Steemit Crypto Academy //----Season 2----- // Learn About Cryptocurrency @darwinking

A big hello to my dear #steemit community today I am going to talk about the fundamental differences of cryptocurrencies and the traditional Fiat system also we are going to talk a little bit about what cryptocurrencies affect and what are the advantages of decentralization and how it can improve our lives in terms of mining we are going to talk a little bit about why we can't all be miners for different factors let's continue

1- What is the fundamental difference between cryptocurrencies and the conventional financial system?

1.1 The most relevant differences between cryptocurrencies are the following:

DECENTRALIZED VS CENTRALIZED

.

We know that cryptocurrencies are fully digital decentralized and centralized that are developed in a set of interconnected Nodes in the systems these carry the information and it is recorded in an open digital ledger forever this means that transactions are fully transparent and anyone can see them. investors are looking for something that suits their needs and is in their favor not against them so cryptocurrencies look very attractive to all of us.

This ecosystem of interconnected nodes forms a stable secure, fast and cheap ecosystem you don't have someone who is telling you what to do and what to do controlled systems are for traditional conventional systems so currently many people are taking advantage of this opportunity that is currently on the market in currencies is to buy.

Decentralization , Conventional System

.

I want to technically point out these are the major differences of cryptocurrency and traditional system the reason why people look a good interest in cryptocurrency is the confidence the interest and its constant growth is to take away the governments power to manipulate your money is your own money is not your own money is no one else's you handle everything instead in the traditional system there is not so much freedom, transactions are expensive and slow and you have to depend on the owner of the bank or a government to approve you transactions, in the decentralized you do not need permits or approval from any authority.

You don't need intermediaries

.

There is no owner or boss that controls the blokchain ecosystem transactions take place in the blockchain system are basically governed by miners who are the nodes that are connected to each other transactions are fast transparent and secure, miners are needed to approve the transfers and that there can be this great ecosystem. there are coins that are not mined these coins are usually centralized as the USDT that are guaranteed by a dollar value in vaults in centralized banks but these coins do not interest me to invest in them only to protect my capital.

transparency.

.

one of the great truths that distinguish cryptocurrencies from traditional centralized finance the blockchain technology and transactions are open for anyone to see the transactions with full transparency in the traditional centralized system you can not see the transactions this makes it impossible to talk about transparency when they have all your personal data.

1.2-But what characterizes cryptocurrencies over conventional financial systems?

Its anonymity its transparency and its speed of transfers without intermediaries are super imperative factors that must be taken into account before using any financial system, its use is totally unlimited security is the maximum has total control over the assets do not need any type of identity document to make transactions the only detail is that you must save your private keys very well because they are the only ones you will have if you lose them you will lose everything.

2-Why is a decentralized system needed?

For greater control of our capital and the unlimited use that has to be in a decentralized system allows you to keep money wherever you are with just having internet while a financial system you need ajero change currencies from one financial institution to another with a high % when you make the change losing money in this way in addition to time, in a decentralized system the assets are acquiring value over the years the market is volatile if but there are mechanisms to keep our assets in total control stable currencies are one of them protect us from the volatilized and work with the digital blockchain system.

According there are no barriers that determine our transactions this lightens the time to negotiate in addition to that you can buy with cryptocurrency anywhere in the world that accept these assets is 100% safe because it works in the network of nodes and basically all these are sending information separately which allows us a great interaction of the market and a great protection against attacks by malicious users who intend to steal.

3-What affects the value of cryptocurrencies?

Current events:

The news the markets the masses the influencers are people and factors that affect the value of an asset fear and greed are two other factors an example when we enter the market and we see that it is rising we think about buying everything because we feel it is going to the moon , or to Mars and it turns out that we do not see graphs or anything we get carried away by the feeling is the same when low and buy up we want to sell because we lose then the feelings are a major psychological factor that greatly affects the value of cryptocurrency and social networks often manipulate the market with this system of feelings and manipulation through FOMO news and other factors that influence then you could say that the influencers supported with any event, News, Catastrophe, Pandemic manipulate markets at their convenience.

Example of current events:

For example Elon Musk said he would no longer accept BTC in the exchange of his vehicles the market did what? it fell but why did it fall? because of collective fear of the masses that is why it is very important to stay calm follow a strategy and stay very open eyed in the crypto market.

Another news China says it will not allow trading with BTC in its financial companies. The people who did ? sold BTC out of fear but if we could see while those people sell and lose money others are taking this opportunity to buy more and buy large amounts because if you notice in the weekly BTC market chart the trend has not changed. see why fear is so psychological and manipulable hopefully you read this whoever you are and you can see the reality of the manipulation of the crypto markets.

Business interest :

facebook, twitter, paypal, tesla last year and this year have shown great interest in Bitcoin causing a significant increase in cryptocurrency prices which means that if facebook or any social network invest billions of dollars in cryptocurrencies they will go up in price.

Speculation:

as i said earlier this is one of the major factors influencing the market value of cryptocurrencies as i said earlier Elon Musk, major figures like president of CHINA is speculating that he will ban mining in china. this creates a big stir and makes the btc lose or gain value depending on the news given.

4-Why cryptocurrency transactions can be called more transparent?

They are more transparent for several obvious reasons one of them is that we can see the transactions in real time these are verified by a set of Nodes that are closely connected to a network of blocks this allows to solve the algorithms and thus pass the information to the blocks to remain forever in them this information is never lost for these and other reasons are more transparent this type of transactions.

As for the sending of assets token or coins as you want to call them you can do it at any time 24 hours a day, 7 days a week with access to your account positive balance you can send without problems using the method you prefer the most economical may be the TRON network for its higher speed and better rates of payment of gas very economical I recommend it is the one I use.

5Cryptocurrency in Venezuela

Currently we have a currency called PETRO this currency was designed by the government to be in the streets interacting with society but something very interesting happened they wanted to privatize a decentralized token this lost interest for the people and the government only uses it for their own benefit in the year 2018 this token called PETRO backed by oil with the law 302 of the Bolivarian constitution states that it is legal to sell petros backed by oil to any interested party and anywhere in the world this already makes clear for what is its use.

The facade was uncovered when they opened a government Exchange to trade but what currency can you buy but not sell? this has generated a great controversy nationwide losing the interest of users that each token has a value of approximately $68 and can be exchanged for BTC and other cryptocurrencies.

Mining in my country is currently legal if you have a specialized permit for this purpose which must be audited by government people you have to give addresses original identity documents and take out endless paperwork is currently very difficult because of the high costs that this requires so many people were given the task of mining illegally something that is a bit worrying and illegal.

Conclusion:

Sometimes i think that they should give more opportunity in the different countries so that the citizenship can mine or establish if it is in their budget a mining farm also allow the use of cryptocurrencies freely so that so the ecosystem is much bigger and this has more freedom, in this brought of research was talked about the decentralized and centralized systems their main characteristics and their influence in the society also how they manipulate the market how you should not be manipulated to sell or buy cryptos i hope this report can count with all the objectives very clear and clean. thank you very much.

Cc:
@levycore
@steemitblog
@steemcurator01
@steemcurator02

Thank you