BCT Made Simpler for Cryptocurrency Traders. Fundamentals & the Bitcoin Myth | Platinum Trading Institute

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CRYPTOCURRENCY

• BCT Made Simpler for Cryptocurrency Traders.
  Fundamentals the Bitcoin Myth

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Introduction

• Over the last nine years, Blockchain
  Cryptocurrency has maintained nearly an upward
  trajectory culminating in its price reaching
  19,783.21 a week before Christmas.

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Bitcoin Myth and Blockchain Technology

• Primarily to circumvent these two challenges,
  Satoshi in 2008 conceived the idea of a
  cryptocurrency, and then minted, about 50
  Bitcoins in January 2009. The first Bitcoin
  transaction was negotiated between Satoshi and
  his friend, Hal Frey that month. Since that first
  transaction, Bitcoin and its sister currencies
  (ALT COINS) had reached a whopping market cap of
  nearly 835 billion by the end of 2017.

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• Even though its market cap has been slashed by
  almost 50, it still garners a significant
  fraction (about 5 at the writing of this
  article) of the overall global currency and coin
  market cap. And, on further analysis, one
  estimate shows Bitcoin having an overwhelmingly
  largest market share at close to 60 of that 5
  fraction.
• This evidently shows the extraordinary power of
  Satoshis rather original ingenious thesis that
  when monetized Bitcoin has created staggering
  opportunities for Crypto coin traders. 

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What is Blockchain Technology (BCT) ?

• The underlying infrastructure supporting Bitcoin
  and other ALTCOINS is rooted in Blockchain
  Technology. 
• Surprisingly, though maybe not be coincidental,
  Satoshi presented his thesis about Blockchain Cryp
  tocurrency just about that time. In its most
  vernacular explanation, BCT is the collection of
  a publicly monitored ledger system, say a giant
  database that records and maintains in perpetuity
  ALL actions and the attendant digital signatures
  that have been executed for a given transaction.

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Five Pillars of a BlockChain

• A generic Blockchain system includes at least the
  following salient features  
• Distributed Consensus,
• Verification Proof of Work,
• Immutability Unique relationship between output
  and input,
• Trustworthiness, and
• Transaction Velocity.

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