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# Cryptocurrency
Cryptocurrency, or just *crypto*, is a digital, virtual (non-physical) currency used on the [Internet](internet.md) which uses [cryptographic](cryptography.md) methods (electronic signatures etc.) to implement a [decentralized](decentralized.md) system in which there is no authority to control the currency (unlike e.g. with traditional currencies that are controlled by the state or systems of digital payments controlled by the banks that run these systems). Cryptocurrencies use so called **[blockchain](blockchain.md)** as an underlying technology and are practically always implemented as [free and open-source software](foss.md). Example of cryptocurrencies are [Bitcoin](bitcoin.md), [Monero](monero.md) or [Dogecoin](dogecoin.md).
Cryptocurrency, or just *crypto*, is a digital, [cryptofascist](cryptofascism.md) virtual (non-physical) [currency](money.md) used on the [Internet](internet.md) which uses [cryptographic](cryptography.md) methods (electronic signatures etc.) to implement a [decentralized](decentralization.md) system in which there is no authority to control the currency (unlike e.g. with traditional currencies that are controlled by the state or systems of digital payments controlled by the banks that run these systems). Cryptocurrencies traditionally use so called **[blockchain](blockchain.md)** as the underlying technology and are practically always implemented as [FOSS](foss.md). Example of cryptocurrencies are [Bitcoin](bitcoin.md), [Monero](monero.md) or [Dogecoin](dogecoin.md).
The word *crypto* in *crpytocurrency* **doesn't imply that the currency provides or protects privacy** -- it rather refers to the cryptographic algorithms used to make the currency work -- even though thanks to the decentralization, anonymity and openness cryptocurrencies actually are mostly privacy friendly (up to the points of being considered the currency of criminals).
The word *crypto* in *crpytocurrency* **doesn't imply that the currency provides or protects "[privacy](privacy.md)"** -- it rather refers to the cryptographic algorithms used to make the currency work -- even though thanks to the decentralization, anonymity and openness cryptocurrencies actually are mostly "privacy friendly" (up to the points of being considered the currency of criminals).
[LRS](lrs.md) sees cryptocurrencies as not only unnecessary [bullshit](bullshit.md), but downright as an **unethical** technology because [money](money.md) itself is unethical, plus the currencies based on proof of work waste not only human effort but also enormous amount of electricity and computing power that could be spent in a better way. Keep in mind that **cryptocurrencies are part of [cryptofascism](cryptofascism.md)**; they're a way of digitizing harmful concepts existing in society. Crypto is just an immensely expensive game in which people try to fuck each other over money that have been stolen from the people.