The document provides recommendations for 4 cryptocurrency coins to hold for long-term profits:
1) Bitcoin (BTC) - The original cryptocurrency that is decentralized, borderless, and not controlled by any authority.
2) Ethereum (ETH) - Allows for smart contracts and decentralized applications, fueling growth in decentralized finance (DeFi) and non-fungible tokens (NFTs).
3) Cardano (ADA) - Aims to be a more sustainable blockchain than Ethereum using a proof-of-stake system and allowing new crypto tokens and applications.
4) Polygon (MATIC) - Seeks to address Ethereum's scalability issues and provides frameworks for interconnected blockchain networks.
Cryptocurrency-recommended coins and purposeswatt promj
Top 5 Cryptocurrencies - Recommended For Long-Term Investment
If you have no crypto assets yet, here are the coins I recommend for long-term holding, to make sure you end up making profits in time.
Although I am not giving financial advice, if I were to start investing
in crypto these days as a beginner, these 5 coins would be my picks considering each of the coins has a utility.
These coins will be around for the next 10-20 years at least. This means if you hold these coins for a long time, you will see gains as years go by. The longer you will hold these coins, the more money you will make, that goes without saying.
INTRODUCTIONCryptocurrency is a scheme that has been taking a .docxnormanibarber20063
INTRODUCTION
Cryptocurrency is a scheme that has been taking a lot of strength since 2009 and has penetrated all spheres of world economies. For many specialists, these coins considered the new revolution of the money and for many others, something that has no relevance and they tend to disappear, which itself can secure in this essay is that we are living significant changes, where everything takes real virtual importance to the development of trade electronic.
Just seven years since its launch has become Bitcoin virtual currency more. Essential for all transactions of goods and services, or currency market network, currently moving figures close to 440 million dollars per hour (coinmarketcap). Being a decentralized currency has great advantages and its Once disadvantages that capture the eyes of governments and central banks, there is the possibility that this money may come to replace traditional currency for any virtual transaction in the exchange of goods and services refers thanks their low transaction costs.
It is a new virtual currency, which begins to circulate in 2009 created by the developer pseudonym, Satoshi Nakamoto, of course, Japanese origin. Little is known about this person or persons who developed the protocol Bitcoin, since not known with certainty source from which they come, indeed considered that it was a group of people called genii mathematicians to create a currency based on a scheme peer-to-peer electronic cash system with cryptographic security. It is indicating that operations are user to user without entities centralized controlling issue. Therefore, a limited amount of this is determined equivalent to 21 million by the year 2033 Bitcoin currency due to its high and sophisticated level mathematical. So much so that in 2015 this pseudonym "Satoshi Nakamoto" obtains " award
innovation without limits "Granted by the average English communication" The Economist "By the invention capable of altering the traditional financial system.
Bitcoin is a decentralized currency without any global government body that regulates and control issue, have planted the following questions why use one comes intensifying each day despite the restrictions and discourage exerted by governments and central banks? Why is it essential that central states regulate the use of this type of coins? Why is Bitcoin considered source of investment? In addition to that if they are free
market forces that determine price, why other factors influence it? They are questions analyzed and to respond in the course of this trial. For the Suddenly, if you can ensure that this type of virtual currencies have enormous potential and that is for some global economies they are already studying how to create their currencies virtual to allow free virtual trade without restrictions.
Such has been the rise of this currency in many countries have implemented ATMs to convert money to local currency Bitcoin. Countries such as Germany, the United States, and Switze.
Project: Bitcoin - Revolution in International Payment ProcessingDinesh Kumar
Executive Summary
“Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value.” Eric Schmidt, Executive chairman Alphabet
Bitcoin is a digital, decentralized, partially anonymous currency, not backed by any government or other legal entity, and not redeemable for gold or other commodity. It relies on peer-to-peer networking and cryptography to maintain its integrity. Its proponents argue that Bitcoin has many properties that could make it an ideal currency for mainstream consumers and merchants. For example, bitcoins are highly liquid, have low transaction costs, can be used to send payments quickly across the internet, and can be used to make micropayments. This new currency could also hold the key to allowing organizations such as Wikileaks, hated by governments, to receive donations and conduct business anonymously.
Amazingly, as of October 2011, a bitcoin (currency ticker BTC) is worth about two U.S. Dollars (USD), there are about $20 million worth of bitcoins in existence, there are probably around 20,000 Bitcoin users, and over $300,000 worth of bitcoins are traded every day.
Although the Bitcoin economy is flourishing, users are anxious about Bitcoin’s legal status and the possibility of a government crackdown. Some point to Bitcoin’s ability, like all digital and anonymous currencies, to facilitate money laundering, tax evasion, and trade in illegal drugs and child pornography. Indeed, the U.S. government prosecuted and shut down the creators of e-gold, a digital currency backed by gold, under state and federal laws for conspiracy to commit money laundering, and also for providing services to those involved in “child exploitation, credit card fraud, and wire (investment) fraud”. Others point to governments’ purported interests in protecting their economies and monopolies on minting new money. These individuals point to the successful prosecution and conviction of the creator of the Liberty Dollar, a paper and coin based currency backed by gold and other precious metals.
Hence, no faith or trust towards the financers or politicians was required in case of Bitcoin, but only in Nakamoto’s well-designed algorithms. Not only the public ledger of Bitcoin, i.e. the ‘block chain’ seemed to fend off fraud, but also kept the money supply of Bitcoin growing at a predictable rate due to the prearranged release of the virtual currency. The Bitcoin network came into existence with the release of open source Bitcoin client and with the issuance of the first Bitcoin. Satoshi mined 18 the first 50 Bitcoin which are famously known as the “Genesis Block”.
In the same year the exchange rate of Bitcoin was first published by liberty standard at $1 for 1,309.03 BTC. Within a couple of years, around February 2011, Bitcoin achieved dollar parity and was now being accepted all over the world as a mode of payment for a plethora of products.
W3Coins makes earning money, monitoring income, paying bills, making purchases and even transferring funds, effortless and available to everybody through the use of mobile devices and laptops.
Unraveling the Bitcoin Breakthrough_ The Future of Cryptocurrency.pdfhk2635475
Cryptocurrency could be a buzzword that has been making waves for a long time presently . Among the different advanced monetary standards , Bitcoin is the foremost well known and widely used. It has been nearly 12 a long time since Bitcoin was to begin with , and it has come a long way since at that point . In a fairly long time , Bitcoin has gone from being a cloud concept to a worldwide wonder , and it has earned a parcel of consideration from investors, dealers , and indeed governments. In spite of this, there are still numerous people who are uncertain about how Bitcoin and other cryptocurrencies work, and what their future might hold. In this post, we'll dive into what Bitcoin is, how it works, and what long term cryptocurrency might seem like. From block chain innovation to the masters and cons of contributing in computerized cash , we'll cover everything you would like to know around the world of cryptocurrency.
The future of cryptocurrency—some challenges
As we gaze into our crypto ball, let’s see what the future of cryptocurrency has in store for traders. With many experts estimating that the 2020 COVID-19 pandemic has hastened the decline of cash by almost five years, few are asking whether digital currencies will actually succeed (they have already). Instead, it’s a matter of when they’ll go mainstream. Nevertheless, there are some challenges ahead.
Perceptions
A significant generational divide exists when it comes to adoption rates of cryptocurrencies. Older generations are typically more sceptical of crypto’s long-term viability, expressing fears about volatile financial bubbles as well as uncertainty over how cryptocurrencies actually work.
Cryptocurrency-recommended coins and purposeswatt promj
Top 5 Cryptocurrencies - Recommended For Long-Term Investment
If you have no crypto assets yet, here are the coins I recommend for long-term holding, to make sure you end up making profits in time.
Although I am not giving financial advice, if I were to start investing
in crypto these days as a beginner, these 5 coins would be my picks considering each of the coins has a utility.
