The internet is filled with good explanations of all things Blockchain, to include all other related information pertaining to cyptocurrency and the technology supporting it. Due to all the resources available, it can be difficult to filter through all the websites and find the information you are looking for. These are some of the articles we came across that helped us understand the space better and we hope it helps you too. Although this list contains similar articles, each one includes additional details or explanations that others did not. If you know of any articles that should be added to our list, please contact us. - Blockchain -1: How Does the Blockchain Work? (June, 2016) – Michele D’Aliessi 2: Blockchain Explained: The Ultimate Guide to Understanding How Blockchain Works (March, 2018) - Ray King 3: What is Forking? – Hard Fork and Soft Fork in Cryptocurrency 4: Blockchains & Distributed Ledger Technologies 5: Review of the 6 Major Blockchain Protocols – Bryant Nielson 6: Guide to Forks: Everything You Need to Know About Forks, Hard Fork and Soft Fork – Aziz - Cryptocurrency -1: Types of Cryptocurrency (April, 2018) - Adam Levy 2: Token vs Coin: What’s the Difference (March, 2018) - Ray King 3: Different Categories of Cryptocurrencies (January, 2018) - Phil Glazer 4: Understanding the Different Types of Cryptocurrency (March, 2018) – Ray King - Wallets -1: Cryptocurrency Wallet Guide: A Step-By-Step Tutorial (2017) – Ameer Rosic 2: How to Choose the Best Cryptocurrency Wallet (April, 2018) – Ray King 3: Guide To Cryptocurrency Wallets: What Do You Need To Know? - Aziz 4: My EtherWallet Review: Full & Detailed Guide (April, 2018) – Ray King - Investing -1: Cryptocurrency Trading for Beginners: How to Start? (March, 2018) – Ray King 2: What is an ICO? Understanding Initial Coin Offerings (April, 2018) – Ray King - Miscellaneous -1: Decentralized Application: What is a dApp? (March, 2018) – Ray King 2: What Is a Smart Contract and How Does It Work? (March, 2018) – Ray King 3: A Complete Guide On What Is Bitcoin Mining and How Does It Work? (March, 2018) – Ray King 4: What Is a Bitcoin and How Does Bitcoin Work (March, 2018) – Ray King 5: Beginners Guide: What is Bitcoin? (August, 2017) - Vincent Wondra 6: Cryptocurrencies are the "future of money": The United States Congress (July, 2018) Resources: Hackernoon.com | BitDegree.org | Cryptodecoding.com | Coincentral.com | Bitcoinwarrior.net Disclaimer: I am not a financial advisor, nor am I giving suggestions, recommendation, guidance, advice, or tips. I am simply stating my opinion and giving my observations of the market, Cryptocurrency, or other related topics. If you decide to act on or follow any of the information provided (past, present, or in the future) you are doing so on your own free will and not on my recommendation. Thank you for reading this article. We hope you found it entertaining. If so, please share it with others and don't forget to leave a comment down below! The world is a large place, and life is short. Together, we can accomplish much more than we ever could alone.
