Your Crypto Bestie

Your Crypto Bestie
🖤Faceless but fearless
⛓ Break down crypto for women, from zero to onchain
5️⃣ Years in crypto
🐼 Personal opinion

[Your Crypto Bestie @kiwitalk1]

I am observing the history again!! @FTX_Official @binance

[Your Crypto Bestie @kiwitalk1]

4. Double entry records transaction on 2 sides, one on credit and one on debit. Translate into finance words, this is asset and liability. If assets are more than liabilities, the balance is capital.

[Your Crypto Bestie @kiwitalk1]

A ledger is a way to record the economic activity and social or financial relationships. Research has shown that the first methods of writing had to do with numbers and ledgers instead of words and communication.

[Your Crypto Bestie @kiwitalk1]

3. Single Entry vs. Double Entry. They differ in the way of recording. Single entry records each transaction one single time, thinking it is like a post-workout list of what did you do in the gym today.

[Your Crypto Bestie @kiwitalk1]

5/5
- Blockchain technology overview: https://t.co/EQt600aCZ0 - a thorough but short anatomy of blockchain technology
- A visual Blockchain 101: https://t.co/GdQBZNrQ7a - a visual way of how blockchain works

[Your Crypto Bestie @kiwitalk1]

1/4 14 years ago on Oct 31, Satoshi Nakamoto published Bitcoin white paper but not until the 2009 Jan 3 Bitcoin network was launched that Satoshi mined the first block of the chain, also known as the "genesis block". The success of Bitcoin was not come out of nowhere

[Your Crypto Bestie @kiwitalk1]

4/5
- Bitcoin P2P e-cash paper: https://t.co/tjGEfbMRGY - the TL;DR version of Bitcoin White Paper.
- A brief history of money: https://t.co/HYmS6iWMYM - the role of money and its evolution.

[Your Crypto Bestie @kiwitalk1]

Money and currency are used interchangeably nowadays, but currency is considered the physical presentation of the intangible concept of money. The evolvement of money and the transition from gold/silver to paper currency made good and service exchange easier.

[Your Crypto Bestie @kiwitalk1]

Before diving into #BITCOIN and other #cryptocurrencies, let's talk about money.

[Your Crypto Bestie @kiwitalk1]

3. Medium of exchange, so it is easy and efficient for people to trade goods and services with each other

[Your Crypto Bestie @kiwitalk1]

Finally made my way to #Money2020USA in Las Vegas

[Your Crypto Bestie @kiwitalk1]

4. This mechanism ensures the records and transactions on the blockchain are not editable, or irreversible. This is also one of the unique features called immutable.

[Your Crypto Bestie @kiwitalk1]

When you hear the term distributed ledger technology (DLT), in many cases, it simply means blockchain. 

1. Think of blockchain as a special type of database. They have rules for how data is added and once it is added, it can’t be modified or deleted.

[Your Crypto Bestie @kiwitalk1]

3. A simple way of thinking is every block has its unique fingerprint. Each block contains the fingerprint of its previous. Because a block contains information about its previous, which means any changes on the older blocks will immediately become apparent.