Tag: wallet

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Banking Bitcoin Blockchain Cryptocurrencies DeFi Finance Investment Web 3.0

USD 100k Bitcoin? 💹

Screenshot 20241122 201928 Chrome

In 2017, Tommy Lee forecasted #Bitcoin would cross the $100,000 mark.

I received an alert: “Bitcoin reaches a new all-time high of $99,261 USD. This is an increase of +47.64% since last month.”

Whether you believe in #cryptocurrencies or not isn’t the point. The point is you must understand what they are and what they represent to make the right decision and fall into the trap of FOMO (fear of missing out).

Contextual Knowledge:

  • Bitcoin is both a cryptocurrency and the name of its underlying #Blockchain network
  • To hold Bitcoin, you need a Bitcoin wallet or an online service that manages the wallet (though technically, you aren’t the direct owner)
  • You can transact in Bitcoin via your wallet or a Bitcoin Visa Card
  • Bitcoin is considered “digital #gold” – a store of value that historically outperforms other asset classes, with an average yearly return of approximately 182%
  • Bitcoin’s volatility is unparalleled: -64.3% in 2022, +155.4% in 2023
  • Bitcoin #ETF (or ETP in Europe) represents the traditional finance-approved version. In 2023, #Blackrock issuing a Bitcoin ETF did send a strong signal
  • Some businesses are diversifying investments through Bitcoin, with #MicroStrategy holding approximately 331,200 bitcoins as a strategic asset
  • El Salvador has adopted Bitcoin as its official national currency

Why the current boom?

President Donald Trump, known as a “pro-crypto” leader, has been making strategic moves. After issuing two #NFT collections in 2022 and 2023, he launched “The Defiant Ones” #DeFi platform with his sons Eric and Donald Jr. Trump.

Furthermore, he appointed Elon Musk as co-head of the Department of Government Efficiency (note the playful D.O.G.E. acronym).

Musk, notorious for supporting the #Dogecoin community, has seen the cryptocurrency soar by 193.44% in a month, with a pivotal moment on November 5th, 2024 – the US election day.

Markets aren’t always rational, but the sequence of events always tells a story.

Golden Rule: If you do not understand the product, do not invest.

In #tech we trust.

🫡

Categories
Technology Bitcoin Blockchain Business Business Strategy Cardano Cryptocurrencies Ethereum How to Polkadot Strategy Technology Strategy Web 3.0

How to grasp the blockchain world and safely walk your first steps into Web 3.0

blockchain

The following is a quick guide explaining how to become acquainted with the world of blockchain, crypto, and web 3.0:

  1. First, I invite you to start with these videos:
    1. What is a Blockchain: https://youtu.be/rYQgy8QDEBI
    2. The difference between Bitcoin and Ethereum blockchains: https://youtu.be/0UBk1e5qnr4
    3. What is a Smart Contract: https://youtu.be/ZE2HxTmxfrI
    4. What is a Stablecoin: https://youtu.be/pGzfexGmuVw
    5. What is an NFT: https://youtu.be/FkUn86bH34M
  2. Understand the key concepts of web 3.0 by googling them: Blockchain, Wallet, Cryptocurrency, (crypto) token, Mining, PKI, tokens, Smart Contracts, Dapps, Decentralized Exchanges (DEX), Staking, ICO, ITO, Layer 1/2/3 protocols, transaction fees, consensus, etc.
  3. Know what are the major Web 3.0 technologies, their differences, and their value propositions like Bitcoin, Ethereum, Polkadot, Cardano, Cosmos, Polygon, Hyperledger, IPFS, Storj, Solana, Tether, etc. Not only the network but also the development tooling and the distribution means.
  4. Understand what new business models, organization models, like DAO, and features the Web 3.0 is bringing with respect to Web 2.0. Then research how Web 2.0 and 3.0 complement each other.
  5. Select one Blockchain technology and stick to it, in the beginning, to understand how Dapps are being built, distributed, and promoted in the ecosystem. Some of the most popular depending on your areas of interest: Uniswap (DeFi), OpenSea (Digital Art, NFT), Axie Infinity (Gaming), …
  6. Understand token economics and how it is possible to have such a huge valuation and market capitalization.
  7. Learn by doing!
    • Learn to use blockchain tools like Etherscan and Bitcoin Explorer, to see all Ethereum Blockchain transactions. And now is the time to look up your own wallet!
    • Then, you could fund your wallet using the most popular and safest Crypto Trade Exchanges like Kraken, Coindesk, or Crypto.com.
      Notice that you can buy cryptocurrencies with Paypal, but you currently cannot transfer them to your own wallet. Paypal is holding bitcoin for you.
  8. Follow the various companies and foundations expanding the web 3.0 (tech websites, Twitter) to grasp how the ecosystem is expanding. Then, ask yourself how these companies are regulated.
  9. Interact on LinkedIn, Twitter, and Reddit with knowledgeable people and enthusiasts.
  10. If you are an IT engineer, start programming with Solidity. I find the Truffle Suite genuinely good to build Smart Contracts and NFTs in an easy way.