What is crypto currency

[SamReomo]

OP, you have learnt some good things about crypto currencies from the posts of the forum members who posted on your this thread. In simple terms Bitcoin is the top notch cryptocurrency that made a way for other crypto currencies. It's the first cryptocurrency and it's fully decentralized.

The person or group of people often known as Satoshi Nakamoto who created Bitcoin have left it for community and it works pretty well without his presence. If you want to learn more about cryptocurrencies and Bitcoin then I suggest you to read posts at this forum and also at Bitcointalk.

[Z-tight]

The cryptographic methods that enable people to experience cryptocurrency safely without a central authority are what give them their name.

It is not every cryptocurrency that functions without a central authority in control, i.e. stablecoins like usdt are cryptocurrencies, but they have central authorities in control, this authority issues it and they also have to power to seize it, even when you store it in your own wallet. BTC does not have any central authority or third party controlling it, but there are coins that do have.

[Foden]

A cryptocurrency is a designated string of data that represents a unit of currency. Blockchains are peer-to-peer networks that monitor and manage cryptocurrency transactions such as buying, selling, and transferring, as well as acting as secure transaction ledgers. Cryptocurrencies can function as a money and an accounting system by leveraging encryption software.

[bitterguy28]

I just imagine if he had actually created similar thread on the other forum with such a fresh account, It wouldn't have been a funny experience to tell.

Lots of newbies with potential never got to show what they have because of the way they were received when they newly got to the forum some even got banned from their first post.

to be fair some of the beginners i see do post some useless stuff and the other forum is far stricter about the kind of content one posts i also notice that it is a lot harder in the bitcoin forum to gain merits compared to this forum which is why some people might have biases with those higher merit points so the beginners with not much merits might not be as noticed nor valued as much

anyway i do enjoy high quality posts but this strict rule may prevent a lot of beginners from posting and engaging with other members i am sure op can learn more about crypto and this forum later on

[Faisal2202]

CRYPTOCURRENCY is a virtual or digital currency that works on block chain technology
It can be used as a medium of of exchange online to make payment for certain goods and services it was introduced in the year 2013 by Satoshi Nakamoto

It was not introduced in 2013, as other members have also corrected the mistake, but you still did not edit the post, so I suggest you to correct the date in your post as well.

Your explanation is a good one, I use the word digital currency to explain crypto to a full newbie who has no idea about it. I never explained blockchain technology like what it is just give them a small idea of what it can be in the real world, like explaining it to them using real-world examples makes things for them easier.

[vegasus]

......it was introduced in the year 2013 by Satoshi Nakamoto

It was not introduced in 2013, as other members have also corrected the mistake, but you still did not edit the post, so I suggest you to correct the date in your post as well.

I see OP is active in the forum and he also comments in some threads, but not active enough in this thread. Hmm.

Yes, maybe this source can be used as one of the sources to write it, at least paraphrase it so it can be understood better and become another story.

https://money.usnews.com/investing/articles/the-history-of-bitcoin

But indeed, the enthusiasm of beginners in learning Bitcoin and cryptocurrency in general must be done in several stages, and getting to know Bitcoin in general is part of the early stages. Yes, at least if there is a discussion like this, it can be a trigger for anyone to learn more about crypto.

[taufik123]

-snip-
But indeed, the enthusiasm of beginners in learning Bitcoin and cryptocurrency in general must be done in several stages, and getting to know Bitcoin in general is part of the early stages. Yes, at least if there is a discussion like this, it can be a trigger for anyone to learn more about crypto.

And those beginners should know how Bitcoin originated and how cryptocurrencies work.
Because many beginners only know, bitcoin is a coin that has no function other than just for speculation.

With some good education and understanding, beginners will understand.
In this forum, there is also a lot of information about crypto and various experiences about experiences in crypto.

And for other knowledge that can be seen from various sources, it is unlimited and can even be easily obtained today.

[Faisal2202]

I see OP is active in the forum and he also comments in some threads, but not active enough in this thread. Hmm.

Yes, maybe this source can be used as one of the sources to write it, at least paraphrase it so it can be understood better and become another story.

https://money.usnews.com/investing/articles/the-history-of-bitcoin

But indeed, the enthusiasm of beginners in learning Bitcoin and cryptocurrency in general must be done in several stages, and getting to know Bitcoin in general is part of the early stages. Yes, at least if there is a discussion like this, it can be a trigger for anyone to learn more about crypto.

You are right topics like this can be used to share my knowledge about BTC and your knowledge as well, and thus readers can learn things about crypto or BTC that they did not know before. For example, recently I came to know that USDT's owner, Tether, has full control over USDT, meaning even if you have kept USDT in some noncustodial wallet, they can seize them and you can't move the funds anywhere. Till now they have seized 1.8 billion dollars (this money was being used for money laundering or was scammed by others).

Now I also understand that why hackers don't want to steal money in USDT, like there are past hack stories in which they prefer to steal in some other currency but rarely in USDT. This proves that we learn all the time, even if we think we have passed the stages of learning, but no we learn till we die.

[Themepen]

You are right topics like this can be used to share my knowledge about BTC and your knowledge as well, and thus readers can learn things about crypto or BTC that they did not know before. For example, recently I came to know that USDT's owner, Tether, has full control over USDT, meaning even if you have kept USDT in some noncustodial wallet, they can seize them and you can't move the funds anywhere. Till now they have seized 1.8 billion dollars (this money was being used for money laundering or was scammed by others).

