Cryptocurrency 101

Cryptocurrency is the worlds most innovative technology that has ever been available to anyone. The most important piece of this technology is the blockchain technology that incorporates an “ ANTI-TRUST” foundation. In other words,there is no Government agency stealing a percentage, or a crooked bank skimming a percentage. This technology verifies all transactions in order to promote a secure and efficient ledger,which is open source so that transactions are publicly recorded.

The very idea was to actually have self-ownership of your money. This is done by mining and staking. This is the ONLY way to have self ownership of your currency. POW(Proof Of Work) and POS (Proof Of Stake). Many people are still going the wrong way of investing. While Investing may be fine, it is the wrong way of doing this. First of all you no longer have self ownership of your money. Your currency is now invested with a third party, which is the very thing crypto currency was trying to eliminate. Second it becomes counter productive because as less Bitcoins, per say, are left to be actually mined, the whales will not be able to lower the price down that drastically because of the less coins available. Making them more valuable and increasing the price.

Proof of this stems from two years ago when the Bitcoin price was steady at a value of $200.00. People were investing ten of thousands of dollars world wide, but in one single month did Bitcoin rise from $200.00 to ten-Thousand Dollars? The answer is no. This is because there were still a larger supply to be mined. Now in 2018 the actual supply left to be mined is less. This is the problem of why investing is the wrong way to do this.

As it was stated in a previous article from this blog, you must mine in a way that gets you the monthly salary you need to live and have some extra. There is a large measure of self-responsibility that comes with mining crypto-currency full time from home. While it allows you plenty of down time, fun time, and free time, there is a time when you will have to take action and handle repairing and maintaining your equipment. Again, this is the self responsibility you must have.

You can always go back and check previous articles of this blog to give you the information you need on mining as well as Staking coins. There are several ways to do this. If you are truly smart .with math and metrics, you can do this as easy as a child connects the dots.