Bitcoin, Cryptocurrency & Blockchain: What’s driving the craze?
Video Title: Bitcoin, Cryptocurrency & Blockchain: What’s driving the craze?
Economics is boring this is a lie we’ve been told all our lives but accept it or not our life depends on it war poverty revolution they all hinge on economics which itself rests on one key concept money the ultimate catalyst for the worst and the best of human endeavor
Like it or not money defines our social status it also compromises our morals sometimes some people spend their lives chasing these rectangular pieces of paper some are willing to fight even kill for it but are we headed towards the end of money as we know it
Will we have to burn our rupees dollars and euros transform every single penny we have into digital binaries or should i say to cryptocurrency is it really the new goal the future of money or is it gambling a recipe for financial disaster if these are questions you’ve been asking yourselves
I have a story to share hello and welcome to gravitas plus i’m what the internet did for information digital currency is doing for money it is revolutionizing transactions and eliminating banking not a week goes by when cryptocurrencies do not dominate the news there are record-breaking price surges every other day
Your colleagues won’t stop talking about it your friends want you to invest what do you do you weigh the pros and cons understand where you’re putting your money and that’s where the problem lies most of us do not understand money and it’s handling it’s a life skill
We were not taught in school beyond the basic computing now if money changes form the first thing you try to do is understand it and that’s what we’ll do today and if you’re worried that we are going to get too technical do not it’s all plain english let’s start with understanding
Three basic concepts bitcoin blockchain and cryptocurrency what do they mean here are some quick definitions first bitcoin it is the name of the best known cryptocurrency like the euro is the name of one type of currency bitcoin is digital and decentralized it exists electronically it’s a computer code only and i’ll
Explain in a bit for now the second definition cryptocurrency it is a medium of exchange for bitcoin just as notes and coins are for rupees and dollars crypto means data encryption it basically ensures the security of transactions now you may have heard about your messages being encrypted it means they’re secure
It’s the same for crypto it’s encrypted data but unlike debit and credit cards cryptocurrency has no physical counterpart it’s the only form it exists in the third definition is blockchain it is the technology that enables the existence of cryptocurrencies think of it like a computer file that stores data
But this is a file across a vast network of computers and it’s not exclusive to bitcoin and crypto blockchain has many many uses this is just one of them so simply put this is everything we don’t understand about money combined with everything we don’t understand about technology
Now don’t lose your head if you do not get it because most people don’t and surveys have shown this only one out of ten people understand how cryptocurrencies work and one in three cryptocurrency investors themselves know little to nothing about it take bitcoin for instance
No one even knows who created it it has been in circulation since 2009 but the identity of its creator or creators remains a mystery to this day over the years many people have claimed to be or have been called nakamoto but there’s still no clarity whether it’s one person or a group of
People no one really knows that i have nothing to do with bitcoin nothing to do with developing i was just an engineer doing something else what nakamoto did though was solve a potential flaw in digital banking double spending now what’s that let me explain through an example if a
Person buys a sandwich worth ten dollars for instance they cannot spend that same ten dollar bill anywhere else but when the same amount is paid digitally some people can manipulate systems and spend the same ten dollars more than once and that in simple words is double spending to stop this from
Happening you have banks and credit card companies acting as middlemen so they vouch for the transactions that you make and they prove that you’ve already paid for something at the same time they take their own cut of the transactions you make enter bitcoin it solves both these fiddly problems
Like i said it is decentralized meaning there is no third party controlling it instead it is regulated by its own community of users and all of them record all of their transactions at the same time any attempts to fool the bitcoin community will ideally get noticed and the payment will get rejected no
Single user or government or bank or credit card company can force a fee on your payment or control its flow plus bitcoin is said to be secure from the effects of currency debasement and inflation does sound perfect doesn’t it well it isn’t bitcoin is not without problems the transactions are irreversible
Once you’ve paid you’ve paid you will not get a penny back plus it’s extremely volatile the value keeps fluctuating on the 14th of april it was worth 63 000 us dollars one bitcoin on the 23rd of april it sank below 50 000 why does this happen you see like
Everything else the price of bitcoin is driven by demand and supply when the demand increases the prices go up when people see the price going up they feel like cashing in so they try to sell their own bitcoin and this leads to more people wanting to sell but sometimes
There are not enough buyers so they lower their price and on it goes like a roller coaster ride so fluctuation is problem number one the second problem has to do with security the digital wallets containing bitcoin are stored in phones and computers and we all know how vulnerable
These are two theft and hackers in 2016 a los angeles hospital ended up spending 17 000 us dollars on illegal transactions after hackers took control of its computers for more than a week so if you have a good amount of money invested in bitcoin create passwords that are difficult to
Guess also stop visiting those weird and suspicious websites the same rules apply for every other cryptocurrency which brings us to the question how many are there 4 000 plus there are more than 4 000 crypto currencies in the world why do so many of them exist because why not
The key software to create a crypto is open source which basically means anyone and everyone can create them so there’s litecoin name coin peercoin grid coin ripple prime coin order mazer coin stellar and this dogecoin a cryptocurrency that started off as a meme it has now become mainstream in 2013 two
Software engineers used the image of a dog and made this cryptocurrency as a joke their aim was to make fun of how people would invest in anything and guess what people did just that on the 20th of april dogecoin’s market capitalization surged to more than 50 billion dollars it ended up being worth
More than ford and marriott all thanks to dogecoin supporters who used hashtags and social media posts to fuel its price and this episode is both laughable and fascinating it tells you about the times we’re living in where online campaigns can have a surprisingly big impact on the market price of
Anything an age where parody can be turned into a real asset dogecoin is worth 50 billion dollars because people believe it is worth 50 billion dollars you know what they said about the power of what you believe in perhaps this was it it’s the same in the case of bitcoin the fundamental reason
It has value is because people agree it has value think of it like these shoes with human blood they’re worth one thousand dollars why because it’s manufacturer thought someone would pay one thousand dollars for such shoes who by the way was absolutely right because all of these shoes have been sold out
What does this tell you that a vast majority of people investing in cryptocurrency are just responding to the craze around it they’re giving it a shot what about governments these countries recognize cryptocurrency the uk is working on something called brit coin russia does not recognize cryptocurrency
China cracked down on it but then it shifted position now beijing calls it alternative investment in india cryptocurrency is not legal tender but there are people who invest in it because people around them do it the bottom line is this the future of currency is digital there is no doubt about it
But when you invest you must know that you’re not just investing you’re also gambling and if you’re ready to gamble you must also be prepared to win or lose
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HOW PAINFUL I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN…I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED… CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?
