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Crypto 101: What is Cryptocurrency, Who Invented It, And What Is Crypto's Future?
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February 23, 2022
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February 23, 2022
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2:38Now PlayingWhat is cryptocurrency? Check out the video to find out.
Welcome back to Bold TV with David Grasso. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
Cryptocurrency is a type of digital currency designed to be decentralized and anonymous. Since the Great Recession of 2008, crypto has been in high demand.
Since then, cryptocurrency has become one of the most popular investments of the decade, with thousands of people becoming billionaires overnight.
For those of us seeking a creative and futuristic investment, it may be a worthwhile investment. So, what if you could have a kind of money that couldn't be deceived and could be used in any country without your name being sold? It's cryptocurrency, not science fiction.
The phrase crypto or cryptocurrency is familiar to most people, with news and social media frequently focused on one of the most well-known varieties, such as Bitcoin. However, there are many others, such as Dogecoin or Shiba Inu.
At its heart, cryptocurrency is extremely similar to traditional currencies such as the dollar, pound, and euro. It has monetary value, but it is a wholly electronic money that cannot be hacked, is completely anonymous, and is accepted in every country on the planet.
In case you're wondering, cryptocurrency was first invented by accident in 2008 by a person or group known as Satoshi Nakamoto. The "accident" happened during the 2008 financial crisis, also known as the Great Recession. And Bitcoin was created from the start to be a simple decentralized digital money without the need for a central bank or administration, i.e. a government.
As a result, the government is not participating. It's a peer-to-peer system that eliminates the need for an intermediary. A technique known as the blockchain is used to conduct Bitcoin transactions. And blockchain is a breeze to use. It's simply a public ledger with all transactions deployed in a chain of blocks to track the Bitcoin payer and payee's transactions.
Cryptocurrency is without a doubt one of the most rapidly increasing assets in the last decade. It's had a lot of crazy swings up and down, and we're still seeing them. And regular individuals make and lose money by purchasing and selling a wide variety of coins.
Let's fast forward to the present day. People are concerned that governments will take action against bitcoin, maybe making it illegal and wiping out trillions of dollars in value. Others believe that crypto will continue to rise and that they should invest their entire life savings in it.
Politics is at the heart of the situation in each case. Whoever rules Washington and other governments across the world will have a significant impact on the value and future of cryptocurrency.
Have you invested in crypto? Let us know what you think in the comments below!
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