Cryptocurrencies, Money of the Future or the Future of Money


  • Nicoleta Veronica Burlacu


cryptocurrencies, money;, encryption


People have always had a complex relationship with money. Everyone seems to want to have as many as possible. Since the advent of the first coins, money has fascinated and subjugated mankind. Then there's gold, the "first love" of mankind that has caused many casualties. In the 19th century, the 19th-century gold rush, which became famous, changed lives, moved large crowds of people from place to place, enriched some, and made others miserable. But the fascination with this rare metal was sometimes stronger than any conservation instinct. Today the gold rush has been replaced by the cryptocurrency rush. Even the process by which they are obtained is similar, at least as a name: mining, only this time it is not mined in the bowels of the earth but on the internet. Cryptocurrencies, which are sometimes referred to as virtual currencies or digital money, are not really money, like dollars, pounds or euros. They are entirely digital, which means that they exist only online and are not supported by any state. Cryptocurrencies exist in databases with special rules that condition how they are offered to different people.


Ryan Farell: “An Analysis of the Cryptocurrency Industry”, Wharton Research Scholars, May 2015;

Arvin Narayanan, Joseph Bonneau, Edward Felten, Andrew Miller, Steven Goldfeder: “Bitcoin and Cryptocurrency Technologies, Draft, 6 October 2015;

Peter Aldred: “A Dummies Guide to Cryptocurrencies”, CreateSpace Independent Publishing Platform, 2016;

“Crypto-Currency Market Capitalizations”,, 26 January 2017.






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