Hello, everyone. My name is Han Jae-young.
Nice to meet you all of you guys I want to tell the cryptocurrency
what is different than the gold. Today's topic is very simple, not complicated. Actually gold has been in use since 5,000 BC. That time people used gold
to trade somethings or store values. Because gold is not stained and very rare. And it was used like cash before. Many powerful men in the old history, all heroes and regimes and some people
used the gold to handle the power
and to make the market of trade. Gold was used in many old economies. At the time everyone wanted to dig the gold from the land
because the gold was very rare and expensive. It wasn't easy to find gold from the land.
Someone might find the gold's
main path in the cave. That person should become a rich by the gold valuation. Actually 200 years ago in USA,
that time gold rush made a lot of riches in USA. Gold has a very long history of the asset in the world. All the people loves gold even include me. At the time a lot of alchemists tried
to change the cheapest metal to the gold. Alchemy research's result made a lot of base knowledge
for the modern scientists or modern materials. Alchemists made the Brass, Carbon steel and any others. That alchemist failed to get gold
but they made third-parties of the compound metals.
And nowadays human-race uses that
alchemy technology for the modern industry. But today, people do not use gold as cash anymore,
because gold is heavy and has volume. Actually people in these days have a lot of assets. If that asset changed to the gold, that gold volume
should be big and the weight shoud be very heavy. It means gold is not comfortable asset for trading. Today, people use the digital numbers
to move the valuable things. But gold has the long history with the human-race. I want to talk the cryptocurrency figure things
what is similar to the gold.
You know the history of cryptocurrency is very short,
It's been only 10 years since Bitcoin. Actually Bitcoin is the history of cryptocurrency. Figure of cryptocurrency is not copiable (modifiable). It is impossible to copy the data to make a new. Cryptocurrency data structure, we called the block chain, Bitcoin block chain and Ethereum block chain, shows the one original data. Every copied node's synced the data
is showing the one original data. Blockchain is remarkable the original data in the digit. It is a great achievement in the digital world. Cryptocurrency is always generated by the network rule. Someone tried to copy the
cryptocurrency but it is impossible. Because that Ethereum and Bitcoin network
does not allow the copied data This is the Blockchain structure. Because the cryptocurrency is just the data It is not disappeared by the time by the order. Actually small networks easily disappeared
by the market choice You know nowadays a lot of cryptocurrency
listed in the exchange market but very minor cryptocurrency is not easy to make the strong community. If the community disappears, it means
the coin disappears in the market by the market choice. But major cryptocurrency, like Ethereum and Bitcoin,
it is impossible to disappear in the world.
If every people want to destroy the cryptocurrency, that time people have to cut off the electric power of the world to get rid of them. It is impossible. You know nowadays many businesses
are connected through internet service. It means the civilizations go back 30, 40 years. every people don't want that situation. This is the reason why cryptocurrency keeps working
in the world without any government insurance. I talked about the figure things of cryptocurrency similar to the gold. Now I want to talk about
what is the difference between cryptocurrency and gold. I said the cryptocurrency does not have the weight and volume and anyone can hold their own coin
without any physical base things. People only need to remember
the account and private-key. And gold is impossible to move to the other way. Because gold always has volume and weight But people can easily bring the
cryptocurrency to the anywhere.
It is big different things
and you can send your cryptocurrency to everywhere. Every people can easily access the public block chain
without any permission. It is more convenient than bank or gold. Even if you have a lot of cryptocurrency in your account, No one knows the amount of
the cryptocurrency in your account. It is impossible to know, because it is a secret. My opinion is simple,
probably cryptocurrency will replace the gold's position. Because the cryptocurrency is always more convenient
than the gold, gold is very old asset. Thank you to listen my opinion in my channel. I want to see all of you again. My channel is always opened
and is weekly uploaded with my opinion and some thing new. Please add my channel! See you next time.