Cryptocurrency and Blockchain 101: A Beginner’s Guide to the Digital Revolution

Discover the Fundamentals of Blockchain, Bitcoin, and the Crypto World — Simplified for Everyone

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Non-Medium members read the full post here.

Introduction

Hello, dear readers!

From now on, Tuesdays will be dedicated to cryptocurrencies and blockchain technology. Each article I write will focus on one term commonly used in the crypto community. If you have any ideas or suggestions for a topic, feel free to share them in the comments, and I’ll do my best to cover them.

We’ll start with the basics and gradually progress step by step through short articles, building knowledge about the world of digital cryptocurrencies. I hope to make this journey through the crypto world engaging and educational for you.

The History and Origins of Blockchain

The history of blockchain technology dates back to the 1980s and 1990s when David Chaum introduced the concept of digital currency called eCash in 1983. However, the blockchain as we know it today was defined and described in 2008 by an unknown person or group using the pseudonym Satoshi Nakamoto, whose identity remains a mystery to this day.

Satoshi Nakamoto is also credited with creating the first functional cryptocurrency, which you’ve likely heard of — Bitcoin. Today, Bitcoin has reached unprecedented value.

Imagine this: when Bitcoin first emerged, it was worth just a few cents. Now, its peak value is unimaginable!

As the author of this article, I must confess I once had the chance to obtain Bitcoin for next to nothing over a decade ago. But, being naive and uninformed, I missed the opportunity. Learn from my mistakes!

What Exactly is Blockchain?

Blockchain is a decentralized, distributed, and secure digital ledger that records all transactions on a network.

Essentially, it is a one-way chain of data blocks, where each new link — or block — depends on the value of the previous link. This connection is based on cryptographic principles.

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Without blockchain, no cryptocurrency can exist. Blockchain solves the challenge of creating a distributed database without relying on a central authority to oversee transactions. This means there is no need for a central body like a bank to monitor and approve transactions. Instead, power is transferred into the hands of ordinary people.

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What Are Cryptocurrencies?

Cryptocurrencies are digital or virtual assets that operate on blockchain technology. They use cryptography to secure transactions, control the creation of new units (mining), and verify fund transfers.

Cryptocurrencies are decentralized, meaning they are not governed by any central authority, such as a bank. Instead, the power lies in the hands of the crypto community. Some of the most well-known cryptocurrencies include:

• Bitcoin (BTC): The first, most popular, and oldest cryptocurrency.
• Ethereum (ETH): Known for enabling smart contracts and decentralized apps (dApps).
• Other notable cryptocurrencies: Ripple, Cardano, Litecoin, Shiba Inu, and more.

Crypto Term of the Week: HODL

That’s it for today’s basics! As promised, the articles will be short and to the point. Now, let’s move on to the crypto term of the week!

This week’s term is frequently used, fundamental to the crypto community, and highly popular: HODL.

HODL stands for “Hold On for Dear Life” and refers to the practice of holding onto a cryptocurrency for the long term, regardless of market volatility, with the belief that its value will increase over time.

The term originated on December 18, 2013, when a user named “GameKyuubi” posted a thread titled “I AM HODLING” on the BitcoinTalk forum. Frustrated by the constant fluctuations in the crypto market, the user expressed their intention to hold onto their Bitcoin instead of selling it. However, due to a typo, he wrote “HODLING” instead of “HOLDING.” The rest is history.

What started as a simple typo has since evolved into a philosophy embraced by the crypto community, becoming an integral part of crypto terminology today.

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Greetings and until my next article!

Neo77

How AI is Shaping the Future of Work: Should You Be Concerned About Job Security?

Can AI Really Take Your Job? The Secrets and Truth About Automation and AI Stealing Your Employment

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Non-Medium members read the full post here.

Introduction

Hello to you all my dear readers!

This article is the first in a series on artificial intelligence that will be published every Monday. Today’s topic is about the potential impact of artificial intelligence on job losses and I hope you will find it interesting. Feel free to comment and ask questions on this topic, and if you have any suggestions for what you would like me to write about in the next article, do not hesitate to write them in the comments.

The Adoption of AI

AI adoption has surged in recent years, with studies showing that over 35% of businesses worldwide are now using AI in some form, from streamlining operations to enhancing customer experiences. It has rapidly integrated into nearly every aspect of society, revolutionizing how we work and live.

It’s no surprise that many of you might have valid concerns about possibly losing your job because of it. But how justified is this fear, and is it reasonable to worry about your position?

Should we, ordinary people, embrace this new technology, or should we, like John and Sarah Connor, lead a holy war against the ominous machines intent on destroying humanity?

AI in Everyday Use

Indeed, AI is already being used in art, content writing, customer support, application coding, and many other areas. It’s also employed for healthcare and military purposes. However, if we dig deeper and analyze the situation thoroughly, we’ll realize there’s little to fear — at least for now.

As someone who uses AI daily, I can confidently assure you that machines won’t easily replace us, at least not shortly. Artificial intelligence driving drones or autonomous cars is truly remarkable and can be considered a masterpiece of engineering.

AI systems like ChatGPT, image generation programs, and similar applications are something we couldn’t have even dreamed of just a few years ago.

Yet, I believe, there is still significant room for improvement, and none of these programs are close to replacing humans.

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A drone, a self-driving car, or a smart bomb is only as effective as the human who created it. Remove humans from the equation, and these become a pile of useless junk that cannot operate or think on their own.

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The Limits of AI

AI-generated images and texts may appear flawless at first glance, but a closer analysis reveals they are riddled with imperfections and far from perfect. Their quality depends entirely on the prompt crafted by an AI prompt engineer.

As you can see, machines won’t be rebelling or taking control of weapons to annihilate us anytime soon, nor will they steal our jobs. They lack the most essential tool humans possess — the brain.

Despite all its advancements, AI has yet to replicate human-like thinking. Its entire “thought” process boils down to strictly following the commands and parameters programmed into it, with no ability to deviate even slightly.

Don’t be afraid for your job, because creativity, imagination, dreams, hopes, fears, love, and hatred are concepts entirely foreign to AI. Without these, AI remains just a machine or a tool in the hands of humans. We are still millions of times better than any advanced AI program when it comes to these qualities.

If the day ever comes when machines acquire these traits, then it will truly be time to start worrying — not just about our jobs, but about our very existence.

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If you want to support my work buy me a coffee for $1.

https://ko-fi.com/neo77

Greetings and until my next article!

Neo77