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      "body": "<h2>What is Money? </h2>\nMoney makes the world go around. Basically, every person in the universe works for money. Despite its familiarity, few people actually understand it. Most of the people think they understand money but can you explain it in laymen terms. Money is Thousands of years old, it is as old as the language because money is the language. Money can be feathers, beef, shell, a piece of stick or anything that can be used to express value to each other. Currency is the general form of accepted money. Current Monetary System uses paper money as accepted currency. It is also known as Fiat Money\n\n<h2>How Money is Controlled</h2>\n<br><br>\n![money-printing-press.jpg](https://steemitimages.com/DQmRqZUyB9S5LtJVWkmQL6eUjHoTTPQLKJy1nyzyo82hd2c/money-printing-press.jpg)\n\n\n\n“It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”\n\n—Henry Ford inventor and founder of the Ford Motor Company\n\n\n\nMoney is added to the economy through two main sources. First is the Central Bank who can issue new notes which can increase the amount of money supply and second are the Commercial Banks that creates credit which is added to the money supply\n\nCentral Banks create money out of nothing. Whenever the government wants money for some operations they ask central bank for money. The central bank creates money out of thin air and buys government securities thus giving cash to the government. Commercial bank can also take loans from central bank\n\nCommercial Banks accept deposits from the public on minimum interest and lend to them to individuals and Businesses. When a person places money in a bank, the bank issues the depositor an IOU in the form of a receipt. In the meantime, the bank uses the money in a system called fractional reserve banking to create credit. Banks are allowed to lend a portion of funds deposited with them, generally, the reserve limit is 10% of the deposit\n\nSo if you deposit 100$ to a bank they will put 10$ in the reserve and lend out the other 90$. But your account balance still shows 100$. Now that 90$ will be deposited by someone else in other bank and they will put 9$ and lend out remaining 81$ and this goes on again and again and 100$ in the bank will be turned to approximately 1000$\n<br><br>\n![image.jpg](https://steemitimages.com/DQmRdywaEzACqJsHgbGbc3yjQyPZ4UVULGaTPXSeLoXn6vk/image.jpg)\n<br>\nThis is how commercial banks increase the money supply in the economy. Almost 90% of the money in our economy is generated through credit. People do not tend to get this point and overlook the utility of money as a currency and fail to note its decreasing and diminishing value due to inflation. Inflation is the hidden tax that we pay to government\n\n\"By this means (fractional reserve banking) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft\"\n<center><i><b>-John Maynard Keynes</b></i></center>\n\n<h2>Freedom of Choice: Cryptocurrencies</h2>\n<br>![The-Never-Ending-Argument-about-God-What-If-I-Had-To-Choose-a-Side-1920X1048-1170x500.jpg](https://steemitimages.com/DQmfV86xigcaB9VTwqQjnRdravAGp9JVpddodi9CbArF5Px/The-Never-Ending-Argument-about-God-What-If-I-Had-To-Choose-a-Side-1920X1048-1170x500.jpg)<br>\n\nMoney should be a product of the market not the monopoly of some corrupt politicians. We shouldn't really care about money at all, it is just a tool to communicate value but people who are taking care of it are not doing their job right. We are tied to a certain monetary system whose rules are not in our control but for the first time in history, we have a choice to get out the monetary system and take control of our money. We can choose a monetary system that is run by laws of mathematics, a system that is open, borderless and trustless\n\nCryptocurrencies are backed by the trust of people. A cryptocurrency has value because someone is willing to accept it. Think of Currency as an application of technology, it sounds pretty weird but it is actually really interesting. We can use different currencies for different properties of money. Taking an analogy of social media platforms Facebook and Twitter. You use Facebook to keep in touch with your school, college friends while Twitter is used to interact with your favorite celebrities and similarly Snapchat, Instagram, and WhatsApp. similarly, we can use different cryptocurrencies for different applications. want to do a private transactions X currency can be used for that, want to save money for retirement doesn't want it to be eaten up by the inflation  I can use Y currency which provides a very good store of value, want to do micropayments I can use Z currency.\n\nThe most important thing is that no can stop you from making a choice. An individual has the power to control his money\n\n\n\n<i>Happy Investing!</i>",
