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The value of currency tokens, such as bitcoin, is determined primarily by their ability to function as currency and a store of value.
The value of service tokens is determined by the popularity and usefulness of the network: for example, the amount of data that is hosted on the blockchain and the amount of information that is processed, as there are parties willing to pay fees for processing, validation, transmission and protection of data. These could be decentralized exchanges or companies hosting supply chain data on the blockchain, etc.
Asset tokens can be linked to the value of the real assets they represent.
Asset tokens can be valued based on investor sentiment and the progress of the project itself. What plays a role here is whether they are used in commerce and accepted by the real world, what voting rights their holders have, the potential and direction of the company, etc.
So what influences the price of tokens?
Now that we know what the source of value of tokens is, it’s time to ask this question.
Different projects and tokens may have different incentives or economic models that affect the price. Speculation aside, there are certain technical factors that affect the price regardless of investor sentiment.
Demand and consumption. This is likely the most significant factor in the question of token value, especially these days when the market is purely speculative in nature.
Popularity/utility. This factor has to do with answering the questions of whether there is any activity on the network and how widespread the token is.
Burn rate. Do tokens lose value over time? At what rate?
Circulation and reserves. How many tokens are in circulation? Is there an «untouchable reserve»?
Generation of secondary tokens (such as NEO/GAS, etc.).
Mining/premining. How many coins have already been released and what is the release schedule? Or have they all been mined already?
Satoshi Nakamoto – human or artificial intelligence?
Satoshi Nakamoto is considered to be the creator of Bloxxhain and Bitcoin technology. Until now, no one knows whether it is one person, a group of programmers or artificial intelligence.
There are a lot of facts, rumors around this name. There were several attempts to find out who is hiding behind this name, but they were unsuccessful.
According to one version, Satoshi Nakamoto is from Japan, but currently lives in the northeastern United States. Periodically, someone tries to catch the hype on Satoshi’s name and declares himself to be him. In the US, journalist Leah Goodman spent months investigating and looking for traces of Satoshi. She eventually managed to find a man of Japanese descent named Dorian Satoshi Nakamoto. However, the accidental namesake of the genius of the cryptoworld himself admitted that he had never heard anything about bitcoins.
Periodically, the media published articles proving that under the name of Nakamoto hides professor of economics Nick Sabo (Sobo), a mathematician from Japan Motizuki Shinite, the owner of crypto exchanges Ross Ulbricht and many others. The press also suggested that Nakamoto is Ilon Musk.
However, all these investigations remained only versions, not supported by reliable facts. The Satoshi candidates themselves deny their involvement in the creation of blockchain and bitcoin.
What do we know about Satoshi Nakamoto now? It is known that he owns almost one million bitcoins, making him one of the richest people in the world. In 2008, when blockchain came into existence, he was 37 years old.
As of 2010, Satoshi Nakamoto has officially stepped aside. No new publications or statements signed with that name have appeared again.
Technically, when bitcoin was created, there was a limit of 21 million coins. Satoshi also stipulated this rule.
If Satoshi Nakamoto decides to sell all his bitcoins at once, it will crash the cryptocurrency market and devalue bitcoin to almost zero.
Hopefully this won’t happen in the near future, bitcoin will remain the flagship of cryptocurrencies and what helps the whole system balance.
Is it possible to touch cryptocurrency?
Bitcoin and any other currency cannot be touched in person, nor are they minted by any mint in the world.
Although the most widespread and stable cryptocurrencies have their own symbols, on par with the dollar ($), pound (£), euro (€), ruble, and so on.
Bitcoin and other cryptocurrencies exist only in virtual reality. That said, they can be exchanged for real money.
Another difference between crypto and fiat money is that they arise themselves in the digital space. And anyone can produce (mine) bitcoin. No central bank or state is needed for this.
Cryptocurrencies appear through ICO (investment), as a result of mining (maintenance of special servers) and forging (forging) – the formation of new blocks (branches) in already existing digital currencies.