-Bourn Adventure Author: Baker
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Cryptocurrency (crypto) pretty much got its start in 2009 with the creation of Bitcoin. Early adopters saw the advantages of the genius technology behind Bitcoin, but for the most part cryptocurrency laid dormant for several years. Due to media attention, word of mouth, and social media, cryptocurrency saw an influx of activity in 2017. People from all walks of life, living all over the world took notice as the market capitalization of cryptocurancy began to rise. Wide-eyed and eager to make money, people began investing without understanding what this “new” fangled blockchain technology was. To their credit, there are a lot of confusing words, terminology, acronyms, and definitions that get thrown around in the crypto space, which can be difficult to keep up with. Much like the stock market, the crypto market is a place where investors can see some serious gains or losses depending on how they invest. There is always a risk when investing money, but even more so when one does not understand the space they are operating in. Our goal is to help educate people who are just entering crypto by putting the most commonly used verbiage into one easy to locate area. This is something we wish was available when we first started lurking around. Keep in mind, these are basic definitions, not full historical or technical break downs of how the technology works. There are numerous articles out there that explain in depth that type of information. To make life simpler for you, we have compiled a list of informative articles, which we found extremely helpful. (click here to see our list). Nonetheless, this is a good starting point. Cryptography: The art of writing or solving codes. Hash Function: Any function used to map data of arbitrary size to data of fixed size. Cryptographic Hash Functions: Take data of any length as input and output a shorter, fixed length hash, which can be used for a digital signature. Cryptocurrency: A digital asset, which works as a medium of exchange that uses cryptography to secure transactions, control creation of additional units, and validate asset transfers. Blockchain: A digital database, similar to an open ledger. Nodes: Network containing many computers. Consensus: Group agreement among nodes through mining. Mining: When nodes verify transactions/data, they are rewarded for their work, usually a predetermined/specific amount of currency native to that blockchain. Block: When nodes verify a transaction, the information/data is added to a block (hence the term Blockchain) and protected using cryptography. Symmetric Cryptography: Sharing a key between sender and receiver (cryptography techniques). Wallet: A means (online/hot/mobile or cold storage) to store and protect digital assets with the use of keys. Public Key: A key that is public and allows for receiving digital assets only (think of it as your email address). Private Key: A key that is private/secret and allows the sending of digital assets (think of it as the password for your email address). Smart Contract: A computer protocol which digitally facilitates, verifies, or enforces the negotiations or performance of a contract. Coin: A digital asset native to its own blockchain (NEO, Bitcoin, Litcoin, ect.) Token: A digital asset created on existing blockchains (ETH/ERC-20 or NEO/NEP-5) Alternative Coin: Anything other than Bitcoin. Store of Value: An asset that can be saved, retrieved, or exchanged at a later date and be predictably useful when used. Peer-to-Peer: A distribution application architecture that partitions tasks or workloads between peers within a network. Market Capitalization: Total dollar market value of a company’s shares or assets. Also known as Market Cap. Bull Market: Trending up. Bear Market: Trending down. Purgatory Market: Limbo, not moving that much in either direction. Exchange: A place to purchase or trade cryptocurrency. Fiat Currency: Legal tender whose value is backed by the government who issued it. Pump and Dump: An asset that within a short time has been deliberately manipulated by certain investors with the intention to increase price (pump). Once the value is raised, they quickly sell, causing the asset price to fall rapidly (dump). Moon: When a coin or token takes off and the value skyrockets. Could be the result of natural or popular growth or due to a “pump and dump”. Bag/Bags: Left holding a bag or bags of poo after buying an asset or assets when it was high and now it is worth much less. Altcoin: Anything other than Bitcoin. DApps: Decentralized Applications ICO: Initial Coin Offering (similar to a Initial Public Offering on the stock market) KYC: Know Your Customer (typically used by ICOs or exchanges as a way to verify their investors) ROI: Return on Investment P/E Ratio: Price-Earning Ratio (sometimes referred to as the price multiple or the earnings multiple is a calculation to help determine the amount of money an investor is willing to pay for current earnings) TA: Technical Analysis DCA: Dollar Cost Averaging (spreading buys and sells over a period of time to reduce portfolio volatility ATH: All Time High (pertains to the highest price/market cap an assets has reached) ATL: All Time Low (pertains to the lowest price/market cap an assets has reached) RSI: Relative Strength Index (measures the speed and change of price movement, which oscillates between zero and 100. Often times the RSI is considered oversold below 30 and overbought above 70) FUD: Fear, Uncertainty, and Doubt or Disinformation (news, real or fake, that could or does causes sell off of an asset or assets) FOMO: Fear of Missing Out (rushing into an investment while its on the rise). Could lead to holding bags HODL: Hold On for Dear Life or Hold (don’t sell/long term/ride it out) IoT: Internet of Things (a network of devices and other items equipped with software and other electronics that allow objects to connect and exchange information) P2P: Peer-to-Peer DLT: Distributed Ledger Technology (a consensus of digital data spread across multiple platforms) PoW: Proof of Work (measure to deter service attacks and abuse by requesting and requiring work from the user/computer/network) API: Application Programming Interface (set of subroutine definitions, protocols, and tools for building application software) Dev Team: Development Team Resources: New Oxford American Dictionary | BitDegree | Wikipedia | Investopedia Disclaimer: I am not a financial advisor, nor am I giving suggestions, recommendation, guidance, advice, or tips. I am simply stating my opinion and giving my observations of the market, Cryptocurrency, or other related topics. If you decide to act on or follow any of the information provided (past, present, or in the future) you are doing so on your own free will and not on my recommendation. Thank you for reading this article. We hope you found it entertaining. If so, please share it with others and don't forget to leave a comment down below! The world is a large place, and life is short. Together, we can accomplish much more than we ever could alone.
