The pieces of your new puzzle will come together, sooner than you may expect.
Do you tend to learn more quickly, Visually? Many People do.
Back to Basics, Beginning with a Cartoon.
Starting with a Short, Basic Explanation of CryptoCurrency Technology...
https://youtu.be/quluHxAZkVU
What is Fiat Currency?
Basically, Paper Money...You use it daily. What Book should we be Reading? 'The Age of Cryptocurrency', Authored by... Wall Street Journalists Paul Vigna and Michael J. Casey.
In THE AGE OF CRYPTOCURRENCY, Wall Street journalists Paul Vigna and Michael J. Casey deliver the definitive answer to this question. Cybermoney is poised to launch a revolution, one that could entirely re-invent traditional financial and social structures while bringing the world's billions of "unbanked" individuals into a new global economy. Cryptocurrency represents the promise of a financial system without a middleman, one owned by the people who use it and one safeguarded from the devastation of a 2008-type crash.
But bitcoin, the most famous of the cybermonies, brings with it a reputation for instability, wild fluctuation, and illicit business; some fear it has the power to eliminate jobs and to upend the concept of a nation-state. It implies, above all, monumental and wide-reaching change—for better and for worse. But it is here to stay, and you ignore it at your peril.
Vigna and Casey demystify the concept of cryptocurrency, detailing its origins, its function, and what you need to know to navigate a cyber-economy. The digital currency world will look very different from the paper currency world; THE AGE OF CRYPTOCURRENCY will teach you how to be ready for it.
“Vigna and Casey's thorough, timely and colorful book is a rewarding place to learn it all.” ―The New York Times Book Review
“For any book on bitcoin to be worth reading, it has to delve further: into the crypto-currency's ideological and technical roots, for instance, or what it adds to the narrative of money, or even what its economic and political impact may be. The currency's...underlying technology provides plenty of intellectual fodder-and is unlikely to go away. So there is plenty to write about if you are serious. Paul Vigna and Michael Casey, two journalists at the Wall Street Journal, are certainly serious.” ―The Economist
“[Vigna and Casey] have produced more than a bitcoin 101: their [book] is a smarter, more holistic take on not just bitcoin, but the potential of all digital currencies to change the way we send each other money.” ―Fortune
Available on Amazon, we have the Kindle version, more formats, descriptions and reviews are available at:
https://www.amazon.com/Age-Cryptocurrency-Bitcoin-Challenging-Economic-ebook/dp/B00L73JQ18/ref=sr_1_1?s=books&ie=UTF8&qid=1467918610&sr=1-1&keywords=the+age+of+cryptocurrency
In our research, we found an 'Easy to Understand' Cryptocurrency website, here are a few articles of importance.
Definition of Cryptocurrency
What exactly is cryptocurrency, how did it get its name, and how is it coded? Take a look at Coin Pursuit's plain-English definition of the term.
When
you see the word root “crypto” in the English language, it comes from the
Greek, meaning “hidden” or “private.” From it, we get words like “encryption”
and “decryption,” which relate to the coding of a message, and its decoding
once it's received. Even the English word “crypt”—which uses the Greek root in
its purest form—refers to a private hiding place, a sanctuary for the remains
of a loved one.
Cryptocurrency, then, means money that
is made hidden and private—and therefore secure—by means of encryption, or
coding. All aspects of cryptocurrency are protected by long and complicated
blocks of code, each of which is unique to the item or person it's protecting.
As an investor, or someone taking part in a transaction, you're identified by a
one-of-a-kind code, as is the person or company with whom you're doing
business. Each “coin” of cryptocurrency itself has its own code, and smaller
denominations have their own, as well, depending on what amount is needed for a
transaction. Finally, the transaction itself is identified with its own code.
Layer upon layer of encryption is one of the things that makes cryptocurrency
unique, secure and anonymous, if you so choose. And all that coding and
concealment is what gives cryptocurrency its apt name.
As is true in any technical field, the
industry of cryptocurrency not only has its unique jargon, but often terms that have synonyms that are used
interchangeably. Therefore, we'd like to clear the air on that specific point
right here: when you see the terms “digital currency” or “alternative currency”
here—or in any other source, for that matter—those are just additional terms
for cryptocurrency. As a matter of fact, you'll more than likely see “digital
currency” used more often, as it has a less-technical and more user-friendly
feel to it.
