October 26, 2021, 15:50:23

Author Topic: Crypto Currencies?  (Read 7206 times)

Offline Kryzon

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Re: Crypto Currencies?
« Reply #75 on: April 12, 2021, 01:35:02 »
This chart by Woonomic is interesting, the green dotted line matched with past tops, so in theory you'd keep looking at it to see when the market price (noisy grey line) touches it again: 

Offline RemiD

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Re: Crypto Currencies?
« Reply #76 on: August 18, 2021, 09:26:05 »
i just want to share some more understanding about cryptos :

about coins and tokens :
-a 'coin' has its own protocol, ledger, network
for example : btc, bch, xmr, eth, bnb, doge

-a 'token' is created and work using another protocol, ledger, network which supports that (erc20 tokens on the ether chain, bep20 tokens on the binancesmart chain, etc...)
for example :
'stablecoins', which should rather be called 'stabletokens' which are tokens which follow the value of a fiat currency like the USD or EUR, popular stables are : USDT, USDC, BUSD, TUSD, PAX, DAI...
a token with their own rules / functionalities but which use an existing blockchain UNI, CAKE, LINK, SHIB

in any case, your coins or tokens are always stored onn the decentralized ledger of the protocol (stored using the 'blocks-chain' technology and the internet, splitted in different parts worldwide)

about addresses, privatekeys, recoveryseeds, wallets, exchanges :

-an address is the equivalent of a bank account number (IBAN)

-a privatekey is the equivalent of a password / pincode which allows the owner to send units to another address, but only the address is necessary to receive units.

-a recoveryseed is a list of words (usually 12 or 24) which allows the owner to recover a privatekey
you can share your address publicly but you have to keep your privatekey or recoveryseed private.

-a wallet is a software / hardware to manage your address and privatekey to be able to receive and send units on the protocol / network / blockchain.

-an exchange is a company (with a website and an app) in which you can open an account to be able to convert fiat to crypto, crypto to fiat, crypto to crypto (and crypto to stable, stable to crypto)
some wallets also allow you to do these convertions using protocols / networks like the ether chain, the binance smart chain, etc...)

what makes a coin / token valuable (imo) :
-functionalities / use-cases
-decentralization of the development of the protocol, of the handling of transactions, of the storing of the ledger
-counterparty when a coin is created (for 'proof of work' coins the counterparty is energy and computing power), this is to prevent 'magic money creation' (like fiat)
there is a lot of speculation concerning the value of 'proof of stake' coins, some are clearyl 'shitcoins' (scams) but some have some value because there offer some functionalities / use-cases that older POW coins don't offer, like protocols that allows the creation / transfer of custom tokens like stables or 'programmable money'.
-max supply or slight increase of the supply (to not become like fiat)
-anonymity or pseudoanonymity
-open source of the protocol / wallets
-distribution of the coins not too centralized

be careful of hype and fud, good luck 8)
« Last Edit: August 18, 2021, 09:50:24 by RemiD »
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Offline Kryzon

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Re: Crypto Currencies?
« Reply #77 on: September 07, 2021, 09:28:38 »
The BTC (Bitcoin Core) asset is now one of the local currencies of El Salvador. Hooray!


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