Da Basics
What is cryptocurrency?
Digital money that exists online and uses cryptography for security.
What is a blockchain?
A digital ledger that records transactions across many computers.
Where do you store Crypto
Digital Wallet
Define Volatility
Prices change rapidly and unpredictably.
What did Ryan start his journey with?
A penny
What technology records all cryptocurrency transactions?
Blockchain
Why is blockchain considered secure?
Transactions are verified by many computers and cannot easily be changed.
What key allows people to send crypto to your wallet?
Public Key
Is Crypto normally high risk or low risk?
High risk.
What system/strategy did he use to increase value
Bartering. he traded items for better things
What does “decentralized” mean?
Not controlled by one central authority like a bank or government.
What is a block in blockchain?
A group of verified transactions.
What Key must be kept secret to access your crypto
Private Key
What investment strategy spreads money across multiple assets?
Diversification.
What important skill helped Ryan succeed besides money
What was the first cryptocurrency created in 2009?
Bitcoin
What happens after a block is verified?
It is added to the chain permanently.
What happens if someone gets your private key
They can take your crypto
What type of coin is designed to stay close to the value of the US dollar?
Stablecoin.
What role did risk play in his journey
He had to take chances to move forward. if it didn't work he would be out money.
*GREAT RESET*
What problem was cryptocurrency originally designed to solve?
Allowing peer-to-peer digital payments without banks.
Why is blockchain difficult to hack?
Because it is distributed across many computers.
What is phishing
A scam where someone tricks you into giving personal information.
What is Speculation
Buying something hoping its price increases quickly.
What lesson could we learn from the video?
Small opportunities can grow with persistence and smart decisions.