New to CryptoCurrency? How does Fiat money work? What is Crypto & this thing called blockchain? How do I get these magical $01011's?
Hey guys If you stumbled across this blog post then you'll be asking the question;
What in the WORLD is cryptocurrency and why in the WORLD do I keep hearing about it?!
You may have heard many of your friends making obscene amount of money from it, those forex traders from high school popping up in new lamborghinis all of a sudden and even reading investor's chronicle all you hear about is BITCOIN BITCOIN BIT-
So what is it all, and why is it taking the world by surprise?
Well the main reason is that this "digital money" cut's out the middle entity and third parties who more often than not are an interference to your A to B transaction. Every time you get paid from your job, you do not receive your money directly into your hands, it goes through what we all would comprehend as a bank. But that middle entity is in complete legal control of your money, and technically speaking can do what it (calling it "IT" because I don't think banks are humans) wants with it, it just has to agree to pay you back, when you want your money.
Now if we think about banks on a international scale, they technically are lending money out and creating a rise in expenditure- lots of people are now spending money! But when (should whenever they choose to) print more money (because it isn't backed by any sort of natural resource, gold, silver ECT.. only thin air) the interest rates rise and less people want to spend money causing a recession. This in fact lines the pockets of the bankers with fat stacks of YOUR hard earned cash!
"The purchasing power of the dollar has declined more than 96% from 1913 to 2010"
This is where CryptoCurrency steps in. With Crypto, you are (in simple terms) your own bank, you can send Digital money from A to B, one person to another without a middle man interfering (whether that be a bank, western union, a highwayman ect). And with most popular cryptocurrencies, such as Bitcoin, Ethereum, Dash ect, they are at a stage where you can store your coins on a cold storage wallet on YOUR computer or on YOUR phone. The Digital coin is sent though the computer using an internet connection and on a DECENTRALISED transparent network called "the blockchain" One of the great attributes to crypto is that the price is dictated by the public demand, and not driven higher all of a sudden by some old man in a mansion who decides to buy another 10 Bentleys. Banks and especially world banks who cause economic genocide, wars and the stealing of resources on a daily basis are scared of this because it goes against their current "business model" and they can't imbed an A to B style of business because it goes directly against the purpose of THEM. (lol)
So, there's many aspects of cryptocurrency for you guys to learn about, if I write all of them you'll be reading this blog post till next year.
However.. I've taken the time to make a FREE summarised Beginners guide [webinar] on Youtube, which I'm sure you will all be prolific at understanding what cryptocurrency is & after you finish the video.
Topic's covered are; Current banking, Fiat money, The blockchain, Altcoins, Storage, Buying and maintenance.
I've attached the video below.
Feel free to drop me a subscribe on Youtube, and I am always available for questions / comments / feedback. Every like, comment, suggestion goes a long way!
Youtube: https://tinyurl.com/yd83bnpc
Steemit: https://tinyurl.com/y77vyjeg @londonlemonade
If you are feeling generous, there are some crypto donation links in the video description, otherwise i'd appreciate it if you were to just upvote this post!
LL out.