Cryptocurrencies: The Hidden Secrets to Master Cryptocurrencies in Just 3 Days

By Dexter Wade, Flavio Simeri & Morton Rowe

Did you know that the price of Bitcoin between 1 June 2010 and 1 September 2017 exploded by an incredible 6,716,700 %?

This means that $100 invested in Bitcoin back then, would have become $6,716,700 after 7 years...a figure that would radically change your life.

 

You should know that crypto has made those who had the foresight to seize this extraordinary opportunity very rich.

If you are a serious investor or you want to learn how to invest in order to make real money, you cannot fall behind and miss this once-in-a-lifetime train!

 

There are thousands of coins on the market today, but there is still a lot of confusion about which ones are worth buying or investing in.

 

In this book you will get all the answers and all the practical strategies you can implement right away even if you are starting from scratch and don't know how to take your first steps into the crypto world!

 

Here is a summary of what you will learn:

 

• The basics of becoming a profitable trader: Transactions, digital signature, trustless, mining;
• The foolproof method to secure your cryptocurrencies by making the best use of public keys, private keys and your wallets;
• The 3 best strategies for optimizing moments of market volatility and how to use them to your advantage;
• Decentralized exchanges: Uniswap, Trustwallet and Pancakeswap...how to use them and how to profit from them;
• 5 ways to analyze the value of altcoins and maximize your investments;

...and finally

 

2 EXTRA CHAPTERS:

 

1.      List of the best yet little-known cryptocurrencies to invest in for the next 10 years with 100X or 1000X potential;

2.     How to create a PASSIVE RETURN thanks to cryptocurrencies;

 

You are looking at the ultimate guide to the crypto world that will get you up and running right away.

 

I will reveal to you the best strategies tested by me over the years that have led me to earn my first million dollars ...

 

All in a very simple way that even a 5-year-old can understand.

 

Stop procrastinating!

 

You are now one step closer to becoming a profitable investor!

 

Jump on this train now or it will be too late!

 

Scroll to the top of the page and click on the 'BUY NOW' button.

• Language: English
• Publisher: Dexter Wade, Flavio Simeri & Morton Rowe
• Release date: Jan 4, 2023
• ISBN: 9798215907986

Book preview

Cryptocurrencies:

The Hidden Secrets to Master Cryptocurrencies in Just 3 Days.

Bonus:

Analysis of The Best Yet Unknown Cryptos with Very High Potential for The Next 10 Years

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Dexter Wade, Flavio Simeri & Morton Rowe

© Copyright 2023 Dexter Wade, Flavio Simeri & Morton Rowe

- All rights reserved.

The content contained within this book may not be reproduced, duplicated or transmitted without direct written permission from the author or the publisher.

Under no circumstances will any blame or legal responsibility be held against the publisher, or author, for any damages, reparation, or monetary loss due to the information contained within this book. Either directly or indirectly.

Legal Notice:

This book is copyright protected. This book is only for personal use. You cannot amend, distribute, sell, use, quote or paraphrase any part, or the content within this book, without the consent of the author or publisher.

Disclaimer Notice:

Please note the information contained within this document is for educational and entertainment purposes only. All effort has been executed to present accurate, up to date, and reliable, complete information. No warranties of any kind are declared or implied. Readers acknowledge that the author is not engaging in the rendering of legal, financial, medical or professional advice. The content within this book has been derived from various sources. Please consult a licensed professional before attempting any techniques outlined in this book.

By reading this document, the reader agrees that under no circumstances is the author responsible for any losses, direct or indirect, which are incurred as a result of the use of information contained within this document, including, but not limited to, — errors, omissions, or inaccuracies.

TABLE OF CONTENTS

INTRODUCTION

CHAPTER 1: GENERIC NOTES - The Bitcoin network

CHAPTER 2: PRELIMINARY NOTES - Currency

CHAPTER 3: PRELIMINARY NOTES - The Components of the Computer

CHAPTER 4: PRELIMINARY NOTES - Hashing

CHAPTER 5: BITCOIN - Keys and Addresses

CHAPTER 6: GETTING PRACTICAL: GENERAL OVERVIEW

CHAPTER 7: IMPERMANENT LOSS: WHAT IS IT?

