1. Introduction to Crypto.

In 2008, following a period of reckless financial deregulation by the government, fraudulent actions by American banks, and euphoric investments by the people, the American financial markets gave us the worst global economic crisis since the Great Depression that followed the crash of 1929. Millions lost their savings, their jobs and their homes, while senior bankers earned record bonuses for selling crap CDOs rated Triple-A by the corrupt rating agencies to the American people (just watch The Big Short on Netflix); it was a ticking time-bomb and it exploded, affecting the poor more than any class of people (in terms of wealth). Here’s the thing, banks control the money, which means they control our lives in the world of capitalism. Yes, it’s usually as calm as a walk in the park for the average Joe, but if & when something goes wrong, it absolutely destroys lives (take Lebanon in 2020 for example). Why would anyone trust a stranger with his or her money? It’s important for me to emphasize that this is not a sustainable way of storing monetary energy for the long term. I will write more on the store of value options that we have with the conventional financial system later on, because cryptocurrencies are the focus of this report, not finance or banks. A cryptocurrency is a digital currency that is under the control of no government, individual or centralized entity. Cryptocurrencies are decentralized; they have no central issuing authority, a decentralized system is in charge of that. The underlying technology of cryptocurrencies is blockchain technology, and for the first time in the 50,000 years of modern human history, we have the opportunity to establish peer-to-peer trust without the help of a third party. Blockchain technology is the most disruptive innovation since the creation of the internet, it is a continuation of the internet and it gave us the internet of money & assets. Assets & currencies are going digital exactly as information first went digital in the 1990s. Where did it all start?

To continue reading, proceed to the next section available in the home page: 2. Bitcoin, the perfect store of value?