WELCOME TO THE WORLD OF THE POSSIBLE

What is money?

Money is a medium of exchange accepted by a society to facilitate trade and economic transactions. In essence, it is an object or a form of representation that is used to purchase goods and services, pay debts, and meet financial obligations.

 

Widely: it has to be accepted by many people, otherwise the system cannot work. 

 

Exchange.

Why is money valuable? 

 

The reason money is valuable is because we all have faith in it, and this faith is operating in the present and future tense.

the value of money is derived from the confidence people have that it can be used to purchase goods and services

 

a strong confidence in the stability and security of a currency or form of money,

To explain very quickly and easily the History of money we will use a timeline

Barter and gift economies - YEAR 9000 BC OR XC CENTURY BC

The history of money dates back thousands of years, 9000 BC from bartering and using objects with intrinsic value, such as shells, furs and metals, to the creation of coins, paper notes AND Cards. 

 

Barter consisted of the direct exchange of goods and services, it was a primitive form of trade used for a long time. however, it had limitations, as it was difficult to find someone willing to trade the desired item, and the valuation of items could be subjective. In addition, barter was not able to define the real value of the merchandise, for example: how much wool was equivalent to two jugs of wine or if a cow was worth the same as a camel. 

To solve this situation, a product was taken as a referential value, which served to regulate exchanges. At first, cattle or wheat were used as reference elements for exchanges. 

The time of the ancient Egyptian empire YEAR 2686 and 2181 a. C. O CENTURY FROM XXVI BC TO XXI

Do you know where the word salary comes from? In the time of the ancient Egyptian empire (yes, that of the pharaohs), 

where workers (obviously not slaves) and soldiers used to be paid with salt.

 

AFTER in Roman times, public officials were paid with packets of salt that they later used as currency and received the name of solarium but... salt was called "white gold", with it you could measure the wealth of A kingdom. 

 

This was because salt was the only known element capable of preserving foods such as meat and fish over time. The word salary comes from the Latin Salarium, and refers to those payments in salt. The salt was even used to buy slaves. 

Well, there was a time when the form of payment became salt, which was later given way to precious metals, such as gold and silver, becoming a common form of exchange and used as currencies in many ancient cultures. 

 

Precious metals had intrinsic value and were universally accepted. Subsequently, these elements evolved into others that were easier to handle, such as gold, silver or bags of salt.

COINS - YEAR 600 BC OR VI CENTURY BC 

The first metal coins appeared in Asia Minor (China) in the sixth century BC and spread through Greece and Rome. Minted coins were more convenient and uniform than items of intrinsic value and became a common form of trade.

The first paper money - Around the YEAR 700 AD. C. O VII CENTURY AD 

paper notes became a common form of money. Paper money originated in China during the Tang dynasty in the 7th century. 

 

 Paper banknotes allowed merchants and the general population to carry large amounts of money without having to transport precious metals.

A concept that we must be clear about is the word fiat: it means “let it be done”, a term commonly used at the end of decrees.

 

 In this way, the will of the sovereign is embodied, imposed by his hierarchy and authority. The concept of “fiat money” has the same meaning, since it is the sovereign State that prints it with the only support provided by its declaration as such, which is why it is also called “money by decree”.

 

NOW YEAR 1900 OR XX century, 

IN 1944 AFTER THE END OF THE SECOND WORLD WAR; The BRETTON WOODS agreements CHANGED the monetary system, THROUGH the appearance of two new protagonists: the dollar and gold. 

 

In this way, the convertibility of the US currency was established with gold becoming a stable currency.

This agreement backed each printed banknote with a gold reserve corresponding to its value of 35 dollars for 1 ounce of gold and the rest of the currencies with the dollar.

All this fell apart On August 15, 1971 during the presidency of Richard Nixon, the dollar went from being a currency backed by gold or an asset of value that was in the reserve to becoming a paper backed by faith and confidence in the sovereignty of the government, thus initiating the massive international fluctuation of currencies.

All of this is less than 52 years since the United States decoupled the dollar from backing gold. And 53 years since the appearance of the first credit cards or unlimited money through debt.

today they are only supported by government policy

fiat money 

 

Traditional national currencies such as euros, dollars or yen are called fiat money or fiat.

Sometimes we can find it identified as paper money or inconvertible money.

Since then we have used a fiduciary system where money has no intrinsic value, controlled and issued by the central banks of each country, without that mutual trust and social acceptance, the banknotes we use today would literally be a piece of paper.

Can you imagine what happened when people were told that from a certain point in time all payments would be made in paper bills or plastic credit cards?

Money is a technology and, like all of them, it evolves over time. Whenever a technological change occurs, doubts about its value and safety are often raised. But it is only one more step in its infinite evolution. Money has evolved over time and now we are in a moment of transition.

21st CENTURY

 

Bitcoin and the cryptocurrency revolution

 

Around the year 2008, a mysterious programmer Satoshi Nakamoto created Bitcoin.

 

Bitcoin grew without employees, without advertising, and without investors, it became the largest digital currency in the world.

 

In terms of the history of money, Bitcoin is important because it brought about the following changes:

 

Traditional money is backed by governments, Bitcoin is decentralized, and the power lies with the entire network, not with a single person or entity making decisions.

 

Bitcoin gave anonymity to people who transact on the network.

Blockchain technology became a way to permanently store records that cannot be tampered with and are always publicly accessible.

 

Thanks to these characteristics, bitcoin took the world by surprise and offered an interesting technological advance.

Most economies use monetary systems based on paper notes and coins, backed by central governments and central banks. In addition, technology has enabled the creation of new forms of digital money, such as cryptocurrencies, which are gaining popularity around the world.

Digital currencies issued by the central bank CBDC 2014 

There are several countries that are exploring the idea of having central bank digital currencies (CBDCs). Some of these countries have already begun to implement their own digital currencies, while others are in the process of development or evaluation. 

