Cryptocurrency · Digital Assets · Blockchains · NFT's · Literacy For The True Crypto-Verse Beginner

1. Cryptocurrency · Digital Assets · Blockchains · NFT's · Literacy For The True Crypto Verse Beginner: Hello, good morning, good afternoon, good evening. Wherever you are in the world, I want to welcome you. My name is Thomas seen as Healy and I have created this course on crypto currencies, blockchains, and FFT's digital assets. Just for you, the beginner, beginner, beginner crypto, verse Explorer, you know, Bitcoin dropped in 2009. I don't know where I was but I didn't pick up on it. They in 2015 rolled around mere cubs each theory them, you know, these words, this language, this crypto speak that's out there. It was an actual barrier to me absorbing what was really going on. In 2000 AD app finally woke up thinking, what is, this is like learning a second or third language. And I think I've blocked it out. So for the last three years, I've been spending my time trying to understand exactly where all this bits in my life and my investment portfolio. And I've come to realize this is important stuff. And although as an economics major and an MBA in finance and I'm used to doing the quantitative versus qualitative analysis. And that's just not possible really when you have cryptocurrency with no numbers to crunch, you truly have to dive into the product. And so that's what I did. And so I want to bring all this information at all this knowledge to you and let you know that it is the vocabulary of cryptocurrency that stopping you probably from moving forward. I mean, think about it. See praise, gas fees, market cap, digital asset, while it 4k saw board, hard fork. Who created these words? What is this all about? So all of them by a goal of this course, is to demystify all of this for you. You are going to be fluent in cryptocurrency, NFT, these digital assets, block chains, and know exactly what all this means. Because of that, it's the foundation that you need if you are going to explore this asset universe. So strap yourself in a promise you, by the time you've finished this course, you will be able to hold a conversation with hands down on cryptocurrency. You will understand when you open up that newspaper, open up those financial magazines, you will know now what's going on. You're going to understand the various segments of cryptocurrency and you're going to understand the role of it. It potentially is about to play and is currently playing out in America and around the globe. So thank you very much for joining me. And this is definitely for that beginner student. You are going to learn all you need to know in terms of having a conversation. And I can't wait to quiz you through the, you know, the length. Of course, as you can see, I mean, I just gotta get some water. I'm so excited that I don't even know what to say anymore. So jump in, jump in and join me on this journey. See you in the next lecture. 2. Part I · Vocabulary and Concepts · Cryptocurrency · Digital Assets · Blockchains · NFT's: Hey, welcome back, it's time, Athena, and Yup, I got my water and that's true. I'm sweating like this has really been excited. Anyway. I've got my notes, so let's get started. This is the section where you're going to learn all of your core terminology for cryptocurrency digital assets in FTEs and blockchains. All right, Let's get gone. A digital asset. And again, I like to create triggers. Digital, simplest term, cane touch it. And now it's going to be a little untraditional. But this is the way that you're going to remember these terms. So as you're opening up your financial trades, Forbes, Fortune Magazine, Wall Street Journal, Financial Times, and you see digital asset. It can be a digital asset. You'll bank statement when you receive it electronically is a digital asset. So digital asset is just something that's stored digitally. How about that? That's it. Digital money. There's that term again, digital. That means you can't touch it. That's your trigger. What's a digital asset? Became touch it. It's anything that's thought digitally in air. What's digital? Money? Can't touch it. It's there. It exists. Cash. You can touch it. Dollar, touch it. Euro, you can touch it. Real estate, you can touch it. Those are all assets. You can touch. Digital asset. You can't touch it stored somewhere. Next, What's a wallet? Well, while it is exactly what it is in real life, okay, and cryptocurrency language, while it is where you store your cryptocurrency. In real life, your wallet is where you store your money. See how either this is going to be. So wallet, a digital one, but it's where you store your cryptocurrency. That's all. Okay. You have no physical access to it. What's cryptocurrency? Clo repetition here. Cryptocurrency is a digital asset. Where do you store your cryptocurrency in your digital wallet? Too easy, right? It's a digital currency used to buy goods and services. And that's where you're going to be doing your research because later on you're going to now be taking this information and digging deeper. So now you know digital asset. What's a digital asset? It came to touch it name a digital asset, cryptocurrency, electronic bank statements, anything you can't touch was digital money. Cryptocurrency is digital money. What's a wallet? A place where you store your cryptocurrency. What's cryptocurrency? A digital asset. Let's move on. What's a crypto asset? The same as a digital asset. What's the digital asset? Crypto currency like, Okay, what's a token? A token is just another word for crypto currency. See how they try to compare. Because obviously I've also did the same thing. They come up with all these words allowable me the same things, but they say it different ways. And then you'd have to seek out an expert to figure it out then and now you're turning over your money two minutes part. Not doing that. You're going to understand the language of a Feizi. Oh, I have 20 tokens. What are tokens? Digital assets. Did US cryptocurrency. Token cryptocurrency saying, okay, what is a polling? What's a coin? What's a coin? And in real life, yeah, $0.10 or 10000 team in France, a euro, a cooling hard currency. You can catch it. What are the digital value of a polling? Where does the coin live? Some blockchains have different names for coins, bit coin. Mostly. A point in that crypto universe is just that unit of currency, Bitcoin. It's a coin. Ethereum is a cooling. That's what the token. Cryptocurrency. What is cryptocurrency? It's a type of coin. What is Bitcoin? Bitcoin as a cryptocurrency, it's also a