I find it hard to invest/buy cryptocurrency. I have found it hard to judge the value of it as a currency. I know the practical application of its uses. Like paying services to people that live in another country. It avoids paying fees for currency conversion between counties and provide payment to individuals were a bank isn't an option. Now these were probably great uses a few years ago. Now with the crypto crazy idk.
I am interested in the blockchain technology behind it. To get to know it I have to read and learn. Best way it to do. So I've done a little research on wallets. Basically what I've found you can have a wallet on a broker, one on your PC, or a cold storage like HDD or thumb drive. There are so many it's crazy. I picked Exodus to try it out. From there I looked at some crypt exchanges. Basically a place to buy and sell. I looked at coinbase/coinbase pro and Kraken. There are some of the more popular ones and I would say the more reputable ones. I haven't done much with them except look around. I got a few free fractions of coins for signing up.
From a technology point of view. It is cool to have this mass amount of computer solving problems to verify a transaction is real. This is happening all over the world. The dark side of this of course it the power to run these equations and the hardware/video cards to do this quickly.
What's the point?
Is this something that is going to stick around or is it the latest fad.
What it currently is:
- A way to get rich quickly
- decentralize currency that is not regulated
- Give power to the people
- Will change as gov'ts get involved
- Become more popular with people and businesses
- Currency that you can count on
- Back by anyone
