So you want to get into Crypto.. How wonderful.
To get into Crypto or Cryptocurrency, one must understand Crypto. To understand Crypto one must understand the Internet. This could get tricky so try to stay with me. I will try to simplify all of this as much as I can. First I would like for you to read Satoshi Nakamotos ₿itcoin Whitepaper. A Whitepaper is a report that is meant to help readers understand an issue, how they set out to solve the isssue, and outlines the road to accomplishing these objective(s).
(https://bitcoin.org/en/bitcoin-paper)
How wonderful. Right?
To make things simple; Bitcoin is a money system made by the people for the people of the World; on the Internet. And since money is a belief system, then Bitcoin will be money as long as the people continue to use and accept it as money. Did you know that in some places like Yap Island they currently use limestone discs for currency? If the people believe it's valuable then it will be used as money/currency. Did you know that at a point in history people used Gold and Silver Bars for currency? They even had these shiny rocks; diamonds and rubies that some accepted as a form of payment. Did you know that at a point in history people only traded goods and services for other goods and services? This was called the Barter System. This was the first monetary system.
Think: I'll give you 10 pounds of rice a month for 1 year if you help me build my house.
How wonderful. Right?
Guess what, Bitcoin is actually similar to the barter system. Of course that's just my opinion. The Barter system trades goods and services and Bitcoin is just that. It's a gateway to trading goods and services. The goods is money and the services is - being able to send this money without any restrictions and relatively low fees. This is huge. Now you can send money to a person in Australia from the United States without having to worry about banks, government intervention, credit unions, money services; which could be closed, or any restrictions. All from your phone.
How wonderful. Right?
Sending money is big business. I won't get into the numbers but Bitcoin and other Cryptocurrencies are being used every single day. To be clear, Bitcoin is a Cryptocurrency and there are other coins and tokens in the World and all are called Cryptocurrency. All other coins in the World are called Altcoin's. If it's not Bitcoin then it's an Altcoin. Some like to use the word "Shit coins." This term is used the same way your favorite Uncle calls you a "Shit head." He loves you and you love him but he gives you a hard time just because he's your Uncle.. We'll discuss the other "Shit coin" meaning later. Nonetheless, cryptocurrencies are all digital. Like the Internet; you cannot touch it and you cannot see it. There are many Cryptocurrencies that do similar things to Bitcoin and some even have their own unique features. These unique features are similar to the differences between an Apple Computer and a Computer running Linux, or even Windows. They are similar, but different in their own unique ways. These differences are what make up the other coins & tokens in the World. There is even a Crypto company similar to Netflix. Ever heard of Netflix? At a point in history not so many people knew of them. Soon the World will know these Crypto Companies. Some of these Companies have very bright futures.
How wonderful. Right?
Want to know how to buy these Companies Cryptocurrency coins and tokens? Stay tuned for my next post. I'll be going through a candid way of buying cryptocurrency from these Companies.
Thanks for reading.
-Mike
If you ever get lost; just Google it. I'll even recommend YouTube. Information is all around you. I am not a professional writer so I may lose you at times but feel free to reply and ask questions. No question is a dumb question if you don't know the answer.
Special shout out to @ BensDad on Twitter for the awesome Custom ₿ Artwork. Thank you.
