The whole idea of Cryptocurrency is to change the way the financial system works, and until we understand this, things will be unclear. The financial system is wired and programmed to make people work hard to make money and then the money will work hard to lose value, for instance, How can you explain this, a man worked and earned money for 45-65 years & still retired broke? You may say he didn't invest or he wasn't financially intelligent but that's just a small part of the problem.
The core problem is that money loses value over the years compared to cryptocurrency which gains value over the years no matter the type Fuelcoin, Edinarcoin, Litecoin, Swisscoin, Yocoin, Bitcoin etc. That in a nutshell is how cryptocurrency seeks to change the way the financial System currently works. The Government keeps printing money at will on the direction of President or the leader as the case may be in most countries of the world. This in effect causes inflation to rise and decreases the value of money in such countries.
A cryptocurrency is a medium of exchange like normal currencies such as Naira, USD, Pound Sterling, Euro, but designed for the purpose of exchanging digital information through a process made possible by certain principles of cryptography. Cryptography is used to secure the transactions and to control the creation of new coins. The first cryptocurrency to be created was Bitcoin back in 2009. Today there are hundreds of other cryptocurrencies.
Put another way, cryptocurrency is digital currency. Unlike centralized banking, like the Federal Reserve System, where governments control the value of a currency like USD through the process of printing fiat money (paper money), government has no control over cryptocurrencies as they are fully decentralized. Most cryptos are designed to decrease in production over time, like Bitcoin, which creates a market cap on them. That’s different from fiat currencies where financial institutions can always create more, hence inflation. Bitcoin will never have more than 21 million coins in circulation as programmed.
The technical system on which all cryptocurrencies are based on was created by Satoshi Nakamoto (a Japanese lad way back n 2008 ), while hundreds of different cryptocurrency specifications exist now, most are derived from one of two protocols; Proof-of-work or Proof-of-stake. All cryptos are maintained by a community of cryptocurrency miners who are members of the general public that have set up their computers or ASIC machines to participate in the validation and processing of transactions.
Simply put cryptocurrency is the future!!!
Putin’s Personal Trader Exposes How To Turn $10 To $100KRenegade Russian Analyst Reveals How To Turn $10 To $100KHave you seen this viral video?The Cryptocurrency Institute have released a video show casing the methods a Putin’s Cryptocurrency Traders uses to generate 10,000% ROI![Click here to watch this before it’s taken down]This is shocking.I didn’t believe this myself until I saw it.See for yourself.It will blow you away.
ReplyDelete