Ayo Atolagbe Talks Blockchain, Bitcoin & Cryptocurrency
Is Bitcoin really worth it? (The volatility of profit)
In understanding what is blockchain, bitcoin & cryptocurrency in general, it is best to give the basics that a kid can understand and grow in knowledge of what the intrinsic factors are in the later.
*The great news here is what I will call Blockchain, this invention is said to be the brain-child of either one person or groups of person, as the inventor (Natoshi Nakamoto) is still anonymous till date. This has been referred to as the new internet because of its possibilities and use in vast industries, though with an first use in the cryptocurrency world (first Bitcoin which will be explained later), and as defined by Don & Alex Tapscott in 2016 – “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
Mentioning some key values of blockchain here to helps us understand that you do not have to know all about it before you use it, just like the internet, mobile devices or cars. listed below are great values it uphold:
1. A distributed database
2. Blockchain Durability and robustness
3.Transparent and incorruptible
One key value which made Blockchain stood out is the Decentranlization power, therefore the power of manipulation has been worked on and people can profit from this as well. The answer to this phenomena is that as you make use of this tech, if I am allowed to call it that and to make you understand, you are cutting off the middleman since you are now introduced to a GUI (Graphical User Interface) which is known as the “wallet” when dealing in term of Bitcoin here.
A deeper research and study will illuminate our knowledge when we embrace Blockchain, that it can be of great tool when it comes to Smart contract, Economy sharing, Crowd Funding (as seen in the likes of ICO), also in Governance, File storage,identity management in listing some great benefit that can be gotten from this great innovation.
*Looking into Cryptocurrency or digital currency as many will call and Bitcoin, though it has been a worldwide spread, but yet to be understood by some across the continents, which rises doubt in the heart of many concerning the future of it. And in giving a better knowledge about digital currency, a side project which turn to the fortune for cannot be sidelined, the initial project was to create a peer-to-peer network which is decentralised with no server and also not controlled by any government.
As the evolution of money as been in a great trend, we have seen the movement from the Barter system, moving to the Coin System and Gold system to the Paper Money and the Mastercard, to the paypal and now is the Digital Money as stated earlier. The beauty of it all is that it (Digital Currency) has greater benefits compared to the rest and when best understood and employed, it has the capability of not growing the economy of the country alone but also the interests of individuals are put in place.
*Bitcoin (Announcing the first release of Bitcoin, a new electronic cash system that uses a peer-to-peer network to prevent double-spending. It’s completely decentralized with no server or central authority. – Satoshi Nakamoto, 09 January 2009, announcing Bitcoin on SourceForge.), and the spread to the world via many channels as reduced the confidence the masses as towards it.
Let me start by saying what Bitcoin is not, because when it comes to what people do not understand, knowledge and training should be the first focus of every management
Note that Bitcoin is not a
1. Ponzi scheme
3. Some peer to peer opportunities that came into existence and disappearing with people’s capital, which I am not in liberty to mention names.
You must know that Bitcoin grows in value of itself due to the innovation process and demand, with the total number (21 million coins) which was planned to be in existence (mined) and scheduled for year 2140. When a commodity is scarce, the value rises, that is the case of Bitcoin, though volatile and experience personally, but the price as been on growth over the priod of it creation, with a value of $0.08 in July 2010, and bullish and bearish runs, it found its way to $14,050 as of 22 December 2017 after a retrace from $19,700.
To some, this can create a fear in their mind, but for those that has understood how the market works, to every rise, there is a fall before it goes back up, so I will advice everyone that is in or having a desire to benefit from the cryptocurrency space and Bitcoin in focus here, always buy at the dip and sell high. But am I saying you should sell, personally I am seeing rise to average of $40,000 by 2018 as predicted.
There are various ways to make profit from bitcoin, you can choose to invest in startups, put up your bitcoin in trading opportunities, can also choose to trade yourself if you have knowledge of trading or still choose to just HODL (hold your coin at same quantity and see it grow in value in your “wallet”). I have come to understand that planning your finance matter most when diversification of resources is concern, so know how much you want to get into cryptoworld with, get knowledgeable and learn what is in trend from the right information streams.
For me, 2017 has been a good one, having gotten a good information in great Bitcoin investment opportunity from a friend in Spain, and 5x(ing) my initial capital in just seven months, and helping close to 67 people in becoming a millionaire in my circle of influence, and still preaching the gospel of Bitcoin and cryptocurrency in general.
For those willing to learn and earn, you can get to me via the editor of this magazine or be part of my Profit Blueprint Community on facebook (https://web.facebook.com/
As my mantra and a gift to you as you take a bold step today; LEARN BETTER TO EARN BETTER.