 

These are the countries that have taken significant steps in the development of digital currencies:

China: The People's Bank of China has been working on a government-backed digital currency since 2014 and is currently undergoing pilot testing in various cities.

 

Sweden: The Riksbank, in 2020 the central bank of Sweden, is considering the implementation of a CBDC to supplement existing cash.

 

Bahamas: The Central Bank of the Bahamas launched the first government-backed digital currency in 2020 called the “Sand Dollar”.

 

Ecuador: In 2014, Ecuador became the first country in the world to launch a government-backed digital currency called "Electronic Money".

 

Uruguay: The Central Bank of Uruguay launched a pilot digital currency in 2017 called "e-Peso".

 

Thailand: The Bank of Thailand is exploring the possibility of launching a CBDC to improve efficiency and financial inclusion. 

They are a relatively new type of cryptocurrency that has emerged in recent years. The first major stablecoin, Tether (USDT), was launched in 2014, and since then there has been an increase in the number and variety of stablecoins available.

 

Since then, many other stablecoins have emerged, some backed by a fiat currency such as the US dollar or the euro, while others are backed by other cryptocurrencies, commodities such as gold, or have algorithms that adjust supply and demand to maintain its stable value.

 

In short, stablecoins were born in the year 2014 with the launch of Tether, but since then there has been a significant increase in the number and variety of stablecoins available on the market.

Evolve with us and take the definitive leap into the future!

It is at this point that the "convertible" currencies to the dollar, or the euro, find their utility and market.

 

Once inside the crypto world, they facilitate the exit of the most speculative and volatile digital assets, such as bitcoin or etherium, towards stable currencies, such as USDT (Tether).

Basically, any convertible currency has a very clear issuance rule. There must be real support for the species it represents, that is, in the case of Tether, each time a dollar enters the account of the platform administrator, a USDT is issued, and each time a dollar exits, a USDT is redeemed. , “in this way the guaranteed system would be maintained”.

 

Money has come a long way, from gift economies to blockchain-powered currencies that work on the internet, it is very impressive what humanity has achieved.

 

Human beings are always looking for ways to improve systems, the reason people chose to evolve from commodity money to miniature replicas, from coins and then to banknotes was to facilitate transactions.

 

Every time a new technology appears, another may stop working.

 

It's up to us to sit down, try to think about what the next future steps might be for humanity so that we use this information to make decisions.

 

If you are an investor or trader in the stock market, then you know that if a particular company provides certain technology that could be a game changer in the way we trade, then it is time to pay attention.

CRYPTOGRAPHY  

 

It is the technique used to protect information through the use of codes and encryption. Its purpose is to ensure the privacy and security of information while it is being transmitted or stored.

In cryptography, mathematical algorithms are used to (encrypt) transform the original information into an encrypted text, turning it into (protected information). This process is called encryption, and only those who have the correct key can decrypt the information and read the original text.

Its function is to secure communication in the presence of unauthorized third parties or adversaries. making it incomprehensible to anyone who does not have the proper decryption key. In this way, when we send a cryptocurrency to a person, we ensure through cryptography that the currency cannot be intercepted or stolen.

Cryptography is a fundamental part of cryptocurrencies, since it is used to guarantee the security and privacy of transactions. Here are some examples of how cryptography is used 

Public and private key: Cryptocurrencies use a public and private key system to allow users to send and receive coins. Each user has a public key, which is the address to which coins can be sent, and a private key, which is used to unlock and spend those coins.

Hashing: Transactions in a cryptocurrency are recorded on a public ledger called a blockchain. Each block in the chain contains a hash, which is an encrypted version of the information contained in the block. This guarantees that any attempt to modify the information in the block will be detected.

Digital signature: When a transaction is made in a cryptocurrency, a digital signature is used to authenticate the transaction. The digital signature is generated from the user's private key and is used to prove that the transaction was made by the owner of the private key.

Proof of Work: Some cryptocurrencies use a "proof of work" system to validate transactions and add new blocks to the chain. This system uses cryptography to solve complex math problems and ensure that new blocks are added fairly and randomly.

Encryption Algorithms: Cryptocurrencies use various encryption algorithms to protect sensitive information such as private keys and transactions. Some of the most common encryption algorithms used in cryptocurrencies are SHA-256, Scrypt, and Elliptic Curve Digital Signature Algorithm (ECDSA).

CHICABITCOIN = c542977cefd8c3ef0589a3012b0ffc901921f3033045da8d577afd17981e12f0

 

THIS IS JUST AN EXAMPLE 

 

  

 

What is a cryptocurrency?

CRYPTOCURRENCY

A cryptocurrency is a type of digital currency that, through cryptography, does not have to depend on financial or government entities, which are the ones that produce and control the money. For example, the United States has GLOBAL power, since most countries have to pay the debt in dollars. 

Thus, these are a new form of digital currency or internet money, it can be transferred to any part of the world in a matter of seconds and without intermediaries. This is known as P2P person to person! 

Like any other currency, it can be exchanged for goods and services since it contains a real and changing value, just like traditional currencies such as the Euro, Dollar, or Yen. 

CRYPTOMONEDAS is money, but it is not just any money. It is the money that is going to be used in the nearest future.

 TRADITIONAL MONEY

 

CRYPTOCURRENCIES

 

issued by a government

 

produced by computers

 

centralized. Controlled by law and banks

 

decentralized. Not controlled by any government or entity

 

Value determined by the market and regulation

 

Value determined by supply and demand

 

 Traditional money can be stolen or counterfeited

 

They use advanced cryptography technology to ensure the security and authenticity of transactions.

 

bills and coins, as well as bank accounts and credit cards,

 

only in digital format.

 

 FIAT UNLIMITED MONEY

 

 ONLY 21 MILLION BTC UNITS

the main differences between traditional fiduciary money or fiat (euros, dollars, pounds, etc.) and cryptocurrencies (bitcoin, ether, etc.).