Advantages Over Traditional Money
What are the differences between cryptocurrency and regular bill-and-coin money? Coin Pursuit will take a close look at digital currency's advantages.
First
and foremost, digital currencies, like Bitcoin for example, aren't linked
directly to the laws, rules or regulations of any government, corporation or
bank. The interest rates, fees and surcharges you may have to pay on your bank
account or credit card in no way effect your cryptocurrency. As a matter of
fact, at the heart of digital currency is a sense of rebellion against these
fees, some of which are so deeply buried in fine print as to be considered “hidden.”
Along those same lines, the rate of inflation that can potentially diminish the
purchasing power of your government-issued legal tender (such as the US dollar)
doesn't touch the value of any alternative currency you hold.
Digital currency affords its users
complete anonymity. When you make a purchase with your ATM or credit card, your
personal information—your name, physical address and often other identifying
data—is attached to each and every transaction. Businesses, banks and
governments can use this data to track you and take note of your purchases. In
contrast, cryptocurrency transactions carry no personal information without
your adding it yourself.
Accounts that hold traditional currency
can be garnished or frozen completely; the latter means the holder of the
account has no access to the funds in it. Since cryptocurrency exists outside
the regulations and laws that
allow this to happen, it's very rare for an investor to be rendered unable to
access his coins—though in certain situations in which illegal activity is
proven to have taken place, it can happen.
Investor Experience Not Necessary
Interested in investing in cryptocurrency, but you're not a Wall Street wizard? Coin Pursuit takes a look at why that isn't necessarily an issue.
We've
seen this quite a few times: We'll be discussing digital
currency with friends and/or colleagues, and when the investment facet of the
industry comes up, they get really quiet. You can almost see the expression of
dismay creep onto their faces. After further discussion, they express their
concern that anyone who isn't well-versed in stock markets and commodity
exchanges shouldn't be investing in cryptocurrency. They simply don't feel they
know enough to do it right.
Yes, digital currency can be an investment. Some people
buy it so they can spend it just like traditional currency, but some make the
investment in the hopes that it will ultimately be worth more than what they
initially put into it—that, by the way, is what we call a return on investment
(ROI). Like any stock or commodity, wise investing will, over time, result in a
higher ROI.
But take heart! That isn't to say you
need to be a financial wizard in order to invest in cryptocurrency. We've said
it before, and we'll say it again: it's a young field, and everyone involved in
it is still figuring out its twists and turns. What's nice is that you aren't
by any means alone, and there's a healthy and growing support network of fellow
investors who are more than happy to help you with any questions you might
have. On our site—and on those of the resources we'll list for you—you'll find
stories, FAQ pages, and articles that will walk you through every step of the
investment process. Along with other
investors, you'll learn what works and what doesn't. The investors in
cryptocurrencies are also its owners, so it's in everyone's best interest for
all involved to do well. You'll get through this, we promise! And it won't be
as hard as you think.
Insights on a Young Industry
Cryptocurrency's been getting a lot of press lately, and has been the basis of a lot of rumors. Coin Pursuit steps in to help clear up some of those.
Alternative
currencies are at the heart of a young and exciting new industry—and as a
result, they've gotten a lot of media attention. As you can imagine, some of
that attention has been negative. We'd like to step back here and give a couple
of those issues some sorely-needed perspective.
Since cryptocurrency transactions are
anonymous, it's inevitable that some less-than-scrupulous characters will use
them for illegal activities.
There are several articles out there that discuss how digital currencies like
Bitcoin and Litecoin have been used for drug trading and money laundering. Do
we really need to point out that could happen with any financial tool you can name? Let's take a look:
These articles seem to overlook
that all types of currency
have been used illegally throughout human history. Mob bosses like Al Capone
and John Gotti laundered untold millions of dollars, and used a lot of that
money for illegal purposes. British loyalists during the American Revolution
destroyed new American currency to devalue it. Even back in Merrie Olde
England, Robin Hood raided the royal treasury and distributed it among the
poor. (Okay, it's true he's considered a hero, but under royal law it was illegal.) Our point? Don't
condemn digital currency overall just because a few bad apples are putting it
to bad use. It's nothing new, nor is it unique to cryptocurrency.
