Cryptocurrencies

Question 1

cryptography

Answer 1

the use of complex codes to keep computer systems and information secure.

what can you tell us about cryptocurrencies? The word is a combination of crypto, from cryptography, which is to do with using clever software codes to protect computer information and systems, and currency, which is the money of a particular country. So cryptocurrency, very simply, means code money.

Question 2

currency

Answer 2

the money of a particular country.

a new player is joining the digital money system as Facebook have announced they are launching their own digital currency.
She says it’s not really a cryptocurrency because it’s actually backed up by a number of real currencies. So which currencies does she mention?

Question 3

cryptocurrency

Answer 3

digitally produced money that is not controlled by banks or governments.

you seem to know a fair bit about cryptocurrency actually…
you mentioned Bitcoin as being a well-known cryptocurrency. It was, in fact, the first cryptocurrency … .

Question 4

subject to the whims of

Answer 4

being controlled by unpredictable decisions and trends.
A whim is an unpredictable or irrational decision or trend and if you are subject to the whims of something, or someone, it means that metaphorically you are a passenger in a self-driving car which may decide just to drive off the edge of a cliff. So it might be an exciting ride, but it could end in disaster.

A cryptocurrency is normally subject to the whims of crypto markets, which are notoriously volatile, whereas Libra is kept stable by being backed up by a basket of currencies,

We then had the expression subject to the whims of. Whims are unpredictable decisions and if you are subject to them it means you can’t control them, you have no choice but to go in the direction those whims lead. Well, we are subject to the whims of the schedule which means our 6 minutes are up.

Question 5

notoriously volatile

Answer 5

well known for changing by a large amount in an unpredictable way.
Something that is volatile can change very quickly; stable, this is the opposite of volatile.

A cryptocurrency is normally subject to the whims of crypto markets, which are notoriously volatile, whereas Libra is kept stable by being backed up by a basket of currencies,

Question 6

stable

Answer 6

predictable and without big unexpected changes.

A cryptocurrency is normally subject to the whims of crypto markets, which are notoriously volatile, whereas Libra is kept stable by being backed up by a basket of currencies,
we are subject to the whims of the schedule which means our 6 minutes are up