This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COWhat Are Cryptocurrencies?I recently started a beginner blog series with the intention of covering everything crypto-related that I could think of. Even for those of us who have been in the crypto space for a long time, it doesn’t hurt to step back and refresh ourselves on the basics and fundamentals of the space.We trade, interact with , and invest in cryptocurrencies without stopping to think about what they really are. I am releasing a blog next week on my take on what cryptocurrencies are and wanted to share an early sneak peek on what will be included.At the time of writing, almost 10,000 known cryptocurrencies exist, and their pace of creation does not appear to be slowing. But what are cryptocurrencies? What is this evolutionary innovation that brick-and-mortar stores are beginning to accept, retail investors are making millions off of, banks are announcing custody support for, and governments are beginning to legislate on? This will briefly cover their history, technical components, and their value proposition. Now, it is our belief that anything can be a currency, so why are these digital assets in the spotlight?Looking back at history, cryptographers have been experimenting with electronic cash since 1983. Historians have debated if these “e-cash” experiments qualify as cryptocurrencies. For our purposes, we will consider Bitcoin as the first true cryptocurrency, invented in 2009. Satoshi Nakamoto’s white paper and Bitcoin’s subsequent evolution have become the standard for the true definition of a cryptocurrency.First and foremost, a cryptocurrency is entirely digital - there are no physical copies or hard versions. That said, cryptocurrencies can be backed up physically with codes, but these codes are simply representations of the token on the blockchain. Due to its virtual nature, a cryptocurrency is secured cryptographically, a fancy word meaning the transactions are secured privately. Most cryptocurrencies are decentralized, generally running on a blockchain, which is essentially a distributed digital ledger. This network, or chain of blocks stores all of the data of the corresponding system. To summarize, a cryptocurrency is a decentralized digital asset that securely runs on a blockchain.The technicalities above are important, but it is my belief that they will eventually fall into the same category as SMTP to email or HTML to the internet - a normalized, proven technology. As cryptocurrencies become more common, newcomers will disregard their inner workings, and instead blindly enjoy the benefits. Right now, cryptocurrencies are in an innovative boom phase, incentivizing anyone with a coding background to mint a new cryptocurrency in hopes of capturing capital inflows. Cash grabs are happening left and right through forks, airdrops, exchange listings, and IDO’s adding to the frenzy. This is a good reason to discuss where their value comes from in the first place.At a basic level, the value of any asset, whether it be a cryptocurrency or not, is simply what someone is willing to pay for it. It is important to understand the reasons that someone would be willing to place a bid or ask on these digital assets. Unfortunately, like the Dotcom boom, most cryptocurrencies will not survive in the future. Over a billion websites exist today, but the vast majority of internet-goers use about 50 websites. Cryptocurrencies will undergo the same pattern; people will only need to use the same few that suit their needs, which will dictate which cryptocurrencies hold long-term value.It won't be long until we use cryptocurrencies every day, but their ascent from just an idea on a single computer screen to a worldwide value system will be a journey of twists, turns, ups, and downs.Live stream today at 2:30 PM EST, a half hour later than usual. Here is the link: https://www.youtube.com/watch?v=xPr_mgcSlAwIn This Issue:What Are Cryptocurrencies?Bitcoin Thoughts And AnalysisAltcoin ChartsLegacy Markets10 Powerful Lessons From Warren BuffettWill Bitcoin Always Remain Fungible? DeFi Is Growing, But Still ExpensiveSquare Boasts Profit From Bitcoin HoldingMy Recommended Platforms And Tools
The Wolf Den #237 - Start From The Beginning
The Wolf Den #237 - Start From The Beginning
The Wolf Den #237 - Start From The Beginning
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COWhat Are Cryptocurrencies?I recently started a beginner blog series with the intention of covering everything crypto-related that I could think of. Even for those of us who have been in the crypto space for a long time, it doesn’t hurt to step back and refresh ourselves on the basics and fundamentals of the space.We trade, interact with , and invest in cryptocurrencies without stopping to think about what they really are. I am releasing a blog next week on my take on what cryptocurrencies are and wanted to share an early sneak peek on what will be included.At the time of writing, almost 10,000 known cryptocurrencies exist, and their pace of creation does not appear to be slowing. But what are cryptocurrencies? What is this evolutionary innovation that brick-and-mortar stores are beginning to accept, retail investors are making millions off of, banks are announcing custody support for, and governments are beginning to legislate on? This will briefly cover their history, technical components, and their value proposition. Now, it is our belief that anything can be a currency, so why are these digital assets in the spotlight?Looking back at history, cryptographers have been experimenting with electronic cash since 1983. Historians have debated if these “e-cash” experiments qualify as cryptocurrencies. For our purposes, we will consider Bitcoin as the first true cryptocurrency, invented in 2009. Satoshi Nakamoto’s white paper and Bitcoin’s subsequent evolution have become the standard for the true definition of a cryptocurrency.First and foremost, a cryptocurrency is entirely digital - there are no physical copies or hard versions. That said, cryptocurrencies can be backed up physically with codes, but these codes are simply representations of the token on the blockchain. Due to its virtual nature, a cryptocurrency is secured cryptographically, a fancy word meaning the transactions are secured privately. Most cryptocurrencies are decentralized, generally running on a blockchain, which is essentially a distributed digital ledger. This network, or chain of blocks stores all of the data of the corresponding system. To summarize, a cryptocurrency is a decentralized digital asset that securely runs on a blockchain.The technicalities above are important, but it is my belief that they will eventually fall into the same category as SMTP to email or HTML to the internet - a normalized, proven technology. As cryptocurrencies become more common, newcomers will disregard their inner workings, and instead blindly enjoy the benefits. Right now, cryptocurrencies are in an innovative boom phase, incentivizing anyone with a coding background to mint a new cryptocurrency in hopes of capturing capital inflows. Cash grabs are happening left and right through forks, airdrops, exchange listings, and IDO’s adding to the frenzy. This is a good reason to discuss where their value comes from in the first place.At a basic level, the value of any asset, whether it be a cryptocurrency or not, is simply what someone is willing to pay for it. It is important to understand the reasons that someone would be willing to place a bid or ask on these digital assets. Unfortunately, like the Dotcom boom, most cryptocurrencies will not survive in the future. Over a billion websites exist today, but the vast majority of internet-goers use about 50 websites. Cryptocurrencies will undergo the same pattern; people will only need to use the same few that suit their needs, which will dictate which cryptocurrencies hold long-term value.It won't be long until we use cryptocurrencies every day, but their ascent from just an idea on a single computer screen to a worldwide value system will be a journey of twists, turns, ups, and downs.Live stream today at 2:30 PM EST, a half hour later than usual. Here is the link: https://www.youtube.com/watch?v=xPr_mgcSlAwIn This Issue:What Are Cryptocurrencies?Bitcoin Thoughts And AnalysisAltcoin ChartsLegacy Markets10 Powerful Lessons From Warren BuffettWill Bitcoin Always Remain Fungible? DeFi Is Growing, But Still ExpensiveSquare Boasts Profit From Bitcoin HoldingMy Recommended Platforms And Tools