These coins will be around for the next 10-20 years at least. This means if you hold these coins for a long time, you will see gains as years go by. The longer you will hold these coins, the more money you will make, that goes without saying.
INTRODUCTIONCryptocurrency is a scheme that has been taking a .docxnormanibarber20063
INTRODUCTION
Cryptocurrency is a scheme that has been taking a lot of strength since 2009 and has penetrated all spheres of world economies. For many specialists, these coins considered the new revolution of the money and for many others, something that has no relevance and they tend to disappear, which itself can secure in this essay is that we are living significant changes, where everything takes real virtual importance to the development of trade electronic.
Just seven years since its launch has become Bitcoin virtual currency more. Essential for all transactions of goods and services, or currency market network, currently moving figures close to 440 million dollars per hour (coinmarketcap). Being a decentralized currency has great advantages and its Once disadvantages that capture the eyes of governments and central banks, there is the possibility that this money may come to replace traditional currency for any virtual transaction in the exchange of goods and services refers thanks their low transaction costs.
It is a new virtual currency, which begins to circulate in 2009 created by the developer pseudonym, Satoshi Nakamoto, of course, Japanese origin. Little is known about this person or persons who developed the protocol Bitcoin, since not known with certainty source from which they come, indeed considered that it was a group of people called genii mathematicians to create a currency based on a scheme peer-to-peer electronic cash system with cryptographic security. It is indicating that operations are user to user without entities centralized controlling issue. Therefore, a limited amount of this is determined equivalent to 21 million by the year 2033 Bitcoin currency due to its high and sophisticated level mathematical. So much so that in 2015 this pseudonym "Satoshi Nakamoto" obtains " award
innovation without limits "Granted by the average English communication" The Economist "By the invention capable of altering the traditional financial system.
Bitcoin is a decentralized currency without any global government body that regulates and control issue, have planted the following questions why use one comes intensifying each day despite the restrictions and discourage exerted by governments and central banks? Why is it essential that central states regulate the use of this type of coins? Why is Bitcoin considered source of investment? In addition to that if they are free
market forces that determine price, why other factors influence it? They are questions analyzed and to respond in the course of this trial. For the Suddenly, if you can ensure that this type of virtual currencies have enormous potential and that is for some global economies they are already studying how to create their currencies virtual to allow free virtual trade without restrictions.
Such has been the rise of this currency in many countries have implemented ATMs to convert money to local currency Bitcoin. Countries such as Germany, the United States, and Switze.
Project: Bitcoin - Revolution in International Payment ProcessingDinesh Kumar
Executive Summary
“Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value.” Eric Schmidt, Executive chairman Alphabet
Bitcoin is a digital, decentralized, partially anonymous currency, not backed by any government or other legal entity, and not redeemable for gold or other commodity. It relies on peer-to-peer networking and cryptography to maintain its integrity. Its proponents argue that Bitcoin has many properties that could make it an ideal currency for mainstream consumers and merchants. For example, bitcoins are highly liquid, have low transaction costs, can be used to send payments quickly across the internet, and can be used to make micropayments. This new currency could also hold the key to allowing organizations such as Wikileaks, hated by governments, to receive donations and conduct business anonymously.
Amazingly, as of October 2011, a bitcoin (currency ticker BTC) is worth about two U.S. Dollars (USD), there are about $20 million worth of bitcoins in existence, there are probably around 20,000 Bitcoin users, and over $300,000 worth of bitcoins are traded every day.
Although the Bitcoin economy is flourishing, users are anxious about Bitcoin’s legal status and the possibility of a government crackdown. Some point to Bitcoin’s ability, like all digital and anonymous currencies, to facilitate money laundering, tax evasion, and trade in illegal drugs and child pornography. Indeed, the U.S. government prosecuted and shut down the creators of e-gold, a digital currency backed by gold, under state and federal laws for conspiracy to commit money laundering, and also for providing services to those involved in “child exploitation, credit card fraud, and wire (investment) fraud”. Others point to governments’ purported interests in protecting their economies and monopolies on minting new money. These individuals point to the successful prosecution and conviction of the creator of the Liberty Dollar, a paper and coin based currency backed by gold and other precious metals.
Hence, no faith or trust towards the financers or politicians was required in case of Bitcoin, but only in Nakamoto’s well-designed algorithms. Not only the public ledger of Bitcoin, i.e. the ‘block chain’ seemed to fend off fraud, but also kept the money supply of Bitcoin growing at a predictable rate due to the prearranged release of the virtual currency. The Bitcoin network came into existence with the release of open source Bitcoin client and with the issuance of the first Bitcoin. Satoshi mined 18 the first 50 Bitcoin which are famously known as the “Genesis Block”.
In the same year the exchange rate of Bitcoin was first published by liberty standard at $1 for 1,309.03 BTC. Within a couple of years, around February 2011, Bitcoin achieved dollar parity and was now being accepted all over the world as a mode of payment for a plethora of products.
W3Coins makes earning money, monitoring income, paying bills, making purchases and even transferring funds, effortless and available to everybody through the use of mobile devices and laptops.
Unraveling the Bitcoin Breakthrough_ The Future of Cryptocurrency.pdfhk2635475
Cryptocurrency could be a buzzword that has been making waves for a long time presently . Among the different advanced monetary standards , Bitcoin is the foremost well known and widely used. It has been nearly 12 a long time since Bitcoin was to begin with , and it has come a long way since at that point . In a fairly long time , Bitcoin has gone from being a cloud concept to a worldwide wonder , and it has earned a parcel of consideration from investors, dealers , and indeed governments. In spite of this, there are still numerous people who are uncertain about how Bitcoin and other cryptocurrencies work, and what their future might hold. In this post, we'll dive into what Bitcoin is, how it works, and what long term cryptocurrency might seem like. From block chain innovation to the masters and cons of contributing in computerized cash , we'll cover everything you would like to know around the world of cryptocurrency.
The future of cryptocurrency—some challenges
As we gaze into our crypto ball, let’s see what the future of cryptocurrency has in store for traders. With many experts estimating that the 2020 COVID-19 pandemic has hastened the decline of cash by almost five years, few are asking whether digital currencies will actually succeed (they have already). Instead, it’s a matter of when they’ll go mainstream. Nevertheless, there are some challenges ahead.
Perceptions
A significant generational divide exists when it comes to adoption rates of cryptocurrencies. Older generations are typically more sceptical of crypto’s long-term viability, expressing fears about volatile financial bubbles as well as uncertainty over how cryptocurrencies actually work.
CRYPTOCURRENCY :HOW IT'S WORK,ADVANTAGES AND DISADVANTAGES.pdfBharata chandra Sahu
INTRODUCTION OF CRYPTOCURRENCY
Currency, crypto- currency, crypto, or coin is a digital forex designed to work as a medium of trade via a pc community that isn't always reliant on any central authority, comparable as a authorities or bank, to uphold or hold it
Cryptocurrency, every now and then known as crypto- foreign money or crypto, is any shape of forex that exists digitally or almost and makes use of cryptography to invulnerable deals. Cryptocurrencies do no longer have a central issuing or regulating authority, alternatively the use of a decentralized machine to file offers and difficulty new units.
What Is Cryptocurrency?
A cryptocurrency is a digital or digital foreign money that is secured via cryptography, which makes it almost insolvable to pretend or double- spend. severa cryptocurrencies are decentralized networks grounded on blockchain science — a dispensed tally completed via a far-off community of computers. A defining factor of cryptocurrencies is that they're normally no longer issued by using any central authority, rendering them theoretically susceptible to authorities quandary or manipulation.