Nevertheless, today bitcoin and other currencies are quite realistically turning into living money – into houses, apartments, trips, yachts and other pleasures.
By the way, in the first year of Bitcoin’s creation, a legendary transaction was realized – the first purchase of real goods for cryptocurrency. For 10,000 bitcoins were bought two pizzas totaling $41.
So «wastefully» spent his savings American programmer Laszlo Hanyecz (Laszlo Hanyecz). The thread on the forum is still available at the link – https://bitcointalk.org/index.php?topic=137.0 (https://bitcointalk.org/index.php?topic=137.0).
Now convert that to the current exchange rate and grab your head. Today (July 2023 – ed.) 10,000 bitcoins are equivalent to $300 million US dollars, and the total capitalization of all cryptocurrencies is $1.2 trillion.
The most popular types of cryptocurrencies
According to https://coinmarketcap.com/, in July 2023, there are more than 10,000 cryptocurrencies registered in the world.
Of course, their value varies. And the fate of most small coins can turn out any way you want. Some coins will take off, some will disappear from the lists of exchanges. But nevertheless, the fact remains that blockchain technology allows you to create an unlimited number of types of crypto-money, the capitalization of which, depending on the exchange rate of major currencies (Bitcoin, Ethereum, etc.), the total approaching $ 300 billion (at the time of writing this material – this price is always fluctuating).
At the same time, the cryptocurrency market is characterized by high volatility. And this means strong fluctuations in the rate. In a matter of days, or even hours, the same bitcoin can collapse by several hundred dollars, and may even grow.
Hence, the potential of each new moment is quite high. It can grow by 50, 100 and even 1000 times. This is what makes it possible to move crypto markets and make money from them.
Each type of cryptocurrency has its own pros and cons, its own value and its own potential for growth.
But collectively:
● they are all universal,
● they can be exchanged for either other cryptocurrencies or fiat money,
● they can be saved,
● they can be used to pay for goods and services,
● their exchange rate is subject to supply and demand.
What are the most popular currencies today? Whose capitalization (the total value of all issued cryptocurrency coins) exceeds a billion dollars?
So far, the top 10 looks like this (data as of July 2023):
• Bitcoin.
• Ethereum.
• Tether.
• BNB.
• USD Coin.
• XRP.
• Cardano.
• Dogecoin.
• Solana.
• TRON.
Bitcoin (BTC) is the first and most widespread digital currency. All subsequent ones appeared on its basis.
Ethereum – the authorship of the currency is attributed to Vitalik Buterin. It is one of the most popular cryptocurrencies.
Tether is a cryptocurrency token issued by Tether Limited, which claims that its value is 80 percent provided by the stock of U.S. dollars in bank accounts or its equivalent. The main idea of the developers of this token is to provide cryptocurrency market participants with an opportunity to use a stable digital asset steyblocoin, the rate of which is tied to the U.S. dollar exchange rate and does not experience such strong fluctuations as the rates of other cryptocurrencies. Tether is issued on the Omni Layer platform, which is an add-on to the bitcoin blockchain.
Cardano is a decentralized public cryptocurrency project, a third-generation platform developed in the Haskell programming language. The project solves the problem of fast and cheap creation of decentralized applications and smart contracts in a secure and scalable way. It entered the market in 2015.
Is it easy to work on the cryptocurrency market?
The purpose of this book is to tell beginners about the crypto market and show that anyone can earn money in crypto. You don’t need to have any special education for this, you don’t need to buy a super-powerful computer for this.
You don’t need a lot of money to start working with cryptocurrency. Your first investment can start from 100 dollars.
Judging by these criteria, yes, it is easy to work on the market.
If you come just to play and then, after losing money, come out disappointed.
However, there can be another way. It is easy to work on the market, but you need to be patient and invest your time in learning and studying the rules of the game.
