Cryptocurrency is a hot topic these days. Everyone is talking about it, but few people are explaining what it is or how it works.
When you don’t understand something, you can end up making bad decisions. So let’s talk about why you should be talking to Katie about cryptocurrency, and 5 reasons why you should be talking to Katie about cryptocurrency.
Let’s start with the question everyone asks: what is cryptocurrency?
Cryptocurrency has two parts: the currency (crypto) and the blockchain. The blockchain is just a record of transactions and can include information that isn’t part of the currency: who owns it, how much of it there is, when it was created, and so on.
You can think of the blockchain as a spreadsheet; one that records who owns what and when they bought or sold it. It doesn’t have to be big, but it has to accurately record all the transactions that have ever taken place on that blockchain. And so far every cryptocurrency has its own blockchain; bitcoin is just one example.
A cryptocurrency works like a bank account—subject to regulations like bank accounts—but instead of using money as the unit of account, cryptocurrencies use them as units of account for specific transactions only.
Like all currencies,
This blog is about why you should be talking to Katie about cryptocurrency. Maybe you’re thinking, “I’m not even sure what crypto is.” Or maybe you’re thinking, “I think crypto is a cool idea, but I’m afraid it’s too complicated for me.”
Don’t worry, I’ve got your back. Here are five reasons I think you should be talking to Katie about cryptocurrency.
1. Cryptocurrency Is Easy To Understand
Cryptocurrency is easy to understand because it’s the first time that a lot of people have had an opportunity to make money without having to work for it.
The internet changed the way we communicate, and now we can talk to each other in real-time. A lot of people are making money at this new thing called crowdfunding. Now they want to talk to you about it.
2. You Don’t Need To Know Any Programming Or Computer Science To Understand Crypto
This blog isn’t about how any technology works; that’s what the articles on How Does Bitcoin Work? are for. This blog is written by someone who can assure you that no matter how much programming or computer science experience you have, you don’t need any of it to understand cryptocurrency.
3. The Prices Of Cryptoc
Cryptocurrency is a hot topic these days, but few people know why it’s changing the world. For example, how many people know that Bitcoin is a cryptocurrency? Or that Ethereum and Litecoin are other popular cryptocurrencies? There’s a lot to learn and it may be hard to find all the information you’re looking for. This blog post is written to answer that question.
In this blog post I will show you five reasons why you should be talking to Katie about cryptocurrency. Here they are:
Reason 1: Cryptocurrency Is The Future
If you’re interested in cryptocurrency, there are a few things you should know before you talk to anyone else. This is the top 5 list of things that make cryptocurrency interesting, and why its appeal has spread so far.
The first reason is the one that’s most often quoted: Bitcoin is anonymous. Cryptocurrency is not like regular currency, because it’s decentralized. There’s no central bank or government to issue new money when the old supply runs out. You can’t create wealth just by printing more money, except for a few people who have a lot of computers locked up in data centers around the world.
The second reason is so obvious that it must be said: Bitcoin makes you free from government taxation and control. Because everyone can send money anywhere in the world instantly and privately, no one can stop you from sending money to your friends and family in other countries if they want to support them financially. As long as you pay your taxes when you buy goods and services in your own country, the government cannot use its influence over the rest of the world against you. There are now a lot of people who have no problem paying taxes because they don’t want to be under the thumb of their governments any more.
The third reason is less obvious: Bitcoin gives
I’m not going to tell you to buy bitcoin. I don’t understand it enough to make recommendations, and I’ve tried to learn a bit about it, but have no intention of buying any myself.
I will, however, tell you about some of the other cryptocurrencies that are worth looking into.
Top 5 Cryptocurrencies:
Litecoin: A cryptocurrency that is approximately one sixth the size of bitcoin and has a lower mining difficulty. Its faster transaction confirmations make it a great choice for online shopping and fast-paced trading. Ethereum: The second largest cryptocurrency by market capitalization after bitcoin. It is also the second most popular platform for initial coin offerings (ICOs). It was created in mid-2015 as a decentralized software platform on which developers can build and deploy applications. Ripple: The third largest cryptocurrency by market capitalization after bitcoin and ether. It was created in 2012 with the goal of using blockchain technology to transform global financial infrastructure. Dash: A cryptocurrency that is similar to bitcoin but has an added feature called “privacy”. This means that transactions are broadcasted instantly rather than recorded in a public ledger – making it impossible for anyone else to trace the source or destination of money used in each transaction. Monero: A privacy-oriented cryptocurrency launched
I did a lot of research on Bitcoin before I bought my first bitcoin in December. I knew the basics from reading about it but it was time to start being more informed and not just rely on what people told me. The main reason I bought bitcoin was because I felt that the technology was revolutionary, however as time has gone on, I have never been more happy with my decision to purchase.
Bitcoin is highly digital although it’s not a currency and is actually a cryptocurrency. It’s a method of payment for transactions and allows you to send money online to anyone in the world without restrictions. The technology behind Bitcoin is called Blockchain which is essentially an open ledger that records all transactions publicly so they are secure and can’t be altered or deleted by anyone. This technology has been described as both “a revolution” and “the biggest thing since the internet”.
With Bitcoin, there are no middle men, no banks; you don’t need to give them your personal information and you don’t need to pay any transaction fees; everything is completely secure through cryptography – it’s a brilliant concept. You receive bitcoins in your digital wallet when you buy them from other users via shops or websites which accept them as payment for goods or services.
People are beginning to see how beneficial this technology
Bitcoin is the first successful cryptocurrency. It is a massive success, with its value exploding by more than 1,000 percent in just over a year. It is a global phenomenon, with millions of people buying into it and hundreds of thousands of merchants accepting it as payment. The only other cryptocurrency that has gained any traction at all is Ethereum.
In 2018, there will be dozens of new cryptocurrencies. And some people are already talking about the next one. Which one will be the next Bitcoin? There are many problems that need to be solved before we can answer that question. For one thing, there are no generally accepted benchmarks for measuring the success of cryptocurrencies. What we have instead is weak evidence to suggest that some cryptocurrencies have succeeded and others haven’t. Maybe they failed because they were bad ideas or because they were badly executed or because they were overhyped or underhyped or because they had bad timing or because they’re just not very interesting at all.
If you want to find out which ones will succeed, it seems best to try holding some of them and see what happens. That’s what I did with Bitcoin and Ether (the second-biggest cryptocurrency) back in 2014 and 2015: I bought some of each and held them for a while.*