2185 Coins as of May 17 2019
If you are following the Bitcoin price, you will note that all the coins emulating Bitcoin are worth a total of USD$223,304,859,934
These other 2185 wannabe coins are trying to jump on the Bitcoin wagon and go along for the ride. As Bitcoin goes up and down in value, these other "Crypto Currencies" also move up and down.
2185 crypto coins vary in value from thousands to pennies and each coin attempts to tell a tale of why you should buy their coin. If you have played the stock market, you will be familiar with "Penny Stocks" that are baby stocks or Juniors hoping to be on a stock exchange soon. These junior coins are organized into the Initial Coin Offering (ICO) similar to the Initial Public Offering (IPO) when a stock first appears into an exchange such as the DOW or TSE.
Each time you purchase some Bitcoin (BTC) or any other crypto currency, your transaction is recorded on a "Public Ledger" creating an audit trail that is followed by enterprising "Miners" who follow this ledger and record where the currency came from and where it was sent. So even though your own accountant or auditor may follow what you do with your money, this anonymous stranger records and verifies your Bitcoin transactions and gets paid a very small commission for authenticating what you did.
Given enough transactions each month, these miners can make USD$7 million dollars a day and worth investing in the very expensive mining (computer server) equipment needed to track each transaction.
These other 2185 wannabe coins are trying to jump on the Bitcoin wagon and go along for the ride. As Bitcoin goes up and down in value, these other "Crypto Currencies" also move up and down.
2185 crypto coins vary in value from thousands to pennies and each coin attempts to tell a tale of why you should buy their coin. If you have played the stock market, you will be familiar with "Penny Stocks" that are baby stocks or Juniors hoping to be on a stock exchange soon. These junior coins are organized into the Initial Coin Offering (ICO) similar to the Initial Public Offering (IPO) when a stock first appears into an exchange such as the DOW or TSE.
Each time you purchase some Bitcoin (BTC) or any other crypto currency, your transaction is recorded on a "Public Ledger" creating an audit trail that is followed by enterprising "Miners" who follow this ledger and record where the currency came from and where it was sent. So even though your own accountant or auditor may follow what you do with your money, this anonymous stranger records and verifies your Bitcoin transactions and gets paid a very small commission for authenticating what you did.
Given enough transactions each month, these miners can make USD$7 million dollars a day and worth investing in the very expensive mining (computer server) equipment needed to track each transaction.