Cryptocurrency is a digital fee machine that does now not calculate on banks to corroborate deals. It’s a peer- to- peer machine that can allow each person somewhere to shoot and admit payments. alternatively of being bodily plutocrat carried round and modified in the actual world, cryptocurrency repayments stay in simple terms as digital entries to an on-line database describing particular deals. When you switch cryptocurrency finances, the offers are recorded in a public tally. Cryptocurrency is saved in digital holdalls .
The Cryptocurrency and Regulation of Official Digital Currency Bill 2021 is probably to be added in the downtime session of the Parliament. It's a invoice that would adjust Cryptocurrency in India. On December 7 2021, Finance minister Nirmala Sitharaman asserted that the the proposed Central Bank Digital Currency may not increase cryptocurrency in India.
Are Cryptocurrencies Legal?
Fiat currencies figure out their authority as mediums of sale from the authorities or monetary authorities. For illustration, every bone invoice is aided with the aid of the Federal Reserve.
But cryptocurrencies don't seem to be backed via any public or personal realities. thus, it has been subtle to make a case for their prison repute in exclusive fiscal authorities all through the world. It does no longer assist things that cryptocurrencies have generally labored outdoor utmost being fiscal structure. The prison repute of cryptocurrencies has counteraccusations for their use in diurnal offers and trading. In June 2019, the Financial Action Task Force( FATF) endorsed that line transfers of cryptocurrencies need to be problem to the prerequisites of its outing Rule, which requires AML compliance.
As of December 2021, El Salvador used to be the solely united states in the world to enable Bitcoin as criminal soft for monetary deals.
Traditional form of money involves bank fees and is controlled by the government. Though this financial
oversight is necessary to enable secure transactions the complexity has risen manifold. Most of the time this
complexity turns away a great idea from becoming a reality. Moreover, according to Businessweek, half of
the world doesn’t own a bank account and are happy with that. This makes lending money even more
difficult. Consequently, addressing societal problem becomes time consuming and difficult. With the rise of
mobile and internet, a new form of currency known as crypto currency is presenting a new, democratic way
of leveraging the power and reach of internet and mobile to solve poverty and unemployment. This
academic research paper will analyze the power of crypto currency specifically the Bitcoins to solve current
social issues by the growing breed of radical social entrepreneurs known as Bitpreneurs.
Why is china cracking down on cryptocurrenciesAmineLarhrib4
In this two-part article series, we will explore the world of cryptocurrencies, how different nations have reacted to the technological developments, and what the broader implications are for China and the rest of the world as a whole.
Will Bitcoin Become the First Monopoly in Global Decentralized Economy (2).pdfcoingabbar
The recent market movements in the industry have started the discussion on the future of centralized trade in cryptocurrencies. The concept of cryptocurrencies started with an aim of decentralizing money and giving back control to the masses. But as the market developed, centralized players strengthened their authority and the goal of decentralizing the power faded away in the glory of billions of dollars of unregulated money movement.
However, everyone in the industry woke up from their deep sleep when a heavy-weight centralized exchange got into dust in a matter of few days. It took the fall of FTX along with the loss of billions of customer funds to make us realize that decentralization is the true way for democratizing finance.
Amidst this chaos, the role of DeFi and Bitcoin becomes more important than ever. Bitcoin has always been the currency that has given a strong back to fall on during the roughest of bear markets. Even after the fall of FTX, investors shifted their focus to Bitcoin, leading it toward a potential monopoly in the DeFi ecosystem.
The Rise of Decentralization
Nobody has ever thought that the decentralization of money would ever be possible anytime soon. But things changed when blockchain innovation and cryptocurrencies came together to create a completely new economy. Decentralized finance is becoming the bedrock of internet trade, however, the majority of the crypto transactions still happen through centralized channels.
The present global DeFi market size was valued at $11.78 billion in 2021 and is expected to increase at a compound growth annual rate of 42.5% from 2022 to 2030. On the other hand, the fall of a leading centralized exchange has made people more aware of the fact that centralized cryptocurrency holdings are no better than holding money in your banks.
The cost of an unregulated and centralized crypto space only empowers the decision-makers of the platform to manipulate the money within their ecosystem. With no transparency whatsoever, the trust of the investors is shifting away from centralized exchanges to decentralized platforms.
From all the decentralized trading happening in the world, blockchain protocols are responsible for more than 45% of total transactions. This indicates the significance of cryptocurrencies and Bitcoin in the future of decentralized finance.
Bitcoin: The Pillar of Decentralized Trade
We live in a time when Bitcoin has become the synonym for decentralized trade in layman's terms. One can understand the significance of Bitcoin by the fact that its market capitalization has reached over $1.2 trillion during the last bull run. This is higher than the total market cap of cryptocurrencies right now.
Bitcoin blockchain network records a sum of over 250K transactions each day even after having an average throughput time of 40 minutes. Bitcoin has also been able to establish itself in 78 countries with 38K+ ATMs installed and working. South American country, El Salvador
The Coin Perspective can better comprehend the market cap potential of alternative coins according to The Coin Perspective. This is for you if you’ve ever wondered, “If coin X had the market cap of coin Y, what would it be worth?”
What is the next cryptocurrency to boom?
Calvaria (RIA) is a new cryptocurrency play that has the potential to soar in 2023. Reimagining Staking For Explosive Growth at Oryen Network. Exciting Meme Coin Project Pumping Since IEO: Tamadoge (TAMA). Metropoly – Crypto Presale with 5 Star Reviews and Expert Favorite.
What coin is most searched?
Global searches for bitcoin total more than 29 million each month. It has the highest market cap and is the most widely used coin.
A cryptocurrency is a type of digital currency that is created and controlled using sophisticated encryption methods, or cryptography. With the invention of Bitcoin in 2009, cryptocurrency made the transition from an intellectual concept to (virtual) reality.
While interest in Bitcoin grew over the years, it really came to the attention of investors and the media in April 2013, when it reached a record high of $266 per bitcoin after increasing by a factor of ten in just the previous two months.
At its height, Bitcoin’s market value exceeded $2 billion, but a 50% decline soon after triggered a heated discussion over the future of cryptocurrencies in general and Bitcoin in particular.
Will these alternative currencies eventually replace traditional ones and attain the same level of ubiquity as dollars and euros? Or are cryptocurrencies a short-lived trend that will soon fizzle out? Bitcoin contains the solution.
Future of Cryptocurrency
As institutional money joins the market, several economic analysts forecast a significant change in the crypto market. 3 There is also a chance that cryptocurrencies will be listed on the Nasdaq, which would lend blockchain and its potential applications as a substitute for traditional currencies even more credibility.
Some claim that a confirmed exchange traded fund is all that cryptocurrency needs (ETF). 5 There is little doubt that an ETF would make it simpler for people to invest in Bitcoin, but there still needs to be a demand for cryptocurrency investments, which may not be produced automatically by a fund.Future of Cryptocurrency
As institutional money joins the market, several economic analysts forecast a significant change in the crypto market. 3 There is also a chance that cryptocurrencies will be listed on the Nasdaq, which would lend blockchain and its potential applications as a substitute for traditional currencies even more credibility.
Some claim that a confirmed exchange traded fund is all that cryptocurrency needs (ETF). 5 There is little doubt that an ETF would make it simpler for people to invest in Bitcoin, but there still needs to be a demand for cryptocurrency investments, which may not be produced automatically by a fund.
Research Paper
Dr Daniel Barreto's class: Leading Trends in IT.
Grade: 97%
Co-written by Christina Rentschler, Victor Gardrinier and Dean Rauschenbusch.
Date: 08/2017
This briefing on the future of money is the first in a series of explorations on the future of global systems; including industries, sectors and economies.
A tide of technology — cryptocurrencies, P2P economies, payment APIs — is reshaping the world before our very eyes. We rarely memorize, wait in line, rewind, unfold, print or phone anymore. There has never been a better time to map the phenomenon of human innovation, and there is no better place to start with than with money.
