image source

Dalecoin and cryprocurrency simplified. (A local farmer should invest in dalecoin if he knows this.)

One of my My favourite movie of all time is the Indian movie, "three idiots." I watched the movie as if my life depends on it as I paid attention to everyone detail and scene. One scene that I loved most is when the main actor responded to the professor who asked, "what is a machine?" He said, "machine is anything that reduces human effort." A very simple one and straight to the answer. And I also believe that's how everything should be simple.

If you are a doctor, keep your jargon for your mates. Tell me I have a headache and tell your colleagues I have cephalgia.

So this post should explain cryptocurrency in the most unorthodox way possible.

What is cryptocurrency? Another ponzi or hype?

I won't give you an answer immediately, let's start with an illustration. Two years ago you kept #10,000 in one of your bank accounts and forgot you had the money. Now, you just remembered and want to go and withdraw it.

I = PRT/100 Simple mathematics; assuming R = 2.5% I = 10,000 * 2.5 * 2 / 100 I = #500

Assuming the bank deducted #12 from your account every month for SMS charges you will have #10,212 left in your account.

Don't bother to ask me anything about mathematics. Let's move on. (This post is for a layman so I won't try any mathematics again!)

Although very little, you have made some interest that's what the bank manager will want to let you know. But in the true sense, your #10,212 may just be half the value of what it was then. A cup of garri = #20 two years ago but the same cup = #50 today. So your money seems to have increased but it has obviously lost value, too.

Someone or some group of people decided that they don't like the way the banking system is working and decided they are going to find a solution to it once and for all. To do this, they will have to replace our conventional money system with something whose value is stable or fairly stable.

Gold should be up for the challenge. It has been valuable for ages and still is. Another great thing is that there is just a few of it. It's not like a stone that you can just pick up from anywhere. That will be another advantage of keeping the value over time.

image source
So, to buy a cup of Garri, you will have to give the market woman scrap of gold worth #50.
(This is actually not impossible but impracticable.)

Gold cannot be the answer. But if gold is not the answer, what then is?

Cryptocurrency - not Ponzi, not hype - it was just the perfect solution they sought for. It will be like gold - valuable and limited.

Cryptocurrency is digital money that you can not see or touch but is there.

It was developed using complex mathematics so that it will be safe and secure. Just like in the goldmine, there are some people, called miners, who "dig out" cryptocurrency by solving the complex mathematical equations. Each solution is recorded in a place called a block. And several blocks which these transactions are recorded is called a blockchain.

Crypto is a safe, fast and convenient means of payment.

What is dalecoin and why you should get it too?

• Dalecoin is an ERC20 token based on the ethereum blockchain.
• Only one million Dalecoin tokens shall ever exist.
• Token is to be used for payment for goods and services.
.
I personally hate big grammar and ambiguous words. So, here are some entry from other great minds that will put you through the techie terms of dalecoin:
• @nairadaddy | the crypt trader's key to financial paradise.
• @diana01 | what is dalecoin all about
• @kayceefresh | dalecoin with its environment and why you should invest on it.
• @smiles563 | dalecoin to the future
• @onyechi | heard of dalecoin? Get in here and know
• @ebohio2008 | dalecoin, a crypt with so much difference

Let's focus on why you should get it instead...

In 2009, bitcoin, the most widely accepted cryptocurrency was developed and some embraced it and others rejected it. Stories that touches the heart followed. It left some in regret and transformed other from misery to fortune.
In fact, if you had $800 earlier this year, you will get 1 bitcoin for yourself and today it will worth close to $6,000. That is about 600% return on investment.

Dalecoin is a potential coin like bitcoin that is growing and increasing in value every day and I think it's high time we embrace this development and thank ourselves later that we did. It is just around $1 but the value keeps increasing every day.

It has several other benefits which I believe you will find in the links above.

Remember bitcoin was once less than a dollar.
Information is power and that is what I'm giving you right now.

Ignorance is what makes foolish people and wisdom makes wise people.

You can get free dalecoin for yourself if you think you've got what it takes to write the same thing I've written or something better. Here's a link to the @airhawk-project contest for free dalecoin:
https://steemit.com/airhawk-project/@airhawk-project/announcing-our-partnership-with-dalecoin-and-airhawk-crypto-knowledge-writing-contest-1