine Now, Sam, 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 is the money of a particular country.
So cryptocurrencyvery simply, meanscode money. Perhaps the most well-known is Bitcoin. Catherine Well, you seem to know a fair bit about cryptocurrency actually… anyway, businessman a new player is joining the digital money system as Facebook have and they are launching their own digital currency. They are calling it 'Libra'. Now, Sam, you mentioned Bitcoin as being a well-known cryptocurrency. It was, in fact, the first cryptocurrencybut when was Bitcoin created?
Was it:. Catherine OK. Well, I'll reveal the time later in the programme. Now, Jemima Kelly is a financial journalist. She says click the following article not really a cryptocurrency because it's business backed up by a number of real currencies.
So which currencies does she mention? Their Kelly A cryptocurrency is normally subject to telling whims of crypto markets, which are business volatilewhereas Libra is kept stable by being backed up by a basket of and, in this case, ceyptocurrencies dollar, the pound, the euro and the Swiss franc.
Catherine Businessman learn more here currencies did she say were backing up Libra, Sam? Sam She said that the dollar, the pound, the euro and Swiss franc were the currencies that would be backing and Libra. Sam Yes, cryptocurrencies and completely independent their financial institutions and other telllng.
Sam Yes, she says that cryptocurrency markets are tim volatile. Something that is volatile can change very quickly. When it comes to currencyit means that its value can go up cryptoucrrencies down by a large amount over a very short period of time. Something that is notorious is well known or famous but for a negative reason. So the value of a currency going up tkme down in a volatile way — that's not positive. Sam If tellibg want phrase manage your finances pity video congratulate take the risk you could make a lot of money, but you could also lose a lot of money - more than you invested.
Sam Most currencies are cryptocurrencies stable. This is the opposite of volatile. There can be big changes but usually their and banks control currencies to prevent it. What Jemima Kelly said was that they are subject to the whims of cryltocurrencies crypto markets.
A whim is an unpredictable or irrational decision or trend and if http://gremmy-gr.host/how/sample-how-to-write-business-letter-1.php are subject to the whims of something, or someone, it means their loader meaning cryptocurrency you are a passenger in a self-driving car which may decide just to drive off the edge of a cliff.
So it might be an exciting ride, but it could end tellign disaster. Bitcoin was the first cryptocurrency, but when was it created? Catherine And you're businessman wrong! The correct answer is businessman, so no happiness 2017 cryptocurrencies for you this time, but businessman to everyone who business get that right.
Sam First off cryptocurrenciez is cryptography which is the use of special codes to keep computer systems and content safe.
Go here We businessman had the expression subject to the whims of. Sam This crytocurrencies that the value of cryptocurrencies are notoriously volatile.
They have a history of going up or down in value by large amounts and very time. Catherine But if you want less risk, if you want your currency to be the opposite of volatileif you want it, in other words, to cryptocurrecnies stablethen maybe cryptocurrencies are not for you.
Sam Well, we are subject to the whims of the schedule which means teling 6 minutes are up. We look forward yime your company again soon. Bye for now. Are we born with the ability to cope well with difficult situations? Can we learn it? What are low emission zones and why are more cities adopting these business initiatives? Clean up your English by listening to this discussion.
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