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      "body": "@@ -2964,1049 +2964,8 @@\n ny%0A%0A\n-%3Ch2%3ECryptocurrency as a Percentage of Your Investment Portfolio%3C/h2%3E%0AThis part will be wildly subjective. Crypto has the potential to realize many %E2%80%98rags to riches%E2%80%99 stories, but its volatility makes it unpredictable. As a precaution, the money you put in crypto should be money that you are fine with losing. I cannot emphasize the importance of this as we often underestimate how the volatility affects our emotional capacities. The upside is huge, but it comes with lots of risks and, if I may put it, emotional torment.%0A%0A%0A%0AA conservative portfolio I would suggest is as follows:%0A%0A%3C 30 years old (max) 30%25 Crypto, 50%25 Traditional Investments%0A%0A30 %E2%80%93 40 years old (max) 20%25 Crypto, 60%25 Traditional Investments%0A%0A40 years old (max) 10%25 Crypto, 70%25 Traditional Investments%0A%0A%0A%0A%0A%0AThis is not meant to be age discriminatory but considers the fact that one takes up more financial responsibilities (mortgage, family) as he grows older.%0A%0AWithin the designated crypto share of your portfolio, you may diversify your coins based on your risk appetite%0A%0A%0A\n %0AHap\n",
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      "body": "Hello colleague @cryptopandit, I hope you feel very well :D. Very good post, I voted for it. I would like to invite you to follow me on my page @emmanuel250998 where I will be uploading every day the latest news about the world of cryptocurrencies. I also invite you to vote for my last post: \n\nhttps://steemit.com/bitcoin/@emmanuel250998/extension-that-avoids-web-mining-on-your-device-is-now-available-in-operate\n\nI would very much appreciate your support. A big hug and greetings from Venezuela ;)",
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      "body": "One of the Major problems we have in Cryptocurrency space is the terms we use and one of the terms is money which very few people can actually understand. so let’s try to understand what money is and how it works\n\nMoney itself means nothing it can be can be anything stone, metal, rubber, coin or a piece of paper Money has no intrinsic value, and it derives its value from its properties\n\nAnything that we call money possesses one of three important characteristics\n\nMedium of Exchange:- A medium of exchange is something that buyers will exchange with a seller when they want to purchase goods or services from the seller\nUnit of Account: - Provides unit of measurement for defining and comparing value. you walk into a coffee shop menu says Coffee costs $15 and Doughnut costs 10$, you know what that means now imagine that if we use apples and oranges as money. Coffee costs 10 apples and Doughnut costs 15 oranges. it will not be easy to know the difference\nStore of value: - It is the function of an asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved.\nLet’s take a brief look at history and see how money is evolved and which form of money possess these characteristics\n\n<h2>Barter System</h2>\n\n![trade-by-barter.jpg](https://steemitimages.com/DQmTxVTyH6duLVpVcnJv7bmwQoLDVW782HFv987ggWVEBwB/trade-by-barter.jpg)\n\nIn the beginning of civilization world economy worked in a barter exchange, it means exchanging goods and services for goods and services. For example, I am a farmer and I grow wheat I can sell wheat in exchange for cloth from the weaver in return\n\nThat is a terrible medium of exchange as a farmer can only exchange wheat when Weaver has Cloth to give. There is no common measure (unit) of value of goods and services hence no unit of account and lastly a poor store of value as if I exchange tomatoes for wheat that tomatoes will rot after a few days hence destroying the value\n\n<h2>Precious Metals</h2>\n<br>\n\n\n![coins.jpg](https://steemitimages.com/DQmXKLsJHQ1njz17dXQmybKzMccT23NgpgPzn2sZfGCytjB/coins.jpg)\n\n<br><br>\n\nNext step in the evolution of money was Discovery of precious metals gold, silver. gold became a good store of value because of its properties like durability, scarcity, transportability which was not there in case of other commodities like rice, oil. Every Civilization has tried using many commodities but they always ended up using precious metals and mainly gold\n\nGold and precious were also linked to paper money for many years as people can exchange gold for the amount of paper money they had\n\nSo what are the problems associated with gold as currency, one obvious problem is it serves as a terrible medium of exchange for buying goods and services, a poor unit of account as you cannot price everything in Gold, imagine trying to buy a coffee with gold and We do not have that much Gold to sustain the current Economy value.