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Showing posts with the label cryptocurrency

Cryptocurrency - Altcoins

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Altcoins in relation to cryptocurrency are any other coins that aren't bitcoin. The biggest one of these is Ether, the coin of the Ethereum network. Sometimes said to be the Silver to Bitcoin's Gold, that is actually a poor analogy. Ether is more of a currency that Bitcoin is, but it's capabilities are almost endless. The technology that the Ethereum network utilizes is far more advanced than bitcoin. Things you can do on the Ethereum network are smart contracts, creation of new tokens and NFTs.

Passive income

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One of the ways to become financially independent is to generate income whilst you sleep, passive income. The idea is that you invest either some time or money into a certain idea or thing, and that will generate income for you without any further time or effort. This is how generally the super rich, got super rich. People only have a finite time in which to earn (governed by how much you stay awake) so if you can earn whilst you sleep or do something else, that is the dream of many people I'm sure.

Cryptocurrency - Bitcoin

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Cryptocurrency is the new financial trend at the moment. One month ago, it was at new record highs, with Bitcoin and Ethereum each having peak market caps of $1.1 trillion and $470 billion respectively. However in the last 7 days, a crash occurred which wiped 50% off their respective market caps. This volatility is part and parcel of cryptocurrency and I don't see this ending any time soon. But I do see some cryptocurrencies breaking out and sticking around for the long term, it will all depend on their fundamentals, institutional adoption, governmental regulation and ease of use. One of these is Bitcoin (BTC), and below I'll go over why I think it could possibly stick around for the future, and possible reasons why it wont.  The blockchain If you transfer some cash such as £100 from one bank account to another, a bank or financial institution is doing all the back-end work. It has to check a private ledger of your account; to make sure you have £100 then possibly contact the