What if somebody destroys part of digital currency?

What if somebody destroys part of digital currency?

When a person buys privately owned cryptocurrency like "Bitcoins" that thing is an investment in the eyes of the law. So that process is the same as buying other shares.

The difference between crypto- and digital currency is very small, cryptocurrency is privately made currency, what acts like share, what people can buy, and what they can sell back. Digital currency is the same thing, but that version of the virtual currencies has been shared by the central bank In this text cryptocurrency means privately owned currency or virtual currency. Digital currency means real digital money, which is shared and operated by the government-owned central bank.

Cryptocurrency can be used as the tender as well as normal currency, but the difference is that this kind of virtual money must not legally be accepted, and that requires special contracts between the holder of the rights of cryptocurrency. So that means that when a person pays by using cryptocurrency, that means that the person would sell shares of the cryptocurrency company to the hands of the deliverer of the merchandise. So legally cryptocurrency is not money.

Digital currency is money, and that is controlled by the central bank. That means that it is like the Euro or Dollar. And that means that paying with digital currency is the same as paying with the bank card. Cryptocurrency has no contact with normal money, and that means that it would operate out of the control of the banking system. The money that is invested in cryptocurrency is out of the normal markets, and there is one very dangerous thing in that kind of advantage. Cryptocurrency is a privately owned investment, which would not have similar protection with the money, which is shared by the central bank.

Nobody knows how much money lays in the bank accounts of the cryptocurrency companies.

If people would be panicked and change their cryptocurrency to the money, that thing can bring very much money to markets. And the thing, what can make that kind of thing possible is the threat of the computer virus, which can cause a threat that the data of cryptocurrency is destroyed.

There is one problem with the digital currency, and that is so-called, what-if scenario, where somebody would write the computer virus, and then equip that little bite of code by using the binary number, what is used to check the authenticity of the virtual money. This means that this kind of virus can slip in the system, which makes those currencies, and then destroy the entire database. This thing would make impossible to confirm the certification of the currency, and this thing can be the new type of financial weapon.

What if somebody destroys a very much currency by deleting the serial numbers of the banknotes from the central computer?

If we are thinking this weapon can destroy some parts of digital currency, and the effect would be like somebody destroys every single 100€ banknote from the world. That kind of erasing would remove a very large part of currency from the market, and this means that the value of the currency is rising.

So this kind of operation could be done also for some normal currency, which means that the databases, what are involving data of some value of the currency is deleted. This means that the value of the money would rise, and the loss of serial numbers means that the banknotes have ever been produced. If somebody wants to make this kind of operation, that person must ensure that the banknotes, where the operation would be targeted are not in the wallet of that person.

Image: https://www.dnaindia.com/analysis/report-understanding-the-concept-of-cryptocurrency-2820473

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