Steemit Crypto Academy Season 2: Learn About Cryptocurrency. @eulalia1202

* One of the great differences is the system used by each of these currencies, the conventional system differs by having a centralized system according to the regulations of each country, there are unlimited emissions of physical money that create a small inflation in many cases, as well as withdrawal control and transfer control, in many cases transfers are according to a schedule and an established amount. In the case of cryptocurrencies, they work with a decentralized system, where there is no control over issuance, there are no transfer limits, and inflation is managed according to the supply and demand of buyers and sellers, there are also no withdrawal limits.

* Speaking about transparency, I can say that cryptocurrencies is an openly transparent system since it works by validating transactions through the blockchain, this means that each transaction is openly registered to the public, only the transaction, without personal data or compromising information , every transaction is carried out through a sender's address and nothing else, it can be carried out from anywhere in the world in a very short time, otherwise it happens with the centralized financial system, that transactions carried out by one person, can only be seen by that person and the members of the administrative staff of the institution, when we need to make a transfer, we must ask for a lot of personal data and transfers between the same institution are instantaneous, but in the case of international transfers, it usually takes several hours to days .

* In centralized financial systems they act as intermediaries for user transactions since the institution confirms user data and verifies whether the transfer is real or not, in the decentralized cryptocurrency system we can say that it does not exist intermediaries, since you only need a wallet and open a transfer order, and when the miners validate the transaction, it is done instantly, many times you have to pay a commission for the miners to validate the operation, it is normal .

* Speaking about the security of the two systems, I can say that each one has rigorous user authentication methods to prevent a third person from entering the account without permission, but it is more common to see problems with identity theft and hacking of accounts, in the conventional financial system, already with the cryptocurrency system, this does not happen because it is in the hands of the blockchain, and computer algorithms which provide greater security.

* Another very important point is that in the cryptocurrency system, there are also centralized systems which are organizations that use certain rules of use for their cryptocurrencies, many times these are linked to stable currencies, and have the benefit of being backed by large entities for better control of their currencies, this centralized system in cryptocurrencies works through the blockchain in the same way as the decentralized system.

A decentralized system is needed to give all people worldwide the freedom to carry out any type of operation that they want, no matter what the amount is, or to which account or the location of where they are, since all this is possible. Through a decentralized system, most of the current wallets of the decentralized systems allow to exchange cryptocurrencies to fiat currencies of each country, through the P2P system, in relation to this the transfer time is extremely short, from a matter of seconds to 4 minutes Around the world, on security, they provide a very good security system which allows us to carry out operations without the fear of being stolen or hacked by someone or an identity cloner, decentralized systems have free financial freedom which provides many people the ease of use of its assets since there is no entity that regulates them.

The value of cryptocurrencies is affected by various reasons, firstly because there are millions of people who nowadays pay attention to the day-to-day news they make through social networks, many newspapers carry news that can play a role. enormous psychological role for many investors, inciting them to make a hasty bad decision, many large entities that have large investments are benefited by this news since some have super computers that can record millions of transactions and algorithms that allow them to make decisions according to his commercial strategy, one of the biggest current cases, is the case of elon musk, who can advertise something on his social network and puts many people around the world on alert, who act as his puppets, he uses his power to put launch your business strategy.

Another variant that we have to pay close attention to is that today millions of people who have become rich through cryptocurrencies are very viral, this has meant that each currency that goes on the market is acquired in small quantities by small investors around the world. world, through advertisements or news circulation, the value of cryptocurrencies is defined by the simple fact of commercial psychology, and the supply and demand of purchase of purchase and sale of a cryptocurrency.

In addition, other factors such as the burning of coins, market capitalization, how many coins are in circulation and how many coins in total they have, in addition to the project that the cryptocurrency has if it is attractive and can attract the attention of large investors, etc.

Not everyone can be a miner for the simple reason that they do not have the knowledge required for this task, since it depends on many algorithms that do an excellent job to validate transactions with different methods, many times they need specialized machinery to perform these actions, due to To this the cost of the same to validate transactions is extremely expensive, in addition to that you need a good comfort zone where there is no lack of electricity or the internet, so unfortunately if you do not have these requirements you cannot be a miner, in most of The cases are gigantic centralized entities where they have super giant sheds that have a large number of mining machines which many of these have power plants and others provide the opportunity for many people to provide their services for mining, but under the strict rules described. by the entity, as we see today, every day the difficulty of e the validations of the transactions and through this we need more sophisticated equipment where the previous ones are obsolete, therefore not all have the required capital or the knowledge to handle this equipment.

Cryptocurrency transactions are transparent since they do not depend on an entity that controls their issuance or their transactions, everything is carried out through an Exchange or a wallet, which plays the role of a decentralized bank account where we can receive and send our crypto assets, all transactions are registered through the blockchain, and anyone can verify a transaction through it, we can also say that it is transparent since you can send and receive any type of cryptocurrency from anywhere in the world, just as it does not exist deposit nor transfer limit, nor a rule that controls the entire sending procedure, in addition to the ease of making an exchange for another pair of cryptocurrencies, or to make an exchange for a fiat currency of each country, transactions are carried out in very In a short time, in itself, there is no entity that orders you what to do or how to manage your crypto assets.

I live in Venezuela, I can say that here there are no cryptocurrency prohibition rules, but there is a prohibition with respect to cryptocurrency mining, since the most common to see is the proof of work where it is carried out by consuming seaweed machinery large amounts of energy, the government of my country sentences with prison to those who mine cryptocurrencies clandestinely, in relation to the use of cryptocurrencies, a small percentage of people are those who handle this type of assets since it depends a lot on skills computer science and having knowledge in relation to cryptocurrencies, and there are very few who have it, since today there is a great economic crisis in my country and many of the people have decided to emigrate abroad, those who remain in the country they are only looking to work and have something psychological in mind that they say that cryptocurrencies is a very difficult process to carry out, so the managers and those who carry The reins with the cryptocurrency economy of my country are mainly the government, large entrepreneurs, and a certain percentage of small entrepreneurs as natural persons.

In Venezuela there is a currency called PETRO, which was created by the government to get rid of the sanctions that the United States has, for the illicit sale and purchase of oil worldwide, the government authorized the sale of oil in relation to this cryptocurrency, 1 PETRO = 1 gallon of Venezuelan oil, this helped them to get rid of many regulatory systems and especially money laundering. The Petro is centralized and is only used for internal payment systems for government documentation and for internal negotiations between governments.

Today the use of cryptocurrencies, whether decentralized or centralized, have become very viral since we can carry out clean transactions and make good use of our investment without any inconvenience, the security system is something that is one of the best, But this cryptocurrency system has become very viral in relation to money laundering, since it is a transparent but encrypted system without using names or personal data. But most people think, it is a very good system because of the speed it provides in your transactions and especially in its free management.