Cryptoassets Summary in English
FREE book summary of Cryptoassets by Chris Burniske, Jack Tatar
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As more people use cryptocurrency, the value of these assets will increase like stock shares, the value of a cryptocurrency depends on supply and demand, but cryptocurrencies have additional variables that can affect their price.Bitcoin, for example, is classed as an intangible/transformable asset, an asset that isn't necessarily consumed but instead used to create something else.Cryptocurrencies are volatile assets because they’re tethered to a software system rather than an actual commodity like gold or oil. In the case of Bitcoin, the value of that underlying software is reflected through market demand for the coins themselves.In the same vein as gold and other precious metals, some are using cryptocurrencies to guard against the uncertainty of a volatile market. They buy tokens, hoping that the value will appreciate over time.Bitcoin is a cryptocurrency that is based on a distributed ledger technology (DLT), also called blockchain. As a result, it is decentralized, securing transactions and establishing trust among parties who do not know each other.
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