-Bourn Adventure Author: Baker A few days ago when the crypto market was a sea of red, I was scrolling through the top 100 on coinmarketcap.com when I stumbled upon a high climbing coin I had not heard of before. Now, I have only been in this space for several months, so it was no surprise I had not seen this coin before as there are so many, but the name is not what caught my attention. You see, as I was scrolling through, I was focusing on the "Change" tab which shows the percentage (up/down) of change for each coin or token within a 24 hour period. This particular coin had a positive change of 2,156.20% while the others, above and below, were ranging from negative 5.70% (red) to positive 9.48% (green). Although the change was showing green, the percentage was a red flag to me. After seeing that, I curiously clicked on this fast-moving, must have crypto which goes by the superhero name of E-coin. Superhero? Of course! It was the only coin that was successfully battling and surprisingly beating this bearish market we were in at the time. Not only was it beating the bear, but it was also roundhouse kicking it, with both feet, right in the baby maker. Upon closer examination, it appeared E-coin (ECN) was less of a superhero and more of a manipulation, which meant, impulsive "when Lambo?" investors would be the lucky recipients of those kicks. If some, most, or all of the other coins or tokens had similar rapid growth, then maybe 2,156.20% change would not be so out of place, but since nothing, anywhere, was remotely close to that, it's what the F.B.I. would call, a clue. -Screen shot from Coinmarketcap.com I put on my snazziest Columbo tie and dug in a little deeper. Looking at E-coins (ECN) history charts, I noticed it had never seen movement like this before. At the time, E-coin (ECN) was trading for $127.96 USD per coin, with an all-time high (ATH) of approximately $23.12 USD. Throughout its history, it has had several spikes, but for the most part, it was reasonably level. Shortly before jumping to 31 in the top 100, the price was hovering around $6.00 USD per coin. -Screen shots from Coinmarketcap.com To me, this signaled a "pump and dump." If you are not familiar with that term, basically it means, a group (typically organized) using a specified marketplace/exchange invests heavily into a particular coin or token (can also apply to stocks) at a lower price with the intention to sell everything at a higher price. This sudden, large movement drives the price up, causing that Cryptocurrency to gain attention and attracting more investors (most unaware of the sell plan) thus pumping it higher. Suddenly, massive amounts of coins or tokens are sold off, causing that crypto to fall or dump drastically. Usually, this sell-off occurs once that crypto reaches a predetermined worth, on a predetermined date/time, or there is a sell command internally given to those in the "know." Those who are outside of the "know" who bought on the high are now left holding bags of poo and getting roundhouse kicked in the adult area. There are three types of investors involved in a "pump and dump." 1: Those initiating and controlling it (in the know) -little to no risk as long as they sell when it is time 2: Those who see it, identify it and want in on the action (outside of the know) -Medium risk, but requires said investor to actively watch the market in real time and wait for visible signs of sell-off. If not and it dumps before said investor can sell it, they can take heavy losses 3: Those who do not recognize it, but invest because they see huge gains (outside of the know) -High risk and heavy losses are almost always guaranteed On top of the apparent "pump and dump," I noticed another odd thing. The E-coin website was not loading, which might be because of a high volume of traffic, the link was broken, or the website was nonexistent. Given the information and multiple red flags, I knew this was not an investment opportunity for me. I'm sure there were people who saw this and FOMO'ed (fear of missing out) in and bought high. Once the dust finally began to settle, E-coin was nestled in the 348th spot and worth $3.53 USD per coin. A difference of $124.43 USD in less than eight hours. It was the only red in a sea of green. Several hours after that, it continued to drop in value and rank. -Screen shot from Coinmarketcap.com Looking at the coin or token history charts, you can see when "pump and dumps" took place. This was the first time I had seen one on the pump. When I identified it, I decided to take pictures, follow the action and stick around for the aftermath of the