Hay Fam, hope you are doing well and welcome to this amazing community!
Hello everyone, this is @waverunner and i am back with my another @leofinance post in this post i am trying to give some information about cryptocurrency which i learnt in my past dayz.
History of Crypto Currency
A person does not have only one need, he always needs many things An influential person cannot produce all those things himself, so he has to take other things from someone else. But a person cannot just give away the things created by his hard work for free.to take something in return for something the process of business is called because of this and in this way the business started Humans have been doing this transaction process since ancient civilization but or the process could not go on for a long time.Because if we compare a valuable item such as jewelry with a less valuable item, then it was a very difficult problem for us to travel with it.The coin was created to solve that problem only and later this coin was converted and digitized to form a cryptocurrency.
My Confusion About Cryptocurrencies
I was always interested in this type of currency, but my biggest confusion was that I understood the same way of trading in the stock market and these cryptocurrencies and believed that way, in the stock market, people keep them for purchase and sell them when their price rises, in the same way in crypto currency, they buy coins and wait for its price hike and send it when the price rises so that they get their profit directly but I was wrong. These two things were completely different, as if there is a difference between the land and the sky. When it happens in the stock market in which you buy the company's stock and become the owner of that part in which if the company has a loss then you will have a loss if the company goes into profit then you will benefit greatly.
An introduction of Crypto Currency
Now let me tell you about cryptocurrency. These currencies are in such a way that the holder who buys it can sell or give it in any platform after buying it.But it will not be reported to any third person, even if it is government, in such a situation that person does not have to pay any tax on this amount and how much is this amount. He does not even have to tell It's a pear to pear Encrypted.This means that the information about this happening will remain only between the two persons between whom or is being shared, that is, the third person cannot interfere in it.
But if you lose that password due to any reason then you will not be able to remain a participant of that partnership.Cryptocurrency works on this technology.
I have learned all the information given in this blog very soon and I am still in the process of learning. All the information given in this, some information may be wrong and some may have been missed. But I have tried to collect almost all the information. So if you find any moment wrong or missing then I will wait for your suggestion in the comment box and I will wholeheartedly welcome it and will try my best to rectify it.
Its relation to blockchain technology
This technology is related to Blockchain technology and and Blockchain technology is such that you can convert the purchased amount into any other crypto amount and you can give some part of it to anyone, make anyone entitled to it and convert it to any currency of any country.and the blockchain technology that works on #Hive. That people who support other people get some percentage of their upvote done and those who get these votes can also vote for any person and some percentage of the upvotes done by them will not be returned and the same sequence goes on continuously.
Why have some countries kept this technology closed, along with its advantages and disadvantages.
As I said above it is end to end encrypted. The government is not able to know who has how much amount in it and taking advantage of this, they put money in it.Those who have black money and this causes a lot of loss to the government.Due to this, a lot of crime can also be encouraged, so the governments of many countries have banned cryptocurrency.Like Turkey happened and India was also thinking of banning it but it is not possible yet.
Difference between crypto currency and stock market.
A lot of people get confused in these two things and just happened to fall prey to this as I have shown above. Stock market means that by buying the stock of any company, you become the owner of that company's stock, that is, that company's owner that is, if you buy stock of any XYZ company, then if that company is running in loss, then you will also go into loss, at that time you will have no option but to weight but if I talk about crypto market, then in this market you can buy and send them to another in exchange for any one coin, there are many companies to do this such as CoinBase, Binance.There are many similar platforms where money can be exchanged, although the platform was not an exchange platform, it was only for the person who has to go to another country while traveling so he used to have a lot of problem in money exchange, so he could travel very easily using this currency and could also buy the things he needed.
My point of view of crypto market
If I talk in respect of any government and in respect of any country So this market can prove to be very harmful.But if I talk in a single person respect, then this market can also prove to be very beneficial for him because all his exchange can not be reported to any third person and he can directly can exchange.
Thankfulness to you all.
The way all of you guys have responded on the second post of @leofinance, I am grateful to you all for this and especially the @behiver who did my previous @leofinance e post in a nice comment along with upvoted by 100% now.
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No brother i am not a bot. I am student of MNNIT Allahabad persuing B.tech