A Quick Intro about Cryptocurrencies and its Importance.

For the first time ever in human existence we have a secondary option to a non-governmental controlled currency.

For the first time ever you and I have a secondary option and this is why bitcoin is so important or any cryptocurrency bitcoin ether and many different other ones but bitcoin was the first one created by Satoshi Nakamoto

If you bought just $1,000 of bitcoins in July 2010 you would now have 90 million dollars on your hands. 7 years ago the cryptocurrency has steadily been climbing in value. 

What is driving Bitcoin Sergent value?

  • One reason could be the recent upgrades to the system transactions are faster and fees are lower. 
  • Another reason might simply be that more people know about it and are comfortable with the idea of a cryptocurrency including investors as more mainstream traders and investors get on board the currency is seen as increasingly robust for the uninitiated.
Bitcoin is a virtual currency created by a mysterious individual who goes by the name Satoshi Nakamoto though that is most certainly not his actual name Nakamoto introduced his idea for the cryptocurrency in a research paper in 2008 and it was implemented in 2009 as open source code. 

His reason for creating Bitcoin came down to the flaws he saw in the current system banks devaluing currency a lack of privacy and security.

Thanks predatory lending practices and the difficulties and expenses with transferring money with a currency based on cryptographic proof without the need to trust a third party middleman. Money can be secured in transactions effortless.

Bitcoin is not actually a coin but a line of unique code and like the dollar bill today.

Bitcoin has value because people give it value like gold. There's a fixed amount of 21 million bitcoins on blockchain that can exist in the world.

Blockchain is a digital ledger that keeps track of every single transaction made in the Bitcoin network making it especially secure because everything is public and everything is tracked. 

It is the world's first open financial Network as people become increasingly wary of government control over individual assets. 

Bitcoin becomes more and more viable your own personal bank that no one can touch your Bitcoin is stored in a wallet. this while it can be a digital wallet or even a physical one wherever you think your unique key a long string of numbers that is yours and yours alone will be safest.

Why bitcoin is so important and why you need to understand it?

Now the reason why bitcoin is so important and the reason why you need to understand it. Technically speaking but understand the concept of it and understand how cryptocurrency works is because it gives you an option to opt out. It gives you many multitude different options and opportunities to benefit you and your family around the world and I'll tell you exactly why so.

If you look at our banking system right now and I'm not going to go into crazy details about it but if you do look at it. You look at the Federal Reserve System. 

You look at how they do banking? what inflation rates and actually lending out 9/10 of what they supposedly have in the reserves as fraction. 

The reserve system they have it is absolutely absurd you. If you look at 2008 with the bailouts they gave the banks, they gave the insurance company, they gave to car companies hundreds and hundreds of billions of dollars literally printed on the spot which what happens it devalues your currency. 

It devalues a whole economy and inflation goes up and there's something to say when the actual nation's interest rate can't go up, Canada can't go up, United States can go up for damn sakes. 

Japan is minus or negative interest rate that tells you something a lot and it tells you, we are in big trouble and you see all around you right now currency war is. 

What happened in India they eliminated two denominations of currencies, what happened in Cyprus not too long ago the whole government shut down and took people's money. 

What happened in the 70's and the 80's the United States. So listen the money that you have funny money to tell you the truth. there's nothing backing up, there's no goal backing up, there's no silver backing up. it's literally numbers that some bank told you is worth something but it is not worth anything.

So what Bitcoin does for you ?

It actually gives you for the first time ever in human history. it gives us a secondary option that is not controlled by the government, is not controlled by the Federal Reserve System. 
You and I right now can buy Bitcoin. I can go on to many different apps, I can go on certain exchanges, you can buy it from local, you can buy bitcoins in any different currency, you can earn Bitcoin too. 

So now you have Bitcoin or you have any other different cryptocurrencies like Ether you can send it anywhere in the world. So if I want to get this, so if I want to right now send Bitcoin to my friend in any country and I'm going to send him right now 5000 dollars with a Bitcoin it's probably going to cost me less than 75 cents to send him 5000 dollars worth of Bitcoin and it took me less than an hour for him to get it as opposed.

If I go to my bank and I want to send him 5000 dollars we have to go to through Swift. We have to you know institution number, account number, all these different numbers, wait about 72 hours and pay roughly about 40 bucks for me to send the money that's ridiculous a 2006 at the mercy of the banks for what even if going for my own branch to their own branch in a different country they still charge the money as opposed to with cryptocurrency you are the bank… 

You own the bank in your phone even if your phone is lost you can back it up with certain mnemonic codes that original phone that has lost completely gets a raise as soon as you back it up with your new code or a new device or online. 

So for the first time ever if a currency starts deflating or starts be valuing its buying power such example as India about the currency devaluating to the nominations, you saw Bitcoin skyrocket. I think it was like 1,100 at this highest point because what do you do at that point when you're buying power literally decreases by half the dollar they have in the bank account regardless if you have one dollar or a million dollar is worthless.

Well for the first time ever you and I have the option of buying cryptocurrencies from our phone whether that be Bitcoin, would that be Ether, whether that be - there's thousands of different alternative coins but now we can buy it, bring it to a phone and have an actual economy that is not connected to a Kabbalah that's controlled by men and suits that we have no idea what they're doing and what their purpose is. 

So this is why I'm such a proponent of Bitcoin this is why it's such a proponent of blockchain technologies and cryptocurrency and we could take this a step further.

You know the World Bank says or the World Economic Forum estates that is roughly 2 billion people who are unbanked in the world that's 2 billion people who do not have a bank account because the government doesn't trust them and won't give them a bank account or because it's too corrupt in their countries.

Now for the first time ever all they need is a phone and an internet connection and they can have their own bank account on their phone. now they can do global commerce, they can do local commerce, they don't have to worry about corrupt governments that have to worry about the mafia around them because they are their own bank and this has ramifications everywhere. 

Just imagine if we just hand out affordable phones to everybody and bring them on to this crypto economy online on a decentralized distributed platform and this is why I am a huge optimist of the future and I think the future is bright and I love the fact that this type of technology actually empowers people.

Furthermore if we're looking at charities working foundations a lot of charities are corrupt I have no idea where money goes and charity and with a blockchain technology cryptocurrency currency everything becomes transparent. 

So instead of us trying to give money to a charity what's half the time Seymour on would've charity because a whole bunch for our charity to exist is to solve a problem but yet the charity has been around for 50 years a problem still exists in fact the problem probably is more exacerbated than ever so that's an oxymoron in my mind however why should I give money to a charity which it's a trickle-down effect a dollar here ends up being a penny down there when I can give from person to person same ideas GoFundMe

But instead of crowdfunding literally if a person is a need and they need some money I can send them Bitcoin whether that is 10 dollars with a Bitcoin or 100 dollars with a Bitcoin instantaneously in real time and this is why I think this technology the underlining blockchain technology is going to revolutionize the world as we know it for the first time ever and I know I keep on repeating this but it's a big deal. 

For the first time ever we have a second option we can opt out of the fiat currency system and create our own economy and marketplace that is not controlled by anybody.

Okay and that stuff and to wrap it up I highly recommend it get involved buy some Bitcoin, buy some Ether, download some apps. There's a many different wallets. Download a wallet do some exchanges with people and really get involved in this and actually dive in deep and feel it how it feels to buy some cryptocurrencies, sell some cryptocurrency transfer cryptocurrency and that's the first step in to dive into this world.