Thread by @RLefolk

AmbaCoin a cryptocurrency thread #AmbaCommunity #SouthernCameroons Cryptocurrency Basics

Where did cryptocurrency originate?
Why should you learn about cryptocurrency?
And what do you need to know about cryptocurrency?

Above all why should you invest in the Ambacoin right now more than ever, especially if you’re a #SouthernCameroonian #Abazonian

Satoshi Nakamoto, the unknown inventor of Bitcoin, the first and still most important cryptocurrency, never intended to invent a currency. In his announcement of Bitcoin in late 2008, Satoshi said he developed “A Peer-to-Peer Electronic Cash System.“

His goal was to invent something; many people failed to create before digital cash. The single most important part of Satoshi‘s invention was that he found a way to build a decentralized digital cash system. All previous attempts to create digital money, never took-off.

After seeing all the centralized attempts fail, Satoshi tried to build a digital cash system without a central entity. Like a Peer-to-Peer network as in file sharing. It was the missing piece Satoshi found to realize digital cash.

To realize digital cash you need a payment network with accounts, balances, and transaction. The basic principles is built around being able to prevent the so-called double spending problem: to prevent that one entity spends the same amount twice.

This is done by a central server which keeps record about the balances. In a decentralized network , you don‘t have this server. So you need every single entity of the network to do this job.

Every peer in the network needs to have a list with all transactions to check if future transactions are valid or prevent an attempt to double spend. how can these entities keep a consensus about these records?

Satoshi’s major innovation was to achieve consensus without a central authority. Cryptocurrencies are a part of this solution – the part that made the solution ground breaking, fascinating and helped make it a global phenomenon.

In a nutshell, cryptocurrency can be seen as a permissionless, irreversible and pseudonymous means of payment is an attack on the control of banks and governments over the monetary transactions of their citizens.

You can‘t hinder someone to use Bitcoin, you can‘t prohibit someone to accept a payment, you can‘t undo a transaction.

As money with a limited, supply that is not changeable by gov’t, bank or any other central institution, cryptocurrencies challenges the monetary policy.

By eliminating the control central banks take on inflation or deflation by manipulating the monetary supply. Though fairly new and unstable relative to the gold standard, cryptocurrency is definitely gaining traction and will most certainly be normalized in the next few years.

It’s expected that within two years, we’ll be in a place where people can shove their money under the virtual mattress through cryptocurrency, and they’ll know that wherever they go, that money will be there.

Why should you learn about cryptocurrency #Ambacoin ?
Cryptocurrencies are digital gold. Sound money that is secure from political influence. Money that promises to preserve and increase its value over time.

It’s also a fast and comfortable means of payment with a worldwide scope, and all private and anonymous enough to serve as a means of payment for black markets and any other outlawed economic activity.

Given the humanitarian situation in #SouthernCameroon #Ambazonia every donation counts. which where the #Ambacoin vomes in handy, to get started head right now to google play store and download the app at: play.google.com/store/apps/det…

Alternatively you can dm me to invest in Ambacoin through the secure platform of Amba treasury and ambacoin website ambazoniatreasury.org/wp-login.php?a…