 

The main difference is that cryptocurrencies are global, decentralized digital currencies, or in other words, they are outside the control of banks and are not backed by a central government.

 

 Consequently, cryptocurrencies are resistant to censorship.

 

Both fiat currency and cryptocurrency can be assimilated to the function of money. Both, at their core, are means of exchange used to store and transfer value.

 

Cryptocurrency, as well as fiat currency, can be used to purchase goods and services. And both contain value according to the rules of supply, demand, labor, scarcity, and other economic factors.

While traditional money is issued by governments and central banks, is centralized and regulated, and offers less privacy and security than cryptocurrencies, cryptocurrencies are decentralized, offering greater privacy and security, 

Here we can highlight that:

1. Cryptocurrencies are not controlled by any government or institution

 

 2. Their value depends directly on the trust that users place in them

 

 3. They make use of cryptography (which prevents operations from being easily modifiable, as well as being more private and secure)

 

 4. They are open source auditable and transparent to anyone 

 

 5. Your accounting book is made up of a network of thousands of nodes (computers) that make up your blockchain (chain of blocks in Spanish).

Both fiat currency and cryptocurrency can be assimilated to the function of money. Both, at their core, are means of exchange used to store and transfer value.

Cryptocurrency, like fiat currency, can be used to purchase goods and services. And both contain value according to the rules of supply, demand, labor, scarcity, and other economic factors.

 

Each one has its own characteristics that make it ideal as a payment system or as a safeguard of value according to the individual perception and opinion of each person.

WHAT IS CBD?

CBDC stands for "Central Bank Digital Currency", which translates into Spanish as "Moneda Digital del Banco Central". It is a digital currency issued by a central bank, which uses distributed ledger technology to ensure the security and privacy of transactions.

The idea of CBDCs was born in response to the growing popularity of cryptocurrencies and the concern of central banks about the possible loss of control over the money supply. With CBDCs, central banks could maintain control of the money supply and ensure financial stability and confidence in the economy. In addition, CBDCs could offer certain benefits such as reduced transaction costs and financial inclusion for those who do not have access to traditional banking services.

 

The first major CBDC initiative was taken by CHINA

 The People's Bank of China (PBOC) began exploring developing its own CBDC in 2014, but it was in 2017 that the central bank established a dedicated digital currency research and development team.

 

In April 2020, the PBOC piloted the CBDC in four Chinese cities: Shenzhen, Suzhou, Xiong'an, and Chengdu. During the trials, digital CBDC coupons were issued to citizens for use at participating stores.

 

February 2021, the PBOC launched a broader testing program of its CBDC in several Chinese cities, including Beijing, Shanghai, and Hong Kong.

The CBDC could allow the Chinese government to increase supervision of financial transactions and improve the efficiency of the financial system.

Blockchain: or chain of blocks in Spanish), is a technology that allows the creation of a distributed ledger on a computer network without the need for a central server or database. The updating and management of this accounting book can only be done in consensus with all the parties that make up the network. It's a big ledger that records all transactions by timestamp, and it's public to the whole world.

 

The blockchain is a type of distributed network that allows the development of technologies such as cryptocurrencies and what we call the Internet of Value. 

 

"Blockchain" was initially introduced in 1991 by a group of researchers (Stuart Haber and W. Scott Stornetta), who were investigating a way to apply timestamps to documents that could not be modified.

 

Important aspects about Blockchain (what makes it so innovative):

1. There is no central authority to manage this database. This makes it difficult for a hacker to corrupt the data.

 

 2. It is an add-only database, so no modification can be done after inserting the data.

 

 3. Peer to peer (P2P) distributed system.

 

 4. Greater efficiency and transparency.

 

 5. Use cryptography to build trust, accountability, and security.

 

 6. It uses a consensus mechanism (PoW) to validate transactions.

 

 7. It is Open Source, which means that it is freely available to everyone.

It is the absence of a centralized authority (bank or government) that controls or manages the network or system, it is a distributed system in which the validation and verification of transactions is carried out by a network of nodes (computers), in place of a centralized entity.

 

In a decentralized cryptocurrency network, transactions are validated and recorded on a

 

A distributed database within the blockchain, which is collaboratively updated and maintained by the nodes participating in the network. This means that no centralized entity has absolute control over the network, which is seen as a positive aspect of decentralization, as it increases the security and transparency of transactions.

 

1. Thanks to the decentralized network of Bitcoin, users can carry out direct transactions, between equals, without intermediaries that manage the exchange of funds.

 

2.As digital assets, they can be used like other monetary assets; exchanged for goods and services. Unlike traditional currencies and assets, however, it is easily transportable, divisible, and irreversible.

 

3. It improves the efficiency of the system and allows the provision of financial services at a clearly lower cost, at the same time that it gives users more power and freedom. 

 

What is DeFi?

 

Its objective is to extend the benefits of decentralization to the banking space. 

 

It can offer an alternative to the traditional sectors of loans, savings, insurance and commerce. Fundamentally it accommodates anyone with Internet access. 

 

Anyone with an Internet connection. With DeFi, the markets are always open and there are no centralized authorities that can block transactions or deny access to any of the services. These services, previously slow and at risk of human error, are now automatic and more secure because they are driven by code that anyone can inspect and analyze.

 

It is the second most important blockchain innovation after Bitcoin and over time it will be just as disruptive. 

 

There is a palpable growing crypto economy, where you can lend, borrow, short-term and long-term, earn interest, and much more. In Argentina, VENEZUELA for example, cryptocurrency users have managed to escape the strong inflation that affects the country through the use of DeFi. Companies are starting to pay their employees' salaries in real time. Some people have been known to withdraw and repay millions of dollars in loans without the need for personal identification.

 

It all started with Bitcoin...