digital ask that he exists not in your hands, but up there somewhere. Okay. What's the block chain? And I love this one. I had a group of 13 year-olds I was talking to about cryptocurrency and this new thing. And they were struggle in trying to understand. And I said, You know what, a blockchain, that's where digital currency sleeps while it's waiting to be treated. After it's created. It's gotta live somewhere. A digital current that their house is called the block chain. That's their home, That's where they live. So I want to thank the same thing to you because when I gave them a quiz, those 13-year-old, I said, where does Bitcoin live? And they set. 13 years old. Well, because you got the image. So that's all about chaining is I'm going to read it to you specifically if a network of independent but connected blocks of a D, centralized computer network, block chain, one Bitcoin transaction is added to the block and then verify on the block chain and then he just sit there waiting to be treated. Block chain where they live. It's where they sleep. Cryptocurrency. Every cryptocurrency that's created has to live somewhere. So I guess what each cryptocurrency out there all 15 thousand of them. They all live on a where where do they sleep? On the block chain, that's really sleep. And that's where they get verified. That the block thing, What's a block? The block is just one of those sections. A computer file on the blockchain. Do you need to know all these terms? No. But I'm sharing them with you because it's the language and it's a language you will now be able to have with your financial advisor, whoever is helping you manage your money or in your own personal life, block, little section of that block chain. Listen to this. A block as a computer file that keeps a record or ledger of crypto currency transactions during a given period. One block in the Bitcoin on the blockchain, see, a block, block chain is worth X, Y, Z of a cryptocurrency nap or you can fuse at this point, no, I haven't done anything to confuse you. Digital assets, sleep wear on blockchains, cryptocurrencies, sleep wear on blockchains. What's the BOP, one little segment of that digital currency sleeping on the block saying, Okay, Now take that word bitcoin. What's Bitcoin? A cryptocurrency. What's eat theory, and a cryptocurrency, where do they sleep on their individual block chains? You already know more now than 50 percent of America. Let's go distributed ledger. What's that had distributed as just another name for block chain. You can check that on. You may never need it. But just in case you hear about a distributed ledger, you see how they tried to confuse us. This is why APA, it cost me money in 2018 and wanna do all this, but I should have it cost me money. All right, What's the block height? Block height, the total number of connected blocks in the block chain. And I'm going to put these in your notes. You're going to see these in the resource section. What's decentralization? Well, you know what centralization is? Governance? Centralized system, air by again their hands and everything. So what is de-centralized? Guess the road money de-centralized. The principle of distributing power away from a central point. Centralized. You're bringing Bower to a central point. When you have a de-centralized block chain that is an oxymoron because blockchains are designed, crypto currency is designed to be D, centralized away from us Center, okay? Beer to beer. Well, that's the same as network. And in the United States, I'm having a peer to peer network based payment. Well, think about that and cryptocurrency, that's direct networking between two computers, each one of them without a cent dry. Last third party with that goes without saying because cryptocurrency is what de-centralized. Okay? Peer to peer decentralized networks talking to each other. What's a protocol? Well, you know, if you're participating in a protocol and National Institutes of Health, or they're doing a protocol and a new steady COVID vaccination protocol, setting up rules and regulations. Same in cryptocurrency. What's the protocol and cryptocurrency there? They're creating, they're creating new, new, new blocks, new decentralized a div, creating something new. They're studying something new. Protocol algorithm you learned in seventh grade, a mathematics term. What do you think it is? Is it's a recipe, it's a formula. So our algorithm, even in the real world, is easy to understand. Oh, what does the algorithm for? Blah, blah, blah. Same in cryptocurrency algorithm, a formula used to generate keys crypto currencies rely on algorithms formulas so that they can work well on the block. Hey, encryption, same as an everyday conversation. You know, that's something that's tight. So when you encrypt something, you can't get into it. Okay? So encryption is just a type of legible texts. They put an embed into that cryptocurrency so that you can get it in there. It's also known as cryptography. Okay? The origin of cryptocurrencies begin with cryptography. Cryptography, cryptography. Then they do a number on it. This vocabulary. What's a hash? We all know it has hashtags are, take it a little further. So I hash is just a string of numbers and letters to verify a submitted transaction on the Blockchain. Thomasine is guaranteed by theorem. So by Theorem, boom, my hash is created and now he has to verify my transaction. Hash is what's a hash rate where you know what right is. Where does the rate of speed, rate of lightning, the rate at which a rate of nothing but a measurement of speed. So a hash rate is going to be the rate of speed at which this transaction is processed. Rate go with the context clues. T's. And you then I gave you four multiple choice answers. You had to eliminate tooth because they weren't going to work. The other two youth use context clues. Well, that's how I got through all mine literacy for cryptocurrency. I use context clues. A rate is a rate is a rate. It's something you can measure, okay? What is a public key? As it relates to cryptocurrency? That is a string of letters and numbers that identified your wallet. What's a wallet where you store your group do occur on the blockchain. So i, public key is your less like a word. Just like your address on your bank's Daimyo rubbing numbers, public key, routing numbers to your wallet on the blockchain. Yeah, I was just getting repetitious here. What's a private key? That's the password. With your debit card. Use that password. That's a public key and cryptocurrency speak that is a private key, a string of