But first, decide: for what purposes do you need cryptocurrency, what do you plan to do on the market? In general, it is useful to define your goals every time you plan something new in your life.
What can be the goals when working with crypto?
The goal is to save your own funds. To save them from inflation and denomination by the state. To do this, you can make a portfolio of the top 5 leading cryptocurrencies and not worry when bitcoin suddenly goes down.
The goal is to make a quick buck on cryptocurrency. This goal is both realistic and quite risky. Why? The market is alive, it has high volatility, the situation on it can change in a matter of hours, for this you need to constantly keep your hand on the pulse and review the portfolio of coins every day. One should also know the mathematical laws, according to which one should invest in a particular currency. The chances that a particular coin will take off a few dozen times are small. It’s like winning the lottery. Will you be lucky or unlucky? We answer: the lucky one is the one who enters the market professionally and makes a portfolio professionally. In this case «quickly» can be from half a year to a year. Not a month, for example, as some inexperienced hamsters dream about it.
The goal is to become a trader and manage other people’s portfolios. This is an excellent goal, it allows you not to spend your own money, but to take other people’s assets under management at once. However, before going into consulting and portfolio management, you need experience and successful cases.
Goals may change, and that’s okay. You may want to become a trader, realize that it is not for you, but leave some assets in bitcoins and ethers just in case. Or you will enter the market cautiously to have a look around, but in time you will get involved and learn a new profession.
They say that to become an ace, a pilot needs to fly an airplane for 10,000 hours. It may take less time to become an ace at cryptocurrencies, but at a minimum, it will take you a few weeks or even months to begin to understand market movements, keep your finger on the pulse, and see how media reports and tweets can move the market.
Your advantage over where we were three years ago is that you will gain a lot of knowledge many times faster than we did. Good luck!
Where can I find information on cryptocurrencies fast?
Do you want to be a successful crypto trader and react quickly to all market movements?
The first and most important skill you should acquire when working with cryptocurrency is the skill of working with information.
To work with information is to be able to search, analyze, study and record everything that is related directly or indirectly to your topic.
It is also the ability to check the information you see for validity.
The criteria important for evaluating any incoming information are: credibility, timeliness, and reliability of the source.
In the world of crypto-money, decisions need to be made quickly, and there are times when the situation with coin rates changes in a matter of hours. One careless tweet can both help a coin to take off and drop it.
!Our advice! Follow the official Twitter accounts for each cryptocurrency. Do not wait for this information to be processed by the media, translated into Russian and disseminated.
Where to get data on official websites, Twitter accounts and other important news?
First of all, we recommend that you bookmark https://coinmarketcap.com/ (https://coinmarketcap.com/)
This is a portal that accumulates all the information on the existing cryptocurrencies in the world.
Here you can see in dynamics, at what rate coins are offered, how many coins are actually on the market now, on which exchanges they are traded.
The site is convenient because there is a Russian version, it has a clear interface, and for each coin you can get comprehensive information: cost, dynamics, links to official sites, Twitter, etc.
Official sites for the most popular coins:
Bitcoin – https://bitcoin.org/ru/ (https://bitcoin.org/ru/).
Ethereum – https://www.ethereum.org/ (https://www.ethereum.org/).
Cryptocurrency forum – https://bitcointalk.org/ (https://bitcointalk.org/).
Pro Blockchain Media Project
YouTube – http://www.youtube.com/c/PROBLOCKCHAIN (http://www.youtube.com/c/PROBLOCKCHAIN)
Website – https://pro-blockchain.com/ (https://pro-blockchain.com/)
Telegram – https://t.me/Pro_Blockchain (https://t.me/Pro_Blockchain)
VK – https://vk.com/problockchain (https://vk.com/problockchain)
Twitter – https://twitter.com/PRO_BLOCKCHAIN (https://twitter.com/PRO_BLOCKCHAIN)
Important: To avoid phishing attacks, pay attention to the spelling of the site name and whether it has an SSL certificate.
