5 Bitcoin and Blockchain Topics You Should Care About

If you are reading this, then you are probably new to the crypto world. Am I right? I assume that because most experienced folks in the crypto sphere already know which are the 5 main topics in their own opinion.

That being said, there are many different opinions on what is important and whatnot when it comes to the Bitcoin and blockchain topics. This means that there is no ultimate list of 5 Bitcoin and blockchain topics you should care about. Anyone who knows a thing or two about the emerging or blossoming technology and its use cases would come up with its own list. As such, the list presented herein is completely based on my own knowledge, research, and beliefs.

Let’s start off by warning you about the trickiness of the crypto world. There is a lot of potential money to be made in this field and if history taught us anything, we know that money often brings out the worst in most people. As such, there is a lot of mess, scams, and dirty stuff evolved around the crypto technology already, especially around its so far main use case – cryptocurrencies.

The above means that things are highly unpredictable and even governments and authorities are using their tricks to make as much money as possible during this emerging period. As such, you must always be extra cautious and do your own research before investing any of your hard-earned money into cryptocurrencies or other blockchain use cases.

That being said, the blockchain technology is amazing and fabulous. It has so many great and positive use cases that we can’t even imagine. And the part that we just talked about is the exact thing that can be eventually eliminated if the proper use of blockchain will be set in place.

So as you can imagine, the most talked-about topics in the blockchain sphere are related to cryptocurrencies, Bitcoin as the leading one, in particular. Thus, it is highly logical that most of the 5 Bitcoin and blockchain topics you should care about will be related to the latter.

The list of 5 Bitcoin and Blockchain Topics You Should Care About:

1.) Blockchain Technology: This is definitely a topic you should get to know well. It will help you understand the difference between blockchain and cryptocurrencies.

2.) Real-Life Applications of Blockchain Technology: This will open your eyes to the countless possibilities and help you realize that blockchain has a chance of actually making the world a better place by eliminating a lot of corruption (especially in the official affairs).

3.) Bitcoin priceAnyone can say whatever they want, but Bitcoin is the king and its price dictates the crypto pace. My advice for those interested in investing in Bitcoin: BUY AS MUCH AS YOU CAN AT THE CURRENT PRICE and all the way up until $10,000 USD.

4.) Ethereum, Litecoin, and Ripple use cases and prices: there are many altcoins out there, but these are the most important ones. Pay attention to their use cases and all the news related to them. My advice for those interested in investing in altcoins: BUY AS MUCH AS YOU CAN of ETH, XRP. and LTC at CURRENT PRICES.

5.) Libra CoinFacebook is/has (no one knows exactly) creating/created their own cryptocurrency. It was supposed to be launched already but the government blocked the whole thing and since then there has been very little information available to the public.

The Emergence of Decentralized Autonomous Organizations.

The government has control over many aspects of an economy. However, it cannot influence decentralized autonomous organizations. Some of the factors that are used to categorize the organizations include the number of decisions to be made, incentives for the participants, and the level of decentralization.

The organizations are represented by rules which are encoded as computer programs and are only controlled by shareholders. One of the unique features of decentralized autonomous organizations is transparency. All the rules that govern the organizations’ and records of their transactions are stored in a blockchain.

Blockchain technology is used to develop secure digital ledgers for tracking financial transactions across the internet. Other security measures in decentralized autonomous organizations include trusted timestamps and dissemination of database and that speeds up financial transactions as there is no need to include third parties in a transaction.

Comparing Traditional and Decentralized Autonomous Organizations.

In traditional organizational setups, there are employment contracts that outline the nature of the relationship between agents and organizations. The rights and obligations of such organizations are regulated by specific legal agreements and are enforced by the legal arms of the jurisdictions they are located in.

If one of the parties does not meet their obligations, the legal contracts outline which party can be sued in a court of law and reasons why they can be sued. On the other hand, decentralized autonomous organizations involve the interaction of a group of people in accordance with a self-enforcing protocol.

Unlike in traditional setups, members in a decentralized autonomous organization do not enter into any legal agreements. The members are controlled by various incentives and rules for specific networks. The protocol and smart contracts govern the behavior of all the members in a decentralized autonomous organization.

Traditional firms are characterized by many layers of management and bureaucratic coordination. The traditional organizations are not ideal for parties that have mistrust among themselves, live in different jurisdictions, and speak varying languages. All agreements are self-enforced through majority consensus from various network actors.

Some decentralized autonomous organizations are simple, while others complex. The complexity depends on factors such as the number of stakeholders and the number of processes and participants that will be regulated by a contract. Organizations with more-centralized rules are similar to the traditional setups.

Similarities between Traditional and Decentralized Autonomous Organizations.

Just like traditional organizations, decentralized organizations aim to generate high returns for their investors. In both forms, the organizations attract and allocate different types of capital, including talent, technology, and money to develop new solutions. Both types of organizations allocate the risk of failure, when processes do not work as expected.

There are uncertainties for all economic activities, and this is considered in both types of organizations. The organizations determine how rewards are distributed. They also define who will enjoy the benefits of successful outcomes.

All organizations determine how benefits are distributed among the different parties and define success. Stakeholders in both forms of organizations design the scaling mechanism, which includes acquiring more money, talents, and developing structuring to facilitate the scaling.