\n\n<h2>Fiat Money</h2>\n<br>\n![fiat.jpg](https://steemitimages.com/DQmdWUqTmueG7jnp8dWkyNijbbnsxpDMsP5knFCMqWbKZ42/fiat.jpg)\n    <center> <i>“Paper money eventually returns to its intrinsic value – zero.” (Voltaire, 1694-1778 )</i></center>\n<br>\n\n\nChanging from hard currency like gold to fiat as money was a huge deal, imagine trying to convince someone that a piece of paper has some value associated with it now .paper money and banknotes had traditionally acted as promises to pay the bearer a specified amount of a precious metal, typically silver or gold. because it was very difficult to transport gold or silver from one point to another .so as the economies grew paper currency was issued.In 1971, the United States went off the gold standard, thus creating a pure fiat currency, a currency backed only by faith in the government's ability to pay debts. The fiat money we have no other purpose than exchanging goods and services.Fiat word is derived from the word faith, thus we can it as faith money\n\nWhen our currency was redeemable in gold or silver a person who is worried about inflation could convert his currency to gold or silver.\n\nOnce inflation is moderated he can buy the currency again. He would get more currency for the gold or silver than currency given when exchanged. So he was able to maintain same purchasing power of the currency as before\n\nSo what is wrong with this system of trust? The problem, of course, was that sometimes governments broke their promise. Following World War I, Germany printed so much money that what could be purchased for one mark in 1918 cost about one trillion marks in 1923.\n\nIn 2009, one US dollar brought you more than 6 billion Zimbabwe dollars at the official exchange rate. There are many other examples in history in which countries suffered losses due to hyperinflation\n\nSo paper money provides a very good medium of exchange, a unit of account as it can be used to price goods and services but does it provide a good store of value, well I think you can answer this question by yourself now\n\n<h2>Cryptocurrencies: Engineered Money</h2>\n\n![160504-bitcoin-b.jpg](https://steemitimages.com/DQmRrfHrGhWBBEjkeKaDmD8SJ4KqweTmWh4FiyxXUVGpLwJ/160504-bitcoin-b.jpg)\n<br>\n\nInternet was one of the most disruptive inventions ever created, it has given us applications like World Wide Web, video on demand but still, it is the most underestimated inventions\n\nOne of most disruptive application of internet was created in 2009 when we digitalized money and created a virtual currency, which has potential to change the entire economic world.Yes I am talking about Bitcoin\n\nBitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009. Bitcoin is a peer to peer system, transaction takes place without the help of third parties, transactions are verified by independent nodes known as miners and recorded on public global ledger known as Blockchain, It is also known as Decentralized Clearing House\n\nWe invented Paper money because of the inability of gold to act as a good medium of exchange but  we run towards gold when we want to hedge against inflation, we are subjected to the limitations of paper money because of its centralized  architecture it is going to be inflated forever\n\nNow, something different has happened with Cryptocurrencies. For the first time in history, we have Engineered Money. What I mean to say is we have created the properties of Money according to our needs. We created an amazing medium of exchange which can settle millions of borderless transactions in seconds, a good unit of account and amazing store of value as the supply is limited. We can tweak the properties as we want fungibility, durability, transportability according to user needs. A system of money where privacy is a feature which government took away from us. Other than that we have added one more property which never existed before a universal database, now you can track your transaction from anywhere in the world anytime\n\n\n\nSome of the amazing benefits of cryptocurrencies are listed below\n\n<li>settle billions of transaction per second at zero cost</li>\n<li>ability to do microtransactions</li>\n<li>transportation across the borders pretty easily</li>\n<li>ability to maintain Anonymity in transactions</li>\n<li>ability to  transact without the third parties</li>\n<li>ability to track every bit you spent</li>\n\n<br>\nYour Money can be converted into a digital gold with just a click with no holding and transportation risk, you can also buy a cup of coffee or pizza with that digital gold you just made\n\n\n\nHappy Investing!",
