WE'RE BACK TO THE COINS!

For the last 2 weeks we talked about Decentraland and the metaverse, but this week we’re landing right back on cryptocurrency. But first, let’s do a brief refresher of what cryptocurrency is all about before we dive in to this week’s chat.

Cryptocurrency is a form of digital money that functions on a technology called the blockchain. With blockchain, a network of computers confirm (and keep) a ledger of all the transactions made with whatever cryptocurrency you want to use. These ledgers are impossible to manipulate which makes them immune to identify theft and/or fraud. Every transaction you have ever made with cryptocurrency is on a blockchain.

Using crypto is an alternative to centralized banking where banks use private technology to track payments, but cryptocurrencies use a decentralized network of privately owned computers/technology grouped together to confirm your transaction, and these transactions are publicly available. In exchange for doing this (running the computers that are checking every transaction and maintaining a ledger), the person doing it receives some of the cryptocurrency; this process is called mining.

Let’s shift gears now - I’m sure you heard that Russia invaded Ukraine and that there is a war going on that has affected the markets in a big way. There seemed to have been a sell off of crypto on the European side of the world, maybe because no one knew what was going to happen next, and in the USA some people also cashed out their cryptocurrency because they heard of government regulations coming down the pike.

Meanwhile I hope that if you noticed the low prices, you realized that it was a good time to buy. So pray, be led, then purchase! Then repeat as you’re led! Remember we buy when it’s low, and if you do not intend to hold the crypto, you hold it and then sell when it’s high. It’s still a good time to buy, I just saw that the top 3 coins on coingecko dot com are: BTC which is at $39K today; ETH which is at almost $2,600; and Tether which is at $1.00. Also, MANA (we talked about this last week - MANA is the coin used to conduct business in Decentraland, is at number 35 on the list coming in at $2.29 per coin.

Tomorrow we will get into more of how the markets were affected by the war, and later we’ll also chat about the executive order passed last week by President Biden that seemed to receive bipartisan praise. We’re gonna dive into it all and see what that means for you and me. Until then, be safe, drink water and mind ya bizness!

Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™ . The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestion in this post.