cryptocurrency

Cryptocurrency – Why I need to know more about Bitcoin?

The subject of Cryptocurrency and block-chain technology appear more and more in our news papers. Nevertheless, it is one of the most misunderstood and controversial subjects for the majority of the people. In many people minds, The topic is attached to terms as “Black market”, “gambling” and “Speculations”. The truth is, that Block chain technology is the future. For every person that is searching to be updated in what’s happening in the world around him, it is time to understand better the subject and its applications.

It is true that in the last year the value of Bitcoin and other Cryptocoins has gone up and down and that many scams have been connected to its activities. This trend have been seen previously with new technologies reaching the market. As the internet of things allow easier and faster access to all in our new global era of investments, it is natural that the flunctation in early stage will be bigger. To start understanding a bit better the subject, here are a few important facts that you need to know:

  • Bitcoin is the first, most known and valuable Cryptocurrency in the market. With a total value of $169,452,298,312 (with a value per coin of $9,958.11 at the 5.5.2018)
  • At the moment the top 5 Currencies are – (from the top down) – Bitcoin, Ethereum, Bitcoin Cash, Ripple and Litecoin
  • Bitcoin is based on a technology called “Block-Chain”. Bitcoin is only the tip of the iceberg of this technology.
  • The Block chain Technology is an innovative system and a disruptive innovation which will enter into all the domains of our life and is going to change the way we operate the majority of our current systems.

In many conversation with professionals, Bitcoin and the Technology behind it the moment are compared to the Internet boom of the 90’s. For those of you that are to young to remember, When the internet have been introduced to the mass market in the 90, there was an hysteric moment of investment around it. Firms have emerged everywhere, creating a mania of investment and numerous amount of scam. The term “Dot-Com bubble” was a historic economic bubble and period of excessive speculation that occurred roughly from 1997 to 2001, a period of extreme growth in the usage and adaptation of the Internet. Nevertheless, following the crash and the end of the speculators the internet (which was in the time the new disruptive technology), has survive and became a tool we cannot live without.

Here is the Nastaq index of that period:

To understand how similar the Block chain technology is to this market, here is the chart of the price of Bitcoin in the last year: (Can you see the similarity)

It is important to notice that the value of bitcoin and any other Cryptocurrency is based on the amount of transaction made in the market. To make it simple, more people buy and sell or transfer it one to another the more value it gets. It is very similar to any currency in that manner. The crazy increase in the price of Bitcoin last winter is easy to explain. When the price start to go up and the awareness have picked, many people saw the opportunity to make profit and start buying, Creating a “Mania“. The values started to rise nothing to do with the actual technology behind it.
In the moment the value have served its investors, they started to sell their bitcoin out, which immediately made the price go down. At this moment, the majority of the people that were following the trend (without really understand why) saw the drop of price and start selling their bitcoin as well. In economic term it is called a “Panic”. at the low point of the panic in February the value of a bitcoin has been 7,023$, which was still higher than its value in November 2017 before the mania (5,976$). This is an important point.

I will publish a series of post in the subject to cover the subject and give you a better understanding of the subject in simple terms. For now it is important to hold in mind a few points:

  • Cryptocurrency is not so different from your Dollars or Euro,
  • These coins are reflecting the entrance of a new technology called “Block chain” into our lives.
  • This technology will affect governments, banks, insurance companies and working places.
  • Like many other disruptive innovation, the current market is trying to do everything in his power to block its entrance.
  • The price of the Cryptocurrencies will continue to go up in the long run.

Be Aware: The stage of development of Cryptocurrency and Block chain is far from being mainstream. It means, it is open to manipulation as people do not fully understand it. This post is not in any way giving a professional analytic overview for investment. Before investing in anything, please make sure you fully understand what are you investing in and how to do it.

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better world · education · Real life education

Constructive education – Part 6. Self Education

Self education is important as much as the education given in classrooms. The ideas behind “constructive education” are all coming from the idea, that education should give to the young generation the best tools available to succeed in life. The questions regarding what is success is fundamental. In my personal opinion, success is a combination of a social and professional capacity that promotes the well being of the individual and its society during his mature life.  

The educational system of now days, is concentrated in teaching informative material and creating a discipline of learning due to demands. The frame created by the schools should be preserved. It promotes social interaction between kids and teach a general knowledge required for the future. Those aspect are important for the sake of the social development of any individual and the promotion of a basic general knowledge required to all.

From the other side, this kind of education lack a very important aspect. The capacity of a person to learn by himself and evolve based on his willingness. This capacity can be called “self education”. Following the period of school, an individual is required to constantly learn new things and enlarge his own knowledge. this requirement will determine the capacity of the individual to become professional in his field. Additionally, it will give him the capacity to understand better what is going on around him. Which will promote his activism in his society.

personal-development

The capacity to learn by yourself is crucial and require practice. The distinction between learning in a classroom and learning by yourself is needed, as those are two different field and practices. Similarly to the education is a class room, the promotion of self education need to be promoted and maintained by both parents and teachers. 

The technological developments of the last decades, gives to the young generation tools that did not existed previously. It allow individuals to access information freely and rapidly. Moreover, it allow a personalized rhythm of learning and development based on self interest. I do not believe a bad choice exist, when self educating yourself. Any field – Painting, playing music, reading, signing etc. Is good as long as persistence and self development exist.

To convince a young person to learn what he likes, is not complicated. He just need to be exposed to the right platform and having the time to evolve. To support such a development, the role of parents and educators is to show support, reward on improvement , encouragement and promoting persistence. It is not important if the kid decide to change his field of interest. as long as he practice self education, a new skill is developing.

Giving this tool to our young generation, is crucial for their self development and the creation of a better society. The lack of interest of our current society in its state, the incapability of many to inquire new skills in the middle of their life and the lack of social engagement are all part of the lack of self education. Self education need to be part of any constructive education. As the society is a sum of its individual – By creating stronger individual, we will start creating a better society.

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