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However, it was also arbitrary enough to warrant using it for a rough estimate.2 That leaves Bitcoin at about 0.4% of the estimated value of narrow money from The Money Project's report. The Money Project's estimate gives a good general idea of the size of the money supply relative to Bitcoin.
Serve as a platform Cryptocurrencies were the first platform developed using blockchain technology. Now, people have moved from the idea of a platform to exchange cryptocurrencies to a platform for smart contracts. The term ‘smart contracts’ has become somewhat of a catch-all phrase, but the idea can actually be divided into several categories: There are the ‘vending machine’ smart contracts coined in the 1990s by Nick Szabo.
As a second income, cryptocoin mining is not a reliable way to make substantial money for most people. The profit from mining cryptocoins only becomes significant when someone is willing to invest $3000 to $5000 in up-front hardware costs, at which time you could potentially earn $50 per day or more.
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