Lesson number 1
Cryptocurrency means blocks of code generated –through “mining”– and verified by computers through encryption/decryption methods. These blocks of code are encrypted and cannot be replicated anywhere else. Actually, “crypto” means cryptography (the science of encryption/decryption). The term cryptocurrency is used because this code is now used as legal tender. You exchange blocks of code for products, or for blocks of code of different other currencies. All these transactions can be seen and verified on the block explorer of the network (blockchain), online. Back in the days, in Maldives, islander traders were using shells found on the beach as money. Anything can be money! Cryptocurrency can be mined all at once (deflationary thereafter) or mined during a certain period of time through complicating the code as it gets minted (inflationary if no supply cap is set at the start). The total number of Bitcoins that can ever exist is 21 million. Because cryptocurrency is capped, it is “more” money that the usual currencies we’ve used so far. Currently no national currency is capped (unlimited supply), nor is it backed by any asset (we’ve gone off the gold standard in 1971). The value of the bills in your wallet is actually almost zero. The value is being kept up in the world because of general acceptance. As cryptocurrency gets used (accepted) more and more it is actually real money. Its value can only go up more than down in the long term, as no one can replicate what you have in your wallet. Hence the soaring prices of cryptocurrencies. No one can “print” more to dilute the market! The Dollar for example has been on life support since 1971. Its value is supported due to many countries holding reserves in Dollars. If all these countries would go off the Dollar, the Dollar would no longer exist, with a total supply of about 37 trillions as of now! That’s roughly the total number of cells in the adult human body! If that was to happen, one dollar would probably be worth around £0.00001, if not less! To put into perspective, at first, real money was backed by gold and silver. Cryptocurrency started the other way around, backed by limited supply and security. Presently, cryptocurrency is switching to being backed by general acceptance in a developed economy, which can be compared with the gold that was backing real money in the past. Cryptocurrency is also reshaping the financial system big time. Unlike the Dollar, crypto is actively improving and reshaping its backing asset, The Economy. A crucial opportunity with cryptocurrency is that people like me and you can take control of our finances by scrapping the banks and the old financial system, which is not rewarding you with anything – only higher interest rates and repayments. Yes, with cryptocurrency you can make money through the deflation of a coin, by mining for new coins using your current reserves (staking), borrowing against your holdings, buying and selling art (NFTs – Non Fungible Tokens, which is art turned into blocks of code on the blockchain), etc.. The use cases for cryptography (crypto, cryptocurrency) can go on and on. It is a way to bring individuals at the forefront of their governance! Cryptocurrency can also be burned (sent to a “dead” address from where it can never be reintroduced into the market).
Think of Cryptocurrency as being the DNA. Your whole DNA is the blockchain. Your human blockchain is made of a sequence of blocks (nucleotides), which in turn are made of specific chemicals, which are made of molecules, which are made of atoms. Your DNA is limited too! The sequence cannot go on forever. Same with Crypto blockchains! One block is one coin. If it would go on forever it would turn into useless code, same as the Dollar after 1971. Your body is built on the DNA – “blockchain”. Look at you now, at how many things have been built on the same network, working together seamlessly and without centralised governance. Each cell built on the blockchain (DNA) is expressing its individuality unrestricted, with its own knowledge and wisdom. Think at the DNA “blockchain” as a “sharded” blockchain as it is contained into most cells in your body. In crypto there are “sharded” blockchains too to increase transaction speed and efficiency. Boom!
PORTOCAL crypto token is deflationary (the value can only go up due to a limited supply and planned coin burns at different milestones). This does not mean there won’t be price fluctuations at different prices. The general market sentiment applies to all trading, holding, etc.. Above the price value of absolute zero (when released the tokens were given a value) volatility will express the same mechanics as with any other financial instrument that is being bought and sold. Portocal crypto is the main coin that will be used within our business, and when Portocal blockchain will go LIVE the tokens will be migrated from Binance Smart Chain to our own cPORTOCAL blockchain.
Now that we’ve helped you understand what crypto is, by providing this basic yet invaluable information, show your support and invest in Portocal crypto today. Details on the process here. Did you know we already have a travel app? Download it here. Congratulations! You are not a Crypto newbie anymore. Also share this article with your family and friends. Let’s do this together!
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