Crypto Update !!!

If you are a crypto noob like me, you will often ask yourself: “When will I be able to upgrade my status to Crypto Pro?” Not anytime soon but maybe Crypto Noob 2.0 at least (gradually like how iPhone is always upgrading then branching into XR, Pro, mini, XS, and so forth)? It is so much more than knowing what various crypto terms/slang/lingo means; it means setting up your first crypto wallet, purchasing your first crypto (buh bye money), minting your first NFT, getting involved in topics centering around crypto, and more. To know the game, you got to play the game!

I still see stars at times when terms I do not know pop up during conversations, videos, or news; it is a long road. I belong to the Web 2.0 generation so Web 3.0 is not as easy as it looks. Now I fully comprehend (and deeply empathised with) what and how my parents feel — like a dinosaur. Prior to this, I penned an article defining some basic crypto terms (https://www.coinlive.com/news/detail/?id=7470) so I will focus on others in this. Everything is based on my subjective understanding as well as research done on the cryptocurrency realm.

Whether you’re juggling kids, work, and family life, or pursuing lifelong education, you’d know of the web. Even my grandfather, God bless his soul, had some kind of understanding of it and called it a place where you can type in something to find anything. The digital age was not all that much in the past compared to what we have now, which we sometimes do take for granted. Imagine a world without the internet, without the web; the HORROR! Before I dive into what Web2.0 and Web 3.0 is, what number comes before two? One, of course. Web 1.0, the first generation of the World Wide Web, was originally coined by Tim Berners-Lee in 1989 and is considered a read-only web. Web 2.0 or also called the “Social Web”, is simply the web as we know it today, which is completely interaction-based and conquered by internet giants like Google, Facebook, you name it. Unlike Web 2.0’s centralisation, surveillance, dupable advertising, and lack of transparency, Web 3.0 or simply just Web3, centres around ‘decentralisation’. In Web3, we get rid of intermediaries and become hands-on on everything ourselves. Bear in mind if you accidentally execute something wrongly, there are no customer service officers to let you complain to. Everyone is responsible for their own actions in Web3 as there is no reverse option in blockchain. So that’s the pros and cons of being decentralised. Now you finally have a chance to prevent Apple, Google, and even Facebook from collecting your precious data, but are you willing to make a change?

The differences between Web 1.0, Web 2.0, and Web 3.0

Now that we have established the basic underlying features of Web 2.0 and Web 3.0, let us continue to another two related terms that we see more often in the investing world, “bull” and “bear”, which are frequently used to refer to market conditions. When I first heard these terms, I thought I heard wrong. When I saw them being used in articles, I thought they were typos. How are these two very specific animals related to stocks, crypto, or even the market conditions? Did an actual bear or bull attack the market hence those terms? I had an “enlightenment-unlocked-under-a-waterfall” moment after doing some digging. “Bear” because it is thought to get its name from the way a bear attacks — by swiping its paw downward. While the bull attacks by shoving its horns up into the air, hence “bull market”. Then how would you define these two terms? A bear market is typically defined as a 20% drop from recent highs while a bull market is basically the opposite — defined as a 20% rise from the lows reached in a bear market.

source ( coinlive )