What can Cryptocurrency actually do?
Bitcoin, as a form of currency, are much like Ringgit, US Dollars, Chinese Yuan, it can be used to buy things electronically, which more and more merchant including large companies in the world starting to accept. (eg: Expedia, Microsoft, Newegg, Shopify) .
Most importantly, Bitcoin is a decentralized cryptocurrency, which means no one can print it, no one can control it, which some users might find ease within it.
Meanwhile cryptocurrency is a new concept to the financial world(less than a decade), it had been giving major impact on financial media and had been raising attention ever since. And as a cryptocurrency enthusiast myself, I believe this revolutionary innovation will adopt to the world one day.
The truth behind current monetary system.
In modern days, all printed currencies are created independently in central bank of their own country, the central bank have the right to print as much money as they need under “expansionary monetary policy", all money introduced by central bank ARE NOT backed by any gold or something worthy in our government inventories but rather backed by credit of the government itself, as long as the peoples believe in the credit and the worthiness behind the country who printed the currency, or the law of monetary policies enforced on the specific printed currency that it could be used to repay the debt that the government owed, it can be used to purchase anything in the world regardless of the intrinsic value of the currency.
The harm of this monetary system is the massive inflation caused by overprinting currency(Unrestricted printing of money in an attempt to support the economy.) or faulty management of the monetary system (Poor economic policies, corruption)of the country. For example, 100 Zimbabwe Dollar in year 2001 are equivalent to 1 US Dollar, but in year 2009, 1 US Dollar are equivalent to roughly 10,000,000,000,000,000,000,000,000,000,000 Zimbabwe Dollar, that is called Hyperinflation in economic term.
How is cryptocurrency being different from standard currencies?
Apart from Bitcoin, there are plenty of different alternative cryptocurrency, including( Litecoin, DashCoin, Ethereum, ZCash, Monero etc.), most of them are decentralized currency as same as Bitcoin, the idea of decentralizing lies behind getting rid of control by government and hedging the risk associated with modern day monetary system since cryptocurrency are created by software algorithm and the total amount of specific cryptocurrency are limited, which means hyperinflation caused by over introducing money will be unlikely to occur.
We always heard: Bitcoin is not safe, scam, there’s no guarantee!
How often do we hear such statement from a person who is not familiar with cryptocurrency but still think themself outsmarting everyone else? Yes, Bitcoin is not absolutely safe, but neither do your money in bank is.
Unlike modern day banking system which used client-server model (server hosted by the bank itself only), most cryptocurrency are held on Peer-to-peer(P2P) computing network which known as Blockchain, P2P model are much more better at handling denial of service attack than tradition model, which is one of the most common cyberattack occurred in financial technology industries. For example, in order to attack/hack a bank, the hacker would just have to focus on the server hosted by the bank, in the opposite, to attack/hack a cryptocurrency network, the hacker will have to target all the computers that run on the mining algorithm that keeps the cryptocurrency network running (eg. For Ethereum network, that is about 400,000 computers running), and that scale of attack would be theoretically impossible.
Also as explained above, standard currencies today are not backed by any intrinsic inventory within the government itself, all currency are backed by exchanging credits, as long as people started to believe in Cryptocurrency, the effect will start to reflect on the price itself. And since almost all cryptocurrency is based on limited total amount, long term growth on price will mostly be on it’s way.
*Bitcoin price until 2017 May 25th
What exactly is MINING?
A simple wonderful way to explain mining to average person would be:
Consider the network of Bitcoin—Blockchain, as a series of incredible complex 21,000,000 mathematic questions waiting to be solved, by using computer software with huge computing powers, every question solved by your computer will be rewarded a small piece of Bitcoin. The more computers or larger computing powers you have, the more will be rewarded to you.
Computing powers in cryptocurrency are normally being measured in unit Hash/seconds (Althought some alternate coins use different types of measurement, and also each altcoins varies in algorythm, thus the same machine will yield different computing power in different cryptocurrency mining.), the higher the hashrate, the more computing power you’re getting from your computer.
How can you make profit from mining? (MOST IMPORTANT)
With our sophisticated skills and experiences, we now bring you the ability to do mining easily with the help of us, we will help you to sort all kind of setups and installation issues from head to toe. By investing in cryptocurrency network infrastructure (mining), you will be rewarded with cryptocurrency periodically directly into your preferred collection account ( We will assist you on creating one if you do not know how to.)
You’ll need to prepare for:
1) A computer that is specifically assembled for mining purpose (efficient on computing algorithm)
2) A place to host your computer (Sufficient electrical power and heat dissipation channel)
3) A cryptocurrency trader account to collect your rewards
You’ll have to consider:
1) The cost of purchasing the mining-capable computer
2) The cost of electricity
3) The space to host computers
*At the point of writing (27/5/2017) , the daily revenue estimated for a 150 megaHash/seconds of Ethereum mining computer is:
Final Conclusion and Verdict
Meanwhile all this mining and investment might seems very favourable and sometimes even too good to be true, it still carries some potential risk and some unpredictable volatility due to the concept of cryptocurrency is still very young and new to the world, thus alot of changes could be made in relatively short period of time.
Due to that, we do not guaranteed nor promise any amount of return, however, the latest return could always be check on 3rd party link provided on our order page.
As this investment sometimes comes in higher rewards relatively, it also associate with higher than average risk, as an investor we encourage you to weigh the portion of this investment according to risk into your portfolio, and only invest the amount that you are affordable to lose and won't cause a catastrophe on your life event. And we definitely discourage any unrational act including:
1) Investing with future money(credit-card)
2) Investing with emergency fund.
3) Investing with fund that associate with certain usage.
4) Investing with borrowed fund.
While there are still plenty of unrational act could be commited by investors and we might not be able to list out all of them, investors should be aware of their own situation and weigh the risk on their own, do not ever invest with the fund that would cause a catastrophe on your life, this quote are applicable not only on this particular investment, but also to all your other investment as well.