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Cryptocurrencies are a digital asset that uses cryptographic encryption to guarantee their ownership and ensure the integrity of transactions. But where do cryptocurrencies come from or what is their origin? It all begins in 2008 when the United States was going through a financial crisis that caused the devaluation of the dollar, which in turn affected the rest of the world. Due to the low value of the currency and the cut in interest rates, central banks manipulated and devalued currencies around the world. Eventually, with low-interest rates and taxpayer bailouts, the banks responsible for the financial problems were the ones who benefited from the “collapse”, this was the trigger for a man known as Satoshi Nakamoto whose identity remains unknown to this day to decide that there was a need to invest with a disruptive force, with something that could change the way we think about money. In 2008 he first published his paper on Bitcoin technology detailing the peer-to-peer system that runs Bitcoin transactions and months later provided the software to perform these transactions. Bitcoin would thus be the first completely decentralized currency open to all, without a central bank controlling it. This means that we are all part of the Bitcoin economy, instead of a bank defining how much it is worth and how much of it we have available in our economy. However this was not simple since it was necessary to have a global ledger of transactions in which transaction information is stored, normally a bank would be responsible for performing this procedure but being a decentralized system there is no associated bank this allows anyone to send a transaction request to the decentralized network and this makes the decentralized ledger very vulnerable to attacks. This was the main impediment to the creation of a functional cryptocurrency. So Satoshi needed to innovate and create the technology we now call “Blockchain“, which allows keeping the ledger secure using timestamps, a lot of decentralized computational processing power, and cryptography. Because of this, we can say that Bitcoin (BTC) is the origin and maximum representative of cryptocurrencies, which went from having a practically worthless value has achieved figures never imagined.

As we get deeper into the world of cryptocurrencies you can see how versatile they are and the number of operations that can be performed with them. International currency transfers, loans between individuals, investment projects, or even buying and selling of products and services, are some of the facilities they offer. Cryptocurrencies represent a completely different concept concerning fiat money, i.e. the currencies that you normally handle in your day-to-day life (euros, dollars, etc.). The way to manage them is different, although they are quite simple processes. Knowing the particularities of how they work is important to avoid any possible problems. Buying and selling coins: This is one of the operations to master; in fact, it is essential. Without this function, it would not be possible to make transactions with the cryptocurrency, because it would not have a value. Making transfers between individuals: Cryptocurrencies are an ideal way to transfer money from one place to another in the world, thanks to their immediacy, their total digitalization, their decentralization, or their absolute security derived from blockchain technology. And all these transactions can be divided as follows: Inputs: Inputs are references to an output of a past transaction that has not been used in any other transaction. They allow us to confirm the origin of the assets to be used in a transaction. Outputs: These contain the address to which the transfer has been made and the amount that has been sent. It also contains the exchange or returns addresses where the transaction returns are sent. Identifier (TXid): Each transaction will have its hash. This hash is generated from the inputs and outputs. This value is the one that allows identifying a transaction in a unique and unrepeatable way within a blockchain. Commission rate (fee): The commission is the small payment that miners receive for processing a transaction. Thus, the miner who generates a new block will receive a commission for each transaction processed within that block. The commission does not come explicitly in the content of a transaction, i.e. it is not associated with any output, since the miner who will receive that commission is not tasted. At The Blue Manakin, we are interested in educating people to learn more about the medium they are entering. Normally we might enter this diverse world thinking that the only thing we can do with our cryptos simply boils down to buying and selling. When really in a transaction we can find other concepts.

Those investors who have been doing hodl for a long time are known as Bagholders. Many times bagholders reach this level because they bought the coin when its price was high, thus keeping tokens that are worth little or nothing while hoping that it will go up again. Cryptocurrencies being a very volatile market, it happens that there may be large price fluctuations, just as every day new investors arrive eager to generate income at the moment. Even a percentage of Bagholders are people who have forgotten about their investments and have left them where they are. Bag holding is not something negative as it belongs to a term in the crypto world that refers to not selling your coins no matter how bad the market is because there is always the probability that it will go up again, this term is the Holding. We at The Blue Manakin always recommend that before making an investment in the cryptocurrency market we have to do our market analysis and never invest an amount that we cannot afford to lose. The cryptocurrency market has many changes so sometimes future investments are better than short-term ones, but it is up to us to take that risk.

One of the most curious features of Bitcoin is that the highest number of coins it can produce is predetermined since its creation at 21 million Bitcoin. This may be because the creator of Bitcoin (under the pseudonym Satoshi Nakamoto) determined that he wanted to generate a deflationary currency, like gold. If something is naturally limited it is more likely to have a cost. If Bitcoin could be produced indefinitely and out of control, it would have no cost (or could be quite temporary). Limiting their number increases the possibility that this asset, being limited, could eventually have a larger value. Now, what will happen once the 21 million Bitcoin limit is reached? Currently, about 16 million Bitcoin has already been mined, which is 75% of the final cost. It is believed that by 2032, 99% of the Bitcoin will have been mined. Bitcoin’s Halving is the process where every 4 years the reward that miners of the currency receive, decreases and it is less profit that they get in the long run this will make the costs of mining Bitcoin more expensive and there is a strong possibility that the number of miners that exist will decrease. With this in mind, as the production rate is going to be lower it is expected that this number will not be achieved until 2140 once the last Bitcoin is mined. Finally one of the reasons why Bitcoin has both values is because of its scarcity. This is why Bitcoin is more like a cost pooling asset (like gold) than a means of payment like a currency.

