Welcome to the puzzling world of cryptocurrencies...
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Recently, I discovered the strange and crazy world of cryptocurrencies. I mean I had heard about bitcoin but I never really looked into it too much. I didn’t trust it. It seemed strange to me that you could just invent a currency out of thin air and then all of the sudden it’s worth more than all these other legitimate currencies.
Also it seemed strange to me that you could just “mine” these currencies with your computer. And how do you mine them? Well you’re computer solves really complex math problems and then gets rewarded with a piece of cryptocurrency.
Weird right?
Does that leave you with a bunch of questions about how and why that even works? How is it possible that my computer can solve a math problem and all of the sudden I get a piece of digital currency that I can exchange for good ol’ USD that I can spend?
It’s seems strange to me.
Too good to be true even…like not real.
And when I don’t understand something I typically don’t like to invest in it. I need to be able to “get it.”
Anyways, I have been taking a more serious look at crytpocurrencies lately because of a new platform I discovered called Steemit.com which pays you in the cryptocurrency “steem” for creating content and publishing it on the site. It’s an interesting world filled with questions that get answered and actually spawn 3 more questions when they do.
It’s that kind of place, filled with lingo like “halving,” electricity rate consumption, and extremely expensive computers that are built to do nothing but “mine” bitcoin.
And that world led me to a youtube channel called Ryan Hustle B, which is fantastic by the way. Ryan teaches people various ways to make money online, but a lot of his videos focus on the subject of Cryptocurrencies and he does a great job of breaking it down for people.
One really cool aspect about Ryan is that he shows people how to get into cryptocurrencies without actually investing any of your own money. Very cool because I mean…who doesn’t like to dip a toe?
So I invited Ryan to come on the ZeroFatzReturns show and talk about CryptoCurrencies. It was a great chat and I really appreciate him coming on to answer some of my questions on the topic. Thanks Ryan! Max Respect!