letters and numbers that lock your wallet when you're reading, you never share your private key. Just like good, never share your pin. Now you can see why duct in 2018, we must then brought all this to make. My brain was not ready for this. And he's reading that what the seed phrase SegPhrase a bizarre term, but it's a 12, 18, or 24 word phrase that you only have access to, which act as a backup to your private key. Now you know, you know, Google makes you do all these. Give us some different phrases in keys in case you lose your first bath words, we can come in and authenticate you use and someone else. Same in cryptocurrency, Yossi, That's that private praise is going to unblock that account for you. You never shared and you'd never share your private key. These are all terms you learn a new language. Get on board. I'm going to be quizzing you. What's a wallet? Again, use your quiz while I do the file in the blog saying that receives or cryptocurrency what's in your wallet. You know that V is a commercial law that nothing significant here. That's just where your brand is, that's where your money is. That's where your cryptocurrency is. Can you touch cryptocurrency? Know why? It's a digital ads that it leaves the outside in the universe. What's a hot wallet? Well, just the term alone should tell you something, hot versus cold. While I don't hot wallet, you connect it to the Internet. You get it's convenient, it's quick. Uh, you know, there are more susceptible to hacking. It's hot, it's open, it's connected. What's the code while it is all VLAN? It's offline. So this is the kind of law that protects your crypto hacking. You're gonna keep your wallet hot or cold. Now you know, if you turn on the hot water, you stick your hand and you can pull it out quick. So think about that in terms of your wallet. You don't want your while it would be hot. Don't connect your wallet, your crypto wallet to the Internet. Keep your wallet, coal, keep it on ice. Because this fun mining, there's a turn mining. Well, that's like the gold rush in California. When you imagine if a goal, a man at the diamonds, you look up a sum num, well, guess what it needs and cryptocurrency mining, you are creating new cryptocurrency coins, coins. What's that big going? Ethereum, they're all coins, tokens, um, mine at the new tokens, if somebody tells you that there it is, look up the new. Here we go. Transactions that are being verified. Groups of computers. I'm going to read this to you when all the computers on the network except the transactions, two things happen. A new block is added to the chain. Oh, what's a block? We talked about it as a section on the blockchain and a new coins are created and add it to the block. That's what mining is, new coins and created new coins are verified, new coins are added to the blockchain. Every cryptocurrency and its own private blockchain. So when you need go mining for a specific cryptocurrency, they're creating new coins. What's the consensus? And that's the same thing with here, a PTA or run if all bits are just talk into your friends and you're looking for consensus, you have a component of agreement. So that's the same thing. The consensus is an algorithm that's in your cryptocurrency that's looking for an agreement of verification. You must make sure what's happening is real. That's all consensus is. What's a mm, pull ME M POL, I don't even like this word. That means sound good. But it's a collection of verified and submitted transaction sitting there waiting waiting to be confirmed and verify and then added as valid blocks. Look technical rank. You don't really need to know that to start trading cryptocurrency, but at least you know the word proof of work. You're going to need to know that proof of work. Well, that's anything I need proof that something is true. How are you going to prove it in a digital asset? Maintenance, it gotta go to that computer, is going to prove something for you. A protocol or algorithm. That algorithm is going to think about him banking at the end of the day when they have to count that much. Some type of algorithm is confirming the amount of dollars that were deposited that think that they same with cryptocurrency, proof of work. This enables multiple computers in the blockchain to compete to mine blocks proof of work, the first community, the first computer, Mine's the block. He must prove that it used a certain amount of energy before the new block can be accepted on what blockchain. And that gets a little complicated. That's not to put you to sleep. Let's go to proof of authority. Another algorithm, proof of work, algorithm, proof of authority and algorithm. What's authority? A trusted source. What do you think that is with cryptocurrency, a Trusted Computer. Context clues, proof of stake algorithm. You now know three algorithms. Proof of work, proof of authority, proof of state. Here's another one for proof of activity. All of this is verification, verification, verification. That's all you need to remember them. Proof verification. What is an NFT? Here we go, non-fungible token. They have name this something else that they really have to do. Non-fungible token. Here we go, pure definition, a file that is stored within a block. A block is section on the block chain which cannot be copied or replaced. Every NFT non-fungible token is unique like a fingerprint. You hearing a lot about NMT is right now. In terms of digital art, was digital art something you came to delegate digital asked that what's a non-fungible token. Okay. Here we go. It's like a fingerprint. It's a unique identification to something non-fungible tokens are a kind of crypto asset. Remember, we got crypto currencies. Now in a T's are crypto set, which is also a Digital and set. You will never touch it. You will never see it. Every time you'd say the word digital Udot is floating around in the universe. So an NFT most often are held on which block chain? What's a blockchain? That's where cryptocurrency list most enacting these non-fungible tokens are held on the Ethereum blockchain. Why? Because instead of, because they only want a few people we sit in on their Blockchain and guess what? It's Party of one, only one person go sit on the block chain for Bitcoin. And that's bitcoin. If I'm on the other hand, they're like, Come on, come on. If you create any type of digital asset, we can try to make it compatible with our Ethereum network, which is why there are a lot of people out there, say within a very short period of time, I don't know how many years. But they think Ethereum, the