Impact of cryptocurrency on Economy - India and Global. This has been taken from several online sources. References mentioned at the end of the article. A cryptocurrency is digital money in an electronic payment system in which payments are validated by a decentralized network of system users and cryptographic protocols instead of by a centralized intermediary (such as a bank).
Money serves three interrelated economic functions: it is a medium of exchange, a unit of account, and a store of value. Without it, people would have to engage in a barter economy, wherein people trade goods and services for other goods and services.
There are speculations on whether cryptocurrency will be more efficient and secure than existing money systems or if it can effectively act as money and achieve widespread use. However, that is the not primary focus of the article.
BITCOIN: A 21ST CENTURY CURRENCY EXPLAINED BY A WALL STREET VETERANSteven Rhyner
It was even predicted by Nobel Prize-winning economist Milton Friedman in 1999 when he said, "The one thing that’s missing, but will soon be developed, is a reliable e-cash."
A Comprehensive Guide to Digital Currency for Americans 🌐💰
Slide 1: Introduction 🚀
- Title: Navigating Digital Currency: A Comprehensive Guide for Americans 🇺🇸
- 📌 Welcome to our in-depth exploration of digital currency and its relevance for Americans.
Slide 2: Understanding Digital Currency 💡
- Definition and Core Characteristics of Digital Currency 💻💲
- How It Contrasts with Traditional Currencies 🏦🌍
- 🌟 Examples: Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, Tether
Slide 3: The Advantages of Digital Currency 🙌
- Key Advantages of Digital Currency 💪📈
- Decentralization, Security, Anonymity, Accessibility, Lower Transaction Fees, Faster Transactions 🌐🔒🤐💼💰
Slide 4: Demystifying Digital Currency Operations 🛠️
- The Power of Blockchain Technology 🧱🔗
- Unveiling Mining, Digital Wallets, Transactions, and Value Dynamics 🛒🔐💸
Slide 5: A Glimpse into Digital Currency's Past 📜
- Digital Currency's Evolution: From Bitcoin's Birth in 2008 🎂
- Key Historical Milestones and Early Adoption 🚀🕰️
Slide 6: Navigating the Legal and Regulatory Landscape 🏛️
- Global Perspectives on Digital Currency Regulation 🌍📜
- Taxation, Anti-Money Laundering, Fraud, and Consumer Protection Challenges 🏦🚫💼🔒
Slide 7: Your Path to Digital Currency Investment 📈
- Step-by-Step Guide for Entering the Digital Currency Arena 💹💡
- Selecting an Exchange, Account Creation, Funding, Asset Selection, Trading, and Secure Storage 💼🔐🌐
Slide 8: Risks and Rewards 💰🌪️
- Navigating Digital Currency's Risks 🌊🚫
- Highlighting the Rewards, From Cross-Border Innovations to DeFi Opportunities 🏦🌐
Slide 9: The Role of Digital Identity 📄🔒
- Protecting Your Financial Identity with Digital Tools 🛡️📲
- Streamlining Regulatory Compliance with Digital Identity 📊👤
Slide 10: Environmental Considerations 🌱🌍
- Unpacking the Environmental Impact of Digital Currency 🌏🔌
- From Energy Consumption and Carbon Emissions to Sustainable Solutions 🍃🏭🤝
Slide 11: In Conclusion 🎯✨
- A Recap of the Digital Currency Journey 🌐💼
- Embracing the Challenges and Possibilities 🤝💼
- Envisioning a More Equitable and Prosperous Financial Future 💰🌈
Slide 12: Your Questions, Our Answers 🤔❓
- Opening the Floor for Engaging Discussions and Queries 🗣️💬
Slide 13: Get in Touch 📬🤝
- Contact Information for Further Conversations and Clarifications 📞📧
Slide 14: A Grateful Farewell 🙏🌟
- Expressing Our Appreciation for Your Participation and Interest 🙌👏
Thank you for joining us on this exciting journey through the world of digital currency! 🚀🌐💲
WHEN WILL DIGITAL CURRENCIES REPLACE TRADITIONAL MONEY? EXPLORING THE FUTURE OF GLOBAL FINANCE.
The advent of the digital age has revolutionized various aspects of our lives, from the way we communicate and consume media, to how we shop and even conduct our financial transactions. One prominent product of this digital revolution is the emergence of digital currencies, a new form of money that exists solely in the digital space. With the creation of Bitcoin in 2009, the concept of decentralized, digital money not controlled by a central authority entered mainstream awareness, and since then, the interest in and use of digital currencies has grown exponentially. This brings us to the central question this article aims to answer: when will digital currencies replace traditional money?
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
CRYPTOCURRENCY :HOW IT'S WORK,ADVANTAGES AND DISADVANTAGES.pdfBharata chandra Sahu
INTRODUCTION OF CRYPTOCURRENCY
Currency, crypto- currency, crypto, or coin is a digital forex designed to work as a medium of trade via a pc community that isn't always reliant on any central authority, comparable as a authorities or bank, to uphold or hold it
Cryptocurrency, every now and then known as crypto- foreign money or crypto, is any shape of forex that exists digitally or almost and makes use of cryptography to invulnerable deals. Cryptocurrencies do no longer have a central issuing or regulating authority, alternatively the use of a decentralized machine to file offers and difficulty new units.
What Is Cryptocurrency?
A cryptocurrency is a digital or digital foreign money that is secured via cryptography, which makes it almost insolvable to pretend or double- spend. severa cryptocurrencies are decentralized networks grounded on blockchain science — a dispensed tally completed via a far-off community of computers. A defining factor of cryptocurrencies is that they're normally no longer issued by using any central authority, rendering them theoretically susceptible to authorities quandary or manipulation.
Cryptocurrency is a digital fee machine that does now not calculate on banks to corroborate deals. It’s a peer- to- peer machine that can allow each person somewhere to shoot and admit payments. alternatively of being bodily plutocrat carried round and modified in the actual world, cryptocurrency repayments stay in simple terms as digital entries to an on-line database describing particular deals. When you switch cryptocurrency finances, the offers are recorded in a public tally. Cryptocurrency is saved in digital holdalls .
The Cryptocurrency and Regulation of Official Digital Currency Bill 2021 is probably to be added in the downtime session of the Parliament. It's a invoice that would adjust Cryptocurrency in India. On December 7 2021, Finance minister Nirmala Sitharaman asserted that the the proposed Central Bank Digital Currency may not increase cryptocurrency in India.
Are Cryptocurrencies Legal?
Fiat currencies figure out their authority as mediums of sale from the authorities or monetary authorities. For illustration, every bone invoice is aided with the aid of the Federal Reserve.
But cryptocurrencies don't seem to be backed via any public or personal realities. thus, it has been subtle to make a case for their prison repute in exclusive fiscal authorities all through the world. It does no longer assist things that cryptocurrencies have generally labored outdoor utmost being fiscal structure. The prison repute of cryptocurrencies has counteraccusations for their use in diurnal offers and trading. In June 2019, the Financial Action Task Force( FATF) endorsed that line transfers of cryptocurrencies need to be problem to the prerequisites of its outing Rule, which requires AML compliance.
As of December 2021, El Salvador used to be the solely united states in the world to enable Bitcoin as criminal soft for monetary deals.
Traditional form of money involves bank fees and is controlled by the government. Though this financial
oversight is necessary to enable secure transactions the complexity has risen manifold. Most of the time this
complexity turns away a great idea from becoming a reality. Moreover, according to Businessweek, half of
the world doesn’t own a bank account and are happy with that. This makes lending money even more
difficult. Consequently, addressing societal problem becomes time consuming and difficult. With the rise of
mobile and internet, a new form of currency known as crypto currency is presenting a new, democratic way
of leveraging the power and reach of internet and mobile to solve poverty and unemployment. This
academic research paper will analyze the power of crypto currency specifically the Bitcoins to solve current
social issues by the growing breed of radical social entrepreneurs known as Bitpreneurs.