dump. I figured this might be beneficial information to help prevent people from becoming the third type of investor during an active "pump and dump." The ability to identify these types of market manipulation can mean the difference between a profitable investment or a loss of investment. It is essential to understand, just because a coin or token is doing well, does not mean is it a victim of a "pump and dump." It is up to you to identify any positive or negative indicators and determine if the growth is natural or unnatural. Also, "pump and dumps" might not follow the same type of inflated and aggressive rise up as demonstrated here with E-coin, it could be more subtle with a longer gestation period before sell off. It is also worth noting, "pump and dumps" are not just specific to a coin or token. If enough large investors get together, they can influence the market, causing a potential "pump and dump" on a massive scale. Disclaimer: I am not a financial advisor, nor am I giving suggestions, recommendation, guidance, advice, or tips. I am simply stating my opinion and giving my observations of the market, Cryptocurrency, or other related topics. If you decide to act on or follow any of the information provided (past, present, or in the future) you are doing so on your own free will and not on my recommendation. Thank you for reading this article. We hope you found it entertaining. If so, please share it with others and don't forget to leave a comment down below! The world is a large place, and life is short. Together, we can accomplish much more than we ever could alone. -Bourn Adventure Author: Baker Outside of traveling, photography, vehicles, and other interests, we have recently become involved in Cryptocurrency. We are still relatively new to this space. Several months ago we decided to dip our toes in the market to get a feel for it. Since then, we have jumped into the deep end. After the metaphorical dive (us, not the market) we have learned a decent amount of information regarding the technology behind crypto, the markets, and of course, the coins/tokens themselves. Every day more knowledge and experience is gained. I make a conscious decision to digest as much information as I can on all things related to crypto. Why? Because I want to make informed, well-thought-out investments rather than just blindly handing money over in hopes of success. I will be the first to admit, I have made several mistakes (learning points) since starting, and I'm sure I will make more along the way, but I have no problem calling myself out and sharing that information in future articles. GoalsOur goals with any upcoming Cryptocurrency articles is to share our experiences, thoughts, failures, successes, and anything else that might be beneficial to people, especially those new to Cryptocurrency. How Does Crypto Tie Into Travel?What we have learned is, a lot of people within the "travel/adventure" community are also involved with crypto, which makes sense. Here are a few of the reasons why I say this:
By no means are we experts in this field. We are just starting, but that doesn't mean we can't share what we have learned with others. We have no intention of abandoning our travel content; the Cryptocurrency related articles is what is known in south Louisiana as, Lagniappe (something given as a bonus or gratuity). Since we believe in the possibilities of crypto and the crossover between it and travel, it only makes sense that we would cover this space too. We hope that you will continue with us as we journey down this new path. I hope you found this article enlightening. If so, please feel free to interact with us in the comment section of this post. Disclaimer: I am not a financial advisor, nor am I giving suggestions, recommendation, guidance, advice, or tips. I am simply stating my opinion and giving my observations of the market, Cryptocurrency, or other related topics. If you decide to act on or follow any of the information provided (past, present, or in the future) you are doing so on your own free will and not on my recommendation. Thank you for reading this article. We hope you found it entertaining. If so, please share it with others and don't forget to leave a comment down below! The world is a large place, and life is short. Together, we can accomplish much more than we ever could alone. -Bourn Adventure Author: Baker |
AuthorsBaker and Ashlie are the owners of Bourn Adventure and together they author the majority of the articles and content found here. Guest AuthorsCheyenne Izaguirre Categories
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