price of it Theorem is going to surpass the price of Bitcoin because Ethereum has opened its doors for so many more applications. Bitcoin, the doors closed, upgrade on our platform or you don't barium the doors open. Where you think I'm invest in a few dominance and Bitcoin or Ethereum, mostly theorem and the theorem type products because I think they are indeed that then next future. Okay, what's the stablecoin? Well, the word stable, that just means steady. So stablecoin is something that's TI, because something's steady. Us dollar, the euro goal, a stable coin means it's stable. It's not going to go up, it's not going to go down. So you can research more about stable coins. What does a node that's uptake term are known as the computer that's part of the block chain. How many nodes are on a block chain? Who knows there's a whole network. Every block chain is different numbers of nodes, but that's a word for you. What's a faucet? Think about water. When crypto universe, a faucet is a reward system for you holding that cryptocurrency. So it's a reward system. So some cryptocurrency saying, Hey, if you buy us, if you hold us, we'll give you x, y, and z of cryptocurrency extra. Just return us. That's the faucet. Okay. What's a whale? And cryptocurrency universe? The famous Vegas was a whale allows Vegas. A whale is somebody I've got a lot of money. They do a lot of gambling. They went on a lot of money away in big, same in the crypto universe, a whale is a person who has a significant chunk of digital assets, specifically Crystal. Crystal. 3. Part II · Vocabulary and Concepts · Cryptocurrency · Digital Assets · Blockchains · NFT's: Whale as a person who has a significant chunk of digital assets, specifically crystal correctly crystal crypto currency, that's a way of what's a nonce, a random number it has used only wants to verify a block. Oops, what's the block? Little section on the black chain, that new unit. So a nonce, random number generated only one time just to verify block. When a block is submitted, a nonce is a dashed. Once it's confirm boat, that's a new block, then it's added to the chain. Smart Contracts need noticed. That's a piece of code that lives inside. It's like your heartbeat, lives and sad. This inside the block chain whose purpose is to execute that logic. The developer who created that blockchain has put that smart contract in there and it can do whatever it needs to do. It can be it can be programmed to make a payout at a specific trigger. It can be programmed to do this, that this blockchains, smart contracts know those words because that is the foundation of cryptocurrency. Smart contracts or the wave, that's the wave of this whole digital asset universe. Study up on smart contracts. It's essential that is such a piece of code that you are going to want imbedded in your cryptocurrency to control what it does. Smart contracts, you've got big companies like Stripe and sway at how they're creating block chains of their own. They're embedding smart contracts to process payments. So we'll smart contract versus weren't dumb contract. But a smart contract. That was the word baby that till that code. What to do with your currency on its way to the sleep block chain. Next, Solidity programming language that's used to create. In theory, I'm smart contracts, solidity. You don't need to know that Oracle, a piece of code that takes this data from multiple sources, didn't know that Shane linking the process of linking two different bit BAB block chains. For example, Bitcoin, any theory and how you got to link them to different blockchains. The Bitcoin block chain got the theory and block chain. Every cryptocurrency is sleeps on a different block chain. How are you going to connect 15 different blockchains by chain linking, what's a block explorer or what's an explorer? Context clues. They go out there seeking, searching at the search engine. I think there's just a Serge and Nicole Explorer or the nip networks often explore. There you go. Explore a block explorer Search Engine enables you to participate in blockchain transactions. Okay, what's an Altcoin? You'll hear this a lot. Altcoin where you know, bitcoins a bit of a snob and he barium, seconds knob. So they call everything else after Bitcoin and Ethereum. Altcoins alternative, just like when you're thinking about music. So I'm into alternative music. That's what an alt coin is. Now, Come on. Why would you give all everybody's cryptocurrency, but why would Bitcoin and Ethereum take the crown and let them be the number 10. We're just so cool. We're the ones that's goal of a major coins. Everybody else's an alternative coin or an alt coin. So now you're going to know Bitcoin Ethereum coin, Altcoins, that's the name of law, the others, auto car data and you've got thousands and thousands of altcoins. What's that stable coin? Stable round peg in that coin to something stable like what? The US dollar. And recently people talking about gold, they're creating stable coins. Gold, UK. So Bitcoin, Ethereum, alt coin is all the rest. And what's a stable coin? It's picked as something staple. Next, what do we got here? Decentralized finance. All right, That's speaks for itself. Centralized finance, somebody is overseeing it. Decentralized finance know about is watching the game. Get ready because that is the whole universe there. Crypto universe is a decentralized market. So decentralized finance, think about that is based on blockchains that getting verification from outside sources de centralized. Let me read you specific a financial service that is based on blockchain and relies on smart contracts. What are smart contracts? That's code that's written in the blockchain to facilitate access to financial and banking services, smart contracts, de-centralized financing. What am I hearing here? I think banking, go start getting worried a little bit. Yeah, you're going to be hearing this. In banking. Big banks are getting a little nervous with these decentralized financial transactions. But guess what? They're common, they're here and they're about to grow. Search crypto currencies. Google that crypto currencies that were created for D, D hyphenated five, D, centralized finance. See what comes up. They might be the ones to watch, put them on your watch list. I'm never going to recommend anybody overly invest in cryptocurrency. I just can't in good conscience. Bob and I recommend you invest in an unregulated industry and that's just crazy, you know? But if you're of that elk, where you want to do a little bit more but your money, don't erase an