At Florida's Bitcoin and blockchain
summit earlier this month,
which was held right here in Tampa Mayor
Jane Castor announced that she was going
to take her next paycheck in Bitcoin,
Miami and New York mayors.
They recently did the same thing.
You know, over in Los Angeles,
the staple center,
one of the world's most famous
arenas will soon be known as
crypto.com Arena for reported
$700 million cryptocurrency
has entered the mainstream,
and if you feel like you're way behind,
you're not alone. The
crypto breaking above $60,000 for the
first time since April and I think Wall
Street and institutional adoption and
mainstream adoption has played a big
role in pushing Bitcoin up this far.
You know that's what they're saying,
you know, but when you go that high,
you guys know where I stand.
I believe $100,000 by the end
of this year, all right,
hold up, hold up, hold up all this
Bitcoin and crypto talk can be a heck of
a lot for us newbies to the coin game,
even if it has been around for over a decade.
A lot of this is flying over my head too,
so let's learn together, shall we?
And this is an activity in a
journey that I like to call crypto.
101 and to help get us up to speed,
you're going to meet a few of
my new friends along the way.
Nigel Roberts, who's the CEO of a crypto
services company called Crypto blockchain,
Plug Mark Palumbo,
the founder and chief investment
officer at Delta Core Capital,
a hedge fund for digital assets
based right here in Tampa.
And you're also going to hear
from my friend Nick Agar,
the founder of Axia and Ecosystem and
nonprofit for Hyper deflationary virtual
currency. To make this easier,
will break it down into four parts.
What is cryptocurrency?
How can I buy it?
How safe is it in my too late to the
game to get in Bitcoin blockchain?
Coinbase, Ethereum too, the moon.
It's all a part of the crypto vernacular,
but let's get down to the basics.
What is cryptocurrency?
In simplistic
terms, it's essentially a peer to peer
digital cash system that's decentralized,
so it doesn't go through any
bank government or third party.
Think of how we traditionally
use cash or credit card.
That's not the case in the crypto world,
cryptocurrency,
very simply is just a digital or.
Virtual currency that is secured by code.
And this code makes it nearly
impossible to counterfeit,
and these currencies run on
something called a blockchain,
and a blockchain is essentially
a distributed Ledger which these
transactions are being tracked.
And what makes them that much more
secure is the fact that prior
to any transaction occurring,
they have to go through a
proper validation process.
In that process is
called mining, which verifies the
transaction via sophisticated computers,
solving very complex math problems.
In Bitcoin there all these miners
across the world there are processing
the transaction which is ultimately
securing the network, making sure
that every Ledger and every block,
all the transactions are secure.
And in return they get returned
some newly minted Bitcoin money
is changing.
We're already in the digital space.
If you're using things like Venmo,
PayPal Cash app, Apple Pay,
that's already the digital space.
This is just one step further,
which is digital currency such as Bitcoin.
I'd tell people to get
knowledge about Bitcoin first,
so let's do that because there's
thousands of cryptocurrencies out there.
But Bitcoin is the most popular
and so far the most lucrative.
It's like the McDonald's of crypto.
Satoshi Nakamoto created Bitcoin in
2009 who wanted an independent way for
users to send money to each other fast
and with little to no transaction fee.
So there will only be 21 million
bitcoins ever in existence,
and the way that that works is
there slowly trickled into the flow
of the system by miners decreasing
every four years until 2041.
So they're limited and clearly in demand,
with Bitcoin exploding over the last
decade case, Bitcoin says it's.
10 year compound growth rate is
unmatched in financial history.
Nearly tripling your money
every year for a decade.
OK, so now that I've got your interest,
how do you buy,
trade or sell crypto like Bitcoin?
Always make sure you're using a trusted
exchange and something that with a
lot of security in the United States,
the biggest exchanges Coinbase,
so Coinbase is usually typically
the biggest and easiest way for new
beginners to get into the market,
similar to let's say when you open a bank
account or when you open a brokerage account.
You go through a registration process
at one of these exchanges and then
after you complete that registration
process you would be receiving one of
these cryptocurrency wallet to then go
into the market and purchase whichever
crypto you wanted to buy the time. So
now that you know how to buy some,
how safe is it? Well,
the Federal Trade Commission says
consumers lost north of 80 million on
crypto scams during the back end of 2020.
In the first quarter of this year.
But experts say that has more to do with
a lack of research and knowledge than
it does with the crypto process itself.
Blockchain technology is known
for its unparalleled security.
The user, like you or me has
their identity protected,
but all transactions are made public,
making it nearly impossible
to hack or cheat the system.
And with thousands of miners keeping
track of the transactions and
having to show proof of their work
to get paid, it increases the security
we should actually be
looking to cryptocurrency,
as are far more secure way.
To conduct our payments because of
the immutable nature of blockchains
that transactions because of
the fact that the transactions
themselves are so transparent
on that Ledger at all times,
anybody that's talking
about massive gains in this face immediately.
You need to put up your red flags the
moment you begin to get greedy,
and you want more and more and more.
That's the time that you
began to get. Scams were
a decade in, so is it too late
to get into the crypto game?
Or are we just getting started?
This is a marketplace
that it's in its infancy.
We are really at almost an inflection
point in our economic system
in terms of what is possible.
You know, the sky is the limit.
You know, it's an incredible.
You know we're only scratching
the surface on the technology
and the tools that the solutions
that this can really offer.
You know, 510 years.
I don't think I don't think we
really recognize a lot of the
difference that it'll actually make.
And how we not only transact but
also do things on the Internet?
This space is still evolving,
but there's no doubt about it.
Crypto is here to stay nausea
markanich all shared the same
key pieces of advice if you want
to start investing number one,
do your research and educate
yourself before you invest.
Number two, don't put in more
money than you can afford.
And lastly, look at this
as a long term investment,
not a get rich quick type of play
and that my friends is crypto 101.