 

Bitcoin is in many ways the first DeFi application. Bitcoin allows you to own and control value and send it anywhere in the world. It does so through a public registry, which provides a way for large numbers of people, who don't know each other, to agree on different transactions without the need for an intermediary. Bitcoin is open to anyone and no one has the authority to change its rules. Bitcoin's rules, such as its scarcity and public access, are written into its technology. It's not like traditional finance where governments can print money that devalues savings or companies that can shut down markets.

 

Ethereum is based on this. Just like Bitcoin, the rules cannot be changed against your will and everyone has access. But it also makes digital money programmable, through the use of smart contracts, allowing it to go beyond simply storing and sending value.

A node is a connection point in a network or system. with full copy on all computers 

 

In a computer network, a node is any device connected to the network, such as a computer, server, router, switch, etc.

In programming and data structures, a node is a basic element of a data structure in the form of a tree, linked list, graph, among others. A node typically contains data and one or more references to other nodes.

In blockchain, a node is a connection point to the decentralized network that contains a full or partial copy of the blockchain and can process transactions or validate blocks.

A node is a fundamental element in decentralization.

 

For this reason, the computing power of all nodes in the network is used not only to enter information, but also to protect it against unauthorized modification. As a result, the chain of blocks allows very high levels of security to be achieved compared to other technologies.

Am I in time to enter Bitcoin?

 

Yes. NOW is the best time.

 

Less than 1% of the world's population has used Bitcoin. Being one of the first to understand and use it, before the rest of the people arrive, gives you economic and professional advantages.  

 

Geopolitics, the digitization of all businesses, the lack of trust in the traditional financial system and banks, inefficiency, commissions... Everything points in one direction: the free, transparent, fair and global access model that it brings Bitcoin is making it one of the best types of money.

 

And not only the currency, an entire industry is being created around the Bitcoin network that is growing, both in terms of users and in demand for professionals who have experience in them. Blockchain technology, smart contracts, decentralized finance, etc., like email, in a few years almost any profession will require an understanding of how Bitcoin and cryptocurrencies work. Accountants, lawyers, administrators, programmers, business developers, investors and practically any profile should have this knowledge with almost the same need that is required today to use a computer.

 

Although it is true that a lot of money moves with Bitcoin, due to its great potential and the fact that more and more people are using it, we recommend that you not focus solely on that aspect. The obsession with wanting to earn money will not let you learn, and there is no better investment than doing it in yourself and your knowledge. Learn Bitcoin, how it works, what is its potential and, after that, the money can come in many forms.

 

1. Decentralized issuance

 

Undoubtedly the most important feature. No government or central bank can control Bitcoin, neither in its creation nor in its distribution. With Bitcoin, money is depoliticized, it belongs to the people, thus eliminating the control that fiduciary money exerts over the population.

 

2. Transparent

 

All transactions are public, since they are visible in real time under pseudonyms in the form of a Bitcoin address. Anyone can reveal the Bitcoin address they manage, showing with absolute transparency where every last penny goes. Imagine governments, town halls, NGOs, foundations, associations, companies... anyone can take advantage of this functionality in seconds.

 

3. Limited issue

 

In Bitcoin you cannot generate more in one morning because a politician or a banker suddenly feels like it. There will never be more than 21 million and they are all produced by mining, always under rules that are completely public.

 

4. No barriers

 

In Bitcoin you are your own bank. But when doing so you do not pay for an account opening cost, maintenance commissions or unnecessary expenses as it happens in some entities. You do not pay to have credit cards (in fact, it is not necessary). Creating a wallet is free and with it you can store all the bitcoin you want, as well as send it to any part of the planet without anyone stopping you.

 

In Bitcoin there are no subscription charges, no contracts, no permanence, no withholdings, or your data in exchange for kitchenware...  

 

5. Private

 

In times of constant information theft and industrial espionage, as well as security breaches with the appearance of advanced Big Data techniques, it is more important than ever to take care of our privacy and maintain it at a very high level.

 

Bitcoin is not completely anonymous, as we have mentioned it is pseudonymous and helps to maintain the confidentiality of user transactions. 

 

6.Global

 

You can send bitcoin to any country in the world. Bitcoin, like the Internet or email, has no borders, it is the first global currency that really works.

 

7. Quick

 

Sending any amount of money is a matter of minutes. Regardless of the amount, regardless of the destination.

 

8. Cheap

 

The cost of making a transfer to any part of the world through your bank can cost you a lot of money. When doing it in bitcoin, the cost is cents or free. It is also a way of making micropayments: using a bank to pay €0.3 to someone in Chile in gratitude for a tweet or like is UNTHINKABLE, in Bitcoin it is a reality.

 

9. Yours

 

Your bitcoins are uniquely yours. Your funds belong to 100%, it cannot be intervened by anyone, it is not possible to make “corralitos”, not even the accounts can be frozen (as happened to Wikileaks). In Bitcoin you can be your own bank.

 

10. Programmable money

 

Bitcoin is easy to implement and has an entire programming language built into it, allowing you to create executable chunks of code in the transaction. This, previously unthinkable, allows any programmer to monetize all kinds of services. Payments between fully autonomous machines are even possible, simplifying manual, complex and slow processes.

 

11. Encrypted and distributed

 

Bitcoin is very secure. It has at its core, and in each of its operations, one of the most powerful cryptographic systems that exists. More than the one used by banks or crucial services of our day to day. Its distributed nature makes it resistant to network outages or attacks: NEVER has any other computer system been operational 24 hours a day, 365 days a year for more than 12 years.

 

Even in the face of a solar storm, Bitcoin could resist, unlike other systems. This is because some of its nodes are located in World War II bunkers, protected underground including triple perimeter security.

21st CENTURY

 

Bitcoin and the cryptocurrency revolution

 

Around the year 2009, a mysterious programmer Satoshi Nakamoto created Bitcoin.

 

Bitcoin grew without employees, without advertising, and without investors, it became the largest digital currency in the world.

 

In terms of the history of money, Bitcoin is important because it brought about the following changes:

 

Traditional money is backed by governments, Bitcoin is decentralized, and the power lies with the entire network, not with a single person or entity making decisions.

