Crypto beginner doubts

[mad_foodie]

Hi friends,

Could you please spend 2mins to clarify my below doubts about cryptocurrency. Sorry if i sound like crap. Iam just trying to understand and couldn’t figure this out on my own.Thanks in advance

1. How is crypto different from fake notes. Because companies will start their new cryptocurrency and selling it and it becomes an alternate currency over time. For me it sounds like people printing fake notes and selling them

2. Anyone can start their own crypto. Over the time there will thousands of coins, is there ant formal process it goes through before coming to market

[sri_india]

One coin Ani youtube lo search chesi chudu

[ammoru_talli]

2 mins lo 2 Lines lo cheppadam kastam.

1. Niku traditional banking ela work avtundo telusa ? Oka central org.  untundi say any bank. You deposit your money in that bank, others do as well. So every transaction you do with anyone, bank authorise cheyali. Kani crypto ala kadu, it works on peer to peer. So secure transaction happens between two if they both authorise it. 
 

2. yes, any one can start their own crypto. But generate cheyagane saripodu. Everyone has to accept it and use it. Miners undali block chain of transactions ni continue cheyadaniki.
 

 

 

[Deadp0ol2]

Crypto is safe secure and anonymous way to do transactions. Initially people started using btc more on dark net for gambling,  illegal activities as a safeway to do transactions.

Basic ga Banks and Governments ki bokka crypto use cheyadam start chesthe....Economics maarpotadi, money is distributed uneven so mostly it would be used for trading and gambling like stocks. 

[rajanikanth_tv9]

1 hour ago, sri_india said:

One coin Ani youtube lo search chesi chudu

OneCoin is a Ponzi scheme promoted as a cryptocurrency by Bulgaria-based offshore companies OneCoin Ltd (registered in Dubai) and OneLife Network Ltd (registered in Belize), both founded by Ruja Ignatova in concert with Sebastian Greenwood. OneCoin is considered a Ponzi scheme due to its organisational structure and because of the previous involvement of many of those central to OneCoin in similar schemes. It was described by The Times as "one of the biggest scams in history".

[TriStateBabu]

27 minutes ago, Deadp0ol2 said:

Crypto is safe secure and anonymous way to do transactions. Initially people started using btc more on dark net for gambling,  illegal activities as a safeway to do transactions.

Basic ga Banks and Governments ki bokka crypto use cheyadam start chesthe....Economics maarpotadi, money is distributed uneven so mostly it would be used for trading and gambling like stocks. 

bhayya anonymous anaku, you know it is not. 

[rajanikanth_tv9]

1 hour ago, mad_foodie said:

Hi friends,

Could you please spend 2mins to clarify my below doubts about cryptocurrency. Sorry if i sound like crap. Iam just trying to understand and couldn’t figure this out on my own.Thanks in advance

1. How is crypto different from fake notes. Because companies will start their new cryptocurrency and selling it and it becomes an alternate currency over time. For me it sounds like people printing fake notes and selling them

2. Anyone can start their own crypto. Over the time there will thousands of coins, is there ant formal process it goes through before coming to market

in my opinion (as per my knowledge...)

bitcoin purpose is to replace the currency, but it lost its purpose become commodity for trading

once the cryptocurrency battle(miners..etc) is over you can convert your crypto currency to winner

How does Converting Cryptocurrency work?

Users can trade between two currencies directly. For example: exchanging Ethereum (ETH) with Bitcoin (BTC), or vice versa.

[Deadp0ol2]

4 minutes ago, TriStateBabu said:

bhayya anonymous anaku, you know it is not. 

anonymous kaakapothe Crypto lo inni scams enduk aithai evad enduk dorkadu

[TriStateBabu]

5 hours ago, Deadp0ol2 said:

anonymous kaakapothe Crypto lo inni scams enduk aithai evad enduk dorkadu

Fbi, interpol vaallu track chesthunnaru all crypto transactions. Inka tax batch irs kuda I think. Nothing is fully anonymous bro 

[mad_foodie]

Thank you all for your responses but istill didnt get an answer for question( atleast i didn’t understand). Could some one  explain  it short and simple. Thank you

1. How is crypto different from fake notes. Because companies will start their new cryptocurrency and selling it and it becomes an alternate currency over time. For me it sounds like people printing fake notes and selling them

[Peter123]

crypto is indirectly proportional to fake:

Crypto has no value, for example BTC today is 29k, after a week it may become 0$ also, there is no company there is no value, there is level 2 data, there is no earnings reports, there is nothing, its a coin in the air, that someone created, since many invested, it created a value, tomorrow if it becomes 0, there wouldnt be any surprise, cos there is NO record for it. 

 

 

 

[dasara_bullodu1]

Unless you do in bulk mining crypto can be more expensive than crypto itself

Also the number of coins per block reduce by half every 4 yrs so now it will be 3.5 per block.. while it started at 50

[pittagoda]

On 12/29/2020 at 9:27 PM, mad_foodie said:

Hi friends,

Could you please spend 2mins to clarify my below doubts about cryptocurrency. Sorry if i sound like crap. Iam just trying to understand and couldn’t figure this out on my own.Thanks in advance

1. How is crypto different from fake notes. Because companies will start their new cryptocurrency and selling it and it becomes an alternate currency over time. For me it sounds like people printing fake notes and selling them

2. Anyone can start their own crypto. Over the time there will thousands of coins, is there ant formal process it goes through before coming to market

DOT coin tesko.

[mad_foodie]

On 12/29/2020 at 8:53 PM, rajanikanth_tv9 said:

in my opinion (as per my knowledge...)

bitcoin purpose is to replace the currency, but it lost its purpose become commodity for trading

once the cryptocurrency battle(miners..etc) is over you can convert your crypto currency to winner

How does Converting Cryptocurrency work?

Users can trade between two currencies directly. For example: exchanging Ethereum (ETH) with Bitcoin (BTC), or vice versa.

Even though it is replacement for money, dollar or rupee or any currency is managed by government with help of banks but crypto lo evadiki vadu kotha coin invent chesi money cheskuntaru. So adhi same like fake note pront chesi amminatle kadha. What dies government get out of it. Iam mot against but this is my opinion and trying to understand more

[AvramFaind]

Hey, no worries at all! It's totally cool to ask questions and seek clarification when diving into the world of crypto.The crypto vs. fake notes analogy is an interesting one. While companies can create their own cryptocurrencies, the key difference lies in the underlying technology. Cryptos are typically built on blockchain, a transparent and decentralized ledger that records all transactions. This makes it harder to counterfeit or manipulate, unlike fake notes.You're absolutely right; anyone can start their own crypto, and that's why there are thousands of coins out there. However, before they come to market, some go through a formal process, like Initial Coin Offerings (ICOs) or Security Token Offerings (STOs). These involve legal compliance, disclosure of project details, and fundraising processes. Others might simply launch and gain value through adoption. It's a diverse space!By the way, if you ever need to exchange crypto, there's a neat service for swapping Advanced Cash to Skrill. It's handy for managing your digital assets.