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#Bitcoin
& other cryptocurrencies
A BEGINNERS GUIDE.
- THREAD
Something a bit different today for you fine people.
In today's thread, I'm going to discuss #Bitcoin & some other cryptos
Let's dive in -pic.twitter.com/JpsEtlQFpy
#Bitcoin
The year is 2009, the world is emerging from the complete shambles of the 2008 housing market crash in the USA.
The smartphone and social media revolution are underway, the world has a suspicious vibe, we are becoming more connected across the globe.pic.twitter.com/nhdGa2LUSD
Information is spreading at an incredible rate, the masses have more data at their fingertips than ever before. People are starting to wake up to some major home truths about the global financial system & the whole system in general.pic.twitter.com/lciRTvxvSY
In the midst of all this, another revolution was taking place in the shadows of the internet. Bitcoin emerged in this era. It was initially promoted in late 2008 only to a very small mailing list of enthusiastic cryptography related people, when the founder of BTC /
Satoshi Nakamoto sent out the projects white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" On January 3rd, 2009 Bitcoin was launched and never looked back. To begin with, its value was very low and stayed under a dollar per coin for a few years initially.pic.twitter.com/KqNF83qiF8
It was a bold idea, the basic concept was - it would be mined from the internet, using high powered graphics cards which could solve very complex mathematical puzzles which then made the coins available for the minors to sell. The code for this was genius, it was programmed onlypic.twitter.com/nTV1b8zh2X
To mine a total number of 21 million coins max. This concept at the time seemed unbelievable, when something new and dynamic comes out that you don't fully understand, it's hard to grasp how it can actually work in reality, but it does, and looking back, what a grand idea it was.pic.twitter.com/iIwk63gdSK
Another key point was - It was totally decentralized, which means, it was not owned by one single company or group, unlike regular money i.e the pound, which can only be printed at The Bank Of England - Bitcoin is open-source, anybody can mine it and own some of it.pic.twitter.com/vkKfiCgZyJ
The price of Bitcoin since has risen astronomically, it was almost at 20K per coin back in late 2017, before it crashed back down to the 1k region, but it managed to get back up from that horrific dump and now is holding steady around the 9.5K region.pic.twitter.com/oJHjumYGGc
I believe bitcoin is now well and truly established as a very solid form of investment & or holding your cash in a different vehicle. I understand it is very daunting for a new person to get into it, but please, don't wait too long to get involved, you can buy any amount you wish
It does not have to be a full coin at a time, which may put a lot of new buyers off at face value.
I recommend you read the amazing book named "The Bitcoin Standard" By Professor @saifedean Ammous - He really breaks it down so well and also gives the reader a fine overview ofpic.twitter.com/GV6i71C4Zz
the history of money and how it links through to modern times and bitcoin.
A wonderful read.
if you wish to get into buying and selling bitcoin, simply just sign up to an exchange @coinbase is the most straight forward for newbies, very easy to use and you can also trade manypic.twitter.com/qaanMo2apN
other cryptos on there also.
Don't be intimidated by new markets and innovations, sure, we all know there has been a lot of scams over the years, but #Bitcoin is the real deal and I personally love it and I'm glad I took the time to learn about it.
I hope you guys do too
After the rise of bitcoin, countless other cryptos have been born into the market. The major ones are in my view, Ethereum, Litecoin & Link, however, there is MANY more, please explore these coins as they can be very handy to have and they can also be VERY lucrative if youpic.twitter.com/xYHHoge0mE
can time your entry and exit points carefully. Please be aware, however, the crypto markets are VERY volatile, which means the price goes up and down very rapidly sometimes. So, (like any other investment) only put in what you can afford to lose and NEVER borrow to invest.
I believe these markets will become critical in the next decade, so if you can get into the habit now of investing a little each week or month and just let it build up over time, eventually it will give you a really healthy return, you just need some basic information and a wantpic.twitter.com/A0FeQF050l
to go and learn something new, that's different from conventional ways of storing your wealth.
One day it will pay off and you will be glad you read this thread.
The founder of McAfee anti-virus software @officialmcafee famously claimed the price of bitcoin would one daypic.twitter.com/TAwp5jxgOh
hit 1 million dollars per coin, this may have been tongue in cheek, as he is a serial prankster but I would never write big John off, he has a fine mathematical mind and really knows his stuff when it comes to bitcoin, other cryptocurrencies & mind-altering drugs.
I hope you guys enjoyed this basic overview and have now gained some insight into the world of Bitcoin and cryptocurrencies, however, I do warn you all, once you get this virus into your mind, you may struggle to become free from it! 
END THREAD.
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