edge and figure it out. D Phi big industry, I think it's going to just blow up over the next few years. So I'm definitely interested in that exchange. That's the same, that ending at the New York Stock Exchange, the American Stock Exchange, the Nasdaq and exchange of money between two people. That's all it has is a website that enables you to exchange cryptocurrency for something like dollars or euros or Coinbase at CSU I have that's one of the popular centrally. It's Cryptocurrency exchange, coin-based made history. It's the first cryptocurrency exchange to go public. They are traded now on the nasdaq. Can you believe it? Nobody would have believed, not even six months ago, a year ago, two years ago. Can you imagine a crypto currency exchange is traded on the nasdaq current price today, $255 a share. Who would have thought the normalization of cryptocurrency has begun and that we're going to end and y as my nose itching so much, somebody must be coming. I think that's what my grandmother would say. Coin. Let's talk about this. I'm just going to read it to you. It was the first cryptocurrency launched in 2009, the first ever crypto coin, creative, if the most valuable, the largest market value Bitcoin is the elephant in the room at this point. Okay, created January third, 2009. So there you go. Bitcoin is the mother lode. Everybody else is chasten. Bitcoin. Does Bitcoin her footsteps? Not yet, but I think soon. Okay. What's having HA ALVINN g having two? Well, that was code that was written into Bitcoin. Bitcoin has a limited distribution of coins. And so they decided, hey, we are going to cut our number of coins is out there in the universe every four years. To keep the value high. Think about it. Limited supply had become a smile. So they do this thing called having every four years, it's just built into the block. So it's automatic. So, you know, bitcoins going to stay mounted up next SATs, and that's not an exam, SEX, that's the smallest unit of Bitcoin. It was named after the image and creator of Bitcoin, Satoshi Nakamoto. So whether that's true, that we don't know, Bitcoin cash, that's a peer to peer groups. You've heard that. What's peer to peer? Person to person. So Bitcoin cash, but let's get going. That's an electronic cash system that was bomb ever 4k. Uhd. We're going to talk about that later. What's a book? Or you already know something split in Bork in a row. Context clues What's a fork with cryptocurrency self and split off bitcoin cash split off from Bitcoin. What's a theorem? That second largest cryptocurrency, I think they've popped out in 2015. Barium is a crypto network, a software platform. It can be used for new applications. It goes beyond the basic functions of a Bitcoin. That's why you, barium appears to be the one to get cryptocurrency. What is Bitcoin a cryptocurrency? What does bitcoin a digital asset? What's a digital asset? An asset that exists on the block chain. You're getting it. What? Iit there. Oh, that's the unit. I'll be Theorem, an IEP, but the native cryptocurrency, what the smallest unit, unit of ethereal? You don't really need to know that, but it's called a G W. I greet the smallest unit of ether. What's a smart contract? Contract? Here's your quiz and algorithm program that NX the terms of the contract automatically. It's programmed into the cryptocurrency blockchain. It's programmed in that automatically reacts to what it is required to do. Smart contract. What's it? I see oh, well, you know what IPO is? Stock market initial public offering. What's an ISP of Initial Coin Offering? What's a coin? Cryptocurrency? So an I C, O is an Initial Coin Offering. And yeah, I remember, you know, the stock market, cryptocurrency market, although they operate very similar, very different thing about the stock market. Monday through Friday. The stock market opens in the morning and closes at the closing bell at the end of the day. Cryptocurrency market? Yeah, I'll sleep. He operates 24 hours a day, seven days a week. This is why the volatility is so much greater and the risk is so much greater, at least the stock market has a beginning of the day and the end of the day. Cryptocurrency, all day loan currency is turned in. All right? What if the gas B, you're going to be hearing a lot about these, what do you know if you go to the pump, you pay for gas. So I'm going to read this to you. The gas B is a B that the miner, what does a minor? A person looking and creating new coins. What's the Coin? Bitcoin Ethereum. Be the minor errors for verifying and submitting transactions on the theorem network to gas fees. You're going hear a lot about that because people complain. Gas B is do well in real life, the gas is to have it same on the crypto universe. When you trade with the theory and cryptocurrency, sometimes you get a pig as the AFB. Be aware they do more research on that. You want to try to find platforms that have low gas fees. All right, What's digital goal? Bitcoin is commonly referred to as digital code, is just a term they gave Bitcoin because they still had matted. They call them digital goal. What's a decentralized app? These are apps or programs that run on a block chain outside the control of a central authority? Did we really have to say that we kind of know what these centralized me now you've gone rogue. So a dApp or decentralized app, you're going to read about these, you know, think about it like synchronous. You make a post on Twitter. In it. Twitter was a dApp what the message was posted, it couldn't be deleted. But Twitters and out of the app, Twitter can delete Joe post with the dApp. You can't delete the post. So df decentralized finance activities, they are complete it using the apps. You cannot delete a transaction. It's like, you know, like good or bad. With finance, That was good. It wasn't my delete in a transaction, I just did. I got it. What I've done. Dx, Google them, study them. There are cryptocurrencies that create the apps. They're going to be something that's going to be needed for smart contracts. De facto as come on, You're getting there, look at all of these segments. Of course, here we are. A fork is a split. For example, it is a split that occurs and the blockchains algorithm with an algorithm that formula. So now here's the block chain. Here comes a fork. You got a hard fork and you got a soft fork. The fork and the permanent update to the block chain bone change, permanent. The blockchain has changed. Soft fork. That's a permanent change in the protocol, the protocol, the phone. So a requires the computers up their stuff