Before the torque trading systems are used for cryptocurrency, there is a need to understand the properties of the various cryptocurrency so that you know how you to handle them while on the Torque system.

Irreversible

After a transaction has been confirmed, it cannot be in way, reversed by anybody. By that, it means, nobody. Not your bank, not you, not your miner. When you sent your money, that is the end, you have sent it. There is nobody to help you.  If you happen to send your money to a scammer, if the funds were stolen from your computer, there is nothing you can do about it. There is no safety net.

 Pseudonymous

Neither accounts nor transactions that are connected to the identities of the real world. When bitcoins are received on the address that is randomly chains of about 30 characters, that means you will not know the actual address. While it might be possible for the transaction to be analyzed, it is not possible to connect to the identity of the real world of users with the addresses.

Global and fast

The transactions are done instantly in the network, and confirmation is done within the shortest time possible. Since they do happen in a network of computers that is global, they tend to be indifferent to your real physical location. It does not matter if you are sending bitcoins to you neighbor or someone 40000 miles away.

Secure

Funds in the cryptocurrency are secure as they are locked using a public key in a cryptography system. It is only the owner that has the private key which is in a position to send the cryptocurrency. The magic of big numbers and strong cryptocurrency is what makes it impossible breaking in the scheme. A bitcoin address is very secure.

Permissionless

There is nobody that you need to ask permission to use your cryptocurrencies. It is a software which anybody is free to download for free. After it is installed, it is possible to send and receive the bitcoins or any other cryptocurrencies which you are dealing in. There is nobody who can prevent you from doing that.

Monetary property of cryptocurrency

Controlled supply

Most of the cryptocurrency which is available in the market have limited supply of their tokens. For bitcoin, the supply tends to decrease with time and and it is approximated that, it will come to its final numbers in 2140. All the cryptocurrencies do control their token supply by a schedule that is written in a code. It means that the cryptocurrency monetary supply in each moment in the near future can be calculated today.   You don’t expect to have any surprises.

No debt but bearer

A debt creates the fiat money that is in your bank account with the numbers appearing on your ledger being nothing but debts. It is an IOU system. For cryptocurrencies, they don’t represent debts but themselves. For you to be able to understand the revolutionary impact that crypocurrency has, you will have to consider both properties.

LEAVE A REPLY

Please enter your comment!
Please enter your name here