You'll see articles that discuss the
active cryptocurrency markets, and how some rise and fall rapidly. Turn the
electronic page, and you'll find accounts of thefts of large amounts of digital
currency from individuals and coin exchanges. These articles all seem to jump
to the conclusion that the industry is “unstable,” and advise against investing
in digital currency. We'd like to point out that at five years of age, the
alternative currency market it far too young to have people dismiss it with any
authority. There's often a thin line between “analysis” and “overreaction.”
What Are the Business Benefits of Cryptocurrency?
In Merchants
In
a recent article, Coin Pursuit
explored the strictly financial benefits of accepting digital currency as a
mode of payment. While those are convincing arguments, there's a lot more to it
than that. We'd like to take some time and look at the more
socially-relevant, people aspects
of using alternative currencies with your business.
Mutual Exposure. When you
sign on as a vendor with a particular type of cryptocurrency, both parties
benefit from the arrangement. Issuers of the currency are eager and proud to
publicly list the businesses that accept their product as a financial tool.
Likewise, when you advertise in-store or on your company's web page that you
accept a certain digital currency, it offers them more exposure. It's a win-win
scenario for everyone involved, and can help boost the public status,
reputation and legitimacy of both the digital currency and the vendor.
International Use. Using
credit cards or bank accounts for international transactions can be
problematic; since they're linked to the legal tender of a specific government,
exchange rates, interest rates, and country-to-country transaction fees can bog
down the process—and make it a lot more expensive, too. Cryptocurrencies aren't
bound to the rules or status of any one government's currency, so international
transactions tend to go a lot more quickly and smoothly when they're used.
The Wall Street Journalrecently quoted US Assistant Attorney
General Mythili Raman on the subject: “The Department of Justice recognizes
that many virtual currency systems offer legitimate financial services and have
the potential to promote more efficient global commerce.”
Less “Showrooming.” As Techopedia puts it, show
rooming occurs “when a shopper visits a store to check out a product but then
purchases the product online from home.” Consumers get the best of both worlds;
there's the in-store ability to physically check out the product, and the
online advantage of buying it for less. There's nothing more frustrating to a
business owner than to have a customer browse for an hour or so, and then make
their purchase on their smartphone from a competitor—often while they're still
in the store! With the use of QR code scanning, and special discounts for
customers who use digital currency—merchants can use these tools as a way of
cutting down on show rooming. The consumer gets a good deal, and the purchase
stays in the store. Again, win-win.
Customer Anonymity. Your
credit, debit and ATM cards are all linked to your name, home address, and
other unique personal information. As more media attention is being paid to the
many ways personal info is being used without our knowledge or permission,
consumers are starting to get annoyed by just how much is known about them by
complete strangers. Merchants can track your purchases and know exactly what
you eat, what movies you watch, what you wear, and so forth. For those who are
saying, “Enough!”, digital currency offers an alternative. All cryptocurrency
transactions are secure, but they don't carry any personal information at all.
This is a big selling point
to folks who value their privacy.
No Surprise Fees or Waiting Periods. Banks,
credit card companies, and online payment services can delay certain
transactions or apply surcharges and fees—often without their customers
knowing, unless they squint to read the fine print. This often winds up being
bothersome and costly to both consumers and businesses. Cryptocurrencies carry
smaller—and more transparent—transaction fees, and purchases and transfers can
be approved in minutes.
Improving Reputation. Digital
currencies had a rocky road to travel in the beginning, as drug dealers and
money launderers took advantage of the inherent anonymity to make illegal
transactions. The fact is, any
financial tool can be abused, and cryptocurrencies are now gaining better
reputations and a sense of legitimacy with both consumers and vendors. Bloomberg Magazine quotes
Jerry Brito, senior research fellow at George Mason University, on this topic: “...like
any new technology there are going to be some challenges. But they (US
Congress) see there is a balance to be struck here and they are generally
positive on the technology.”
These articles were found on: CoinPursuit.com