 

Bitcoin gave anonymity to people who transact on the network.

 

Blockchain technology became a way to permanently store records that cannot be tampered with and are always publicly accessible.

 

Thanks to these characteristics, bitcoin took the world by surprise and offered an interesting technological advance.

 

 Most economies use monetary systems based on paper notes and coins, backed by central governments and central banks. In addition, technology has enabled the creation of new forms of digital money, such as cryptocurrencies, which are gaining popularity around the world.

Bitcoin halvings are important events for investors because they reduce the number of new bitcoins the network generates. This limits the supply of new coins, so prices could rise if demand remains high. Although this has happened in the months before and after previous halvings (which has caused the price of bitcoin to appreciate rapidly), the circumstances in which each halving takes place are different and the demand for bitcoin can fluctuate significantly.

 

The most recent bitcoin halving took place on May 11, 2020, causing the block reward to drop from 12.5 to 6.25 bitcoins. You can read our analyst's analysis of what the halving could mean for the bitcoin price over the next few years below.

 

EventDateBlock numberReward per blockTotal new bitcoins between eventsBitcoin launchJanuary 3, 20090 (genesis block)50 new BTC10,500,000 BTCFirst halvingNovember 28, 2012210,00025 new BTC5,250,000 BTCSecond halvingJuly 9, 2016420,00012, 5 new BTC2 625 000 BTCThird halving11 May 2020630 0006.25 new BTC1 312 500 BTCFourth halvingExpected for the year 2024840 0003,125 new BTC656 250 BTCFifth halvingExpected for the year 20281 050 0001,5625 new BTC328 125 BTC

 

This list is not exhaustive. Bitcoin halvings will take place every 210,000 blocks until around 2140, when all 21 million coins will have been mined.

Do your own research) is well known in cryptocurrency and blockchain circles. It refers to conducting due diligence and gathering the right type of market intelligence to make successful investment decisions. In this article, we will cover some key DYOR tools and how you can use each of these tools for effective crypto research.

 

DYOR 1: CoinMarketCap.com

CoinMarketCaP is the world's leading platform for cryptocurrency market intelligence and research. It has a large amount of market information on almost all existing coins and tokens. The amount of information is so diverse and vast that many new aspiring investors may feel at a loss as to what to pay attention to.

 

DYOR 2: DefiPulse.com

Many cryptocurrency and blockchain projects have decentralized finance (DeFi) applications. For these projects, in addition to studying the token's market capitalization, circulating supply, and other key indicators, it is useful to look at the TVL (Total Value Locked) statistics of the project.

 

DYOR 3: CoinMarketCal.com

CoinMarketCal puts together an online calendar of upcoming events for blockchain projects. Due to the large number of existing tokens and coins, tracking their future events and important developments is not an easy task. CoinMarketCal is a great resource that makes this task much more manageable.

 

 DYOR 4: CoinGecko.com

CoinGecko.com is another source of market research for cryptocurrency projects. Similar to CoinMarketCap, CoinGecko provides information on market caps, prices, and trading volumes for a large number of coins and tokens.

 

The website is also a good source of cryptocurrency intelligence in the form of podcasts, a newsletter, and industry commentary.

 

DYOR 5: Google Trends

Google Trends is a useful free research tool that is part of Google's suite of analytics tools. Indicates the popularity rating and trend over time for any searched word or phrase on the website. You can use names or symbols of chips and coins in order to see their popularity and trend.

 

Web pages and social networks of the projects

No DYOR exercise would be perfect without a close study of a blockchain project's own website and social media pages. It is important to research the project website to find key information such as:

 

 

 

People behind the project, which includes the founders and probably also the development team. Some projects provide extensive details about the people involved, while others have a paucity of information. This lack of information can be a useful piece of information on its own: projects with less transparency about the team involved may require more scrutiny.

Detailed process of how the platform or application works, including its tokenomy. This is usually detailed in the project white paper.

Any venture capital attracted by the project.

Details about the rights of ownership, voting and profitability obtained by the holders of the tokens. Again, this is often described in the project's white paper. However, some of this information may not be clearly covered in the document, but may be available elsewhere on the website, or even on social media pages owned by the project.

Wallets and exchanges that support the project token

 

While the website, and especially the white paper, can be great sources of fundamental information about the token, the social media pages, especially the Twitter accounts, are great sources of news about the latest token-related events.

 

Currency for our digital future

 

ETH is global digital money.

 

It is the currency of Ethereum applications.

 

A fairer financial system

 

ETH is a cryptocurrency. It is limited digital money that you can use on the internet, similar to bitcoin. If you are new to the world of cryptocurrencies, this is how ETH differs from traditional money.

 

Today, billions of people cannot open bank accounts, others have their payments blocked. Ethereum's decentralized finance (DeFi) system never sleeps or discriminates. With just an internet connection, you can send, receive, borrow, earn interest, and even transfer funds anywhere in the world.

 

the internet of assets

 

Ethereum is not just for digital money. Anything you own can be represented, traded, and used as a non-fungible token (NFT). You can “tokenize” your art and get commissions automatically every time it is sold again. Or use a token from something you own to borrow. The possibilities are continually growing.

 

nfs

 

Non-Fungible Tokens (NFTs)

 

A way to represent anything exclusive as an Ethereum asset.

NFTs are empowering content creators more than ever before.

Powered by smart contracts on the Ethereum blockchain.

What is a Smart Contract

 

A Smart Contract (or smart contract) is a contract capable of being executed autonomously and automatically, without the intermediation of a third party between the parties that sign it.

 

Unlike a traditional contract, the written word is replaced by computer programming. In addition, a smart contract allows the updating of any of its elements, and the immediate modification of the consequences that this change could entail.

 

It is a model developed in the 90s of the 20th century theoretically, but which, thanks to the chain of cryptocurrency blocks, has been able to begin to be widely developed.

