BASICS

Fiat VS Crypto

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What is Fiat Currency? It is money by Government Decree. It is “legal tender” whose value is backed only by the promises of the government that issued it, such as the ZAR, USD, Euro, Pound , etc. In a Fiat system, currency is created by a central bank & circulated by the citizens while paying taxes & fees to middlemen, every time it circulates through an individual’s accounts or hands.  This system is therefore peer-to middleman-to-peer. […]

BASICS

What is Bitcoin & what is a Blockchain?

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What is Bitcoin? Bitcoin (BTC) is the original, the first fully functioning cryptocurrency, that came into being with the mining of the Bitcoin Genesis Block, on 03 Jan 2009. What is the Blockchain? It is a continuously growing list of records called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp and transaction data. By design, a blockchain is inherently resistant to modification of the data. It […]

BASICS

Crypto Mining

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What is Crypto Mining? Most ppl have a complete misunderstanding of what Crypto Mining actually is… they conjure up pictures of ppl digging in the dirt or even a factory production line.  This is not what “mining” really is… What is Bitcoin Mining? This is the process by which transactions are verified and added to the public ledger, known as the blockchain, and also the means through which new bitcoin are released. The mining process involves compiling recent transactions into […]

BASICS

Welcome to the Crypto Universe

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Welcome to the world of Crypto! Firstly, you need to understand that Bitcoin and the other Cryptocurrencies are NOT a get rich-quick scheme… people who treat it that way get caught up in scams & then get their fingers (& wallets) burned! Don’t misunderstand me now, Cryptocurrency CAN make you rich… but that is not it’s true purpose, it is a secondary effect for those early to the party… & yes it is STILL early… […]