Is the Stock Market the answer for you? Learn more:https://gum.co/VxJLm
A cryptocurrency is a new form of digital asset
- based on a network that is distributed across a large number of computers. This decentralized structure allows them to exist outside the control of governments and central authorities.
Blockchain - powerful technology that holds the system together
- Creates a trail and secures transaction history through multiple networks. Can’t double dip money or deny transactions
- Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.
“the greater fool” theory of investment
- Just like real currencies, cryptocurrencies generate no cash flow, so for you to profit someone has to pay more for the currency than you did.
Trying to cut out the middle man, banks. That’s a big bully to fight. Not as easy as the recent disruptions we’ve seen. Banks have ALWAYS gotten their cut.
Reasons it’s NOT time:
- cryptocurrencies are virtual and are not stored on a central database, a digital cryptocurrency balance can be wiped out by the loss or destruction of a hard drive if a backup copy of the private key does not exist
- ***Just the way we keep cash or cards in a physical wallet, bitcoins are also stored in a wallet—a digital wallet. The digital wallet can be hardware-based or web-based. The wallet can also reside on a mobile device, on a computer desktop, or kept safe by printing the private keys and addresses used for access on paper.***
Crypto exchanges are more susceptible to hacking than major stock exchanges
Data is a commodity, privacy is no longer valued. Therefore, a system built around privacy will take a paradigm shift to be accepted.
Banned in a few countries, no real public US application yet (city in Canada fully integrated)
Biggest downfall: Implicit Ban in China, top 2 major nation
Blockchain however, will be integrated much sooner than any practical uses for Crypto on a mainstream basis
Sources:
- https://www.investopedia.com/terms/c/cryptocurrency.asp
- https://en.wikipedia.org/wiki/Cryptocurrency#:~:text=A%20cryptocurrency%20(or%20crypto%20currency,of%20additional%20coins%2C%20and%20to
- https://www.nerdwallet.com/article/investing/cryptocurrency-7-things-to-know
- https://www.thestar.com/news/gta
FREE AUDIOBOOK
Instagram@marketadventurespodcast
Subscribe on Spotify, Apple Podcasts, or wherever you listen to your podcasts
Jointhesavings.club to get $5 towards your automatic savings account | Powered by Digit.co
