# The Time Has Come I have been investing and reading about *crypto currency* since 2014. Yet, I know nothing. I know a little bit, sure, but when I talk about it I feel weird. I feel weird because I can feel I don't truly understand what it is. So in this series, I will try to understand what a crypto currency is, a blockchain, mining, just in general, how it works. To show you how I would react if a person asked me; *"Jeppe, what is and how does Bitcoin actually work"* **I would react like Ron Burgundy was asked what divirsity is..** https://www.youtube.com/watch?v=Lmj9HnbdhTc # What Is A Crypto Currency? Well if we take a look at what wikipedia says, you will find this.. > A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency.[1] Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies. Come at me @cheetah! Well for me. This dosn't make much sense. It might be because English is not my native language, or that I'm an idiot. I am likely to believe both. For me, and hopefully for many others, I need a more simple explanation. **I will try, but please correct me if i'm wrong!** Crypto - Currency. Lets break that down. We all know what *currency* is, but when we add crypto it gets trickier. **A cryptocurrency is digital decentralized currency**. So a digital currency that is not controlled by a goverment for example. **It is simply a digital currency that is not controlled or govern by anyone**. # How does it work then? No idea...Hopefully I will figure it out.. # Thanks for reading https://steemitimages.com/0x0/http://gifmaker.me/files/download/home/20170524/19/1TaQiZOMlcB3yvcfQ4sfnr/output_9mip1c.gif Thanks for this @papa-pepper!
post_id | 3,048,775 |
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author | arsenal49 |
permlink | what-the-heck-is-a-cryptocurrency-a-study-made-by-a-noob-for-a-noob-part-1 |
category | cryptocurrency |
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root_title | "What The Heck Is A Cryptocurrency? - A Study Made By A Noob For A Noob - Part 1" |
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voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
wackou | 0 | 628,107,547,807 | 12.5% | ||
boy | 0 | 5,809,056,277 | 100% | ||
bue-witness | 0 | 7,083,163,119 | 100% | ||
bunny | 0 | 1,016,672,076 | 100% | ||
bue | 0 | 116,873,864,579 | 100% | ||
mini | 0 | 3,104,844,162 | 100% | ||
moon | 0 | 394,759,920 | 100% | ||
healthcare | 0 | 1,157,080,915 | 100% | ||
daniel.pan | 0 | 1,830,529,135 | 100% | ||
helen.tan | 0 | 529,189,970 | 100% | ||
hipster | 0 | 143,137,718,251 | 25% | ||
acidyo | 0 | 546,634,202,575 | 25% | ||
samether | 0 | 2,961,762,284 | 25% | ||
christoryan | 0 | 674,267,574 | 2.5% | ||
roelandp | 0 | 220,226,890,333 | 25% | ||
cryptochannel | 0 | 736,281,520 | 25% | ||
ausbitbank | 0 | 417,870,214,827 | 10% | ||
krystle | 0 | 4,113,187,276 | 10% | ||
arconite | 0 | 3,887,298,313 | 100% | ||
craigslist | 0 | 782,936,007 | 100% | ||
rubenalexander | 0 | 3,505,792,608 | 10% | ||
joshsigurdson | 0 | 4,245,172,733 | 100% | ||
gardengirlcanada | 0 | 66,462,129 | 100% | ||
essavan | 0 | 591,563,179 | 100% | ||
projectnewbie | 0 | 3,775,129,800 | 25% | ||
katharsisdrill | 0 | 58,006,138,010 | 100% | ||
vcelier | 0 | 185,125,125,875 | 25% | ||
tamersameeh | 0 | 129,086,891 | 25% | ||
fisteganos | 0 | 1,271,649,903 | 5% | ||
justinashby | 0 | 1,198,813,698 | 25% | ||
evildeathcore | 0 | 812,139,911 | 25% | ||
woleybabz | 0 | 429,446,478 | 100% | ||
arsenal49 | 0 | 8,425,496,797 | 100% | ||
anna-youness | 0 | 955,349,224 | 100% | ||
sanchez | 0 | 570,055,115 | 100% | ||
groundrising | 0 | 1,345,600,501 | 100% | ||
lfoote | 0 | 1,121,758,816 | 100% | ||
civis-mundi | 0 | 168,067,262 | 100% | ||
mrakodrap | 0 | 1,150,956,791 | 100% | ||
tlester | 0 | 1,250,048,764 | 100% | ||
cryptopher | 0 | 1,221,799,711 | 100% | ||
symbiotic | 0 | 1,531,799,612 | 100% | ||
schlees | 0 | 1,320,475,362 | 100% | ||
nrajesh | 0 | 1,762,169,567 | 99% | ||
clevercreator | 0 | 519,842,151 | 100% | ||
sireland | 0 | 1,515,752,320 | 100% | ||
emilniz | 0 | 212,151,558 | 100% | ||
martin.the.chef | 0 | 1,333,523,583 | 100% | ||
bigmidas | 0 | 1,181,984,447 | 100% |
Steem on!
