Blockchain was invented by a person using the name Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin. The identity of Satoshi Nakamoto is unknown. The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has inspired other applications, and blockchains which are readable by the public are widely used by cryptocurrencies. Blockchain is considered a type of payment rail. Private blockchains have been proposed for business use. Sources such as the Computerworld called the marketing of such blockchains without a proper security model "snake oil"
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems.
The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.
Bitcoin Trading Basics
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CRYPTOCURRENCIES ARE THE PRECURSOR TO WEB 3.0!
Is Web 3.0 already here? It has not been implemented widely yet. The application of Web 3.0 is limited to blockchain and cryptocurrencies. However, it is believed that in the future, it will replace Web 2.0 completely. So, let us have a look at how Web 3.0 is represented now, and how investors can benefit from it.
Can a Government Seize Your Bitcoin?
A government can seize crime proceeds by taking control of the property to prevent its conversion, movement, disposition, or transfer. Most governments locate and restrain assets like cars, real property, cash, shares, jewelry, and boats that are easy to identify. But Bitcoin is digital and decentralized. Being virtual means, no institution administers or regulates it. It's also not available physically. And this raises legal and investigative challenges for the courts and law enforcement agencies.
In order to properly assess cryptocurrency, it would be beneficial for you to understand the basics of our current monetary system. Knowing the basics will give you a greater appreciation of this new form of money and hopefully a sense of urgency to get on board with the new paradigm.
For Bitcoin to function, nobody must trust anyone else. It was designed in such a way that no trust is required for it.
"Immutable" means "not able to be undone". Since we have already noted that cryptocurrency has no centralization or trust components, we need no longer rely on a third party to handle these matters. As a result, transaction records are made public and immutable (impervious).
Bitcoin: A Peer-to-Peer Electronic Cash System
October 31, 2008
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work.
"RUSH TO CRYPTO"
My life is such that I cannot produce "How To" videos at this time. So instead, I have selected some that I find will help you start your journey into economic self-reliance.
The primary objective of this site is to encourage or implore you to take control of your financial destiny and survive, if not thrive, in the upcoming economic paradigm shift. It is becoming more evident that the world is questioning the hegemony of the U.S. Dollar.
I highly recommend that you take the time to set yourself up to transition some of your wealth immediately. The reason being is that there is a learning curve involved. Plus, it takes days for your bank to integrate with coinbase.
Waiting any longer will delay your entry into the crypto space, putting you in possible economic uncertainty
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cryptos in exchanges or hot wallets!
On 03/17/2019 I checked my email and my two exchanges passwords were changed without my knowledge. Further research revealed my accounts had been compromised. Luckily I had my cryptos on my, cold wallet, Nano X and I did not lose my cryptos.
A photo of me and some Crypto friends!