The Book about Cryptocurrency №1. Second edition expanded. Viacheslav Nosko
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Название: The Book about Cryptocurrency №1. Second edition expanded
Автор: Viacheslav Nosko
Издательство: Издательские решения
isbn: 9785006088436
isbn:
By the way, in the first year of Bitcoin’s creation, a legendary transaction was realized – the first purchase of real goods for cryptocurrency. For 10,000 bitcoins were bought two pizzas totaling $41.
So «wastefully» spent his savings American programmer Laszlo Hanyecz (Laszlo Hanyecz). The thread on the forum is still available at the link – https://bitcointalk.org/index.php?topic=137.0.
Now convert that to the current exchange rate and grab your head. Today (July 2023 – ed.) 10,000 bitcoins are equivalent to $300 million US dollars, and the total capitalization of all cryptocurrencies is $1.2 trillion.
The most popular types of cryptocurrencies
According to https://coinmarketcap.com/, in July 2023, there are more than 10,000 cryptocurrencies registered in the world.
Of course, their value varies. And the fate of most small coins can turn out any way you want. Some coins will take off, some will disappear from the lists of exchanges. But nevertheless, the fact remains that blockchain technology allows you to create an unlimited number of types of crypto-money, the capitalization of which, depending on the exchange rate of major currencies (Bitcoin, Ethereum, etc.), the total approaching $ 300 billion (at the time of writing this material – this price is always fluctuating).
At the same time, the cryptocurrency market is characterized by high volatility. And this means strong fluctuations in the rate. In a matter of days, or even hours, the same bitcoin can collapse by several hundred dollars, and may even grow.
Hence, the potential of each new moment is quite high. It can grow by 50, 100 and even 1000 times. This is what makes it possible to move crypto markets and make money from them.
Each type of cryptocurrency has its own pros and cons, its own value and its own potential for growth.
But collectively:
● they are all universal,
● they can be exchanged for either other cryptocurrencies or fiat money,
● they can be saved,
● they can be used to pay for goods and services,
● their exchange rate is subject to supply and demand.
What are the most popular currencies today? Whose capitalization (the total value of all issued cryptocurrency coins) exceeds a billion dollars?
So far, the top 10 looks like this (data as of July 2023):
• Bitcoin.
• Ethereum.
• Tether.
• BNB.
• USD Coin.
• XRP.
• Cardano.
• Dogecoin.
• Solana.
• TRON.
Bitcoin (BTC) is the first and most widespread digital currency. All subsequent ones appeared on its basis.
Ethereum – the authorship of the currency is attributed to Vitalik Buterin. It is one of the most popular cryptocurrencies.
Tether is a cryptocurrency token issued by Tether Limited, which claims that its value is 80 percent provided by the stock of U.S. dollars in bank accounts or its equivalent. The main idea of the developers of this token is to provide cryptocurrency market participants with an opportunity to use a stable digital asset steyblocoin, the rate of which is tied to the U.S. dollar exchange rate and does not experience such strong fluctuations as the rates of other cryptocurrencies. Tether is issued on the Omni Layer platform, which is an add-on to the bitcoin blockchain.
Cardano is a decentralized public cryptocurrency project, a third-generation platform developed in the Haskell programming language. The project solves the problem of fast and cheap creation of decentralized applications and smart contracts in a secure and scalable way. It entered the market in 2015.
Is it easy to work on the cryptocurrency market?
The purpose of this book is to tell beginners about the crypto market and show that anyone can earn money in crypto. You don’t need to have any special education for this, you don’t need to buy a super-powerful computer for this.
You don’t need a lot of money to start working with cryptocurrency. Your first investment can start from 100 dollars.
Judging by these criteria, yes, it is easy to work on the market.
If you come just to play and then, after losing money, come out disappointed.
However, there can be another way. It is easy to work on the market, but you need to be patient and invest your time in learning and studying the rules of the game.
But first, decide: for what purposes do you need cryptocurrency, what do you plan to do on the market? In general, it is useful to define your goals every time you plan something new in your life.
What can be the goals when working with crypto?
The goal is to save your own funds. To save them from inflation and denomination by the state. To do this, you can make a portfolio of the top 5 leading cryptocurrencies and not worry when bitcoin suddenly goes down.
The goal is to make a quick buck on cryptocurrency. This goal is both realistic and quite risky. Why? The market is alive, it has high volatility, the situation on it can change in a matter of hours, for this you need to constantly keep your hand on the pulse and review the portfolio of coins every day. One should also know the mathematical laws, according to which one should invest in a particular currency. The chances that a particular coin will take off a few dozen times are small. It’s like winning the lottery. Will you be lucky or unlucky? We answer: the lucky one is the one who enters the market professionally and makes a portfolio professionally. In this case «quickly» can be from half a year to a year. Not a month, for example, as some inexperienced hamsters dream about it.
The goal is to become a trader and manage other people’s portfolios. This is an excellent goal, it allows you not to spend your own money, but to take other people’s assets under management at once. However, before going into consulting and portfolio management, you need experience and successful cases.
Goals may change, and that’s okay. You may want to become a trader, realize that it is not for you, but leave some assets in bitcoins and ethers just in case. Or you will enter the market cautiously to have a look around, but in time you will get involved and learn a new profession.
They say that to become an ace, a pilot needs to fly an airplane for 10,000 hours. It may take less time to become an ace at cryptocurrencies, but at a minimum, it will take СКАЧАТЬ