A peer-to-peer network is a different way of networking because it does not use a server station, but rather each “server” computer is the people who contribute to this system. A peer-to-peer network, peer-to-peer network, peer-to-peer network or peer-to-peer (P2P) network is a network of computers in which all or some aspects operate without fixed clients or servers, but rather a series of nodes that behave as equal to each other Moreover, they act simultaneously as clients and servers concerning the other nodes in the network. P2P networks allow the direct exchange of information, in any format, between interconnected computers. To participate in this peer-to-peer network, the user has to connect to the network through the software on his computer, which gives him the possibility of participating as a client or as a server; it is a decentralized model because, as already mentioned, there is no central server. Many applications such as Spotify or Napster started this way as a peer-to-peer network, but because offering music or movie services through decentralized servers is considered piracy, the model was changed. It was also due to Spotify’s growth that they decided to create a central server to offer the service. One of the advantages offered by this system is that each user can manage their equipment, without the need for technical knowledge, because everything depends only on the software and the number of users who are using it to have a greater reach. Although everything seems to be good it also has some disadvantages and the main one is that, although you do not have to have technical knowledge about how it works, you have to be very careful because if you do not have an antivirus system on your computer you can introduce the virus to the peer to peer network and have access to the information of all users who are within the network. Cryptocurrencies and blockchain technology use a P2P network so we at The Blue Manakin care to explain how this system works as it is something you will come across many times while browsing the crypto world.

Cryptocurrencies have become very popular in recent years, this is due to many reasons, but undoubtedly one of the most important has been through famous personalities in the medium that have made the voice of the crypto world. Crypto influencers are people who through their knowledge have been able to vouch for various projects that in some way have been successful. These people can make a project resonate around the world or remain as an idea that was just executed. But who are the most influential people? Now we will show the 10 people who resonate the most in this world: Vitalik Buterin Co-founder of Ethereum, Bitcoin magazine, and is one of the youngest crypto millionaires in the world. By following him you can have the latest on crypto and blockchain as he often shares opinions and articles that help more to understand these topics. Roger Ver  He is one of the first entrepreneurs who started to accept crypto as a form of payment and to adopt blockchain technology and has invested large sums of money in cryptocurrency-related startups. He is known as “Bitcoin Jesus”, Roger Ver was one of the first promoters of Bitcoin in 2011. On his feed, we can find the latest updates about bitcoin and the crypto world, with a touch of words of wisdom Andreas M. Antonopoulos He is the author of books explaining Bitcoin and the blockchain industry, such as Mastering Bitcoin: Unlocking Digital Currencies, Mastering Ethereum, and The Internet of Money. He is also known for being an advocate of Bitcoin and blockchain. Through his posts on his networks, we can learn more in-depth about the bitcoin and blockchain industry, just as he always does in life, and interviews that help educate on this world. Tim Draper Known for his forecasts on the price of Bitcoin, as well as his support for this particular digital currency. He is the founder of the venture capital firm Draper Fisher Jurvetson and Draper University, Tim Draper has invested in Skype, Tesla, SpaceX, Twitter, and Coinbase. With him, we can find opinions about bitcoin and cryptocurrencies, as well as new coin opportunities. Charlie Lee Founder of Litecoin and director of engineering at Coinbase is one of the most trusted sources of information about cryptocurrencies and how they work He also shares many updates about bitcoin and cryptocurrencies, but he also usually does so by sharing memes and comics with topics related to this world more humorously. Anthony Pompliano He is known as one of the pioneering supporters of Bitcoin and is the founder and partner of a hedge fund specializing in blockchain technology and digital assets. He is widely followed on all his channels, not just on Twitter. He shares discussions about bitcoin and cryptocurrencies, he also likes to talk about technology, business, and finance. Erik Voorhees founder and CEO of ShapeShift, one of the world’s leading cryptocurrency exchange platforms He is one of the most important voices, on Twitter, he always shares his ideas and on the medium, he shares articles talking about bitcoin and other topics. John McAfee  Ventured into cryptocurrency territory and has taken to Twitter to impart his analysis on the cryptocurrency industry and its multitude of developments. He is the developer of the famous antivirus and on his Twitter, he shares updates on bitcoin, along with analysis he does on its development. Tone Vays He is a financial and blockchain advisor who runs channels on various platforms and social networks On his networks, he talks about a variety of topics that address Bitcoin, including Bitcoin trading, Bitcoin law, and Bitcoin news. As well as some life lessons on the context of bitcoin and cryptocurrencies. Ivan on Tech Content creator specializing in blockchain technology. In his networks, he shares often with humor, his opinions about cryptocurrencies and Bitcoin and Ethereum updates. At The blue Manakin, we can help you get in touch with the best influencers to help promote your cryptocurrency project since we have a complete database and we can adjust to what your project and budget need.