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The Water Cooler
General Discussion
Bitcoin, Ether Futures Rack up Nearly $200M in Liquidations on Short Squeeze
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<blockquote data-quote="Tanis143" data-source="post: 3809631" data-attributes="member: 43724"><p>Best way I can describe it is think of baseball cards but each card is unique and they are digital, not physical objects. Their value is in their rarity. They are also a form of digital currency that you can exchange for a set monetary value. That value is determined by the market. So to get a full bitcoin you have to pay around $20k for one, store it in a digital wallet (usually on an encrypted thumb drive) then either trade it to someone for something else or sell it back to the market for a profit.</p></blockquote><p></p>
[QUOTE="Tanis143, post: 3809631, member: 43724"] Best way I can describe it is think of baseball cards but each card is unique and they are digital, not physical objects. Their value is in their rarity. They are also a form of digital currency that you can exchange for a set monetary value. That value is determined by the market. So to get a full bitcoin you have to pay around $20k for one, store it in a digital wallet (usually on an encrypted thumb drive) then either trade it to someone for something else or sell it back to the market for a profit. [/QUOTE]
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The Water Cooler
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Bitcoin, Ether Futures Rack up Nearly $200M in Liquidations on Short Squeeze
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