where it does not change the block T, a heart Borg changed the block chain. Completely different. Now everybody's got to get on board. Now, the old block chain has gone and got a new blockchain, hard bore, sock or it just changes the software, you gotta update. In that market capitalisation. We know that market cap where there's thought bond mutual fund, how much does that baby worth? Same cryptocurrency. You're going to look at the market cap. So I'm just seeing billions of times, you see millions. We've been looking at, look at, look at bitcoins market can look at the theory as Margaret Camp, compare some of the others. Huge. Okay, The flip running, you may hear that is that such a bizarre turn the clipping and all that means is the expected date when it thorium overtakes Bitcoin in terms of market capitalisation, there are people out there with their crystal ball saying he theorem is going to overtake Bitcoin with the lipid and that's going to be the date. The weather is 2022, 2023, 2024, January 11th, 2020, and six, that may be the day of eliminating when the two. Flip places from the market cap or value. What's an exchange here? The quick way is exactly a website where you buy and trade cryptocurrency. What's an arbitrage? Yeah, buying cryptocurrency on one exchange and selling it for a higher price in another exchange. They got that going on in Wall Street to arbitrage. What's a stable coin quiz? What does the peg to? 32 seconds? The US dollar, they will collide. Stable, stable, picked a goal ED crypto currency that's paid to Bitcoin, a stablecoin. Is it theory I'm unstable. Go ahead and look. They're not pegged to the US dollar. They go and rock and enroll and you've got designated stable coins. Google it, which cryptocurrencies are the best stable coins to invest. And you'll have some expert, give you an idea and the new research it from there. All right, what's a main coin was the biggest mean going out there. And doggie, doggie though he mean, I don't even know why they created. It was created as a joke, but it does have a high market cap. People still invest in it. I don't really see the point in me. I don't know. I have come to realize I'm investing in cryptocurrencies that have an underlying fundamental purpose. I don't want to invest in crypto currency trading, blah, blah, blah button. No. I need to know, is there a product embedded in that cryptocurrency? Is this a product then enables you to create better smart contracts? Is there a product involved in this block chain, this crystal currency cryptocurrency that helps me create decentralized apps. Is there a product embedded in this block take that helps me use this cryptocurrency for gaming, sports gaming, buying. And in FTEs, non-fungible tokens, I have come to the realization that there is not a product embedded in the block chain sleepin currency, not investing in you. You can do your own research. Dollar cost averaging. Yeah, that's buying a little here we have the price change by a little care averaging the price she paid by a little by little. It's just averaging your investment staking and that's a good thing to do. By a little bit at a time when there's cryptocurrency and see where it's going to keep a close eye. Don't do like me go to sleep. Three years. Keep an eye on staking. That's a way to earn rewards for holding cryptocurrency. I think staking, I'd subbed out this. I hope you take this quiz. You can earn 10 Bitcoins that take the quiz. Oh, if you do this, you're going to three. The pairing when I take the quiz, staking is just earning, earning points is like getting points for using your credit card. All right, what's the candlestick chart? That's just the type of chart they use to show you positive or negative market movement of a cryptocurrency candlestick almost at Candlestick Park. That's Alexandra. Let's go candlestick charts. Okay, that's what that is. What's a coin mixer? Contexts, clues come up. A software that makes Bitcoin transactions anonymous and untraceable. It achieves this by taking one and transaction, mixing it up with others than sending it back to the owner on a different address. That this sound a little shady going mix. I don't know if I like that, but that's a term quiz. What's an ICO? Initial Coin Offering? Yeah, that was when new cryptocurrency is a cryptocurrency is about to come to market. What is Anti Money-Laundering? That's not just cryptocurrency, that's policies and legislation created. Do I do next with banks? All three. At some point, it's going to apply to cryptocurrency. We got to figure out a way so that you don't have money laundry going on with these digital assets. And how easy is that for a digital asset to be used for money laundering? Wow, so you know, that's going to be regulated. All right. Know your customer k was the not KFC KYC. Know your customer as just a procedure to verify the identity of the crypto user that's linked to their wallet. What's a while it where you keep your cryptocurrency, KYC, know your customer verification. Are you the person that belongs to this wallet? What's your private key? Who were just see phrase, these are all things. Is there going to be asking you, I need to get back into my crypto watch. What's your private key? What's your seed? Praise that show back-up off at that, I'll put boot off the patient authenticate to mount that was enough to authenticate see phrase. You got it. Now, what's double spin? And attempt to send the same payment of cryptocurrency to two different wallets. So I know it's criminal. What's escrow? As just like a real thing. That's when a third party blockchain holes the funds while you are doing something and making a payment was easy. Everybody. It's like when you buy a house you need a closing attorney. Was HOD ALL hold. Stay is hold on for dear life and cryptocurrency. Pay on. It has a history where it was a misspelled word. Wanted me to just took hold in the industry. He meant to write HO LD hold, but as David he reached a 20, wrote h focal DL. He created this funny thing, hold on for dear life. Well, it's applicable if you're going to invest in crypto currency, hold on, daily life because it's going to be arrived. We already talked about FOMO, fear of missing out. You can let that go now look at you, look at you, you've got terminology. You can talk about what are the bull markets same and the stock market even roaring, what's a bear market? Same in the stock market, not so good. It's exactly the same in crypto currency. You're going to have bull markets, you're going to have bear markets. I still am from the