post_id | 3,049,597 |
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author | clevercreator |
permlink | re-arsenal49-what-the-heck-is-a-cryptocurrency-a-study-made-by-a-noob-for-a-noob-part-1-20170525t144203419z |
category | cryptocurrency |
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root_title | "What The Heck Is A Cryptocurrency? - A Study Made By A Noob For A Noob - Part 1" |
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voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
arsenal49 | 0 | 8,498,170,416 | 100% |
Love the ron burgundy clip! Start with comparisons. I'll use US Dollars (USD)/Bitcoin (BTC) Media = Paper/Digital Supply = Gov/Science Person 2 Person transfer = Physical/Computers transfer processing = Banks/Miners processing payments = Bank fees/Bitcoin Value = Confidence/Confidence Security = Physical/Crypto (ever increasing encryption, aka blockchain) Policy = Government/Transparent Science There's probably many more comparisons to be made but basically if you trust governments and the people that run them then stick with fiat currency (paper money). I trust scientific code that is public.
post_id | 3,050,406 |
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author | sireland |
permlink | re-arsenal49-what-the-heck-is-a-cryptocurrency-a-study-made-by-a-noob-for-a-noob-part-1-20170525t150824399z |
category | cryptocurrency |
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root_title | "What The Heck Is A Cryptocurrency? - A Study Made By A Noob For A Noob - Part 1" |
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---|---|---|---|---|---|
arsenal49 | 0 | 8,498,170,416 | 100% | ||
sireland | 0 | 1,518,975,770 | 100% |
Thank you! I might use that in the next one!
post_id | 3,053,462 |
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author | arsenal49 |
permlink | re-sireland-re-arsenal49-what-the-heck-is-a-cryptocurrency-a-study-made-by-a-noob-for-a-noob-part-1-20170525t165503276z |
category | cryptocurrency |
json_metadata | "{"app": "steemit/0.1", "tags": ["cryptocurrency"]}" |
created | 2017-05-25 16:55:09 |
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root_title | "What The Heck Is A Cryptocurrency? - A Study Made By A Noob For A Noob - Part 1" |
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sireland | 0 | 1,518,975,770 | 100% |
Haha I believe we all start the same way, learning on our side... I did the same ;) https://steemit.com/story/@ced/a-full-week-learning-about-cryptocurrencies-blockchain-1800-words
post_id | 3,063,119 |
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author | ced |
permlink | re-arsenal49-what-the-heck-is-a-cryptocurrency-a-study-made-by-a-noob-for-a-noob-part-1-20170525t222934332z |
category | cryptocurrency |
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root_title | "What The Heck Is A Cryptocurrency? - A Study Made By A Noob For A Noob - Part 1" |
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Nice work
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author | ullsgpir |
permlink | re-arsenal49-what-the-heck-is-a-cryptocurrency-a-study-made-by-a-noob-for-a-noob-part-1-20170526t090422452z |
category | cryptocurrency |
json_metadata | "{"app": "steemit/0.1", "tags": ["cryptocurrency"]}" |
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arsenal49 | 0 | 8,962,353,454 | 100% |