Tag Archives: cryptocurrencies

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    An Everyman’s Guide To Understanding Cryptocurrencies

    What are they exactly? Why consider owning them?
    by charleshughsmith

    Friday, June 10, 2016, 9:51 PM

    17

    When an asset rises by almost 30% in a few weeks, it tends to attract attention.  Recently, that asset was bitcoin (BTC). The price of BTC in dollars rose from $454 on May 23 to $590 on June 6th.

    When an asset doubles in a matter of months, it tends to attract attention.  The cryptocurrency Ether (part of the Ethereum platform) doubled from around $7 in April to roughly $14 in early June.

    Are these cryptocurrencies mere fads? Or are they potentially game-changing alternatives to the conventional currencies such as the U.S. dollar, Chinese RMB, Japanese yen or European Union euro?

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