Gold in Crypto Currency ?

One of the most amazing developments we’ve made in the past is the discovery of the internet. It has enabled us to connect people together in real time from all across the globe, which is a huge deal. We can have a conversation with someone in real time who’s literally poles apart.

There is so much potential tied to this technology, that it started being seen as a threat, and therefore governments began imposing regulations, thus limiting what someone can actually do.

Nonetheless, we all know that whenever rules are applied to something, there are always a group of people that don’t want to listen. This sparked the creation of the Dark Web, a large and sophisticated network, like the internet. But this had no rules, no restrictions, no governments overlooking everything. On this network, people can legitimately buy anything, ranging from drugs to sex slaves.

How could we possibly buy things like these without anyone else knowing? The answer: Digital currency. This type of money flows in large, decentralised networks using fancy technology called blockchain technology.

This means that there is no central bank controlling the supply of the currency, and all transaction records are held by all the entities on the network. When a new transaction takes place, all the different entities on the server will check their old records to validate the new transaction.

I recently found an article on the New York Times discussing how DJ Khaled, a famous producer and rapper, and Floyd Mayweather, a world renowned boxer, have endorsed a start-up company called Centra Tech that has created their own crypto currency: Centra. Not only that, but they’re also stepping forward with introducing a debit card that is designed for use with compatibility on 8+ major cryptocurrencies blockchain assets. These include two of the most popular: Bitcoin and Ethereum.

So what does this all mean? Clearly, the industry for digital currency is expanding, and many people have started to take advantage. However, my advice is to be careful, because there are risks associated with this shady business. Firstly, it is shady business. None of this is government regulated, so legal restraints could affect the value of the digital currencies.

Ultimately, many people are investing in up-coming crypto currencies because it’s a good idea, but if you wish to do the same, then I suggest investing in Centra as well, mostly because of the fact that celebrities are endorsing them. This will attract a great deal of attention to this particular currency, encouraging more people to invest in it, subsequently increasing its value.

 

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External references:

https://blockgeeks.com/guides/what-is-blockchain-technology/

https://blockgeeks.com/guides/what-is-cryptocurrency/

New York Times Article: