Similar headlines were made for the internet in the mid-1990s. The title of the article published in the Daily Mail newspaper for the internet, which was just starting to grow in those years, is as follows: “The internet “may be just a passing fad as millions give up on it”
Now we must ask. We have reached the 2020s. Has the prophecy mentioned in this article come true? Has the Internet become a tool that millions of people want and abandon, or is it the most valid technology today?
We are at the point of “Entry 101 to cryptocurrency” in the world right now. We looked at how this new investment tool is applied, its advantages and pitfalls, from Elon Musk to the corner monopolist, while cryptocurrency values are added next to units such as dollars / euros on the screens.
Let’s write the statement made by Microsoft’s founder Bill Gates during the week while we are entering the crypto money craze: “Elon (Elon Musk) has a lot of money to spend and has complex finances that the average investor doesn’t know. Unless you’re a billionaire like him, you have to be careful.”
Of course, this should not cause you to downshift on the way to solve the cryptocurrency, perhaps the future of the new world system. However, if you are taking this road, it is necessary to know a general macroeconomics, new generation terms and a little bit of politics, starting from the very basics, so to speak. (Perhaps really “everything is political.”)
The future of money is digital
“In its short life, Bitcoin evolved from a small movement of computer scientists, cyberpunks and cryptographers to a scheme that could inspire the design of the financial system and money,” CNBC reported.
Bitcoin is the world’s first cryptocurrency and blockchain. Bitcoin, which is not a physical or digital object, is simply a representation of tangible value in the form of a record of ownership.
Bitcoin transactions are like all known financial transactions: the transfer of value from one person to another. However, instead of routing this transaction through a bank or other financial service provider, it is verified and recorded directly on a virtual chain by all nodes in the Bitcoin network.
Nightmare of traditional states
The Bitcoin chain is publicly located simultaneously on tens of thousands of computers around the world. No one or any business controls this processor, which makes Bitcoin decentralized, which is where governments’ anxiety about money getting out of their control right now begins.
Will individual centralization win?
This is actually a philosophical question. From an economic point of view, this new financial way of securing transactions by establishing a decentralized and democratic network was actually developed during the financial crisis of 2007-2008 in recent economic history.
Bitcoin enables individual decentralization instead of state centralisation. Its nature takes control from the minority and gives it to the majority. It is stated that the daily transaction volume in Turkey exceeds 1 billion dollars.
NOTE: The government is preparing to impose a tax on the buying and selling of cryptocurrencies, especially Bitcoin, according to the lobbying information in Deutsche Welle Turkish. However, there is no example of this in the world yet.
How does the system simply work?
Before moving on to Bitcoin mining, if we talk briefly about the buy/sell model, you first open an account – securely – in a local or foreign secure cryptocurrency exchange. Then you transfer cash to your account by EFT, PayPal or money order.
After the transfer, you can receive as many Bitcoins as you want. You can also place a buy and sell order at the price you set on the cryptocurrency exchange, and also buy BTC well below the market. For example, BTC is 100 USD and you gave a buy order at 80 USD. On the same day, your demands can be matched with another investor who places a sale order at 80 USD.
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