Being anchored to a currency, mineral or commodity, they will follow their value very closely, maintaining a stability that cryptocurrencies do not have. This was the main reason for creating stablecoins, to generate a means for cryptocurrency users. In this way, value can be safeguarded using blockchain technology, without having to fall into the use of cryptocurrencies and their extremely high volatility. 

 

In this way, for example, a business in Spain could put its products up for sale and receive payments from anywhere in the world through the use of stablecoins. In this way, the price of its products would be somewhat stable and the payments received would have the same value. same value regardless of whether Bitcoin or Ethereum go up or down on a daily basis.

 

ORIGIN

 

The developer community begins discussions about the usefulness of this type of asset. BitShares emerged from these discussions, a platform created by Daniel Larimer, a well-known character within the Bitcoin ecosystem and whose vision gave rise to DACs (Decentralized Autonomous Company, EOS technology and Steemit. Charles Hoskinson (co-founder of Ethereum) also participated and creator of Cardano) Both led the project to a rapid development that gave rise to BitAssets, among which were bitUSD, bitGOLD or bitEUR.

 

2014

 

Rise of Tether

 

The arrival of Tether would change everything. USDT developed the world's largest stablecoin, one that is still widely used today. Its issuance began by using OmniLayer technology, so USDT was a stablecoin token pegged to the dollar using Bitcoin technology.

 

2015 The Bitfinex Push

 

Bitfinex became one of the first platforms to support a stablecoin and begin to make all of these types of coins available.

Being anchored to a currency, mineral or commodity, they will follow their value very closely, maintaining a stability that cryptocurrencies do not have. This was the main reason for creating stablecoins, to generate a means for cryptocurrency users. In this way, value can be safeguarded using blockchain technology, without having to fall into the use of cryptocurrencies and their extremely high volatility. 

 

In this way, for example, a business in Spain could put its products up for sale and receive payments from anywhere in the world through the use of stablecoins. In this way, the price of its products would be somewhat stable and the payments received would have the same value. same value regardless of whether Bitcoin or Ethereum go up or down on a daily basis.

 

ORIGIN

 

The developer community begins discussions about the usefulness of this type of asset. BitShares emerged from these discussions, a platform created by Daniel Larimer, a well-known character within the Bitcoin ecosystem and whose vision gave rise to DACs (Decentralized Autonomous Company, EOS technology and Steemit. Charles Hoskinson (co-founder of Ethereum) also participated and creator of Cardano) Both led the project to a rapid development that gave rise to BitAssets, among which were bitUSD, bitGOLD or bitEUR.

 

2014

 

Rise of Tether

 

The arrival of Tether would change everything. USDT developed the world's largest stablecoin, one that is still widely used today. Its issuance began by using OmniLayer technology, so USDT was a stablecoin token pegged to the dollar using Bitcoin technology.

 

2015 The Bitfinex Push

 

Bitfinex became one of the first platforms to support a stablecoin and begin to make all of these types of coins available.

The difference between a stablecoin and a CBDC is that one is a synthetic derivative of a fiat currency created by a private company, and the other (CBDC) is strictly a fiat currency produced by a central bank.

 

China, being the second largest economy in the world, leads the way by implementing its first digital currency backed by the Central Bank. It is known there as DCEP

 

The question that arises now is whether, once the CBDCs are launched, stablecoins like Tether have a future. To a large extent, this will depend on the Federal Reserve of the United States, first of all, on international financial organizations and the rest of the central banks of the world.

 

If CBDCs serve as a gateway into and out of the world of digital assets, they will deal a death blow to fiat-based stablecoins and along with them some illegal practices based on paper currencies will die as well.

 

Imagine a future where everyone who uses a digital currency is mandatory and complies with the KYC and AML protocols, Know Your Customer (know your customers) and Anti-money Laundering (money laundering prevention), to access to an electronic wallet, it is totally possible nowadays. The question is how many rulers want this? 

 

There is a palpable growing crypto economy, where you can lend, borrow, short-term and long-term, earn interest, and much more. In Argentina, for example, cryptocurrency users have managed to escape the strong inflation that affects the country through the use of DeFi. Companies are starting to pay their employees' salaries in real time. Some people have been known to withdraw and repay millions of dollars in loans without the need for personal identification.

 

DeFi versus old finance 

 

One of the best ways to determine the potential of DeFi is to understand the problems that exist today.

 

Some people do not have access to a bank account or the use of financial services.

Lack of access to financial services can prevent people from getting a job.

Financial services can block your money transactions.

Your personal data is a hidden burden on the financial services you use.

Governments and centralized institutions can close markets at will.

Business hours are usually limited to business hours in a specific time zone.

Money transfers can take days due to internal human processes.

 

There is a premium to the use of financial services because intermediary institutions need their share.

 

Crypto.com is considered the best site for:

 

Buy and sell cryptocurrencies

Pay your daily expenses with cryptocurrencies

Earn interest on your cryptocurrencies

Invest your cryptocurrencies

Get a loan with your cryptocurrencies as collateral  

Receive payments from third parties in cryptocurrencies

The team behind Crypto.com is committed to bringing cryptocurrencies closer to everyday life, bridging the gap between the world of cryptocurrencies and the world of traditional banking.

 

 its mission is to “accelerate the global transition to cryptocurrency.”

 

I can openly and unabashedly admit that the Project you have started is commendable, multi-faceted, and completely encompasses the subject of cryptocurrencies.

1. DOWNLOAD THE APP 

 

2. ENTER WITH MY REFERRAL LINK: qzwkj7dfem 

 

3. ENTER YOUR TRUSTED EMAIL I recommend this https://proton.me/ it is an encrypted email, and then they put the 2FA double authentication factor

 

4.CHECK YOUR MAIL 

 

3. YOUR CELL NUMBER AFTER VERIFY

 

4. CREATE PASSWORD (DO NOT FORGET)

 

5. VERIFY YOUR IDENTITY DOCUMENT 

 

6.FACE ID

 

7. 24 HOURS OF VERIFICATION 

 

WELCOME TO THE WORLD OF THE POSSIBLE.

