WCP: Andreas Antonopolous "The Bitcoin Revolution"

A cryptocurrency is simply a digital or virtual currency that employs cryptography as an anti-counterfeiting measure. Unlike fiat currency -- which is issued by a central authority, is based on debts, and derives its value from people’s faith in the issuing government and the economy -- cryptocurrencies are “hard” money. They are not issued by a central authority, are not subject to government manipulation and do not represent debts; they are more like gold bars than dollar bills.

Cryptocurrency can be spent at a store, just like fiat currency, but unlike fiat currency, it is finite and can be traded, like a commodity. People do not hold onto dollar bills hoping they’ll increase in value. Many people purchase cryptocurrency as an investment, on which they hope to get a return.