Why is china cracking down on cryptocurrenciesAmineLarhrib4
In this two-part article series, we will explore the world of cryptocurrencies, how different nations have reacted to the technological developments, and what the broader implications are for China and the rest of the world as a whole.
Will Bitcoin Become the First Monopoly in Global Decentralized Economy (2).pdfcoingabbar
The recent market movements in the industry have started the discussion on the future of centralized trade in cryptocurrencies. The concept of cryptocurrencies started with an aim of decentralizing money and giving back control to the masses. But as the market developed, centralized players strengthened their authority and the goal of decentralizing the power faded away in the glory of billions of dollars of unregulated money movement.
However, everyone in the industry woke up from their deep sleep when a heavy-weight centralized exchange got into dust in a matter of few days. It took the fall of FTX along with the loss of billions of customer funds to make us realize that decentralization is the true way for democratizing finance.
Amidst this chaos, the role of DeFi and Bitcoin becomes more important than ever. Bitcoin has always been the currency that has given a strong back to fall on during the roughest of bear markets. Even after the fall of FTX, investors shifted their focus to Bitcoin, leading it toward a potential monopoly in the DeFi ecosystem.
The Rise of Decentralization
Nobody has ever thought that the decentralization of money would ever be possible anytime soon. But things changed when blockchain innovation and cryptocurrencies came together to create a completely new economy. Decentralized finance is becoming the bedrock of internet trade, however, the majority of the crypto transactions still happen through centralized channels.
The present global DeFi market size was valued at $11.78 billion in 2021 and is expected to increase at a compound growth annual rate of 42.5% from 2022 to 2030. On the other hand, the fall of a leading centralized exchange has made people more aware of the fact that centralized cryptocurrency holdings are no better than holding money in your banks.
The cost of an unregulated and centralized crypto space only empowers the decision-makers of the platform to manipulate the money within their ecosystem. With no transparency whatsoever, the trust of the investors is shifting away from centralized exchanges to decentralized platforms.
From all the decentralized trading happening in the world, blockchain protocols are responsible for more than 45% of total transactions. This indicates the significance of cryptocurrencies and Bitcoin in the future of decentralized finance.
Bitcoin: The Pillar of Decentralized Trade
We live in a time when Bitcoin has become the synonym for decentralized trade in layman's terms. One can understand the significance of Bitcoin by the fact that its market capitalization has reached over $1.2 trillion during the last bull run. This is higher than the total market cap of cryptocurrencies right now.
Bitcoin blockchain network records a sum of over 250K transactions each day even after having an average throughput time of 40 minutes. Bitcoin has also been able to establish itself in 78 countries with 38K+ ATMs installed and working. South American country, El Salvador
The Coin Perspective can better comprehend the market cap potential of alternative coins according to The Coin Perspective. This is for you if you’ve ever wondered, “If coin X had the market cap of coin Y, what would it be worth?”
What is the next cryptocurrency to boom?
Calvaria (RIA) is a new cryptocurrency play that has the potential to soar in 2023. Reimagining Staking For Explosive Growth at Oryen Network. Exciting Meme Coin Project Pumping Since IEO: Tamadoge (TAMA). Metropoly – Crypto Presale with 5 Star Reviews and Expert Favorite.
What coin is most searched?
Global searches for bitcoin total more than 29 million each month. It has the highest market cap and is the most widely used coin.
A cryptocurrency is a type of digital currency that is created and controlled using sophisticated encryption methods, or cryptography. With the invention of Bitcoin in 2009, cryptocurrency made the transition from an intellectual concept to (virtual) reality.
While interest in Bitcoin grew over the years, it really came to the attention of investors and the media in April 2013, when it reached a record high of $266 per bitcoin after increasing by a factor of ten in just the previous two months.
At its height, Bitcoin’s market value exceeded $2 billion, but a 50% decline soon after triggered a heated discussion over the future of cryptocurrencies in general and Bitcoin in particular.
Will these alternative currencies eventually replace traditional ones and attain the same level of ubiquity as dollars and euros? Or are cryptocurrencies a short-lived trend that will soon fizzle out? Bitcoin contains the solution.
Future of Cryptocurrency
As institutional money joins the market, several economic analysts forecast a significant change in the crypto market. 3 There is also a chance that cryptocurrencies will be listed on the Nasdaq, which would lend blockchain and its potential applications as a substitute for traditional currencies even more credibility.
Some claim that a confirmed exchange traded fund is all that cryptocurrency needs (ETF). 5 There is little doubt that an ETF would make it simpler for people to invest in Bitcoin, but there still needs to be a demand for cryptocurrency investments, which may not be produced automatically by a fund.Future of Cryptocurrency
As institutional money joins the market, several economic analysts forecast a significant change in the crypto market. 3 There is also a chance that cryptocurrencies will be listed on the Nasdaq, which would lend blockchain and its potential applications as a substitute for traditional currencies even more credibility.
Some claim that a confirmed exchange traded fund is all that cryptocurrency needs (ETF). 5 There is little doubt that an ETF would make it simpler for people to invest in Bitcoin, but there still needs to be a demand for cryptocurrency investments, which may not be produced automatically by a fund.
Research Paper
Dr Daniel Barreto's class: Leading Trends in IT.
Grade: 97%
Co-written by Christina Rentschler, Victor Gardrinier and Dean Rauschenbusch.
Date: 08/2017
This briefing on the future of money is the first in a series of explorations on the future of global systems; including industries, sectors and economies.
A tide of technology — cryptocurrencies, P2P economies, payment APIs — is reshaping the world before our very eyes. We rarely memorize, wait in line, rewind, unfold, print or phone anymore. There has never been a better time to map the phenomenon of human innovation, and there is no better place to start with than with money.
Impact of cryptocurrency on Economy - India and Global. This has been taken from several online sources. References mentioned at the end of the article. A cryptocurrency is digital money in an electronic payment system in which payments are validated by a decentralized network of system users and cryptographic protocols instead of by a centralized intermediary (such as a bank).
Money serves three interrelated economic functions: it is a medium of exchange, a unit of account, and a store of value. Without it, people would have to engage in a barter economy, wherein people trade goods and services for other goods and services.
There are speculations on whether cryptocurrency will be more efficient and secure than existing money systems or if it can effectively act as money and achieve widespread use. However, that is the not primary focus of the article.
BITCOIN: A 21ST CENTURY CURRENCY EXPLAINED BY A WALL STREET VETERANSteven Rhyner
It was even predicted by Nobel Prize-winning economist Milton Friedman in 1999 when he said, "The one thing that’s missing, but will soon be developed, is a reliable e-cash."
A Comprehensive Guide to Digital Currency for Americans 🌐💰
Slide 1: Introduction 🚀
- Title: Navigating Digital Currency: A Comprehensive Guide for Americans 🇺🇸
- 📌 Welcome to our in-depth exploration of digital currency and its relevance for Americans.
