Cryptocurrency Market
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I'm gonna be going over exactly how you can score free big point today you don't have to pay me you don't have to do anything what you need to do in order to score that free big coin welcome normally we talk about credit cards and personal finance.
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But lately the big coin market has been absolutely crazy with the release of all the stimulus packages the dollar getting inflated and a lot more corporations turning into the side of investments in crypto currency we're seeing the price go absolutely insane and I'm hearing some real personal success stories in my own life of people I know who are making hundreds of thousands of dollars in crypto currency so I don't want any of you guys to miss out because if you have this mentality that it is way too late.
I will not be able to get in there as well that's far from the truth I think we are still in the much early stages of the development of cryptocurrency especially bitcoin and one of the most important things that you can do is to invest now get started now okay so let's start this off by talking about the background of big point what it is and how it all works to break things down the easiest way to explain the way cryptocurrency works is this is just a peer to peer transactions so if I wanted to send you money I would do it through cash app or PayPal if I'm trying to demo you some money what happens is I have my $10 and I want you to get it it doesn't go straight from me to you although that's what we see on our end the back end.
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That handled the exchange I really want you guys to pay attention to this next clip talking about the dangers of using some of the most popular apps like PayPal invent mo and if you didn't know yes PayPal does own demo leach former federal user setting up thousands of dollars taken out of his bank accounts by way of hospitals according to leach the hoppers made a few more quotas 2 transactions taken out as little as $0.18 at a time PayPal now owns bimbo settles lawsuit with the Federal Trade Commission Lester over privacy violations for selling buyers purchasing habits to companies what you have to realize now is that big companies will prioritize other people's data and sell that for extraordinary amounts of money this is not uncommon practice and it's actually pretty sad this may be how I personally got my identity stolen who knows a lot of the sensitive information that you would never think getting revealed to other companies happens on a daily basis and this is one of the things that crypto currency is here to to help alleviate and to solve aside from those things we're not even gonna go into the topic of security and the liability.
That the banks have been trying to have all of our money and the instability of the fiat currency all you need to know is that there are a lot of downsides when you are using a primarily peer to peer system that relies heavily on different entities outside of our control with cryptocurrency your big point you get something called a wallet address this is pretty much a long series of numbers and alphabets and you pretty much just put that in and that's where you can send the money if you don't ever have to worry about that transaction getting reversed you don't have to worry about the transaction getting hacked the way bitcoin works is secure and it's pretty awesome.
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Just in case I didn't do a good job of explaining through my knowledge on what the point is I'm going to read to you the exact print that they have on bitcoin.org so you can have an official better understanding of how this all. Works the state on their website bit coin.org big coin uses peer to peer technology to operate with no central authority or banks managing transactions and the issuing of big coins is carried out collectively by the network coin is open source its design is public nobody owns or controls big point and everyone can take part through many of its unique properties big point allows exciting uses that could not be covered by any previous payment system they also show a 3 at key points fast peer to peer transactions which is very important now in the year of 2021 we don't like waiting 2 to 3 weeks for that money to come in we don't like waiting 2 to 3 business days for that wire transfer to come in the next thing they say is worldwide payment.
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If I wanted to send to my relatives in Korea some money I I would either have to wait or pay a large fee and I would not be 100 percent sure if it went through either the third thing we need to mention is that bitcoin has low processing fees so you pay just a small fraction of this processing fee that goes towards the people that are actually mining the data for this transaction to go through now in addition to that I want to show you another resource that you guys can all check out this is literally on the public website bitcoin.org and this is the official white paper of how big point works so what you're seeing on your screen right here is the official white paper of what bitcoin is and how it was intended to work we can actually see that this is a summary of how big coin was supposed to work and why it exists I'm not going to go over this if you do want to do a deeper dive and you find all of this fascinating I will have links down below in the description or you literally going big coin.org and you can search this up as well but this pretty much goes into the transaction.
Details how it works the hashing the notes it also talks about the timestamp server the proof of work anything related to the back end of why big point right now is an actual. A successful thing if you don't have a background in computer science or you're just someone like me and literally as much as you read this some of it still doesn't make sense I say that's OK you don't necessarily need to know exactly how the splitting of value or how each hash and nodes work all you have to really know is what big and how it performs now that we have a good idea of what the queen actually is and how it works we need to talk about the transaction process and we also need to go over something called the block chain.
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