Chapter 2 Back to CRYPTO!
Cryptocurrencies have gone through a lot of love and pain in both retail and institutional settings throughout the last decade or so. Crypto was once shunned by institutions, now moderately accepted. Once called out for not providing any “real value” now said otherwise. Crypto is decentralized for a reason, and now holds its own correlation to the economy and the government. Making it impossible to be subject to government intervention and manipulation.
One of the main goals of crypto was to enable transactions without an intermediary facilitating the transaction and therefore saving money in these online payment transactions. Now there is a lot of science behind how these transactions work and how they’re used. The simpler approach to explaining this is that there are many encrypted algos and cryptographic techniques that allow for these transactions to occur. There are a lot of functions that go into this, like elliptical curve encryption, public-private key pairs, and hashing functions. The popularity of crypto has still maintained an ever-present force in the financial markets with Bitcoin currently sitting around 32,000 USD. Who knows, maybe by the time that you’re reading this article Bitcoin will be at 100,000 USD or 15,000 USD. Yes, it’s that volatile. Bitcoin being the MOST popular crypto over the last decade or so.
Below is a chart of BTCUSD on a daily basis.
