Crypto (for short) is internet money. To understand crypto, you need to understand money.

So what makes money money?

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Money must have all 3 of the below:

1. Enough people must have it.
2. Merchants must accept it as a form of payment.
3. Society must trust that it’s valuable and that it will remain valuable in the future.
Our current money was designed thousands of years before the internet (bartering to fiat).

Money designed thousand of years ago CAN NOT and DOES NOT cater for the internet. It is that simple!!!

We needed a new currency that can keep up with the internet.
The world’s current money systems have some problems:

1 Credit cards & wire transfers are outdated
2 Middlemen like banks take a cut in the process...expensive & slow
3 Financial inequality is growing
4 3 billion unbanked or underbanked people can’t access financial services.
Along came Satoshi Nakamoto with the Bitcoin white paper to solve this problem.

Crypto is simply digital money.

Money that is stored in WALLETS with KEYS and that operates on a BLOCKCHAIN

Imma break that down

Like the old skool version…Your wallet holds your money. But generally, they’re different from traditional wallets and come in different formats and levels of security.

You can’t get involved in the cryptocurrency market without a crypto wallet.
Some Wallets I use, but there are MANY more:

Trust Wallet
Atomic Wallet
Wallet Keys

This wallet is not in your pocket, but on the internet, we need to protect it. Your wallet key is your life. You cannot share it with anybody. Most wallets will give you 10 random words. You need to type those words in the specific order. They are hard to crack.

This is where many people lose interest coz it is hard to wrap your head around. I tell people think of the blockchain as the train track and the coin is the train. The train cannot move without the tracks. That is the blockchain. It helps coins move around the globe.

The blockchain is what makes crypto super unique. The blockchain is not in one place. It is shares around the world on millions of computers and those computers are often called nodes or miners. They validate all transactions independently for a fee.

The blockchain cannot be corrupted. You will need thousands of people to collude, unlike in a bank where you need just 2 and your money is gone. her you will need thousand of people from different corners of the planet to collude. It is impossible, trust me
Why so many? How do I choose?

Bitcoin is the OG of crypto. Satoshi made just 21 million Bitcoin & vanished. There can never be more than 21 million original Bitcoins EVER! There are 7 billion people on the planet & 21 million BTC. You do the math if everyone wants one in 30yrs?

BTC runs on the Bitcoin Blockchain. No other coins can run on the BTC blockchain. Satoshi vanished and now this is how it is forever.

Some BTC are lost, some people dies with keys, lost their hard drives or keys. We can never get those back😭

Every coin that is NOT Bitcoin is an altcoin. That is ETH, LINK, SUSHI, UNI, ADA etc etc etc…all of them are ALTS.

All ALTS run on the Ethereum blockchain. Ethereum is the name of the blockchain. Ether is the name of the coin

If u want BTC to run on the Ethereum blockchain, u need to “wrap” it in special coding to make compatible. Otherwise, you are screwed. We call it Wrapped BTC
Other ALTS

Every coin has a use case. People talk about:

DeFi – Decentralized Finance
DAPPS – Decentralized Apps
Smart contracts etc.

These are the different use cases for the coin. What the coin makes possible for us to do on the internet.

Watch out 4 Crypto Myths soon

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I use this website app.tikr.com

You can type in any company and it will display the financials.

Let's use Aveng of course
Red is bad. Black is good.

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It contains all the income and all the expenses of the company
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You want this number to increase year on year, right???

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ETF's are passive because they don't go buy and sell shares daily in there. If a company ie drops out of the JSE top 40, that's the only time Satrix will go and change the basket.
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