This question will be the first of many when introducing your loved ones to the world of Crypto/Cryptocurrency

For everyone thats here now, we know how much of a journey it was, and what we had to "unlearn" in order to increase the spread of understanding and education of those around us.  

For a lack of a better term we put ourselves through the pressure of learning something different and are now are hardened diamonds presenting the value to the world

So .....What is Cryptocurrency?

To be perfectly honest. its everything....and its nothing at the same time....

You dont physically hold it.....You cant touch it. but its there 

I can completely understand if that statement in itself ... makes you exit stage left from this article . But you're here for a reason.

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So...if you cant hold it and u cant touch it..what gives it any value?

That's the next question that should come out of anyone's mouth.

Crypto, in a broad sense, is a set of systems that operates in the background of our digital world

Its not just  MONEY MONEY MONEY 

Yes.... in this new way of moving money and transacting money there is plenty of money to be made but Crypto is More than that. this is why I separate crypto from the concept of cryptocurrency still...its 2 sides of the same coin  

From actual exchanges (think the stock market ) to buy and sell crypto assets available to all with a device with online access .

To Tracking shipments globally providing proof of origin and authenticity(To stop illegal counterfitting)

To actual collateralized lending and loans

To individuals actually taking physical items and creating a digital representation of said item that can be sold as proof of ownership..from artwork to actual property itself ( pretty neat right ?)

Oh and Professional athletes are actually beginning  to tokenize their professional sports contracts as well ( meaning get paid in cryptocurrecy)

and video games using Crypocurrency as in-game currency......these are all built on the Blockchain 

Block-Chain (noun)

*Blockchain is what crypto is built on 

Like the highways across the united states. 

-Think of it like transaction records in your bank, when you swipe your card to buy gas groceries etc, electronic record keeping takes place. changes the balance in your account( which is a computerized record of that purchase) 

* we as the user of the card.... dont really know how it actually works...but we know it works so its as normal as breathing ,same thing applies here.

So...Where did Crypto Start?

This question in itself is a massive tree with roots that began back in 2008. with the granddaddy of them all : Bitcoin 

-Birthed from anonymous origins this came about during the housing market crash
-The Concept itself was a novel one, Let go of the control of the few and put it in the hands of the many

-Its part store of value 

-BTC is non deflationary  (this means that there are only a cerain number of bitcoins that will every be created) this means a fixed amount to ever be created)

-Bitcoins are created through a process called "mining" mining is the process of solving a mathmatical problem with ( computing power) once a block is solved the computers that solved the problem are rewarded bitcoin

-Every 4 years built into its programming the diffculty of mining increases meaning less bitcoin rewards per block (stay with me you're doing great)

-The last bitcoin wont be mined until 2140 (but the majority of bitcoin will be mined well before then)what this does to the price is a natural progression upward  

-Its Decentralized meaning no single person controls bitcoin

-You cant shut it off 

-You cant shut it down, its like that saying...."Once its on the Internet. its there forever." same deal here

-The bitcoin network is global you cant duplicate transactions because transactions are confirmed globally

-Each transaction has a publicly viewed record 

With all of these transactions how are they tracked?

Well in my next blog ill go into details on how all these transactions are tracked logged and recorded on the blockchain.  Stay Tuned 

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Much love, Much Crypto

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