 

REMEMBER THAT THIS IS THE CENTRALIZED WORLD IN THE DECENTRALIZED WORLD WE WILL NOT HAVE TO GIVE OUR PERSONAL INFORMATION BUT THAT IS A MORE ADVANCED COURSE THAT I WILL GIVE YOU 

 

REMEMBER YOUR SECRET KEYS YOUR COINS 

 

THEY WOULD ACT AT THIS MOMENT AS KEEPER OF OUR PASSWORDS.

IMPORTANT TO USE WISE OR SKRILL TO RELOAD TO CRYPTO.COM

 

IMPORTANT TO SEND FROM WISE OR SKRILL TO CRYPTO.COM SO THAT THEY CHARGE YOU LESS COMMISSION WHEN SENDING THE MONEY 

 

IF YOU RECHARGE IT FROM CRYPTO.COM IT WILL BE MORE EXPENSIVE

 

USE FIAT FIAT WALLET VERY IMPORTANT 

Everything has been seen, and every day thousands of people fall into all kinds of deceptions.

 

My recommendation is very simple, if you want to invest in Bitcoin, buy them and when they go up in price, sell them if you want and collect benefits. Don't give them to anyone or fall into the "put them to work" trap.

 

 Bitcoin already has enough profit potential in itself to add layers and layers of new risks.

Despite this, my experience has taught me that many of you will ignore this phrase and send your bitcoins to some scammer.

 

Scammers are highly creative, and they will have no problem showing their face, identity, wearing a suit and everything you need to see to believe that they are "successful" people and that they are offering you a profitable business.

Be VERY careful who you send your cryptocurrency with.

Losing access to your cryptocurrencies, YOUR KEYS, YOUR BITCOIN, NO KEYS, NO BITCOIN

Another typical problem is the loss of the keys that give you access to your bitcoin.

Did you know that Satoshi Nakamoto didn't keep the private keys of around 1 million bitcoin? 

This is something that he has said publicly. Although it is also true that at that time a bitcoin was worth absolutely nothing, and he had no motivation to keep those keys.

However, a reality is that access keys to small portions of Bitcoin are constantly being lost.  

Unlike the password of a platform, where you can click on the recover password button, when a private key is lost there is no way to regenerate it. This must be very clear.

Being your own bank carries this risk.

Here I will teach you how to create a free wallet where you can manage your cryptocurrencies very easily and with free access. Within a centralized exchange. Where they will store your passwords for you, you will enter with a trusted email address. However, if you ever make the leap to a wallet where you can manage your own passwords, you will delve deeper into the world of defi, that is, on your own. You will take responsibility of your cryptocurrencies. Be sure to make a backup copy of the keys, saving them extremely well. In a place where only you know. DO NOT SHARE YOUR KEYS. YOUR KEYS YOUR BICTOINS, NO KEYS, NO BTCS 

Without that backup, if you lose access to the wallet, you will lose access to your bitcoins. Or other cryptocurrencies

Another risk, which is not technically a key loss, is that a virus will copy your key. In this way, a cybercriminal can move your cryptocurrencies to his wallet, losing everything. Worry well about taking care of the health of the computer equipment you use to manage your cryptocurrencies.

Robbery to a platform

In second place is the risk of stealing from the platform where you store your bitcoin.

 

It is common to use bitcoin to trade or add balance on other platforms that offer you goods or services. However, if that platform is stolen, you could lose your cryptocurrencies.

Send cryptocurrency to another address

The normal way to send bitcoin, or another cryptocurrency, to an address is by copying or scanning it.

 

When you copy the address you have to be careful when pasting the address, always checking that it is the correct address. There are viruses and malware that detect the pattern of a cryptocurrency address when copying it, and modify it so that when you paste it, the offender's address is attached.

Always CHECK that the address to which you are going to send cryptocurrencies is correct.

That you send bitcoin to an address that is not of that cryptocurrency, even if it looks similar

Did you know that the addresses of the Bitcoin cryptocurrency and the Bitcoin Cash cryptocurrency are the same.  

This is so because Bitcoin is an open source project. This has caused thousands of cryptocurrencies to clone their code, leaving similar addresses.  

 

And this happens with many other cryptocurrencies. Also in the case of Ethereum, where the tokens share the same type of address.

For example: if you send bitcoin to a Bitcoin Cash address, it could be that the bitcoin sent will never be recovered, as it requires advanced knowledge.

 

Get robbed or kidnapped

It sounds like a movie, but it could happen. If you publicly advertise the bitcoin you hold, you could be a target for muggers and kidnappers looking to take your bitcoin "fortune."

Be careful about making it public that you own cryptocurrencies and, above all, saying how much money you have!

As you have seen, the risks of using Bitcoin exist. In the same way that there are also risks when buying a house. Bitcoin is great, without a doubt, but it is important that you know these points from the beginning to act accordingly.

 

What is the first thing I should do to avoid losing my cryptocurrencies?

It is one of the first aspects to take into account. The number of users who use Windows is higher than that of other operating systems such as OSX or Linux, which is why they are the main target of these attackers.

Sometimes people tend to use Linux to avoid precisely this problem, but we should not be confused... using other operating systems without the proper protections in the file system is also an open door to possible theft.

It is very important to be clear that the security of the work environment is very important both for the prevention and for the detection of scams. Below we will detail the incidents that can occur in three large groups: software, web and investment.

 

Why in these three categories? Because not all bitcoin-related scams happen from computer programs. Many of them can be closely linked to participation in investments or projects related to the cryptocurrency ecosystem without having to go through a software or website.

Bitcoin scams at the software level

Very common in recent years. The attackers' system is very clear: take advantage of the launch of software, such as Bitcoin core or altcoin wallets, to publish a file pretending to be the official file and thus infect as many computers as possible that were searching for it. a legitimate update.

