While I understand the concept of cryptocurrencies I don't understand how they ACTUALLY work and so far NOBODY has clearly explained how they actually work. To the best of my knowledge they are a code you have on your computer and that's it. How do you get that code? No one really knows, can't get it in a store, can't get it at your bank, can't pay with it when going to a store as it only works online, mining of some kind is involved but what mining, where, of what? No one really knows and how mining has ANYTHING to do with money? No one knows.
It really deserves its name of "CRYPTO" currency as in cryptic, sibylline, unclear, abstract etc...
So it soaring or crashing means very little to me.
EDIT: And I even forgot to talk about the value of a Bitcoin. To the best of my knowledge it's not traded in WallStreet or any other financial center so who decides how much a Bitcoin is worth every day? No one knows...
