Cryptocurrencies
Understanding
Victor Aguilar C.
PAINT EXPERT :)
What
We'll talk about ...
Why
Which
Advantages/Risks
Let's talk about cryptocurrencies first
Stage 1
Stage 2
Stage 3
Stage 4
Stage 5
TRADING
BACKED BY RESOURCES
GOVERNMENTS SUPPORTED
BACKED BY TRUST IN THIRD PART
SUPPORTED
BY US
Deductions
-
Currencies are not backed by resources anymore
-
Currencies are basically trust
-
We are doing transactions using currencies
-
We are trading trust all time
-
Our actual financial system has a lot of problems
Let's understand how a transaction works
A11
A21
Balance: 1000 MXN
Balance: 500 MXN
100 MXN
Transaction
A11
A21
Balance: 1000 MXN
Balance: 500 MXN
100 MXN
A11: -100 MXN
A21: +100 MXN
Balance: 900 MXN
Balance: 600 MXN
100 MXN
Bank Database a.k. LEDGER
....
Ok, What is a LEDGER?
Is just a registry like an account book where the banks put all transactions are happening
Imagine that as a giant spreadsheet
A11: -100 MXN
A21: +100 MXN
- Transactions
- Credits
- Investments
- ...
The LEDGERS are more common than we think
- Identifications
- Taxes
- Property Notes
- ....
- Students Reg.
- Grades
- Degrees Reg.
- ....
A11: -100 MXN
A21: +100 MXN
- Bank has no service
- Blocked Account
- Out of service hours
- Hacked Accounts
- Technical Issues
- Tampered accounts
- Etc, etc...
There are many ways that the banks' ledgers to stop being reliable
What would happen if there were no banks or intermediaries?
How the transactions would work?
Can you imagine a world without intemediaries?
addr1q8.....xyr
addr1x0.....xyz
addr1x0.....puo
addr1x0.....twe
addr111.....abc
-1
-1
...
+1
-1
+1
+1
-1
-1
...
+1
-1
+1
+1
-1
-1
...
+1
-1
+1
+1
-1
-1
...
+1
-1
+1
+1
-1
-1
...
+1
-1
+1
+1
BLOCKCHAIN
So, crytocurrencies are:
A trustable, cheap, decentralized way to make transactions between us without intermediates
A cryptocurrency is in fact a big global network
Descentralized => NO banks or government
Why is called as crypto?
It's like the SAT Fiel Keys
Trustable => Criptography, math, technology
Cryptography
- Each one has private/public keys
- Transactions are encrypted with those keys
- The cryptography is base on math and advanced algorithms that are too difficult to hack
International Transfer
COMPARISON
SWIFT
Cheap => Without Restrictions/Comissions
COST: aprox 3% per participant bank / country limited
COST: has flat price in cents depending of cryptocurrency
Let's talk about what Cryptocurrencies there are
Bitcoin
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Was the first Cryptocurrency
-
It starts in 2009
-
Created by Satoshi Nakamoto (unknown)
~100 M Users
~200 M Wallets
~53 M Merchants
There are around 5000 cryptos nowadays
BITCOIN
ETHERUM
CARDANO
etc, etc ...
SOLANA
How many Fiat money are there?
Should do I invest in cryptocurrencies?
If it's your first investment, I think it could be too much risky
There are some "meme" cryptocurrencies
I advise you get more info about it, so you can take and advantage of that
Final thoughts
Questions?
Myth: The cryptocurrency bubble is about to burst.
Fact: In the last decade, cryptocurrencies breached the $1.3-trillion mark, making them the world’s top-performing asset class.
Myths and Facts
Myth: There is only one blockchain.
Fact: There is one blockchain for each cryptocurrency (but not only).
Myth: Cryptocurrencies have no intrinsic value.
Fact: Cryptocurrencies do not need to be backed by a commodity to hold value.
Myth: Cryptocurrencies are only used for illicit and dubious activities.
Fact: Far more Dark Web transactions are undertaken with fiat currencies than cryptocurrencies.
Myth: Cryptocurrencies are unregulated.
Fact: Cryptocurrency regulation is on the rise.
Cryptos
By Victor Aguilar
Cryptos
Esta charla es acerca de CDK, una herramienta con la que puedes construir infra con las técnicas de desarrollo y programación que conoces.
