/biz/ - Business & Finance

>>49555037
>You really can't imagine any other use for sound digital money?
No, I can't, because a cryptocurrency is a KIND of digital money, not digital money in and of itself. See pic related.

"Cryptocurrency" commonly means a digital currency database that's collaboratively hosted on an online network that maintains state through a blockchain. Blockchains are inefficient and expensive relative to any other form of data storage we use because they're designed to solve one very specific problem (maintaining state on multiple machines that hate each other) at any cost. You pay a premium for that in terms of efficiency.

If I don't need/want my transaction to be private, I do not need a cryptocurrency and can use any other thing in pic related to send my money online. If I DO need/want it to be private, Monero covers that use case better than any other option, and so is the only cryptocurrency that's worth using.

But, yeah, unless you need to securely/anonymously send money online, you don't need crypto at all.