I was an unexperienced stock trader and i lost over $30K when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, really grateful I find one source to recover my money, at least $5k profits weekly. Thanks so much Mrs Patricia Anderson
You work for 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a crypto market for just few months and now they are millionaires, all thanks to Mrs Joyce God bless you madam 😇
Well, that's not the way it's going to be. It is better to be sure of your stable earnings by mining Crypton in Utopia P2P ecosystem. And to be a free man. As this ecosystem is decentralized and has many functions .
Excellent video as always but here is my problem I have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market… can anyone help me out or at least advise me on what to do
Mem Hindi language please mem
Gud info
How does this whole bitcoin and stock market things works, I'm interested in it, willing and ready to invest in it but need an assistant to properly guide me through on how to make a good startup and be successful in it without making mistakes
I'm from 1000 doge hold from 2025 in next bull market
Palki is best
Please I need someone to help me trade or invest the forex or crypto market because I'm tired of trading in losses myself. I've blown my account twice and it's frustrating..
Palki ji aapneyn to dil hi tod diya udas va niras kiya . Crypto currency par a whole big article in editorial column had read and was sure and much hopeful that roaring upeard graph and values of the US dollars go to deminished . At times did bring same impression in my descriptions while offer of the comments . Here its diffetent what you all said and narrated . Bit agree with you as our own govt it a lottery some and gence denued accord of the authenticity. But accepted crypto currency run banks a kind of gamblinh realised cash . Finally govt set standard that we consider it gambling or lottery . No formal aporoval to these operating crypto currencies banks but the banks the earners has to pay the admissible cash as taxes to the govt . Ab palki ji aap sugfest va recomnends karey ways and means to murder the soaring influences of the dollars which badly hampered our curremcies value ..its pathetic state as of now..rupee as low as Rs 15 against a US dollar .chintajanak . Bharat hi hara sakta hai US dollars ke greater functional importance ko . Request do come out with your immense imagonary mights and powers to cease and stop further growth and monetary value of the US dollars . Would be worthwhile and utmost satisfying to us all . Good productions ..most relevant and beautiful presentation with awful quality . Greetings and kindest Regards. Jai Hind. Jai congress.
Despite the market crash, I still thank you for the level-headed financial advice. I started stock and crypto investment with $4,345 and since following you for few weeks now, I’ve gotten $18,539 in my portfolio
Thanks so much Mrs. Allyson Berthelot
I came here to learn how to invest after listening to a guy on radio talk about the importance of investing and how he made $960,000 in 4 months from $160k, somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas.
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It’s only the few that will understand how trustworthy this above name platform is, if you're yet to work with them do so now because this company is legit and can be trusted
Beacase it is Betrug
If you go completely into crypto you will have nothing and be happy about it. Lolololololololol
I am one of victims of Bitcoin invester 😢
I realized that the secret to financial security is Making better investment. I always tell myself you don't need that new Car or that vacation just yet and that mindset helps me make more money invest:ng. For example last year I invested 170k in blue chip stocks and crypt0 s (with the help of my advisor of course) and made about 850k, but guess what? I put it back and traded with her again and now I'm rounding up close to a million. Delayed gratification always pays off
I would advice anyone embarking on CRYPTO investment to get a professional to avoid loosing your money to scammers I'm still glad I can smile back at my portfolio of $800k built
Now I'm fully understand, thank you Palki
Amazing video,A Friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money.
I started investing with $120k and in the first 2 months,my portfolio was $275,700. Crazy right;!I decided to reinvest my profits and get more interesting.for over a year we have been working together and make consistent profit just bought my second home 2 weeks ago and care for my family.
<<I'm new to cryptocurrency and I don't understand how it really works.Can someone guide me on the right approach to investing and making profit from cryptocurrency investment?
Awesome explanation
❣️
In simple words Bitcoin is Bullshit
Making money is an action. Keeping money is behavior. Growing money is knowledge.
Y'all gotcha her leading contact?
<<I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN…I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED… CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?