@terminallyill presents.........
LUCKY'S CRYPTO GUIDE FOR BEGINNERS
PART TWO
Lucky here with Part Two to my fully comprehensive crypto guide that is breaking down cryptocurrency for the absolute beginner. This article is based on one of the key terms that define the blockchain and cryptocurrency, DECENTRALIZED. This word itself, is what makes crypto what it is today and is what made the blockchain tremendously successful, so understanding what it means, is very important to anyone aiming to tap into the crypto world. This is a brief breakdown for the beginner, providing basic insight into this key term. Be advised, this subject gets significantly more in depth and I will touch base on some of the different forms of decentralization in a later article to my series. For now, let's start at the bottom and work our way up.
WHAT DOES DECENTRALIZED MEAN?
For starts, "decentralized" means that it is not controlled by any one person or organization, more specifically a government. For example, the US government controls the US Dollar, making USD a centralized currency. Bitcoin, is a anonymous and uncontrolled digital currency, regulated and internally controlled by nothing except the value the market drives it to. No world government can regulate or control the value and use of the blockchain, ultimately meaning the currencies created from blockchain technology, cannot be manipulated by world government. This exact lack of control has spiked fear among countries such as China and the good ole US of A, who famously control just about every aspect of a citizen's life, whether they realize it or not. The funny thing is that these countries are trying to centralize (or control) a decentralized (uncontrolled) currency. I will save that for another article in the future though.
A DEEPER LOOK INTO DECENTRALIZATION
To dig even deeper, a blockchain is politically decentralized (unable to be controlled by anyone such as government or groups), architecturally decentralized ( no one server or system controls the blockchain meaning no chance of system shutdown from a main server failure) and a blockchain is logically centralized (meaning there is one common goal which the entire network works endlessly to achieve). These are all tremendous benefits to the potential future of economics, business, technology and the crypto currencies themselves.
WHAT DOES DECENTRALIZATION DO FOR YOU?
To throw it out there, basically, decentralization has made it so your hard earned money, stays YOUR hard earned money, avoiding manipulation and theft from the powers that govern our world. With the privacy and anonymity the blockchain provides, partnered with full decentralization, you can make investments and "nest eggs" that if done right, will not simply vanish like a fart in the wind at some later date due to a country going to war, or anything really. You can protect your assets, hide your assets and more importantly, sleep better at night, thanks to blockchain technology and everything built upon it. Decentralization has also inadvertently given us, the people, the ability to redistribute wealth in this world, making something from nothing and offering hope to those who are in desperation. In all reality, it is your job to ask yourself, what has it done for me? For starts, it created this platform that we all love so dearly!
This wraps up Part Two of my beginners guide, designed to take the average person and turn them into a market specialist, if they utilize my teachings and tutorial series to the T. This portion covered one of the most important terms in the crypto world, if not the most important term. Understanding these key terms, is the key to understanding everything going on around you. I assure you if you stick with this series, you WILL learn something new, even if you are a veteran trader or specialist! The next portion will be anticipated to release tomorrow, however, if I have an opportunity you can rest assured that I will release it tonight. I want to thank you all for your support and for taking the time to read this. A big shout out to my friends over at the Steem Creators Conference over in Vegas, who are up to bat for our groups futures and prosperity. I wish I could have made it, but life demanded me in other places. Thank you guys @dynamicgreentk, @dynamiccrypto and @thundercurator. Wishing you the best of luck this weekend, especially tomorrow at the Pitch Party!
JOIN MY EMAIL LIST FOR AUTOMATIC ALERTS AND NEWSLETTERS AT [email protected]
FOLLOW ME @TERMINALLYILL TO READ MORE THOUGHT INVOKING MATERIAL ON CRYPTO, MUSIC, ADDICTIONS/RECOVERY, BUILDING THE COMMUNITY AND MUCH, MUCH MORE!
TO LEARN ABOUT INTRIGUING WAYS TO HELP THE STEEMIT PLATFORM GROW BY INTERACTION WITH NEW USERS, FOLLOW US @GREETERSGUILD!
DO YOU OR SOMEONE YOU KNOW SUFFER FROM ADDICTIONS OR LIFE STRUGGLES? VISIT @BREAKTHECYCLE FOR 24/7 SUPPORT. WE ALSO ARE LOOKING FOR VOLUNTEERS AND SUPPORT FOR THE INITIATIVE! STOP ON BY!
Thank you for this! I have to go back and look at part one now. I seem to have a general knowledge of all things crypto, but nothing too in depth, so that is why I appreciate a post such as yours :)
You are most welcome @lynncoyle1, trust me there is plenty more to come! Thank you for reading this and supporting this guide!
I'm just finishing with part one (ass backwards I know ;), but it's exactly what I need!
Very happy to hear that ! It means it is a success 😊
Most definitely. I like that you're writing it, knowing that there may be people reading it that have absolutely no knowledge of crypto-anything ;) So it's so simple, but so very effective. Nice work :)
Complete newbie here and I'm finding your series very informative. Thanks!
Coins mentioned in post:
@coin.info you are WRONG my friend....LOL I did not mention two of those....not sure where that came from, but please adjust next time you choose to spam my posts.
regulation will come in in time . This could be good as it opens up the door for hugh investors , or bad as it will bring controls . I do not know how it will go and unable to speculate . So for now the best thing to do is to try and educate myself as much as possible .
this is where this series of post is priceless .
Thanks
Unfortunately, yes, regulations are already being implemented all across the crypto world, especially in limiting new blockchain based companies from coming into play by the SEC. Because of shit like Mt Gox, the government had to intervene to make it so people were not being ripped off. It is a good and bad thing, the least favorable is the fact that our governing powers are looking to control it as they do FIAT currency. What it really boils sown to is 1 - having some form of control and 2 - being able to get their piece of the pie through taxation and such. Sad.....but it is what it is.
I'm happy you enjoy these articles. I'm looking forward to releasing the next, which may be today honestly!
Another great post! Can't wait for more in the series. Will you be posting everyday?
@iamturtless, I am going to try my best to post daily, that is for sure. I will have a fresh one up no later than tomorrow night. Thank you for supporting my guide!