My understanding of Crypto Currency
THE PEOPLE
Mr. A and a group of other alphabets decide to have their own currency.
THE END (The Goal)
But to give it value, Mr. A and the other alphabets have to make sure that at least 23 of the existing 26 Alphabets in the English Language world, know, accept and use (transact with) this currency.
THE MEANS (The tools)
But for this currency to gain value, Mr. A and his group of other alphabets have to use tools like Airdrops, promotions online twitter and stuff, ICO, meet ups, integration of the currency into some other crypto systems, wallet integration thingy blah blah blah and some other activities to make the currency known, accepted and transacted with by at least 23 letters of the 26 letters in the English world.
PROFIT !?
For profit to be made,
Mr. A and the other alphabets + any other alphabet that decide to be part of this crypto business have to buy early into the beginning stages of the currency where demand and supply have little effect on the value of the currency.
Such that, if 1 of Mr A's currency is equal to N1000 today and an alphabet bought it today, if the "MEANS" are well applied, in 6 months or 2 years 1 of Mr A's currency would be equal to N10,000 that's like 1000% increase.
Now, the technology, on which this system is built; the reason Mr. A and his group of other alphabets can even think to create a currency is called- Blockchain
This is my take, from my research so far.
Please add or subtract were appropriate, I'm still learning.
KarlaGod
