WEBVTT

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Gold has always been valuable because

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it's desirable and limited in quantity

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there's only so much gold in existence

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and sure you can take more out of the

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ground but the more time passes the

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harder and more expensive it is to find

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and mine gold the same way the value of

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crypto currencies such as Bitcoin lies

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in the fact that they're desirable and

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limited in quantity bitcoins are

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desirable because they facilitate

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transactions without middlemen such as

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banks or PayPal and there are lots of

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people willing to accept them

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other crypto currencies such as light

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corn are less widely used for

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transactions therefore less desirable

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crypto currencies are limited in

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quantity because there's usually a cap

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on how many can be mined for Bitcoin

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it's 21 million it varies from

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cryptocurrency to cryptocurrency

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cryptography is used to secure

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transactions and create new coins which

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are given as rewards to people who solve

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complex math problems simply put people

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invest processing power and electricity

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to receive coins and just like with gold

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mining gets harder and harder as time

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passes as a short recap two things make

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crypto currencies valuable desirability

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and their limited quantity bitcoin is

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currently the leader the gold of the

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cryptocurrency world whereas other

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currencies are runners-up like silver or

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copper