BEGINNER 1.0
Evolution of money
Money has changed in this manner;
Trade by barter- gold- metal coin- Paper- plastic cards- emoney-crypto- defi
Evolution of money
Money has changed in this manner;
Trade by barter- gold- metal coin- Paper- plastic cards- emoney-crypto- defi
Money—in some form or another—has been part of human history for at least the past 5,000 years
Before that time, historians generally agree that a system of bartering was likely used
Before that time, historians generally agree that a system of bartering was likely used
Due to the need to understand currency which aids your understanding of in-depth gamics in finance, let's take a short look
The shift to paper money in Europe increased the amount of international trade that could occur.
The shift to paper money in Europe increased the amount of international trade that could occur.
Banks and the ruling classes started buying currencies from other nations and created the first currency market. The stability of a particular monarchy or government affected the value of the country's currency, and thus, that country's ability to trade on an increasingly
International market.
The competition between countries often led to currency wars, where competing countries would try to change the value of the competitor's currency by driving it up and making the enemy's goods too expensive, by driving it down and reducing the enemy's buying
The competition between countries often led to currency wars, where competing countries would try to change the value of the competitor's currency by driving it up and making the enemy's goods too expensive, by driving it down and reducing the enemy's buying
power (and ability to pay for a war), or by eliminating the currency completely.
Major example is economic wars between China and USA
Major example is economic wars between China and USA
Cryptocurrency Definition
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
Blockchain definition
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of
network of computer systems on the blockchain.
A quick history of bitcoin
said to be created in 2008,Bitcoin is a decentralized peer-to-peer electronic exchange. Breaking it down, this means people can send money directly to one another without a bank or third party.
A quick history of bitcoin
said to be created in 2008,Bitcoin is a decentralized peer-to-peer electronic exchange. Breaking it down, this means people can send money directly to one another without a bank or third party.
Bitcoin was created so people don't have to rely on government or financial institutions to make financial transactions. Bitcoin allows users to transact amongst themselves using the bitcoin blockchain, which relies on a “proof-of-work” method for tracking and verification of tx
Tx(transactions)
“astronomical growth punctuated by a few severe price retrenchments," says Peter C. Earle.
“astronomical growth punctuated by a few severe price retrenchments," says Peter C. Earle.
In February 2011, Bitcoin's price crossed the $1 threshold. "For its first few years as it grew, its price was under $2," says Marszalek, CEO of Crypto.com. "In June 2011, it hit its first bubble, rocketing to around $31 before sinking back down to the single-digit
Almost two years later, in April 2013, Bitcoin reached $200. By the end of November the same year, it was worth more than $1,000. It then rose to $10,000 in November 2017 and all the way up to its maximum price near $68,990 in November 2021. That's not to say it was a smooth ride
2017, Bitcoin was thought to be in a bubble, with investors paying a premium to own Bitcoin. The 2017-2018 bubble was primarily led by a boom in “initial coin offerings” or ICOs. Some market veterans compare the Bitcoin bubble to the internet boom at the end of the 20th century.
"Everyone from your next-door neighbor to the wealthiest hedge fund managers was talking about Bitcoin or some altcoin, new network/blockchain/chain/protocol or ecosystem,". "The ICO craze brought in billions of dollars into the crypto space.
Investors saw the value of coins fall dramatically in the early months of 2018 as prices crashed amid uncertainty, fraud and a lack of belief, among other psychological and technical factors."
After the fall of Bitcoin's value, what you could call a "more mature market" arose around the cryptocurrency. "Fidelity entered the custodian space, (and) national banks were given permission to custody digital assets," Furo says.
"Because of these developments, the market for Bitcoin has become relatively mature," as we speak "Smart and efficient exchanges exist, and core institutional-grade players are adopting the necessary measures to create a sustainable and viable market for the trading and investing
Bitcoin and other cryptocurrencies."
Other types of cryptocurrencies are grouped as “alt coins”, As you know today
Ethereum
Ripple
Ether classic
Solana
Near
And so many others varying as what utilities they serve.
Other types of cryptocurrencies are grouped as “alt coins”, As you know today
Ethereum
Ripple
Ether classic
Solana
Near
And so many others varying as what utilities they serve.
Why are cryptocurrencies the future for me... I'll rather you Google that and be left to your thoughts and imagination and believe
But note the life in itself is a risk so as every single steps your take!.
But note the life in itself is a risk so as every single steps your take!.
This a beginner's guide but its is going to be in your best interest to Google and do more studies, here is a Basic breakdown for easy assimilation during researches
Follow @Joeconceptss for 2.0
@Sui_Generis17 in this journey
🏂❤️
Follow @Joeconceptss for 2.0
@Sui_Generis17 in this journey
🏂❤️
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