Slide 2: Understanding Digital Currency 💡
- Definition and Core Characteristics of Digital Currency 💻💲
- How It Contrasts with Traditional Currencies 🏦🌍
- 🌟 Examples: Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, Tether
Slide 3: The Advantages of Digital Currency 🙌
- Key Advantages of Digital Currency 💪📈
- Decentralization, Security, Anonymity, Accessibility, Lower Transaction Fees, Faster Transactions 🌐🔒🤐💼💰
Slide 4: Demystifying Digital Currency Operations 🛠️
- The Power of Blockchain Technology 🧱🔗
- Unveiling Mining, Digital Wallets, Transactions, and Value Dynamics 🛒🔐💸
Slide 5: A Glimpse into Digital Currency's Past 📜
- Digital Currency's Evolution: From Bitcoin's Birth in 2008 🎂
- Key Historical Milestones and Early Adoption 🚀🕰️
Slide 6: Navigating the Legal and Regulatory Landscape 🏛️
- Global Perspectives on Digital Currency Regulation 🌍📜
- Taxation, Anti-Money Laundering, Fraud, and Consumer Protection Challenges 🏦🚫💼🔒
Slide 7: Your Path to Digital Currency Investment 📈
- Step-by-Step Guide for Entering the Digital Currency Arena 💹💡
- Selecting an Exchange, Account Creation, Funding, Asset Selection, Trading, and Secure Storage 💼🔐🌐
Slide 8: Risks and Rewards 💰🌪️
- Navigating Digital Currency's Risks 🌊🚫
- Highlighting the Rewards, From Cross-Border Innovations to DeFi Opportunities 🏦🌐
Slide 9: The Role of Digital Identity 📄🔒
- Protecting Your Financial Identity with Digital Tools 🛡️📲
- Streamlining Regulatory Compliance with Digital Identity 📊👤
Slide 10: Environmental Considerations 🌱🌍
- Unpacking the Environmental Impact of Digital Currency 🌏🔌
- From Energy Consumption and Carbon Emissions to Sustainable Solutions 🍃🏭🤝
Slide 11: In Conclusion 🎯✨
- A Recap of the Digital Currency Journey 🌐💼
- Embracing the Challenges and Possibilities 🤝💼
- Envisioning a More Equitable and Prosperous Financial Future 💰🌈
Slide 12: Your Questions, Our Answers 🤔❓
- Opening the Floor for Engaging Discussions and Queries 🗣️💬
Slide 13: Get in Touch 📬🤝
- Contact Information for Further Conversations and Clarifications 📞📧
Slide 14: A Grateful Farewell 🙏🌟
- Expressing Our Appreciation for Your Participation and Interest 🙌👏
Thank you for joining us on this exciting journey through the world of digital currency! 🚀🌐💲
WHEN WILL DIGITAL CURRENCIES REPLACE TRADITIONAL MONEY? EXPLORING THE FUTURE OF GLOBAL FINANCE.
The advent of the digital age has revolutionized various aspects of our lives, from the way we communicate and consume media, to how we shop and even conduct our financial transactions. One prominent product of this digital revolution is the emergence of digital currencies, a new form of money that exists solely in the digital space. With the creation of Bitcoin in 2009, the concept of decentralized, digital money not controlled by a central authority entered mainstream awareness, and since then, the interest in and use of digital currencies has grown exponentially. This brings us to the central question this article aims to answer: when will digital currencies replace traditional money?
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1. Recommended Coins
and Their Purposes
If you have no crypto assets yet, here are the coins I
recommend for long-term holding, to make sure
you end-up making profits in time!
Coin #1: Bitcoin (BTC)
In the digital age, the ideal brand-new currency should have at least these three
characteristics:
It should be free from the control of any authority so that it cannot be
manipulated and printed at will (and devalued), and nobody can tell anyone
what they can and cannot use it for.
The currency should be borderless, so that it can be easily exchanged across any
location with anyone.
Click here : How to get Rich with Bitcoin
It should be apolitical, so as to not favor a specific system or group of people. In a
nutshell, these (among many others) are the characteristics of bitcoin, which
looks like an appealing alternative to any fiat-based monetary system.
Bitcoin is the world’s first decentralized digital currency. Its value primarily comes
from it being the first digital currency that no single person, organization or
authority has control over. Anyone can buy it, anyone can receive it — and
nobody can tell anyone what they can or cannot do with it.
It is a money free from dictatorship, oppression and hyperinflation, and a
2. financial safe haven for anyone living under those circumstances. It has a limited
supply of approximately 21 million total bitcoins that will never be changed, and
we know exactly how many are being released into the world at what rate, as
well as approximately when the last bitcoin will be created.
It is generally more difficult to understand why a decentralized currency is
valuable to people who live in first-world countries because their society’s money
is most likely very sound, or so it appears to be. In order for people in first-world
countries to understand why bitcoin is valuable, they must recognize why the fiat
money system is unsound.
THE PROBLEM WITH FIAT
In reality, any money controlled by a central bank is not truly sound, when you
consider the big picture. Generally speaking, governments have created monetary
systems that allow them to manipulate the supply of their country’s money,
assuring its value is backed by their word that it will always be worth something.
The problem is that “something” has slowly been worth less and less since fiat
money was taken off of the gold standard.
The reason for this is simple: Governments like to spend more than they accrue
from taxes and other income streams; so, by their own power, they print
enough money for their needs. When more money is printed and put into an
economy, it decreases the value of each dollar already in circulation.
Bitcoin’s beautifully designed characteristics mean it is poised to have an
impact in people’s lives in the most unstable economies (like Argentina and
Venezuela, for example), where the government heavily manipulates its money.
3. As a brief primer, countries like Venezuela and Argentina have experienced times
where their governments printed so much of their own currency that their
citizens were not able to spend it fast enough before it would lose value. This has
happened multiple times in each country and, as a result, their entire monetary
systems fell apart, and affected citizens had to find an alternative medium of
exchange.
People are entitled to freedom as a human right, and governments who ruin their
own money arguably take away their people’s economic freedom. Their access to
the same economic opportunities as the rest of the world is virtually non-existent,
and thus the greatest thing they desire is a currency that can’t be controlled by a
reckless central authority.
In 1912, Ludwig von Mises, a renowned Austrian economist, wrote in The Theory
of Money and Credit that sound money “has two aspects. It is affirmative in
approving the market’s choice of a commonly used medium of exchange. It is
negative in obstructing the government’s propensity to meddle with the currency
system.”
He continues, “It is impossible to grasp the meaning of the idea of sound money if
one does not realize that it was devised as an instrument for the protection of
civil liberties against despotic inroads on the part of governments.”
WHY DO WE USE FIAT MONEY?
The reason why most people accept our current monetary system is because it’s
what we have and it’s what we have had for as long as we can remember.
Because people alive today were born into the existing system of government-
issued money, most of society has accepted that the gradual increase in price
4. for everything from groceries to education is a natural phenomenon.
It is hard to believe that prices will gradually increase forever, and coffee could
very well be close to $20 per cup in 50 years (compared to the $2 average today
and the $0.15 it cost in 1920). We accept that these increases are the natural
result of inflation, which they correctly are, but the underlying reason why the
inflation occurs in the first place is due to manipulations of a central authority.
Unfortunately, when people are used to something for so long, they naturally find
it hard to believe that a newer way might be better.
WHY BITCOIN IS VALUABLE
These core flaws that plague the fiat monetary system do not exist in bitcoin.
Bitcoin’s supply is fixed by code that all participants of the network agree upon.
The distribution rate of new bitcoins into the world is fixed and transparent, as
is the approximate date when the last bitcoin will be created. Bitcoin also has no
public face that can strongly influence the direction of the currency. It’s the
correction of these flaws of our current system that bring value to bitcoin.
Coin #2: Ethereum (ETH)
Cryptocurrencies have taken the world by storm. Since 2013, the value of all
cryptocurrencies in circulation has soared from $1.6 billion to more than $1.6
trillion at Wednesday's prices, and roughly $1.4 trillion of that value was added
in the past year, according to CoinMarketCap.
Bitcoin has been the leader of the pack, thanks to its first-mover advantage as
the original cryptocurrency. However, in recent months, Ethereum has stolen
Bitcoin's thunder. In the past year, Ethereum has gained roughly 1,600%, while
5. Bitcoin is up 300%.
Ethereum has caught fire for a number of reasons, but the most important aspect
of the Ethereum network is its use of smart contracts. These smart contracts built
on the Ethereum network are spurring a couple of innovations that give
Ethereum its value: decentralized finance (DeFi) and non-fungible tokens (NFTs),
whose popularity should be closely followed by investors.
