Over the last month, there has been an influx of people asking me for advice on cryptocurrencies. One major problem I discovered was that most of the individuals that had asked me for advice have heard of Bitcoin, Ethereum, and other altcoins, but had no understanding of Blockchain. Little do they know that cryptocurrencies exist because of the Blockchain technology, and without truly grasping the concept of this revolutionary tech, it’s difficult to understand how digital currencies add value to our society. In my early stages of discovering the world of cryptocurrencies, I stumbled upon a youtube video hosted by Richard Etwaru that provides a great introductory to Blockchain. I hope this is helpful to those discovering and learning about cryptocurrencies.
The concept of “blockchain” was first explained by Satoshi Nakamoto in his 2008 Bitcoin whitepaper. Until today, it’s unknown who Satoshi Nakamoto is and whether he/she is one person or a group of people. The Bitcoin whitepaper has a good explanation of how blockchain works – check it out.
Disclaimer: CryptoCanucks.com is not intended to provide tax, legal or investment advice, and nothing on CryptoCanucks.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by CryptoCanucks.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.