Ed-vise Episode 246

A GO DODGERS! GOOD MORNING!!! to you all! Yup, Dodgers beat out St. Louis 3 – 1 last night to advance into the National Leagues Division Series. They travel up the road to Frisco on Friday to get going on the journey to the World Series.

Crypto Thursday Ed-vise today. Cause it’s Thursday and I am on a new journey of discovery!

For those who don’t know, I have decided to dedicate the Thursday blog to what I have learned about crypto stuff. Why? Because it helps me to understand what it is all about.

Turns out that ANYONE can make a crypto-currency. Literally anyone! You, me, my dog, my other pseudo dog, wife, kids, cousin, aunt, uncle…anyone can make a crypto currency. You just need to learn how to code using the blockchain.

Don’t believe me?

There is a lineman from the University of Oregon who is making a crypto currency. Google it.

Because of the freedom for anyone to make a crypto currency, crypto has become what is called De-centralized Finance (or DeFi for short).

See, in our current world, our banks and money are centralized. You hear all the time about Central Bank. The US treasury prints money; the Federal Reserve is the Central Bank.

Back in the day, there wasn’t a Central Bank. Every state had their own bank and their own currency and their own set of banking rules and standards. In fact, it wasn’t until the early 1900s that the US put their Central Bank in place. Until then, California had California dollars and Florida had Florida dollars and the finance market was all over the place.

So, the government centralized it and made one currency (at the time tied to the value of gold) which is the US dollar.

Crypto currency is like the old days where you could make your own money to use in your own stores. It is really the ultimate freedom.

Currently, the government isn’t doing much about the development of crypto. Probably because most members of Congress don’t understand it. Plus, it becomes very difficult to control because the coins are created in the ether world and not tangible. See, if it were a physical gold bar, the government could come and take it. A crypto is not tangible so the government cannot take physical control of it. However, they can shut down the internet to make it…like China did. But, I doubt good ol ‘Merica will do that…today

I’m just saying

That’s it for today. Take care of yourselves. Check in on each other and remember GO DODGERS!!!

Peace

Published by edhlaw

Son, husband, father, uncle, nephew, cousin

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