I want to show at least 100 people every month how to independently find their way around the cryptocurrency industry and rake in serious cash. If you are here, you can be sure that 2018 will make a remarkable difference in your life.
I will be starting from the basics so, if you are already a pro please just take it easy and allow the newbies to catch up till we get to the point that will benefit you.
I will be dropping the lessons please just take your time to read through each section and digest put down your questions and ask after I am done because most questions will be answered before I round up
This Section will be divided into 4
What Cryptocurrency is all about
Bitcoin what gives itValue and its Characteristics
How you and I can gain out of it!
One would wonder what is even this CRYPTO currency all about??
Crypto currency in a layman's term is a digital currency. You can't feel or touch it like fiat currency aka paper money.
Over decades, money has gone through evolution technology has changed alot of things.
Many years ago, if you have a message for someone who is living in a distance, like another town, state or even Street, you will have to travel down to see the person without even notifying the person. But thank God for technology, it started with writing letters to friends and loved once. We had different post offices around the world, which enables you to send letters to different places.
But over time, this also has changed with the evolution of email and telephone calls With your phone or email, you could get what ever information online or from someone in another state, town, country etc.
All this are possible through the internet to stop all these, you must have to stop the internet which is not possible!
This evolution has also taken place in the world of money,
Initially people do trade by batter, you give me yam in exchange for another food maybe Rice or beans etc
And it moved on to the use of cowries from cowries to coins and from coins to paper money (fiat) to credit and debit cards which is currently being used till this day.
But here comes another change in money It's called CRYPTO CURRENCY which I explained earlier that it's a digital money
We have different digital currencies, but the first among them is BITCOIN
Bitcoin is simply a digital currency otherwise known as cryptocurrency, it is created and held electonically, no one controls the process of bitcoin creation, millions of computers around the world runs a software that uses a mathematical algorith to control this process by following some specific rules that cannot be tampared with by anyone.
You will ask HOW DOES BITCOIN HAVE VALUE?? What is it Based On??
Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars. ... In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin. It is recognized and accepted as a currency by many.
Conventional currency has been based on gold or silver. Theoretically, you knew that if you handed over a dollar at the bank, you could get some gold back (although this didn’t actually work in practice). But bitcoin isn’t based on gold; it’s based on mathematics.
THEREFORE BITCOIN IS DEPENDENT ON DEMAND AND NOT SUPPLY.
CO'S THE TOTAL SUPPLY IS 21MILLION WHICH MAKES THE SUPPLY OF BITCOIN FIXED AND THE DEMAND RAPIDLY GROWING.
WITH THIS, BITCOIN BECOMES VERY VALUABLE AS MORE COMPANIES, COUNTRIES, INDIVIDUALS ADOPT AND ACCEPT ItSo What are the BITCOIN CHARACTERISTICS ?*
It's decentralized
The bitcoin network isn’t controlled by one central authority. Every machine that mines bitcoin and processes transactions makes up a part of the network, and the machines work together. That means that, in theory, one central authority can’t thinker with monetary policy and cause a meltdown – or simply decide to take people’s bitcoins away from them, as the Central European Bank decided to do in Cyprus in early 2013.
- It's easy to set up within seconds you can own a Bitcoin Account or Wallet.
It's anonymous - It's completely transparent
…bitcoin stores details of every single transaction that ever happened in the network in a huge version of a general ledger, called the blockchain. The blockchain tells all.
If you have a publicly used bitcoin address, anyone can tell how many bitcoins are stored at that address. They just don’t know that it’s yours.
Transaction fees are miniscule
Your bank may charge you a £10 fee for international transfers. Bitcoin doesn’t.
It’s fast
You can send money anywhere and it will arrive minutes later, as soon as the bitcoin network processes the payment.
It’s non-refundable
When your bitcoins are sent, there’s no getting them back, unless the recipient returns them to you. They’re gone forever.
Invest Safely. Peace