CHAPTER 8: LET'S TALK ABOUT THE DELTA APP

CHAPTER 9: ANALYZING THE MAIN ALTCOINS

CRYPTO NUMBER 1: ETHEREUM

CRYPTO NUMBER 2: BNB

CRYPTO NUMBER 3: ADA

CRYPTO NUMBER 4: LINK

CRYPTO NUMBER 5: XRP

CRPTO NUMBER 6: DOGECOIN

HOW TO ANALYZE THE VALUE OF ALTCOINS?

BONUS: Best cryptos to invest in in the 2020-2030 decade

Passive return with cryptos

CONCLUSIONS

INTRODUCTION

Bitcoin, with a lower-case b, is a fiduciary protocol.

Its minimal application is digital currency and it works like exchanging banknotes, but without necessarily showing up in person as the exchange takes place between electronic devices.

An interesting question is How powerful is this technology?

To answer this, one has to consider: with little more than your simple home computer, you could handle the transaction volume of the credit card giants.

The key parts of the topic are distributed in the following order:

Generic operation, to get an overview;

Currency, numbering systems and combined calculation;

Computers, hardware, networks, bios and the operating system.

Notions of:

Hashing, cryptography and digital signatures.

The topics that will be covered are complex and it is not necessary to know them in order to send or receive bitcoin, they are instead fundamental to understanding and using this currency correctly.

So, approaching the subject without these basics would lead to childish examples, which only add to the confusion and misunderstanding of the protocol.

Therefore, once these concepts are established, one can proceed to talk about bitcoin and thus about:

Seed;

Wallets;

Transactions;

Blockchain;

Mining

Finally, arguments will be made:

Types of attacks and cyber security;

Data security;

Keeping one's bitcoins safe;

Wallets;

Transactions;

Cold storage;

Alternative coins.

CHAPTER 1: GENERIC NOTES - The Bitcoin network

The bitcoin network consists of randomly interconnected nodes that share the same public ledger.

This public ledger, or Ledger, contains all the Bitcoins in circulation and their membership, under a numerical alias called an address.

Therefore, each address corresponds to the bitcoins associated with it.

GENERIC NOTES - Transactions

Transaction example: A wants to send B 5BTC.

To do this A generates a transaction in which he declares that B is the new owner of the 5BTC and signs it (a bit like writing a cheque).

It then communicates the transaction to the network and the receiving node, once validated, updates its copy of the register indicating B as the new owner and communicates the same transaction to all other nodes, which in turn will follow the same procedure.

In the time of one thousandth of a second, the transaction will have already propagated throughout the network, in which B is now the new owner of the 5BTC.

GENERAL NOTES - The digital signature

To understand whether a transaction is original, the node uses digital signature verification.

This is a unique numeric code for each transaction, which can only be generated by the legitimate owner.

This code cannot be counterfeited or modified and cannot be copied for later use in another transaction, because it is different for each one.

The code cannot even be hacked by the node, which merely checks its ongoing validity.

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GENERIC NOTES - The trustless

Assuming there was a malicious node that transmitted a bogus transaction, it would be discarded by adjacent nodes.

Therefore, there is no particular concern that such actions could harm anyone in the network.

GENERAL NOTES - The problem of byzantine generals

Despite the presence of the digital signature, it alone is not sufficient.

For the node to be able to verify the transaction, regardless of the declaration of the person making it, it needs the history of all previous transactions.

This information can be found within the public ledger, which contains the history of every bitcoin from its minting to the present.

For the system to work, the ledger should be the same on every node, in fact it is not enough for it to be similar or for the accounts to add up.

Unfortunately, this cannot always happen, just think of geographical dislocation, as one node may see a transaction before another and report it at different times. Or another case might be when a node, for a particular reason, refuses to enter a transaction into the registry.

The registry is in fact a distributed database and therefore, for the reasons listed earlier, cannot be fully synchronized.

This problem is known as the problem of the byzantine generals:

Two generals must attack the same city, if they attack simultaneously, they win, if they attack at different times they lose.

To act together, therefore, they each send a messenger to communicate strategy to each other.

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The first general sends the messenger saying that the attack will be made at 3 o'clock, the messenger leaves but the general does not know if the message has arrived. 

The second general receives the message and replies confirming the time, but as happened when the first general left, the second general does not know if the message has arrived.

This is a problem that goes on forever and has no solution.

GENERAL NOTES - Mining

In order to solve the problem of Byzantine generals, returning to the appropriate terminology, validated transactions are not immediately written to the register, but are held in a block.

Each node will have a different block which is built in the order in which the transactions arrive.

