Purpose of the Bitcoin creation.
Genesis Block (Very first block) of the Bitcoin have a message in it that read as "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” and actually this is referring to the article of Times UK where banks are getting bailed out.
With Bitcoin as decentralized ,secured by network, allow peer to peer transaction , and keep you in full control of your Bitcoins(Do not lose your keys) , so message was stark contrast to what Bitcoin want to achieve and highlight the issue in current financial system.
By Bitcoin creation, power of creation of money (by Bitcoin mining) is open to all, since Block explorer shows every transaction, supply of money is known to all and by putting hard cap of 21 million Bitcoins , inflation of money supply is handled.
Learn with Authentic sources.
I am putting the screenshot from one of my favourite book "Mastering Bitcoin" that is actually free to read from the Github Edition this has cleared my various basic doubt that how the mechanism work.
Few of the doubts were cleared in the Development and technical Discussion Board of Bitcointalk which is frequented by Bitcoin Core developers and they reply on it and there are lot of other knowledgeable person that can clear your query.
Now with lot of crypto currency getting created and available in exchange and you will be wondering how you can learn about them , then I thin best way is to ask right question in their developer forum and also concentrate on finding the "real purpose behind the creation of the Cryptocurrency".
What is the purpose of Ethereum.
Ethereum is not only the coin but also the name of platform too and this platform allow development of various dapps on it and Ethereum smart contract is a real deal that Bitcoin was missing .
What is the purpose of Hive .
Hive is a DPoS (Delegated Proof of Stake) system where owner still have full control of it's asset but it can be delegated so that other user can derive the benefits from the ownership.
It also put world of crypto currency in web3 made by allowing monetization of the content.
It will be good to explore before investing in anything and doing due-diligence and once you have decided to invest then keep below factors on your mind.
Do not keep money in Exchange/web wallets.
If you purchased the coin, the first thing is to bring the coins/token to the wallet that is controlled by you and you hold the private of the wallet.
Also do not keep it on the web wallets where you also do not hold the private keys of the wallet.
Save your keys.
If you are keeping the money in your wallet then it is utmost necessary to save your "Private" keys and do not share them , If you share them then anyone that has access to the key will have full control on your money.
If you lose them then you will lose access to your funds and this is also not a favorable condition.
It is not hard to create tokens but a use case is.
When you invest in any crypto , keep in mind that "use case" and "purpose" of the assets because tokens can be created in abundant supply but how this abundant supply will bring value to the ecosystem and what problem it is solving in the ecosystem.
I hope that you have enjoyed it and will not be neglecting the due diligence aspects for any of your investments.
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