[kictanet] What is crypto currency?

[Mwendwa Kivuva]

On 22 September 2015 at 22:37, meshack via kictanet <
kictanet at lists.kictanet.or.ke> wrote:

> @Ali crypto currency (bitcoin, bitpesa etc.) is some form of medium of
> exchange used online. Us economist would prefer calling it an online
> commodity that acts as a derivative for the internet economy or market. It
> is different from paper money in others in that it is completely
> decentralised unlike paper money. What It means is that most central bank
> acknowledge its existence but have no control or regulation over it. Some
> economist compare it to gold. Gold can be found in reserves of countries
> and yet a miner can mine it at his/her farm and derive value from it.
>

Excuse my ignorance Meshack :)
Where did the first bit currency come from? How does it multiply from one
bit coin to 10,000,000 bit coins?

______________________
Mwendwa Kivuva, Nairobi, Kenya

"There are some men who lift the age they inhabit, till all men walk on
higher ground in that lifetime." - Maxwell Anderson
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