Hey, guys, welcome back.
In this lecture, we're going to discuss about crypto currencies, what are they and most importantly,
why are they so famous?
So let's get started.
So what are cryptocurrency guarantees?
A cryptocurrency can we call as a digital or virtual money?
It's not like watching money we have in bank account, which remains the same.
Excluding the interest we get us, there is not much difference.
But this was Germany, which we are talking about can be traded, sold as well as can be bought for
profits.
The cryptocurrency is secured by cryptography, which makes them nearly impossible to counterfeit.
Or the bills.
Actually, the cryptocurrency are stored in a wallet, not a real one, but a virtual one.
Now you can also store them in a virtual wallet, as we've discussed, as well as account.
It can also be stored in a physical vault like Upendra or Sillitoe, which makes them super portable.
Plus, as they are encrypted through cryptography, it is nearly impossible to just copied and pasted
on some other location.
It's doubling it.
So do the cryptography.
It's nearly impossible to counterfeit them or double them.
The transaction of bitcoins are implemented using the block chain.
Technology were discussed about the block chain technology previously in the schools.
The Deep Dark Web works on the same block chain technology and block chain technology.
The signal from host device is bounced through several servers.
It is encrypted, it eatable it till it reaches the requesting device to do this block chain technology.
The crypto currencies are impossible to track on the positive side of the block chain technology.
We can say that all your transactions are anonymous, but on the negative side of block technology,
the cryptocurrency one transfer once transfer cannot be returned or claimed back.
The main positive points about cryptocurrency is that they are not issued by any central authority,
rendering them theoretically immune to government interference or manipulation so that it is, as are
the state, that crypto currencies are not issued by any central authority or any government to do it.
It's impossible for the government to keep track of these currencies also, as just currencies cannot
be tracked, it's largely used to convert black men into white money.
Now we will discuss about the main points about cryptocurrency.
A cryptocurrency is a new form of digital asset based on a network that is distributed across a large
number of computers.
This decentralized structure allows them to exist outside the control of governments and central authority.
As we discussed earlier this crypto currencies are not controlled by any government or any third party
organization, so they are impossible to track.
Also, it's impossible for the government to keep track of it.
That's why they are used in a marketplace of the deep dark web.
Totally anonymous can only be tracked.
The word cryptocurrency is derived from the encryption techniques which are used to secure the network.
Actually, the encryption method, which is used to encrypt this virtual currencies, is known as cryptography
tutorage.
Its name is cryptocurrency.
In fact, the first ever cryptocurrency was made in July 2010, which was Bitcoin, but is also the
most expensive cryptocurrency.
Did it say that it was developed by Satoshi Nakamoto was a Japanese person?
Cryptocurrency is faced criticism for a number of reasons, including their use for illegal activities,
exchange rate volatility and vulnerabilities for the infrastructure underlying them.
However, they have also been praised for their portability.
It was ability, inflation, resistance and transparency.
Yes, the critism factor can be seen clearly if we consider the deep dark web, but if we compare them
with the positive point, the cryptocurrency seem to be important.
Talking about its portability factor, we already discussed earlier that it can be stored in virtual
wallets as well as in physical wallets like boundry or similar to those they are super portable.
Cryptocurrency is divisibility fact.
That is one of its main factors.
People that have never used cryptocurrency as before might think that they are required to purchase
of all bitcoin to transact with the new form of cryptocurrency.
However, one bitcoin is divisible into one hundred million units and in smaller units.
Smaller unit is called a Satoshi, so it's not compulsory to buy a full single cryptocurrency as it
may be costly, but you can buy them.
In part, that's divisibility.
The transparency factor helps an easy we can see buying and selling of cryptocurrency is like reoccurrences.
Why?
Actually we are talking this much about crypto currencies and why are they very famous for the sake
of.
We are only going to talk about bitcoins, so first let's talk about its history.
It was developed by Satoshi Nakamoto.
It has high volatility.
That is, its price can go up or down very rapidly.
It was started in July to 2010.
Its starting price was eight cents.
OK, that was 2010.
But talking about 2020, its price is sixteen thousand five hundred and sixty three dollars.
That mountain height, 20 million percent increase, and that's not a small value, let's say, its
graphical form.
So you see people who have purchased bitcoins for eight cents in 2010 have converted these eight cents
into sixteen thousand dollars in just 10 years.
Did this high volatility factor, the bitcoins are being more famous and they are investing a lot of
money in them fact that are only maximum 21 million bitcoins in the world and today that are around
eighteen point five million bitcoins in circulation, you guys.
That's it for this lecture we discussed about the origin and the basic point about cryptocurrency.
In the next lecture, we'll be discussing about the advantages and disadvantages of crypto currencies.
See you there.
Thank you very much.