The Crypto Christmas Survival Guide

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When this post goes out, most people will be celebrating the Christmas holidays or at least taking time off to enjoy festive activities and spend time with family and friends. And no doubt someone will mention the words crypto or blockchain!

2018 has been an interesting year for the crypto markets. It’s almost as if 2018 was the year things were decompressing from the hectic activities of the 2017 ICO gold rush.

2018 was a year when investors became more cautious when they realised many ICOs were not delivering real value.

Yet at the same time, 2018 also gave rise to more businesses and starts up to come up with better use cases for blockchain technology.

With so much volatility in the markets, it can still be difficult to sort the wheat from the chaff and really understand what this technology can offer and whether it will scale or not.

Coming back to the Christmas theme, I’m sure there will be at least one person at your Christmas party who starts talking about cryptos and blockchain.

So in case you get cornered with your mince pie and mulled wine with someone who starts asking about what crypto’s and blockchains is all about, here is my Christmas survival guide to crypto in case you get caught out!

  1. What is bitcoin all about? In 2019, a secret group or person known as Satoshi Nakamoto created a mathematical formula that created digital money also known as internet money. It is not owned or controlled by a central organisation such a bank. It can be transferred peer to peer over the internet inexpensively

  2. What is blockchain all about? Blockchain technology is what allows bitcoin to exist. It is the infrastructure that records blocks of-of data, which cannot be altered once it's on the block. Again, no one organisation or person has ownership of the blockchain. It is maintained by a network of computers called nodes. This is what it means when they say its decentralised

  3. So what does decentralised mean? It means no one central organisation or person exclusively owns the crypto asset. 
  4. How can I learn more about this topic? Go to meetups, read the latest news and read up on the subject so you can make your own opinions! 
  5. Should I buy cryptos, I’ve heard you can become a millionaire! Cryptos are hugely volatile, do not invest anything you cannot afford to lose!

Enjoy the holiday season!

 

Photo credit: Photo by Tj Holowaychuk on Unsplash

 

Written by Sukhi Jutla

An IBM Blockchain Foundation Developer, she made global headlines in April 2018 when she became the World’s First #1 Bestselling ‘Blockchain’ Author. She has authored two more books and is the co-founder of MarketOrders, the online B2B marketplace for gold jewellery and diamonds. As a female tech ambassador, Sukhi is a regular keynote speaker and passionate about supporting female entrepreneurship. She is an IBM Blockchain Foundation Developer and her efforts have been recognized by a number of industry awards including the Asian Women of Achievement Awards, We Are The City Rising Stars Award, Management Today’s “35 Women under 35”; and listed as one of the Top 100 Asians in UK Tech. In April 2018 Sukhi made global headlines when she became the World’s First #1 Bestselling ‘Blockchain’ Author. Named as one of the 50 most influential people in Blockchain.