The DeFi movement can't be ignored
One of the biggest innovations spurred by the Ethereum network is DeFi.
DeFi uses smart contracts on the Ethereum blockchain to offer traditional
financial products, like insurance or loans, without the need of intermediaries
like brokerages or banks. Two hands, made out of digital networks, form a
handshake.
These smart contracts eliminate the need for a trusted third party to verify the
transaction. Nick Szabo, an early pioneer of digital currencies, likened them to
digital vending machines. Smart contracts are programmable contracts
between two parties that self-execute when specific conditions are satisfied.
The third party is eliminated because the contract is programmable and exists
on the blockchain, a secure and decentralized form of digital ledger technology.
The ultimate goal of DeFi is to eliminate third parties and make financial products
such as loans, insurance, and trading more accessible to underserved markets.
According to World Bank, 1.7 billion adults across the globe lack access to
banking services. However, two-thirds of those do have access to a mobile phone
and internet connection, and could benefit from DeFi. Given the problem it looks
to solve, DeFi is a very attractive space right now.
6. A real-world example:
Munich-based Etherisc built its first product, flight delay insurance, with smart
contracts on the Ethereum network. It works this way: When a customer
purchases flight delay insurance, it's recorded on the blockchain in smart contract
form. If a flight is delayed by 45 minutes or more, the self-executing contract
pays out customers instantly. The smart contract allows the customer to avoid
making claims with an insurance company, making insurance more efficient.
Etherisc sees insurance as one industry ripe for disruption by utilizing smart
contracts, saying they could make the purchase and sale of insurance more
efficient, lower operational costs, and provide greater transparency into
the industry.
Ethereum leads the pack when it comes to decentralized contracts, whose
popularity has taken off this year. According to DeFi Pulse, over $63 billion was
locked up in smart contracts as of Wednesday, a 65-fold increase from the $953
million locked up in smart contracts just one year ago.
Leading the NFT trend, too
The Ethereum ecosystem is perfect for another purpose as well: non-fungible
tokens.
One of the problems in the digital age is the ease with which we can duplicate
digital assets like images, videos, and songs. NFTs aim to make digital
products more like physical ones, by giving them scarcity, uniqueness, and
proof of ownership.
NFTs have exploded in popularity in the past year. According to NonFungible,
7. there were nearly $67 million in sales related to NFTs in 2020. So far in 2021,
sales are an astounding $840 million, representing over 11 times growth from last
year's total -- and the year isn't over yet. Comparing the full month of April to the
same month last year, NFT sales were up 82-fold. To say NFTs have exploded is an
understatement.
The Ethereum network plays a key role in NFTs, as most NFTs are priced in Ether -
- the digital token of the Ethereum blockchain. In fact, the earliest and most
popular NFTs, with names like CryptoKitties and CryptoPunks, are run on
the Ethereum blockchain.
Ethereum is my favorite cryptocurrency
While Bitcoin was the original cryptocurrency, I think the smart contracts built
into the Ethereum network make it a better cryptocurrency to invest in over
the long haul. After all, there's no denying the popularity of DeFi apps and NFTs
-- which are largely hosted on the Ethereum blockchain.
However, when dealing with cryptocurrencies, investors must be careful of a
potential bubble, especially in the NFT space. According to NonFungible, the
average sale price for crypto art had dropped 60% from its February high through
the end of April. If the NFT bubble does pop, Ethereum and other
cryptocurrencies will take a hit.
As an investor, it's important to understand the volatility of cryptocurrencies
and allocate your capital accordingly. Despite how much I like Ethereum, I also
know the price could potentially correct 40% to 60% or more due to rampant
speculation in the space.
This doesn't mean it's a bad long-term investment, though. The best approach as
8. a long-term investor is to allocate a small percent of your portfolio to the
cryptocurrency and dollar-cost average into that position over time. Dollar-cost
averaging will help smooth out the average price paid for your position, as you
should be buying along peaks and valleys along the way while keeping a long-term
investment perspective in mind.
Coin #3: Cardano (ADA)
Cardano is one of the biggest cryptocurrencies by market cap. It’s designed to
be a next-gen evolution of the Ethereum idea — with a blockchain that’s a
flexible, sustainable, and scalable platform for running smart contracts, which
will allow the development of a wide range of decentralized finance apps, new
crypto tokens, games, and more.
As of March 2021, however, smart-contract functionality has yet to be rolled out
by developers. An upgrade scheduled for the second quarter of 2021 will unlock
smart-contract features, bringing Cardano one step closer to its goal of
providing developers with a blockchain platform that is robust, secure, scalable,
and highly energy-efficient.
Much like the Ethereum blockchain’s native cryptocurrency is ETH, the Cardano
blockchain’s native cryptocurrency is ADA — which can be bought or sold via
exchanges like Coinbase. Today, ADA can be used to store value (perhaps as
part of your investment portfolio), to send and receive payments, and for
staking and paying transaction fees on the Cardano network.
How does Cardano work?
Cardano’s goal is to be the most environmentally sustainable blockchain platform.
9. It uses a unique proof-of-stake consensus mechanism called Ouroboros, as
opposed to the energy-intensive proof-of-work system currently used by Bitcoin
and Ethereum. (Ethereum is also moving to a proof-of-stake system via the ETH2
upgrade).
What is proof of work? Decentralized cryptocurrency networks need to make
sure that nobody spends the same money twice without a central authority
like Visa or PayPal in the middle. To accomplish this they use a “consensus
mechanism.” The original crypto consensus mechanism is called proof of work,
first popularized by Bitcoin mining.
Proof of work requires a huge amount of processing power, which is
contributed by virtual “miners” around the world competing to be the first to
solve a time-consuming math puzzle.
The winner gets to update the blockchain with the latest verified
transactions, and is rewarded with a predetermined amount of crypto.
What is proof of stake?
Rather than using a network of miners racing to solve a puzzle, proof of stake
uses a network of invested participants called validators. Instead of contributing
processing power to secure the network and verify transactions as miners do,
validators stake their own ADA.
The network selects a winner based on the amount of ADA each validator has
in the pool and the length of time they’ve had it there — literally rewarding the
most invested participants.
Once the winner has validated the latest block of transactions, other
validators can attest that the block is accurate. When a threshold number of
10. attestations have been made, the network updates the blockchain.
All participating validators receive a reward in ADA, which is distributed by the
network in proportion to each validator’s stake.
Becoming a validator is a major responsibility, but interested parties can also earn
ADA rewards by “delegating” some of their crypto to a staking pool run by
someone else.
The Cardano blockchain is also divided into two separate layers: the Cardano
Settlement Layer (CSL) and the Cardano Computing Layer (CCL). The CSL contains
the ledger of accounts and balances (and is where the transactions are validated
by the Ouroboros consensus mechanism). The CCL layer is where all the
computations for apps running on the blockchain are executed — via the
operations of smart contracts.
The idea of splitting the blockchain into two layers is to help the Cardano
network to process as many as a million transactions a second.
What are Cardano native tokens?
On March 1, 2021, the Cardano blockchain introduced the ability to create native
tokens. Like Ethereum tokens — which can include things like NFTs or stablecoins
like USD Coin — Cardano native assets can be created and distributed on the
blockchain and are able to interact with smart contracts.
But unlike Ethereum-based tokens, Cardano native tokens aren’t created via
smart contract. Instead, they run on the same architecture as the ADA
cryptocurrency itself. According to the nonprofit Cardano Foundation, this makes
Cardano native assets “first-class citizens” on the blockchain. Their native
architecture can theoretically make these tokens more secure and reduce the
11. fees associated with transactions.
Coin #4 : Polygon (MATIC)
What is Polygon?
Previously known as Matic Network, Polygon is a framework for building
interconnected blockchain networks.
