“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” – Robert Kiyosaki
Do you remember that advertisement of idea by Abhishek Bhachan in which he talked about saving trees by digitalizing everything,from newspaper to novels, from greeting cards to currency every thing could just squeezed into a small cell phone only and that’s how we could save not just trees but entire human existence tadan….
But wait do you really feel safe doing online transactions?scared of your account getting hacked ?ever used electronic wallets like paytm or something?did ever tried online banking or stuff?its totally fine to be cautious I totally understand.
So here I have a solution for you … ya you heard it right there is a solution “cryptocurrency”.
Now obviously you wanna know what is it ?
A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.
The anonymous nature of cryptocurrency transactions makes them well-suited for a host of nefarious activities, such as money laundering and tax evasion.
The first cryptocurrency to capture the public imagination was Bitcoin, which was launched in 2009 by an individual or group known under the pseudonym Satoshi Nakamoto.
And we have a whole damm list of currencies like we have rupees ,dollar,euro,etc for the physical world and similarly we have Bitcoin,Litecoin,Namecoin, SwiftCoin , Bytecoin, Peercoin and many more for the digital world say cryptyocurrency….
Sounds like a bit alien isn’t it ? big terms for normal people quite complicated han ??
Look simply its just another form of money like paper note or metal coins there is another simple currency we call as cryptocurrency,so as in all the past time in place of something we offer some other thing of the equivalent amount .
I am talking about the time when there were no physical currencies for common man so similarly when we aren’t limited to the physical world or we can say when aren’t really bounded within boundaries when just notes and coins aren’t sufficient enough to meet public desires we have come across virtual currency (cryptocurrency )with just some basic programming language like c++ some people turns your balance into digital code and you can buy it, send it, receive it without any permission or involvement of third party ,which not only lessens the envolvement of people but also reduces unnecessary taxes and risk of theft …
But look on to the other side of this coin since this is a code and your whole money has turned into it now stop for a while and think?
What if someone could decode that encryption ? not just he would be able to steal your money but he could make everyone beg upon knees ,and since this isn’t centralized or owned by any organization so to whom would be blaming for your loss? Who would help you?when there would be no traces to follow ?
See technology ,upgradation is great but I think we are still not ready for it …
If you ask me about the future of cryptocurrency …well I don’t know but I can predict ours …and that would be worst if we keep on relying on codes blindly..
Watch it …
Be doubly sure before investing your money into anything…
Just be careful always …
Thanks for reading