No, No and No! I find it a fascinating subject though, although it does appear to be very complex and personally I would not touch it with a barge pole...below is a section I have copied and pasted from Investopedia which is one of the simpler explanations I have found;
' A cryptocurrency is a form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allows them to exist outside the control of governments and central authorities.
The word “cryptocurrency” is derived from the encryption techniques which are used to secure the network.
Blockchains, which are organizational methods for ensuring the integrity of transactional data, are an essential component of many cryptocurrencies.
Many experts believe that blockchain and related technology will disrupt many industries, including finance and law.
Cryptocurrencies face criticism for a number of reasons, including their use for illegal activities, exchange rate volatility, and vulnerabilities of the infrastructure underlying them. However, they also have been praised for their portability, divisibility, inflation resistance, and transparency.'
As far as I can understand, the biggest advantage of this type of currency is that it is 'decentralized' which means it is not managed/owned by any government and therefore is not affected by political conditions, of course the down side of that means it is unregulated and the potential for fraud, money laundering and crime is , in my small mind, enormous.
I like to balance my books regularly and know what's what...don't think I'll ne getting me crypto wallet out in Tesco's anytime soon
Your simpler explanation. left me baffled how can virtual currency be worth anything in reality. I need to know if I buy some..how long til i'm stinking rich
I'd love to go to tesco and try and pay in bitcoins
There is a lot to be said for being part of a group, and the support and friendship that is gained from this.