Cryptocurrency - a digital currency or decentralized system of exchange that uses advanced cryptography for security. That’s the formal definition of cryptocurrency at least but does that really explain what this mysterious entity is all about and why so many are infatuated with it? Rob talks about cryptocurrency with Jerry Bowyer. This is MoneyWise Live - biblical wisdom for your financial decisions. Our guest is economist and MoneyWise contributor Jerry Bowyer and we make no bones about saying he’s our favorite economist because he has a knack for making complicated things easy to understand. Rob and Jerry cover these topics and questions:<ul><li>Do you think the definition we gave adequately explains what cryptocurrency is or would you add more to it?</li><li>The technology behind cryptocurrency extends beyond just the financial system then?</li><li>We get calls about investing in cryptocurrency all the time. Why do you think so many people are interested in it an how would you assess cryptocurrency as an investment?</li><li>Is cryptocurrency good for an inflation hedge?</li><li>What would it take for the dollar to be replaced?</li><li>When people talk about cryptocurrency, they usually mean Bitcoin - the 500-pound gorilla. How has Bitcoin performed over the past year? </li><li>Cryptocurrencies were seen as a godsend for many who were concerned about the loss of privacy but is that really the case?</li><li>So far, there’s been little interference from governments. How do governments view cryptocurrency?</li></ul>Next, Rob answers these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:<ul><li>If you are about to receive a settlement of $38,000, you just bought a house, you have a $15,000 auto loan that is $400 per month, you need a new oven, you have $45,000 in savings, you're receiving about $2,000 a month from Social Security, you're receiving about $3,000 from your husband's retirement and you have about $800 left over in a typical month, how do you prioritize things to pay off your car and truck and buy the things you need?</li><li>If you have about $65,000 you'd like to invest or at least place where you'd earn more, where should you go? Is The Solomon Foundation a good investment?</li><li>If you're 26 and you spent the first part of your life in poverty but now will be making what most would consider an enormous paycheck, what things should you do to make sure you maintain being a good steward of God's money? </li></ul>&lt;&lt;&lt; MoneyWise Market Update with Bob Doll &gt;&gt;&gt;<ul><li>What do you make of the sell-off of June 13th, 2022?</li><li>When you talk about the possibility of finally seeing THE bottom, how do you look at that in light of the possibility of a recession?</li><li>Let's say we're in a technical recession first half of next year, what would we typically see, peak to trough, in previous recessions that might be similar?</li><li>Anything on oil that might relate to where gas prices are going from here?</li><li>The Fed is meeting this week. Anything you're expecting from that?</li></ul>Be sure to check out the rest of MoneyWise.org to connect with a MoneyWise Coach or access our books and our many free helpful resources. You can also find us on Facebook (MoneyWise Media) and join the conversation. Thanks for your prayerful and financial support that helps keep MoneyWise on the air. And if you'd like to help, just click the Donate tab at the top of the page.

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Cryptocurrency … a digital currency or decentralized system of exchange that uses advanced cryptography for security -the formal definition but does it really explain what this mysterious entity is all about and why so many are infatuated with it?

Decrypting Cryptocurrency With Jerry Bowyer

FaithFi | Jun 14, 2022

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