old school. By on the bear. I sell on the blue. So, you know, I kind of liked it when I see reading, I buy more. I don't run away from it. All right. What's pump and dump? That's the practice of buying a cryptocurrency enlarge quantities just to drive up the price and then sell. They do that on Wall Street with stocks all the time, especially penny stocks. Same concept. What's the shill? Anybody who had been allows Vegas know what issue is, but that's a cryptocurrency terminology. Someone who promotes an alt coin. Notice I didn't say bitcoin or theory him, but one of those good Oh, Jen eric Altcoins, one of those 15 thousand other currencies so that they can personally benefit from it when the price rises. So the, she'll die that up. Don't bit and that's another term, the pump and dump. Okay. You pump up the price and then you dump it. You see how some of this is parallel to Wall Street, some of this is parallel to stop. What's a bear market? Again? That's a market that's, prices are falling. What's a bull market? Prices are going up. Don't chase the stop. Don't chase a cryptocurrency by with dollar cost averaging, What's that called? What is that? Buying a little at a time? What's a bag holder? I think that's a nasty turn. And investor that holds a coin that's worth significantly less than they paid for it. Well, you know the term, he was left holding the bag. Same thing. That's a bag holder. What's cut tip capitulation? Well, think about it. You're up on trial, you can relate it in front of it. Then the attorney, the prosecutor saying things selling a crypto currency at a significant loss due to the loss of hope, I've lost all hope. You've capitulated of Moscow. Hope I'm selling my cryptocurrency. Well, not me. I'm going to stay in it. Like I said, I'm 64 about to turn 65 January 2022. So I've got a three to five-year window where it will keep an eye on my cryptocurrency. After that, I'm hoping for the best. What's whitepaper? Like a thesis, that's a document that potential users, blockchains and cryptocurrencies. Are you going to want to study the white paper and every single cryptocurrency as a white paper associated with it. And that's just an overview of the company, how we started, who the founders are, what we're doing, what we're building. Who are investors are the white paper. What's the market cap again quiz. That's the value, the value of cryptocurrency. Okay, what's a genesis block? Genesis, we'll think about the Bible, Genesis, that's the first verse of the Bible. Well, if the first block of a block chain, and that's helped them, genesis block, the first block. And what's 51%? Attack refers to a computer or a group of computers that have the ability to verify more than 50 percent of all transactions on the network. As a big network, this enables them to reverse transactions, spin coins at once, manipulate blocks with added and not, That's called the 1%. I don't know. You like that. That's a lot of controls starting to sound kinda centralized. But once you get busy wherever that. And then just a little bit of trivia. So butyrate is the program or who invented Ethereum in 2015 and M, creator of Bitcoin, Satoshi Nakamoto. No one knows their true identity. No, we'll come forward and say they created Bitcoin. It has been a mystery and an enigma. Everything that's the day it launched. So wherever this man or woman is, they have truly change the way the world will be functioning in decades to come. In on that note, you have a whore core literacy of cryptocurrency. Again, I've put this in the resource section so you'd be able to reference it. And now let's go onto the next lecture because I'm equation a little bit now. See you there. 4. Verbal Q & A · Quiz · Rentention · Cryptocurrency · Digital Assets · Blockchains · NFT's: Hey, welcome back. With that now pond or what? So this is that Q and a buck with Ubuntu. Boom, just want to see what your retention rate was. Easy quiz, I think you get it. You can connect the dots at this point and figure out where crypto assets sits in your vision for your future investments or however you're going to be growing your financial portfolio. So here's the quiz. All right, we'll start from the top. Let's a digital asset. What's the trigger? Content that's stored digitally? The right digital asset content that's stored digitally, not just cryptocurrency, but content. Grass, images, bank statements, and digital asset is just that. It's stored digitally. What's a while at a digital wallet, what do you store there? That's it. Your cryptocurrency. What's cryptocurrency? That's it. A digital asset. What's a token? Dad's it up Digital Asset. Name two tokens, Bitcoin, Ethereum. Good job. Okay, token, I love that word. What's a choline? That's what's meant it and copied it. That's a crypto currency of coins. What's the blockchain comma? Let's just call that a bit. And that's where crypto currency sleeps. And that's what a blockchain is. That's where it's six till its trade it block chain. What's the box height? You'll need to know that this is the number of blocks and unblock G. What's Decentralization? You need to know that centralization. Decentralization. I read it to you. Okay? That's the principle, distributing power away from the source. Centralized, decentralized. We got some government structured like that. What's peer to peer exactly versus deposit or computer to computer. What's an algorithm? One more, give me two. Formula or recipe. Algorithm. It's all, what's a hatch straying about are the numbers that verifies a crypto currency transaction. What the public key? Public key. Private key with the property. That's just your account number, like your routing number at the bank. But what's a private key? Exactly. That's like yo pin at your pin number. What's the seed phrase? That's that next level of authentication. See Fridays, what's a while? It was two types of wallets, crypto rods, and now connected to the Internet Coke offline. You get it there. What's the proof of work, proof of authority, proof of stake, proof of Activity 1, wearing one of those algorithms. Basically, the agent needs to know the detail, detail, detail. You can Google that if you want to. But those are all just fabrication, fabrication, fabrication as you are finding for what system to be so de-centralized, they certainly do a lion's share of verification. What's mining? Mining is the process where new cryptocurrency coins or may made available, just like the gold rush in California. What that NFT, that crazy term, non-fungible token. What's the core essence of that fingerprint? That's