Welcome everyone I am very grateful to be back in this 6 week se tareas for the #SteemitCryptoAcademy currently we are going to talk about my own research on cryptocurrencies and Fiat currencies we are also going to talk about what currency exists in my country and under what laws they are governed. We will talk about several important topics such as the types of centralized and decentralized systems that affect the value of a cryptocurrency all in the network, why we can not all be miners, the types of skills that have to be taken into account for this. I hope this will help you a lot let's get started.

What is the fundamental difference between cryptocurrencies and conventional financial systems?

The fundamental systems of decentralized digital cryptocurrencies is to expand the speed of sending assets making them cheaper and easier to use many companies and corporations are adopting this system because it makes them faster and safer transactions of large sums of money compared to centralized financial institutions especially with the high cost and tedious paperwork protocol, plus you do not need to expose your identity which is very favorable to prevent further problems,

Another fundamental factor is that you always know where your money is, since the whole process is in the blockchain interconnected block chains that generate data and these are recorded by Eterscan everyone can see the transactions that are made in this way we can monitor our money.

As for conventional financial systems these usually have a single owner or majority in shares so the way to transfer or receive is quite expensive, plus the tedious paperwork protocol identity and you come plus you must always if or if you declare the funds you are using you never know where your money is if the bank is using them while you have them withheld we do not really know.

The traditional fiat systems are governed under stable currencies such as the DOLLAR EURO POUND PESOS etc are currencies that are used for each country and each country has regulations according to its national constitution that allows to keep total control of all assets that are within the country this bureaucratic actions are quite expensive for people unlike the digital cryptocurrencies that we are used to seeing.

2. Why do we need a decentralized system?

It is very necessary to achieve our total freedom and no longer depend on a country to control our assets but we must control in its entirety, it is from us. a decentralized system is needed to:

Improve the fluidity in terms of speed of shipments and resection.

More economical for users or investors

Allows full control of assets

Security is much more efficient than centralized entities.

It is not necessary to reveal your identity so you can be more secure.

For all these reasons it is necessary to create a global decentralized system that should be the future.

What affects the value of cryptocurrencies?

This question is quite relative so I will answer it in 2 ways

cryptocurrencies affect governments that drive bureaucracy, it also greatly affects centralized financial entities and centralized social networks currently many people around the world are waking up and realizing that cryptocurrencies are here to help the entire world population to break free from that great bondage total centralization privatized economy and the high costs that this brings to the financial environment thus improving the economy for the users of these cryptocurrencies.

the second way i would like to talk about is the effect that cryptocurrencies have on the digital ecosystem currently many people with basic knowledge of cryptocurrency are generating an important capital for their lives the value of cryptocurrencies affects the entire digital ecosystem that remains enlarging the capital that is held.

I also want to say something very important the news the fomo and fear are big problems or advantages that directly affect the value of a cryptocurrency the big influence in the different social networks with a simple twitter greatly affect the currencies such as BTC and teslas cars. so we have to be clear that the news create fomo to cryptocurrencies.

Why can't everyone be a miner?

To be a miner you need a capital and a fairly complex study in addition to the high costs of ASICs or GPUs today by the large Fomo and volatility of the current market in terms of this type of highly sophisticated devices that you can against thousands of dollars per device. you also have to determine the time it would take to recover the investment and the costs of electricity consumption that generates. many do not have these large sums to invest nor have the knowledge and adequate time for such purpose because you have to be attentive 24/7 of each of the miners.

To be able to mine you have to create small farms or large farms depending on your economic capital after taking the study of how much you are going to earn per day when you recover the expenses, the space that you are going to work and the time you are going to invest, you proceed to the assembly of the farms. Many people do not have this great special knowledge so it is very difficult for them to learn how to do it, there are many factors that are highly important.

Energy consumption

The hash of the miners

The cost of the miners initial investment

Time to collect the initial investment

Difficulty of the coin to be mined in the time stipulated

Knowledge in the software of the equipment.

In addition to constant maintenance

All this makes it almost impossible for everyone to want to mine. The more miners there are, the more difficult it becomes.

Why cryptocurrency transactions can be called more transparent?

They are really more transparent because there is no third party as it works on the blockchain network allowing faster transfers safer and without any previous paperwork you do not need to reveal your identity and this is one of the safest and fastest transactions that exist today. are fully visualized on the network by anyone we know where the funds go from which wallet out and which enter etc.

Explain how the cryptocurrency developed in your country.

In my country it currently exists ( The Petro token: ₽) its launch was in 2018 is a token that works in the ethereum block network it is said that each petro is backed with a barrel of Venezuelan oil in the hydrocarbons organization law in force in the country 111 in its article 9 specifies its extraction activities collection and transportation storage is fully reserved for the state according to article 302 of the national constitution and according to article 8chapter 2 section 2, it specifies contracts for the purchase and sale of oil futures worldwide.

Venezuela currently maintains an Exchange open for the sale of this token but not for the purchase of the token can be exchanged for BTC ETH LTC etc. but what I have clear is that the token is being sold but not bought so I do not understand that Exchange I have not bought that token nor will buy it for that reason.

The cryptocurrency in my country Venezuela are not blocked but mining if you need a special permit to mine BTC or any cryptocurrency in Venezuela currently the one who does not possess any of these elements and is caught red-handed is placed under court orders of the country in question.

Conclusion:

I have been talking in this course of my assignment about the fundamental differences of cryptocurrencies and centralized systems I made it very clear and easy to understand for all the people who enter my assignment. I also explained each of the questions asked by the teacher with my own words of research note that each country has its own digital currency or are implementing one, this class was of great importance because we realize the great value that mean cryptocurrencies currently also that we must have basic knowledge about it before operating them to take care of our capital and our economy to our environment thank you all for being always pending and support this task I hope you have liked and served to perform the activities for these topics.

Cc:
@leycore
@steemitblog
@steemcurator01
@steemcurator02

THANK YOU VERY MUCH