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Important Videos

Explanation of digital central bank currencies https://youtu.be/_ErRWQWPs8Q
Best hardware wallets for cryptocurrencies https://youtu.be/_t3Brlb0qzQ
Fiat Ponzi Scheme https://youtu.be/L_f6R0DHNH0
How to research cryptocurrencies https://youtu.be/HCLWDGYnAzk
Is Bitcoin bad for the environment? https://youtu.be/DidAwxWaDKI

– TIME STAMP –
0:00 Introduction
2:11 Cryptocurrency 101
6:08 Questions about Bitcoin, Dogecoin, Ethereum, etc.
9:15 Security of cryptocurrencies and concerns about criminal use
13:15 Explanation of the price and value of cryptocurrencies
17:38 “Which cryptocurrencies should I buy?”
21:32 Conclusion

️ Useful links ️

Why cash is garbage: https://wtfhappenedin1971.com/
Dogecoin explained: https://www.coinbureau.com/review/dogecoin-doge/
Circle USDC website: https://www.circle.com/en/usdc
Paxos PAX Gold website: https://www.paxos.com/paxgold/
Bitcoin use in crime: https://www.forbes.com/sites/haileylennon/2021/01/19/the-false-narrative-of-bitcoins-role-in-illicit-activity/
Bitcoin Stock-to-Flow: https://www.lookintobitcoin.com/charts/stock-to-flow-model/
Cryptocurrency lending and borrowing explained: https://www.coinbureau.com/review/aave-lend/
Visa USDC on Ethereum: https://www.theblockcrypto.com/post/99639/visa-now-settles-payments-in-usdc-stablecoin-ethereum

‍Cryptocurrency 101‍

To put it simply, cryptocurrencies are like regular currencies, except that they are completely digital. Each individual cryptocurrency coin is basically just a collection of numbers and letters.

This sounds complicated, but it is actually not far from what we see with currencies today. Banknotes have serial numbers and bank accounts have account numbers.

Cryptocurrencies are basically like serial numbers without a physical bill, and cryptocurrency wallets are like bank account numbers without your name.

Instead of the bank or government keeping track of your wallet balance, it is done by computers that connect to a cryptocurrency network to process transactions and earn cryptocurrency in return.

‍‍Questions about Bitcoin, Dogecoin, Ethereum, etc.‍‍

Broadly speaking, there are two types of cryptocurrencies: coins and tokens. Cryptocurrency coins belong to cryptocurrency networks that are built from the ground up

Because it is so difficult to build cryptocurrency networks from scratch, only a few dozen cryptocurrencies are actually coins. The rest are cryptocurrency tokens

The most important thing to know about cryptocurrency tokens is that many of them are nothing more than scams. This is mainly because cryptocurrency tokens are so easy to create

Concerns about the security of cryptocurrencies and their criminal use

First of all, not all cryptocurrencies are the same. Some cryptocurrencies are designed to prioritize speed over security, and usually the consequences of this show up quite quickly

When it comes to criminal activities, it is true that ransom demands from hackers often involve some kind of cryptocurrency. However, these cryptocurrencies are always exchanged for privacy coins

Explaining the price and value of cryptocurrencies

Bitcoin has value because its BTC coin has an economic profile like gold. There is a maximum supply and only a small amount of BTC is created every day, and this amount is halved every 4 years.

Cryptocurrencies like Ethereum's ETH have value because they have to pay the transaction fees for minting and moving tokens, as well as for using decentralized applications.

“Okay, which cryptocurrencies should I buy?”

Before answering this question, you must emphasize that nothing you tell them constitutes financial or investment advice.

Which cryptocurrencies you invest in depends on your timeline and risk tolerance. Be careful not to confuse market cap with price potential, and always do your own research.

Disclaimer

The information contained herein is for informational purposes only. Nothing herein should be construed as financial legal or tax advice. The content of this video solely represents the opinion of the speaker, who is not a licensed financial advisor or registered investment advisor. Cryptocurrency trading involves a substantial risk of loss. The speaker does not guarantee any particular outcome

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