Steemit Crypto Academy Season 2: Learn About Cryptocurrency, @dulce2

In this task I will carry out my research on cryptocurrencies and the conventional financial system, after reading the professor's lecture, welcome.

One of the great differences that cryptocurrencies have over the conventional financial system is their decentralization since they are based on smart contracts in blockchain, this allows all the procedures to be carried out freely, since it does not depend on institutions that support the cryptocurrency or follow orders from third parties. When we speak of a centralized system, we say that it is a system regulated by institutions that back the currency, in many cases they are private institutions.

The conventional financial system has benefits that support the client, always contribute something positive in relation to the bank account, and should not present problems of any kind in the transactions, since the bank has full control of the client's account and if a unexpectedly, the client contacts the bank and the problem is solved, in cryptocurrencies it is not like that since there are no entities that control the currency and if you make a transfer through a bad data, unfortunately you cannot get your money back,

A big problem that conventional financial systems present is the slowness that transfers execute, either for other entities or abroad, in cryptocurrencies it is not like that, since everything is based on smart contracts and through this the transfers are extremely fast, since they are only validated in a few seconds and sent to the recipient's account.

A big problem that conventional financial systems present is the slowness that transfers execute, either for other entities or abroad, in cryptocurrencies it is not like that, since everything is based on smart contracts and through this the transfers are extremely fast, since they are only validated in a few seconds and sent to the recipient's account.

Cryptocurrencies are covering the world financial system more, and we are all adjusting to them, this allows us to be the next financial generation.

Decentralized systems provide many positive issues, be it speed of use, security measures regarding access to our account, make any type of change that we want without paying any large commission, since many times you have to pay what is worth, inflation is zero and does not affect cryptocurrencies, it would help us to guarantee the protection of our investment without the need for someone to guard it, we would not have a problem with money limitations or setting a term to carry out a transaction, since we can carry out transfers of any amount of money without limitations.

Also because the decentralized system will never block our money, nor will it ask you where that money came from, the decentralized system is a very good choice today because it gives good freedom in finances. Anyone with internet access can have financial freedom with cryptocurrencies.

Cryptocurrencies fluctuate through an upward and downward cycle, this has a lot to do with the supply and demand of investors, also with the psychology that many large investors can use through their social networks as in the case of Elon Musk and Michael Saylor, two tycoons who use their power for strategic purposes over their investments, trust is another very important point that greatly influences the value of a cryptocurrency, since if the investor does not feel confident in a cryptocurrency, he will quickly get out of it. . The value of cryptocurrencies is between trust and fear that exists among investors. It also depends a lot on the characteristics of the cryptocurrency, such as the number of tokens that exist, if the tokens have burn variations, if the cryptocurrency can be mined, and how the cryptocurrency is purchased.

To be a miner you have to have certain requirements, which can be, a good equipment of high-end mining equipment, to make it more efficient, good power supply, since these mining machines need a good power supply, maintenance That imply, an area specially designed for machinery, all these elements are highly expensive, they can be purchased in second-hand markets but they may serve a couple of months or years and then they do not give for more, remember that many cryptocurrencies in a certain time they perform a mining division in half and this makes the transaction validation by mining very difficult since the machines are obsolete due to the algorithmic difficulty necessary to validate information, in addition to this we must see if in our country of origin, the laws support in our favor on the mining of cryptocurrencies, since in many cases it is prohibited.

Cryptocurrency transactions can be called transparent since they have free transfer visualization, when you make a transfer, anyone can see that you carried out that operation, remember that each of the users to make transfers or exchanges it is necessary to use a wallet, thus, before any operation is registered in the blockchain network and anyone can see it, also because through the exchange of the wallet it allows us to make exchanges towards other cryptocurrencies and stable currencies, even exchanges for fiat currencies of each country, all this without the need to exchanges or any person in between who withholds our money, the cryptocurrency system works 24 hours a day, the cryptocurrency system has helped in business and especially in sending remittances, to many users worldwide.

The development of cryptocurrencies in Venezuela is legal, anyone can pay in an establishment if it accepts payments in cryptocurrencies, most people have little knowledge regarding cryptocurrencies but not everyone uses it and much less work in them They are very few, and most make cryptocurrency exchanges through the p2p operation of our wallet.

In relation to cryptocurrency mining, the Venezuelan government prohibited the use of mining machinery at the national level, as it is a risk for the national energy.

Many people do it clandestinely but are prone to pressure.

In 2018 the cryptocurrency "Petro" was launched on the market, this cryptocurrency was put into circulation because the United States would have implemented severe sanctions against the government and the latter to get away with it, and carry out operations without an opto registration for the creation of the cryptocurrency This cryptocurrency is anchored to the value of a gallon of Venezuelan oil and everyone can acquire it but not withdraw it or exchange it for other pairs, for this reason this cryptocurrency is only used for the benefits of the Venezuelan government.

---

Conclusion

---

Cc.
@levycore
@steemitblog
@steemcurator01
@steemcurator02