Looking into he cryptocurrency phenomenon, mainly because I keep hearing/reading that it is bad for you. Looked into Bitcoin in 2013 when it was $13.00, got a bitcoin wallet and didn't proceed with it - my bad and coulda/woulda/shoulda scenario has happened.
However, all is not lost. Got me a book on Cryptocurrency Investing for Dummies, and this is a good read.
The crypto world is a technology world, unregulated; however, there are a lot of big players - banks, governments, industry, and rich persons well ensconced and using this technology - mostly the blockchain aspect because it is much more secure than what is being used a a legacy system. Cryptocurrency is the way these technology platforms get funding to continue.
Not every crypto technology and the associated cryptocurrency will survive, but this is similar to the regular stock markets out there. many a person has lost in the normal stock markets, and example being GM that made it through the last financial hit in the US, took the peoples money to survive, and conveniently delisted than delisted at the same price. Many lost in this transaction.
The book has details many aspects that I think I understand, not enough to participate, but enough to know that there is a lot of big players out there trying to corral the various crypto worlds. Whether this will happen, who knows.
I think it is similar with boundaries. It's not like the fiat currencies, those backed by a country's government where the government can print money until the cows come home and then some. Bitcoin for instance has a coinage of 21 million coins available and never to be increased. There are other coins such as Litecoin that has four times that amount around 84 million coins, but this will not be increased. Even though there are differences, Bitcoin is the blue chip of the crypto coin world.
The book goes into the different exchanges out there, the Forex world, and lots of other information.
Thought I'd throw this out there, it's an interesting world. With it being on line and in the virtual world, the newer generation will probably and probably is all over this world.
Cheers
However, all is not lost. Got me a book on Cryptocurrency Investing for Dummies, and this is a good read.
The crypto world is a technology world, unregulated; however, there are a lot of big players - banks, governments, industry, and rich persons well ensconced and using this technology - mostly the blockchain aspect because it is much more secure than what is being used a a legacy system. Cryptocurrency is the way these technology platforms get funding to continue.
Not every crypto technology and the associated cryptocurrency will survive, but this is similar to the regular stock markets out there. many a person has lost in the normal stock markets, and example being GM that made it through the last financial hit in the US, took the peoples money to survive, and conveniently delisted than delisted at the same price. Many lost in this transaction.
The book has details many aspects that I think I understand, not enough to participate, but enough to know that there is a lot of big players out there trying to corral the various crypto worlds. Whether this will happen, who knows.
I think it is similar with boundaries. It's not like the fiat currencies, those backed by a country's government where the government can print money until the cows come home and then some. Bitcoin for instance has a coinage of 21 million coins available and never to be increased. There are other coins such as Litecoin that has four times that amount around 84 million coins, but this will not be increased. Even though there are differences, Bitcoin is the blue chip of the crypto coin world.
The book goes into the different exchanges out there, the Forex world, and lots of other information.
Thought I'd throw this out there, it's an interesting world. With it being on line and in the virtual world, the newer generation will probably and probably is all over this world.
Cheers