It seeks to address some of Ethereum's major limitations—including its
throughput, poor user experience (high speed and delayed transactions), and lack
of community governance—using a novel sidechain solution.
Rather than being a simple scaling solution like its predecessor Matic Network—
which uses a technology known as Plasma to process transactions off-chain
before finalizing them on the Ethereum main chain—Polygon is designed to be
an entire platform designed for launching interoperable blockchains.
Through Polygon, developers can launch preset blockchain networks with
attributes tailored to their needs. These can be further customized with a
growing range of modules, which allow developers to create sovereign
blockchains with more specific functionality.
How does Polygon work?
Polygon's architecture can best be defined as a four-layer system composed of the
Ethereum layer, security layer, Polygon networks layer, and execution layer.
The Ethereum layer is essentially a set of smart contracts which are
implemented on Ethereum. These smart contracts handle things like transaction
finality, staking, and communication between Ethereum and the various Polygon
chains. The security layer runs side by side with Ethereum and provides a
12. "validators as a service" role which allows chains to benefit from an additional
layer of security. Both the Ethereum and Security layers are optional
Beyond this, there are two mandatory layers. The first is the Polygon networks
layer, which is the ecosystem of blockchain networks built on Polygon. Each of
these has its own community and is responsible for handling local consensus and
producing blocks. The second is the Execution layer, which is Polygon's Ethereum
Virtual Machine (EVM) implementation used for executing smart contracts.
Chains launched on Polygon are capable of communicating both with one
another and with the Ethereum main chain thanks to Polygon's arbitrary message
passing capabilities. This will enable a variety of new use-cases, such as
interoperable decentralized applications (dapps) and the simple exchange of
value between diverse platforms.
Polygon: Ethereum's Internet of Blockchains
Polygon is designed to facilitate a future where different blockchains no longer
operate as closed-off siloes and proprietary communities, but instead as networks
that fit into a broader interconnected landscape.
Its long-term goal is to enable an open, borderless world in which users can
seamlessly interact with decentralized products and services without first having
to navigate through intermediaries or walled gardens. It aims to create a hub
that different blockchains can easily plug into, while simultaneously overcoming
some of their individual limitations—such as high fees, poor scalability, and
limited security.
What’s so special about it?
The Polygon project is one of the more recent attempts at blockchain
13. interoperability and scaling, and is designed to address some of the perceived
limitations of interoperability projects such as Polkadot and Cosmos.
For one, it’s compatible with the Ethereum Virtual Machine, which makes it
approachable to those accustomed to building apps on Ethereum and
programming in Solidity; its rival Cosmos uses a WASM-based virtual machine.
For another, Polygon's shared security model is entirely optional; sovereign
platforms don't need to sacrifice any independence or flexibility for the sake
of additional security if it is not needed. It also claims to be flexible enough to
incorporate any scalability solution—beyond the current Plasma chains, ZK-
rollups, and optimistic rollups planned.
What is MATIC token?
Although Polygon has dramatically expanded on the vision laid out by Matic
Network, it still uses the same utility token, known as MATIC.
The MATIC token is used for a variety of purposes in the Polygon ecosystem,
including participating in network governance by voting on Polygon Improvement
Proposals (PIPs), contributing to security through staking, as well as paying gas
fees.
Coin #5 : VeChain (VET)
What is VeChain
VeChain is a Singapore and China based blockchain company with operations in
Europe, Asia and America. VeChain was Co-Founded by CEO Sunny Lu and Jay
Zhang in 2015.
VeChain’s vision is to lower the barrier and enabling established business with
14. blockchain technology to create value and solve real world economic
problems. Since its inception, VeChain has managed to onboard an impressive
list of enterprises building applications on top of the VeChainThor Blockchain.
The VeChain Foundation is responsible for maintaining the open source and
public VeChainThor Blockchain. The Foundation is governed by the Steering
Committee, which currently includes members from VeChain, DNV GL and PwC
China. Important decisions that need to be made are voted upon by all
stakeholders in the VeChain Ecosystem, making VeChain truly decentralized.
The VeChain Foundation
The VeChain Foundation, founded July 2017 in Singapore, is the overseeing body
of the VeChainThor Blockchain and ecosystem. The Foundation acts as a
governing body for real time decision making and is responsible for the growth of
the platform. The VeChain Foundation envisions a trust-free and distributed
business ecosystem to enable transparent information flow, efficient
collaboration, and high-speed value transferring.
Governance Model
Even though decentralization is the cornerstone of Blockchain technology,
complete decentralization has been proven to have obvious defects in every
applied method, including Bitcoin and Ethereum. Idealized decentralization is an
Utopia even to the crypto and Blockchain world. VeChain believes in the balance of
decentralization and centralization on which the platform’s governance model is
designed. The balance between centralization and decentralization will vary as the
ecosystem matures, with a more centralized structure at the start to
enable rapid development and adoption, while slowly giving more and more
power to the community as the ecosystem matures.
15. Stakeholders with voting Authority
The stakeholders of the VeChain Foundation are the owners of VET as well as
Smart Contract Owners. The voting authority each stakeholder has depends on
their role and VET holdings. Stakeholders vote on important decisions such as
the election of the Steering Committee, or modifications to the VeChainThor
blockchain, like its consensus mechanism or technical parameters. Voting is done
on the VeVote platform. Learn more about VeChain’s Governance model by
reading the VeChain Foundation Governance Charter (Dec, 2019).
The Board of Steering Committee
The Board of Steering Committee is the governing body of the VeChain
foundation. It represents the interest of all of VeChain’s stakeholders. The
Steering Committee defines the strategy of the Foundation and selects the
team leads of the various operational teams. The Committee currently consists
of 7 members including the Founders as well as members from PwC and DNV
GL. Every two years all stakeholders can vote on who takes place in the Steering
Committee.
The Advisory Board
The role of the Advisory Board is to give advice to the steering committee and
help them with the design, implementation, and vision of VeChain. The Advisory
Board is selected based upon their wisdom and experience they can offer to the
Foundation. Current members include Partners from PwC, Deloitte and
members from Breyer Capital as well as Fenbushi Capital.
The VeChain team
The VeChain team currently consists of over 100 full-time employees of which
16. half are blockchain developers. VeChain currently has 8 offices located in Asia,
Europe and the United States. The VeChain team is expected to hire an additional
100+ employee’s in 2019. You can read more about the VeChain team here.
The VeChainThor blockchain
On June 30th 2018, the VeChainThor Blockchain was officially launched. The
VeChainThor Blockchain is compatible with dApps build on Ethereum, the
VeChainThor codebase is build from scratch and offers unique features that are
not available on Ethereum.
Proof of Authority
VeChainThor implements a Proof of Authority (PoA) consensus algorithm to
create new blocks. PoA is an improvement on Proof of Stake, in which all nodes
are validated and approved by a trusted central party (the Vechain Foundation)
before allowed to add blocks. This eliminates the risks that come with having
anonymous block producers, one of the key barriers given by enterprises.
Since all Nodes can be trusted, blocks can be validated faster and far more
efficient compared to PoW and PoS, reducing costs for Blockchain users, while
being safer and more energy friendly. To be an Authority Masternode (AM), the
individual or entity voluntarily discloses who they are (identity and reputation
by extension) in exchange for the right to validate and produce blocks. It is their
identities and reputations placed at stake that give all the AMs additional
incentives to behave and keep the network secure. Next to the 101 Authority
Nodes, everyone is free to run a Thor Node and validate transactions. In conclusion,
although I am not giving financial advice, if I were to start investing
in crypto these days as a beginner, these 5 coins would be my picks considering
17. each of the coins have a utility. To me this means these coins will be around for
the next 10-20 years at least. This then means if you hold these coins for a long
time, you will see gains as years go by! The longer you will hold these coins, the
more money you will make, that goes without saying!