Most used words in crypto world

"I'll pay 10,000 bitcoins for a couple of pizzas. Like maybe 2 large ones so I have some left over for the next day" - by Laszlo Hayenc (2010)

Bitcoin Pizza
Thus, the first purchase of goods with bitcoins, the most popular crypto currency, was carried out in 2010 by Laszlo Hayenc, a programmer from the United States. At that time, the price of Papa John's pizza was 10,000 bitcoins, which were worth about 40 dollars in total. Today, with this money, you could buy around 400,000 margaritas from La Pizzeria, and 10,000 bitcoins today have value of about $35 million.

Bitcoin is the currency that was supposed to be created in 2009 by a person under the pseudonym of Satoshi Nakamoto.

Payment with bitcoin - money that does not have a materialized form - has many advantages. Transactions are anonymous, there are no intermediaries (such as banks), and distance payments are simple and inexpensive, since the currency is not tied to the country.

Users of altcoins make anonymous transactions

The majority of crypto currencies (more than 900), work in the same principle. They are stored in digital wallets, and transactions are carried out through blockchain-based or data-block-based applications, reminiscent of digital money transfer. Any transactions performed are displayed on a public record, but the names of customers and recipients are not known, only the identification number of their wallet is known. Because of anonymity, which can be an advantage or disadvantage, crypto currencies are often used for black market purchases.

For all those who would like to reduce the risk of lack of knowledge or time, I would advise that they do not trade with the crypto currencies and other means of blockchain technology on a daily basis, but look at the selected assets as a long-term investment, which increases in price with demand. Since the current technology, (which has the potential to change the concept of the Internet next to the financial sector) is actively using only less than 1% of people, such an investment is extremely interesting from my perspective.

Just some of altcoins and their icons

The crypto-currency has experienced an expansion this year, which is difficult to compare with any other type of securities. An increase in the total market capitalization of crypto currencies from about $ 18 billion to more than $ 116 billion in its peak in more than 8 months, a rise in bitcoin prices from $ 1000 to just under $ 5000 and an increase in the value of ethereum by more than 4,000% (the currency with the second largest market capitalization) are facts that talk about how unbelievable the market is taking on this new category of assets, which are attracting even the most bullish investor in the crypto-currency investment. Technology and solutions brought by crypto-currencies are good enough to attract attention from the world's largest companies as well as countries.

Financial institutions and global companies interested in the development of the ethereum platform, powered by the ether crypto currency, stay in the Enterprise Ethereum Alliance.

The association, which has 116 members and includes Microsoft, Intel, Samsung, JP Morgan Chase and UBS, is dedicated to researching and implementing commercial solutions offered by the ethereum platform with its main function of smart deals. Low entry barriers and returns, which are not comparable with any other investment alternative, only help to inflame the euphoric enthusiasm around crypto currencies.

The total market value of bitcoin and ethereum represents about 70 percent of the market value of all crypto currencies

However, with explosive growth, we must not forget the strong corrections which inevitably follow such growth. Fluctuation of individual currencies is even more pronounced, and daily fluctuations exceeding up to 25 percentage points are not unusual. The extraordinary volatility of crypto currencies is a constant thing in the markets and something that every potential investor needs to prepare. Crypto-currencies and their market are at an early stage in their development and barely gaining attention from the general public and the media.

On this basis, and compared to the NYSE ($ 21 trillion), there are forecasts of the few billion market for crypto currencies by 2020.

The fact that the countries are barely starting to recognize the existence of crypto currencies and the countless possibilities of commercial the use of blockchain technology .... imply that this prediction is not so impossible.