just the registration of homeownership. Just like remember, we used that to register our websites and we go to several different places. All I want to read your www dot blah-blah-blah dot com. In empty fingerprint, you are registering your foot. You're registering your what your digital and digital assets can be, what are or paintings can be allow things, tokens. But NFT, you are registering your digital fingerprint. That's it. So when you hear that term now, non-fungible token, it trying to trip you up, you know, honest SR registration service had to shows ownership. You got this. Now what's a stable coin? Context clues, stable, but they take it to two things. What's the stable coins? What's a crypto currency that's a stablecoin going to be pegged to the US dollar or euro, or go, good, good, good, good, good. What's a whale? That one, That's just not a person that owns that time, a time of cryptocurrency. What smart contracts, what were its code? Its code that's built into the block chain. It tells it what to do. You'll hear a lot about that. Smart contracts, just the honest, just code. It's just programmed into the block chain people and be like, well, you know that because you now are literate in crypto speech. Okay? What's chain ligand? Exactly. Linking multiple block chains together. All right, What's the Altcoin? Anything other than what it going but for barium Snopes, the two Snopes. I wasn't deep back to Bob. This is important. De-centralized last finance who will be using that in a future? Amount? Banks, Wall Street lending, deeper finance, what does these damp or DBA D, centralis, which means what? You, there's nobody in the middle baby. There's no centralized situation, is de-centralized, no intermediary. Nobody is in the middle. What? Coinbase? Coinbase is exchanged at a place where you can buy and sell cryptocurrencies. There are other exchanges as well after that one in there because they're the big dog on the Nasdaq. You're a publicly traded company. And now that's the one you'll be hearing about. Okay, what's happening? Having good does that Bitcoin, what do they do with having? They get rid of some of their coins? You don't have to be all technical. You can just say every four years bitcoin gets rid of a pull some of their coins on the market. You don't need to know the precise term. You just need to know it exists. Now, why did they do it? Keep that price amount and high. Okay, What's that? I feel I already know what's IPO? Initial public offering, what's an I feel Initial Coin Offering? What's the fork? And the split? Hard forks off cork. When you do a bark, that's hard, what do you do when you completely changing the block chain? What does the blockchain? It's where cryptocurrency sleeps. When you do a soft fork, what are you changing? Just the software. You're not changing the whole block chain. So everybody's got to update their software when there's a soft fork, look into what's happening. You know that now as to race bit going out ahead. But it there I'm trying to close. So that's that day that they swear One day he theorem will out Pace market value, market cap value for Bitcoin. What happened in up, I don't know. Dollar cost averaging. You're already doing this maybe with your stock brokerage account that's investing when the market is up on the market hands down. So over time, you paid an average price for your stock. In this case, you've paid an average price for your cryptocurrency. I love that. All right. What's escrow say even real estate. Third party holding him money to you can close. Easy. What's FOMO? Fear of missing out. These still have that. That's what 2018. I didn't even have alma. I add a worse condition. My condition was called avoidance. Now that you haven't missed anything, get on into it at whatever level you want to invest in. Okay. And what's white paper? You know what a white paper is. I put that in terms of the thesis that you get your PhD or white papers, just information than a cryptocurrency throws out there to let you know who's run in the show and what they're trying to do. And that's it. The genesis block, genesis, Exodus, Leviticus, Genesis first. That's just the first block of code in the block chain. How about that? Easy quiz? See you in the summary. 5. Summary · What's Next?: Okay, everybody, I guess why you are done? So let's next. Exactly. What's next is whatever you want to make it. Am I going to fully endorse you investing in cryptocurrency, I think is something you should explore. I don't want you to be left behind now. You're out of 2018 is 2021. This is the time to at least move from exploration, curiosity to discovering a bit more. You've got the terminology now and you can always go back and check your notes. You can go back and review the terminology. That's what you need it, the base is like any good architecture. This is the real term me talk. And now, you know, when you're going to build a new house, before they can even break ground, they gotta do a soils that a. So for me learning the vocabulary of cryptocurrency, that's like doing the soils that he reckon up with the pool. Recognize. Foundation. Where's the best way to position the home? Now you've got the foundation. You've got that layer of vocabulary. Now you can pour the concrete because she got the blueprint. And as you start to discover more and more and more of that, I recommend that you say, you know, some of these blogs they're easy to find. Listen to some of what the guys are saying that women are saying, that people are saying, I would bolster the same and then process it for your own level. You can write me anytime. I'd be delighted to hear from you, to hear how your journeys coming. So, you know, on that note, much success with growing your portfolio of cryptocurrencies that, that create DeFi, decentralized finance, financing, crypto currencies that are used in gaming, sports, tokens, fan engagement, crypto currency that's going to be used for lending and baking. Crypto currencies that are going to be used for payments and online shopping. Crypto currencies that are going to use for all kinds of applications. And I'm telling you, even though bitcoins been around forever and a day it seems. And the theorem since 2015, we are in the early days of this. And so embrace it if you want or live on her AAC like me. That's what I did for three years. It's your choice, but at least now you have the choice to move forward. So good luck. Stay intact, right? Maybe you have any questions. I'd be delighted to chat with. You. Have a super day and happy investing.