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      "body": "![bitcoin_new.jpg](https://steemitimages.com/DQmcedyyimRtAp4UcpaivAUj8h5wRkcEVSnZeorFZD472rH/bitcoin_new.jpg)\n\nThe Bitcoin, unlike traditional banking system, is based on peer to peer decentralized trust. Instead of centrally trusted authority trust is achieved by different participants participating in the Bitcoin Network\n\nLet's try to understand bitcoin and other key concepts in a simple manner. John heard about a new coffee shop which sells amazing coffee and accepts Bitcoin as a payment method. John went to the coffee shop to buy coffee which costs 15$ and its equivalent amount in Bitcoin is 0.134 BTC(at the time of writing) John took his mobile phone, opened his wallet app, entered the coffee shop's Bitcoin address in the recipient field, entered the amount and hit the send button\nLet's try to understand what happened here by understanding few key concepts while coffee shop owner is waiting for the confirmation of the transaction\n\n \n<h2>Addresses, keys, wallet</h2>\nBitcoin address looks like a string of digits and characters that can be shared with anyone to receive payments. Here is an example of how Bitcoin address looks like\n\n\n\n![bitcoin_address.jpg](https://steemitimages.com/DQmS9Sbxy4aPZsKnPWWp3u1xNM7huGbcrhTvcuArePt7YPr/bitcoin_address.jpg)\n\nKeys are in the form of public key/private key pair. Bitcoin transactions are secured by public key cryptography, which guarantees the authenticity of the transactions. sender sign the transaction by the private key and attach the public key to it. Node in the network that receives the transaction can verify the authenticity of the transaction by the same public key\n\nA wallet is just a software program which holds both of your keys and interacts with the Bitcoin network so that you can send and receive money. A user can have multiple numbers of private key/public key pairs associated with a single wallet. keep in mind that digital wallet doesn't store actual money(bitcoin) in the wallet like traditional wallets. wallets just secure your private keys which help to unlock your Bitcoin\n\n\n\n<h2>The Blockchain</h2>\n\n![blockchain.png](https://steemitimages.com/DQmeajRrZkZC3TzPKnUx1yGeoJht91h9jKRRGcZBrDMgeK1/blockchain.png)\n\nBitcoins are not stored anywhere, there is no digital file like Bitcoin that someone owns. Ownership of Bitcoin is just an entry in the blockchain. To check how much Bitcoin a particular address owns we check the total amount received in all the transactions involved with that address.\n\nBlockchain can be defined as incorruptible public ledger which records every transaction that  has ever happened in the bitcoin system \n\nBlockchain contains blocks filled with the transactions where every new block is linked to the previous block(parent). A number of nodes participating in the network in a rigorous energy and computation power consuming process known as mining which finally updates the Blockchain approximately after every 10 minutes. Instead of having one central location to store blockchain, a copy of blockchain is distributed among all the participants. anyone can participate and update the blockchain\n\n \n<h2>Mining</h2>\n\n![mining.jpg](https://steemitimages.com/DQmTsf5U6YwLv7Vjjgig6Z3QaH6TfrzMiCZY64wo9eQKGUp/mining.jpg)\n\nBitcoin network has peer to peer architecture. The term peer to peer means that all the users participating in the network are peers to each other. There are no special users in the network, There is no centralized service\n\nMining is a process by which by which Bitcoin is added to the supply. There can only be roughly around 21 million bitcoins that will ever be created. Mining is necessary to keep Bitcoin system Secure. Miners validate the transaction and put them into blocks and finally, these blocks are added to the blockchain. Transactions that become part of the block are considered confirmed, which allow owners to Bitcoin to spend the bitcoin they received in those transactions. Miners earn a reward for mining, they collect the new bitcoins added to the supply and the transaction fees from all the transaction included in the block. To collect the reward miners compete with each other to solve a difficult mathematical problem, which requires a lot of electricity and computing power.After approximately every 10 minutes a miner finds the solution of the problem and attach it to the mined block known as Proof of Work because it acts as a proof that miner has spent enough computing power and resources. After verification of that block by other miners that block is added to the blockchain. Mining is critical process in Bitcoin system as it works as a decentralized clearing house, by which transactions are validated and cleared\n\n\n\nTo sum up, miners perform basically four tasks:-\n\nIndependent verification of transaction by every miner\naggregating the transactions from the mining pool into blocks\ncompeting with each other to find the solution to Proof of Work algorithm\nindependent verification of new blocks that are to be added into the blockchain\n\n\n\n\n\n\nLet's go back to our coffee shop example, John's wallet application constructs a transaction of 0.134 BTC to coffee shop's owner address using John's private key and pushes that transaction into the Bitcoin network. Mike, who is a miner receives John's transaction checks if John's address have enough balance and it is signed by John's private key or not. After verification of the transaction, Mike put John's transaction into a block and compete with other miners to find the solution of the mathematical problem using Proof of Work Algorithm by spending computing power and energy. After approximately 10 minutes John is able to find the solution and add the solution to the block, other miners verify the validity of the block and if everything is okay Mike's block is next block which will extend the blockchain. Coffee shop's owner will checks if it has received a new transaction to its address and after the block is added to the blockchain coffee shop owner is able to spend those Bitcoin that it has received from John\n\n\n\n<i>Happy Investing</i>",
