When people ask me: "What is Bitcoin" or "What is cryptocurrency?" my to go answer is: "There are two kinds of money. Old money and new money. Old money only exists outside of the internet, new money only exists inside of the internet."

There are currently hundreds of new types of money and you want to get the one that will catch on. The one that will catch on will have to function as new money ai ... it needs better properties than old money. This brings me to Bitcoin Cash, which is the best functioning new money on the market. Ethereum is not money but the smart contracts for the new money and Monero's ratio between privacy and transparency is to skewed in favor of privacy, which means they lose the cooperative oversight that is needed to keep trust in the system. Then there is Bitcoin Core which functions as a defunct old money system where you had gold (bitcoin) and paper IOU's (Lightning Network). In that system eventually the governments had all the gold and the citizens all the paper. Then the link between gold and paper was broken. Bitcoin Core is a money system we had before the current one. It's literally a step back in time. So you can't call it new money. I call it Naive Old Old Money, which also spells MOON backwards.

submitted by /u/Kain_niaK
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from Bitcoin - The Internet of Money http://bit.ly/2WrWhS2