Now I also understand that why hackers don't want to steal money in USDT, like there are past hack stories in which they prefer to steal in some other currency but rarely in USDT. This proves that we learn all the time, even if we think we have passed the stages of learning, but no we learn till we die.

Yes sharing knowledge about Bitcoin and cryptocurrencies is valuable. It helps readers learn about new aspects of digital currencies. Your information about Tether control over USDT is very revealing showing potential dangers of centralized power. Fact is that Tether has taken control of $1.8 billion in illegal or stolen funds highlights importance of understanding each cryptocurrency unique features.

Hackers preferring other currencies over USDT also shows that each digital asset has its own characteristics. This conversation demonstrates that learning is lifelong process proving that there is always more to learn even for those with experience.

[jeraldskie11]

-snip-
But indeed, the enthusiasm of beginners in learning Bitcoin and cryptocurrency in general must be done in several stages, and getting to know Bitcoin in general is part of the early stages. Yes, at least if there is a discussion like this, it can be a trigger for anyone to learn more about crypto.

And those beginners should know how Bitcoin originated and how cryptocurrencies work.
Because many beginners only know, bitcoin is a coin that has no function other than just for speculation.

With some good education and understanding, beginners will understand.
In this forum, there is also a lot of information about crypto and various experiences about experiences in crypto.

And for other knowledge that can be seen from various sources, it is unlimited and can even be easily obtained today.

In my opinion, it's quite good to know that but I think it's not necessary when you're here in crypto just to only make investment. For me, it is not a waste of time because Bitcoin also has a very good story. Knowing why the price has reached this yield is very surprising and may change your perspective on crypto. But if you don't have enough time for that, just focus on how to make your investments safe.

[Faisal2202]

Yes sharing knowledge about Bitcoin and cryptocurrencies is valuable. It helps readers learn about new aspects of digital currencies. Your information about Tether control over USDT is very revealing showing potential dangers of centralized power. Fact is that Tether has taken control of $1.8 billion in illegal or stolen funds highlights importance of understanding each cryptocurrency unique features.

Hackers preferring other currencies over USDT also shows that each digital asset has its own characteristics. This conversation demonstrates that learning is lifelong process proving that there is always more to learn even for those with experience.

Yes they seized that much money and there is nothing wrong in here IMO because they are helping government to catch spammers and recovering these funds back to the victims is also building entrust among them and this is a positive side although this information is so under rated as It was not discussed a lot by other members as well.

Yes we learn in our whole life, we won't call ourselves the experts because we are also in the learning phase we just learn more than other or less then others but learning is essential for the overall better overview of market and how things work. I hope to learn more new things like this.

[Agbe]

The cryptographic methods that enable people to experience cryptocurrency safely without a central authority are what give them their name.

It is not every cryptocurrency that functions without a central authority in control, i.e. stablecoins like usdt are cryptocurrencies, but they have central authorities in control, this authority issues it and they also have to power to seize it, even when you store it in your own wallet. BTC does not have any central authority or third party controlling it, but there are coins that do have.

At first I was thinking there was no need for the Op to create such thread because beginners can hit the internet to get more information on cryptocurrency. But seen this dimension of the discussion making the thread interesting. Many people don't know that there are some cryptocurrencies that do not have non Custodial wallets and such as "KCS = Kucoin, BGB, BNB " etc. And using or investing in those cryptocurrencies are at the owners' risk because they can fold at anytime since they have Centralised control system. And we have seen them in my country. OKX just left the country and you have an investment with them and you were not aware of their exit in the country then you coins are gone. Though they gave notice to all the users in the country but if you were not aware before deadline expired you coins are gone.

[Sukii]

......it was introduced in the year 2013 by Satoshi Nakamoto

It was not introduced in 2013, as other members have also corrected the mistake, but you still did not edit the post, so I suggest you to correct the date in your post as well.

I see OP is active in the forum and he also comments in some threads, but not active enough in this thread. Hmm.

Yes, maybe this source can be used as one of the sources to write it, at least paraphrase it so it can be understood better and become another story.

https://money.usnews.com/investing/articles/the-history-of-bitcoin

But indeed, the enthusiasm of beginners in learning Bitcoin and cryptocurrency in general must be done in several stages, and getting to know Bitcoin in general is part of the early stages. Yes, at least if there is a discussion like this, it can be a trigger for anyone to learn more about crypto.

I am actually active on this thread
I read every single comment as I'm also growing my understanding on Crypto and I really do appreciate every  comment
Let's just say I was a bit ashamed of myself after creating such a thread

[Lucius]

I am actually active on this thread
I read every single comment as I'm also growing my understanding on Crypto and I really do appreciate every  comment
Let's just say I was a bit ashamed of myself after creating such a thread

If you are active and read the posts, then you can edit your post and correct the mistake that several members warned you about - Satoshi did not "invent" Bitcoin in 2013 - it is correct to say that he published a white paper in 2008, and that in the beginning of 2009 Bitcoin actually came to life when Satoshi mined what we now call the Genesis block.

Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

[Sukii]

I am actually active on this thread
I read every single comment as I'm also growing my understanding on Crypto and I really do appreciate every  comment
Let's just say I was a bit ashamed of myself after creating such a thread

If you are active and read the posts, then you can edit your post and correct the mistake that several members warned you about - Satoshi did not "invent" Bitcoin in 2013 - it is correct to say that he published a white paper in 2008, and that in the beginning of 2009 Bitcoin actually came to life when Satoshi mined what we now call the Genesis block.

Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

Alright then I will do just that
Thanks once again for being accommodating
After joining Bitcoin talk I found out that I actually can't post something like this there the backlash will be crazy