Blockchain was invented by a person using the name Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin. The identity of Satoshi Nakamoto is unknown. The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has inspired other applications, and blockchains which are readable by the public are widely used by cryptocurrencies. Blockchain is considered a type of payment rail. Private blockchains have been proposed for business use. Sources such as the Computerworld called the marketing of such blockchains without a proper security model "snake oil"
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems.
Cryptocurrencies have had their share of setbacks. Uncharted technical advancements and shotty regulatory oversite both have led to incredible turbulence in the markets.
The Internet continues to allow itself to be assaulted by hackers and cybercrimes making the traditional Internet-based industries like banking and finance at risk. Cryptocurrencies are no different.
With this in mind, I can not stress the uncertainty that continues to plague this sector and the Internet in general. So, be warned that any funds you use may be at risk.
There are certain steps we can take to minimize not eradicate our risk and encourage you to consider them to protect your investment.
I am pleased to announce the inclusion of " cryptocasey's" excellent series on cryptocurrency basics. Please subscribe and support her work, and mine, in our effort to make cryptocurrency simple, safe and encourage its mass adoption. https://cryptocasey.com
NEVER...NEVER Keep your cryptos in exchanges or hot wallets!
On 03/17/2019 I checked my email and my two exchanges passwords were changed without my knowledge. Further research revealed my accounts had been compromised. Luckily I had my cryptos on my, cold wallet, Nano X and I did not lose my cryptos.
In the Beginning
I first heard of Bitcoin way back in December 2011, the price then was $2. My life at that time was such that while curious about the concept I did not have the time to investigate and or participate in its meteoric rise.
Bitcoin once again caught my attention in December 2017 when it peaked at $20,000!
May I suggest you begin your crypto journey by viewing some of the documentaries. I believe once you familiarize yourself with the concept the, why, will become obvious and more exciting.
A webmaster by trade, my knowledge of computers is above average and I still found transacting in cryptocurrencies quite intimidating. The industry has made great strides in simplifying the crypto experience yet a little knowledge is always helpful.
With that in mind, I created this site to aid in the mass adoption of cryptos and some guidance to minimize uncertainty.
Formula for Success
I firmly believe that one's portfolio must be diversified and while most diversify in different asset classes, I believe that if your diversification is all dollar-based you are not truly diversified.
The USD is perilously close to surrendering its
For more information concerning the dollar and your wealth visit our sister site www.protecturwealth.com
Our economy has not had a new asset class since the 1600s when bonds were introduced.
In 2009 and after many years of development a whole new asset class is emerging. By investing in cryptocurrencies you are embarking in not just a chance of a lifetime but, multiple lifetimes.
- Sovereign Funds: $7.5T
- Pension Funds: $18.1T
- Stock Market: $73T
- Mutual Funds: $40T
- Real Estate: $228T
- Wealth: $317T
- Money: $80T
- Gold: $7.5T
- ETFs: $5T
- Cryptocurrencies: $0.068T
Imagine having had the foresight to buy Google, Apple, and other tech stocks before the dot.com boom!
A work in progress.
It is no coincidence that cryptocurrencies surfaced when they did. During the 2008 crisis, we had no alternative but to bail the banks out. Well, it is speculated, that our next financial crisis we will have to resort to our new global digital currency system that is cryptocurrency. It was developed as our new paradigm for wealth transfer. My vision is to help as many people as I can prepare for this transition.
The more I learn about cryptos the more I realize how much more there is to learn. I regard this site as an open-source work in progress and encourage any input.
Bitcoin Ben and Me !