 

Consequences

 

Total or partial loss of personal information and bitcoin stored on our devices since they can do everything in their power with the files in your wallet.

Sometimes these rogue programs can be a complete utility package to get everything of value from your computer and even use it as a zombie computer.

Prevention

Store as little bitcoin as possible in hot wallets. Cold wallets such as paper wallets or hardware wallets are a very good option to add a double layer of protection against unwanted withdrawals.

Encrypt all the wallets you have in your Bitcoin wallet. At the time of trying to make a withdrawal, the attacker will have a much more difficult time making any withdrawal of bitcoin from your wallet.

Check the versions that are downloaded from the wallets and their signatures. Developers usually publish all updates along with instructions for verifying version signatures.

Avoid downloading suspicious content from email messages with spoofed domains that emulate Bitcoin-related portals.

Consult portals such as virustotal for the integrity of the downloaded files.

Bitcoin scams on the web

Have you ever heard the word 'phishing'?

We will try to summarize it in two lines. By using this technique, a web page is created practically similar to that of any exchange house or online wallet. The attackers usually post it in links very similar to the one of the company to which it is being replicated, they attract traffic to the web and people access it thinking that they will enter their account when they are really sending the data to the person who is stealing from them.

 

One of the most common examples is the one that has occurred on at least half a dozen occasions replicating the browser and online wallet blockchain.info (one of the most used Bitcoin wallets). Giving an example and with a domain that only replaces the l with a capital I, we would have the domain bIockchain.info. They then promote the link using Google's ad plans, Google Adwords so that their portal appears in the top position when people search for “blockchain.info”, “blockchain”, “wallet bitcoin online” and all sorts of similar terms. As you can deduce, the number of users who fall for this type of scam is enormous.

Consequences

Total or partial loss of your bitcoin by losing access to your accounts.

Exposure of personal data to the attacker. Many of the portals they could access could contain private information.

Prevention

 

Use double authentication factor or 2FA in all your portals. In this way, whenever someone wants to access them, they will find a second key that they do not have.

Always verify that you are accessing correct web addresses and not fraudulent links in Google ads.

Check that the connection is secure (padlock icon next to the url in your browser) to prevent your data from being intercepted.

doublers

 

At the end of 2015 and even at the beginning of 2016 there was a boom of web pages that claimed to double the amount of bitcoin and even a long list of alternative cryptocurrencies. The systematics of the attackers was also very clear. They started the portal, promoted it in the main cryptocurrency communities, left the doubler operating with the money of the last ones to enter until finally, in less than a week, they closed the website and with it all the deposits that had been made to it. .

 

Also, and after the modus operandi of this scam became known, some of these websites changed their logic. They even reward random users when you send small amounts but do nothing for larger amounts. That is, you send €0.5 and they compensate you by doubling €1, but you send €10 and they keep it.

 

Consequences

 

People comment that they are receiving double payments, but the nature of these pyramid or PONZI systems leads them to collapse and that is when those who have developed it decide to close the web and take with them all the last funds entered.

Loss of all or part of the funds of any person who sends money through these types of portals.

Prevention

No one gives away or doubles money by magic. Neither the math nor the code lie, so there is no system capable of doubling your income more than the funds of those who have come after you.

Stay away from any platform that promises to double your funds. Or just give yourself a little more. Nobody gives away money.

Fake ICOs

 

Many cryptocurrency-related projects do a pre-launch cryptocurrency sale on exchanges or software releases to fund the cost of running it. It is what is known as ICO (Initial Coin Offering). There is nothing strange about this, the truth is that they can be very profitable investments, and there are plenty of examples of this, until you put the money into a fake ICO.

 

In the same way that it is known that ICOs can result in very profitable investments, multiplying the initial investment by 10 or 100 in a short time while collaborating in the development of innovative tools, there are those who take advantage of this reality to create a website with an idea. attractive background, convincing people to deposit their bitcoin at the address of the scammer, who subsequently disappears.

 

Prevention

 

Check that the project you are going to finance has a well-known team or company behind it, showing its face.

Reddit and the cryptocurrency forums are ideal places to compare opinions of the community and start to analyze.

I know that not all of us know about web development, but if the web seems to be done "in two days", suspect.

cloud mining

 

It could be added in the next point, but the main scams related to cloud mining are based on a simple web page. The fashion trend in 2016.

 

As many of you already know, Bitcoin mining is very complicated on an individual level. Many decided to start web pages that sold mining power (hashing) guaranteed a return on investment or ROI in a short period of time.

 

Either people don't learn from previous experiences or they just like risk… but if one thing is clear it is that no one can currently offer you returns on investment in Bitcoin mining in days or weeks.

 

Consequences

 

With the closure of a large number of cloud mining pages, many users lost all the money invested in said portals. It must be borne in mind that to start mining in the cloud what you do is acquire some mining power in exchange for bitcoin.

Many portals do not even publish data on profitability or are very confusing.

Prevention

 

Do not trust third-party services that control your mining or your assets. If you really want to start mining, you will have to do an exhaustive analysis of the situation and if it really offers you the return you expect.

Stay away from all those who can contact you by private message commenting on wonderful discounts or perfect returns, they simply do not exist or are not as indefinite as they want you to believe.

Free cryptocurrencies, “Give Away”

 

They are legions of fake profiles that continuously spam on social networks promoting supposed sites where they 'give away bitcoin or other cryptocurrencies'.

 

These profiles promote the famous 'Give-Away' (gift or gift in English), their modus operandi is as follows: they pose as relevant characters from the cryptocurrency scene and publish messages with the intention of deceiving people, inviting people to some websites where they ask you for money to receive much more.

 

Many people continue to fall for these deceptions, so please keep in mind that, if necessary, if someone wants to give you something voluntarily and disinterestedly, they do not ask you for money beforehand: be careful with that.