What The Blockchain And Cryptocurrency Mean To You

So, what does the blockchain and cryptocurrency really mean to you? Well, really everything.

Blockchain technology and cryptocurrency are fundamentally transforming our lives, unlike anything we’ve seen in a long time.

In fact, when you think about that transformation, you’ll put it up there with the other giant shifts in technology. I mean...

The printing press... antibiotics... railroads... steel... automobiles... windows... the internet.

Blockchain and cryptocurrency are next.

Right now, I can think of dozens or even hundreds of ways this transformation will impact you. But if I had to boil it down to two big ones, they would be... Continue reading "What The Blockchain And Cryptocurrency Mean To You"

What Is Cryptocurrency Anyway?

When you take your first look at cryptocurrencies like bitcoin, it can make your head swim. I know it did mine. But in this article, we’ll break down cryptocurrencies into bite-sized chunks so you can understand them just as well – or even better -- as the cash in your wallet.

First off, if you didn’t get a chance to do a deep dive into my first article of this three-part series on blockchain and cryptocurrencies, no worries. This article will get you up and running on like a crypto pro in no time. (But do take a spin around that article when you get a sec – it’s a good blockchain primer without all the jargon.)

So, let’s get started!

Cryptocurrency is a type of currency category that you’re most likely comfortable with already: Digital currency. Pretty much without exception, most money these days is digital currency.

After all, when you check your bank balance online, you’re looking at a digital representation of your money. And that’s digital currency.

In fact, you could look at cryptocurrency as a distant cousin of your online bank account, digitally speaking.

But unlike your bank account, cryptocurrencies have some unique and exciting features that make them interesting. Here are two important ones. Continue reading "What Is Cryptocurrency Anyway?"

Here's Why Cryptocurrency Is So Important!

You can’t escape the attention that cryptocurrency is getting. And just about everyone knows that it’s super-important today and in the future.

But they don’t exactly know why it’s so important.

In this first article of a multi-part series, we’ll tackle this important question and much more.

We’ll ask ourselves:

    • What is blockchain?
    • What is cryptocurrency?
    • What do they mean to me and my investments?

In addition, we’ll discover why blockchain and cryptocurrencies will reshape our lives and fundamentally change the way we interact with technology, money, and each other. We’ll dig deep into these exciting and fascinating new technologies and discover insights and opportunities we never dreamed imaginable.

And we’ll do it one step at a time using jargon-free, non-technical terms to make sure we understand the what as much as we do the why. I know these topics can be intimidating. But we’ll be in this together, every step of the way.

But before we get started an introduction... Continue reading "Here's Why Cryptocurrency Is So Important!"

Coinbase IPO Raises Concern About Bitcoin Long-Term

While the price of Bitcoin has been nothing more than incredible over the past year and completely blown me away, (and certainly proven me wrong a number of times when I have in the past stated that I did not think Bitcoin or any cryptocurrency was a "wise" investment), a new warning sign has made waves in the cryptocurrency industry and markets.

The warning comes from Coinbase prior to its upcoming initial direct listing, a different version of an initial public offering. In the report released by Coinbase for potential investors, the company listed several potential risks to its business. This is very common with public companies, even well past the time they have gone public. However, this is the first time we have seen these warnings from Coinbase, which generates the vast majority of its revenue from the trading of Bitcoin and Ethereum.

These risk factors include "disruptions, hacks, splits in the underlying network also known as 'forks,'" as well as developments in quantum computing and regulation that affect cryptocurrencies.

"The future development and growth of crypto is subject to a variety of factors that are difficult to predict and evaluate," the filing read.

Furthermore, the filing also mentioned "the identification of Satoshi Nakamoto, the pseudonymous person or persons who developed bitcoin," as a potential risk factor. It mentioned the transfer of Nakamoto's bitcoins, which some believe is worth around $30 billion. Bitcoin bulls fear that if Nakamoto is identified, it could harm bitcoin's decentralized nature, reputation, and overall security. Continue reading "Coinbase IPO Raises Concern About Bitcoin Long-Term"

Bitcoin: My 1 Reason Why

MarketWatch used to pick up my posts on rare occasion but has not done so for a long time. Maybe they think I make fun of some of their articles or something. I don’t know what would give them that idea. I actually find MarketWatch useful in ironic and non-ironic ways.

But anyway, this morning an article tags along with the recent near-deafening Bitcoin noise…

6 reasons bitcoin is trading at its highest level since 2017 — and 1 warning

6 reasons are given for Bitcoin’s re-found popularity. They are the usual pap, including a Dollar/Gold rationalization.

“Bitcoin as a form of digital gold is also seeing its time in the sun as we see the floodgates open on monetary policy. Closing the sluice gate is more difficult than opening it,” Charles Hayter, founder and CEO of CryptoCompare, a company engaged in bitcoin data and analytics, told MarketWatch.

Bitcoin is not a form of digital gold. That is one of the zaniest things I’ve ever seen in print. I am admittedly an old fashioned gold valuing curmudgeon. But in my opinion, Bitcoin is a digital concept; one that I think can be controlled or co-opted by governments more readily than the gold buried in the woods behind some crusty old bug’s shack (to boot, the digital kids are not guarding their hoards with physical shotguns, just maybe virtual hacks or viruses).

1 Reason Why

It was time. Bitcoin is having its technical day in the sun and only this week hit the target NFTRH has had for it since early 2020. Due to nutty rationale like the above and the weight of momentum-fueled money starting to pile in, not to mention an overbought reading on this weekly chart, I think it can pull back here. Possibly to support at the 12500-13500 level. Continue reading "Bitcoin: My 1 Reason Why"