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      "body": "![Cryptocurrency-Bitcoin.jpg](https://steemitimages.com/DQmTC8BL693msaoUqBfnRUm9Dt3PN9GNTvn8biwCGxWFaxM/Cryptocurrency-Bitcoin.jpg)\n\nWhy Investing is Important!\nThere are few reasons why should start investing one of the most compelling reason is not having to work your entire life, let the money work for you as warren buffet said If you don't find a way to make money while you sleep, you will work until you die, you can choose different investment vehicles to grow your wealth such as stocks, certificates of deposit, or bonds\n\n\n\nCryptocurrency as a new Asset class\nCryptocurrency is a new asset class in the market, the cryptocurrency market has made me a 5,982% ROI in just under a year, and $100 invested in bitcoin turned to $75 million in 7 years.\n\nWhen I first started taking an interest in cryptocurrency I thought I was so lost in this huge sea of unknowns. But if you look at history that is how a technology behaves in its early years not that easy to use, difficult to understand the first computer was as big as a room, it was very difficult to describe internet to people in 1990s\n\nAs the tech literacy of the population increases, acceptance of crypto as a legitimate store of value follows, and it boomed. What we know for sure is that people who were once skeptical of Bitcoin and the technology behind it are slowly understanding and getting increasingly involved with crypto. As at the time of writing, the market cap of the entire crypto space is at 500 billion USD(at the time of writing). It was 40 billion just four months ago. What would it be four months from now? Foreign exchange\n\nMarket is worth $5.3 trillion I would not be surprised to see it above 2-3 trillion mark in the coming 3-5 years\nlet’s take a quick look at the bitcoin price chart from coin desk\n\n\n\n\n\nCurrent Makeup of the Cryptocurrency Space\nYou would have heard of Bitcoin and the altcoin, altcoin describes every single cryptocurrency except for Bitcoin. Altcoins are referred to as Bitcoin alternatives because, at least to some extent, most altcoins hope to either replace or improve upon at least one Bitcoin component. These altcoins are gaining market share at an alarming speed. Ten times or more growth has been observed in a time span as short as six weeks.\n\n\n\nThe top 5 altcoins according to CoinMarketCap\n\n\n\nCryptocurrencies as Stocks\nThe currencies we know are referred to as ‘fiat’ by the cryptocurrency community. Although having ‘currency’ in its name, cryptocurrencies share more similarities with stocks than currencies. When you are buying a cryptocurrency you are actually buying a tech stock a part of block chain or piece of decentralized network\n\nHere are the four questions I ask myself before investing in any tech startup\n\nwhat is the team behind that project\nTiming of the project matters\ncan company explain in simple terms about the problem they are solving\nidea should be unique\nThese four questions are the start of my research into the state of the company\n\n\n\nCryptocurrency as a Percentage of Your Investment Portfolio\nThis part will be wildly subjective. Crypto has the potential to realize many ‘rags to riches’ stories, but its volatility makes it unpredictable. As a precaution, the money you put in crypto should be money that you are fine with losing. I cannot emphasize the importance of this as we often underestimate how the volatility affects our emotional capacities. The upside is huge, but it comes with lots of risks and, if I may put it, emotional torment.\n\n\n\nA conservative portfolio I would suggest is as follows:\n\n< 30 years old (max) 30% Crypto, 50% Traditional Investments\n\n30 – 40 years old (max) 20% Crypto, 60% Traditional Investments\n\n40 years old (max) 10% Crypto, 70% Traditional Investments\n\n\n\n\n\nThis is not meant to be age discriminatory but considers the fact that one takes up more financial responsibilities (mortgage, family) as he grows older.\n\nWithin the designated crypto share of your portfolio, you may diversify your coins based on your risk appetite\n\n\n\nHappy Investing!",
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