Therefore, in order to register these transactions, each node participates in a computation power competition, the winner of which will see its block written into the register of all the nodes in the network.

In addition to the credit for the writing in the register, the node will receive a prize consisting of the minting of new coins and transaction fees, coin base and fees.

Once the winning node receives the blockchain, a new contest of computational power begins.

This is what the mining process consists of.

GENERIC NOTES - The Blockchain

The purpose of the race is to draw the block that will next update the public ledger.

This is necessary to prevent a malicious node, perhaps knowing that it is the next to update the ledger, from taking advantage of it.

The solution to the puzzle that is asked to be solved depends on the block itself and the previous block, which will in turn depend on the one before it.

The solution to the riddle will then validate the block itself and all its previous versions, creating a chain of blocks called a blockchain.

GENERIC NOTES - Immutability

If one wanted to modify a block, one would have to solve a new puzzle, and then see the block modified and validated by the network.

If, on the other hand, one wanted to modify a node in the past, one would have to go and calculate all the intermediate puzzles.

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A good example to describe this type of competition is the game of bingo:

One is in possession of a certain number of cards, in a room full of other players.

To be close to winning, one would have to buy more cards than all the participants in the game.

Similarly, if you want to be close to winning a game, you have to have more computing power than all the other nodes in the network.

It is therefore very difficult and very unlikely that one can change a block of a certain age, since a computational power such as that described above requires a very high energy cost, which for the modification of such a block would mean using as much energy as all the other nodes in the network had previously spent.

This concept of the impossibility of changing an old block is expressed as immutability.

CHAPTER 2: PRELIMINARY NOTES - Currency

Currency is worth what you can buy with it.

This is the generally most common quote in economics textbooks.

In the past, gold was the currency par excellence compared to many other currencies, because it was rare and not perishable over time.

Today, the majority is very hesitant about virtual currency, as it does not appear to the naked eye to be redeemable in gold, but it is no more so than money deposited in a bank account.

PRELIMINARY KNOWLEDGE - Numbering Systems

In the base-10 numbering system, one has 10 symbols available to express a given quantity from 0 to 9.

Once you run out of symbols, you put a 1 in the ten’s column and a 0 in the unit column and continue counting 10, 11, 12, 13...

But there are other ways and other number bases to count, according to the examples:

In the assumption that only 7 symbols were available, the numbering would still have to be continued in the same way: 6, 7, 10, 11, 12, 13... where the number 10 would represent 8 units.

If one used the Gallic system, counting on both fingers and toes, one would have a base of 20 units.

If one counted as a prisoner, one would use a base of 5 units: I, II, III, IIII, IIIII...

If one were a computer scientist, the most suitable numerical system would be binary, where only the numbers 1 and 0 are available: 0, 1, 10, 11, 100, 101, 110...

There is also the hexadecimal system, for which the base is formed by the 9-digit numerical part, after which the letters are adopted in alphabetical order from A (corresponding to the number 10) to F (corresponding to the number 16).

The latter base makes it possible to simplify a binary number, which can be very large, and thus write it more compactly.

The importance of this diversification of number bases is their correspondence, since one is certain that if one does not immediately understand one of them, one can convert it to another that is easier to understand.

The mathematics is in fact applicable in the same way for each type of numbering system.

Example for number systems: The number 254.

254 - corresponds to 2 hundreds, 5 tens and 4 units;

254 - corresponds to 2x100 + 5x10 + 4x1;

254 - corresponds to 2x10² + 5x10¹ + 4X10⁰;

To be able to understand this equivalence between systems, one must remember some simple mathematical rules:

So, the generalized rule is [digit] x [base] ^ [position].

For example, the number 12 in base 8 is written 14, in hexadecimal base it is C and in binary base it is 1100.

Applying the generalized rule, the calculation steps can be observed:

Base 10: 1x10¹ + 2x10⁰ = 10+2 = 12;

Base 8: 1x8¹ +4x8⁰ = 8+4= 12;

Base 16: C=12;

Base 2: 1x2³ + 1x2² + 0x2¹ = 8+4+0+0 = 12.

PRELIMINARY KNOWLEDGE - Combinatorial Calculation

Given 3 digits and 10 symbols, what is the probability that the number 412 will be drawn?

First all numbers from 0 to 999 are selected, which including them, gives 1000 combinations in which the number 412 occurs only once.

So, the probability is 1 in 1000.

Drawing lots in fact means not favoring one number over the others in the probability