Yesterday, there was a rave around the crypto space as regards the ‘Bitcoin Pizza Day’. Newbies within the blockchain and would-be traders around me suddenly saw this as an opportunity to really ‘lament’ how confusing and technical the crypto space was.
Oh, yes, simple words, but then, you’d have to be knowledgeable to know the significance of each term. It was sad to note that before I knew what was happening, innocent terms such as DYOR, WAGMI, FUD, HODL, REKT, and many others were ‘dragged’ and further used as templates to justify the numerous ‘complexities’ within the blockchain industry. An avid listener may have been convinced. However, the truth is, that blockchain has only opened our generation to a whole new world of learning. The search for financial innovation simply became much fun with the evolution of Blockchain Technology.
Well, these are subjunctive but valid opinions in my view. You may as well not share the same thoughts but for today, I’d return safely to my main subject.
What was the fate of this conversation I was privy to be a part of? Is the blockchain industry as complicated as people paint it to be through the lens of technical terms? Follow me to find out.
In the first instance, May 22 has been etched into financial folklore across the world of digital assets. It marks the day programmer and Bitcoin miner Laszlo Hanyecz used the fledgling cryptocurrency to buy two pizzas from Papa John’s in 2010. It is recognized as the first physical item ever to be purchased using crypto. Now, look how simple it was easy to grab this!
Well, more facts showed that at the time, he transferred around 10,000 BTC — then worth $41 — for a brace of doughy delights. Today, 10,000 Bitcoin will not just buy a pizza, it would buy the building and peradventure, the very street the building is located.
That was on a light note though. Regardless, the above goes to show another interesting fact about cryptocurrencies that ‘crypto-skeptics’ are missing out on. Yes, in place of summarising a particular venture as complicated without due research, a better disposition to unknown fields and sectors might as well be to research slightly and open yourself up to newer learning fields.
I’ll run through other seemingly ‘complicated’ blockchain terms here. Some include DYOR (Do Your Own Research), FUD (Fear, Uncertainty, and Doubt), REKT (To Sell Your Crypto Too Soon or the Late thereby Incurring Losses), and many others.
This article is just a platform for you to DYOR to avoid FUD around the blockchain sphere.
Wait a minute, did you just use and understand the so-called ‘technical terms’? Well, that’s what I’m talking about! Learn more, and keep improving. Don’t forget, we never stop learning till the casket is slapped over our faces.
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