Engels_Cryptocurrency

• newEditor
• Engels
• Middelbare school
• havo, vwo
• Leerjaar 2

Cryptocurrency

Good or bad?

https://docs.google.com/document/d/1ORLfTo1zPN2hUr21BcMSVLC3lniMCodSl9WbjsQx2to/edit?usp=sharing

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What are we doing?

- What is cryptocurrency?

- How does it work?

- The good things 

- The bad things

- Most popular

- NFT's

- Good or Bad?

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Cryptocurrency

What is cryptocurrency?

• Digital payment system.

• Doesn't rely on banks.

• Peer-to-peer system.

• Digital wallet.

• First crypto in 2009.

Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions.

It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments.

Instead of being physical money carried around and exchanged in the real world, cryptocurrency is like a code describing specific transactions.

Your crypto is stored in a digital wallet

The first cryptocurrency was founded in 2009

Is cryptocurrency digital or physical

A

Digital

B

Physical

C

Both

D

I dont know

When was the first cryptocurrency founded

A

200 B.C.

B

2016

C

2009

D

2011

How does it work?

1. Blockchain

- Record of transactions

2. Mining

- Generates coins

3. A key

- Move a record or unit

1. Blockchain

- Blockchain is a record of transactions.

2. Mining

- It involves a computer solving super

difficult maths problems that generates  

coins.

3. A key

- When you have crypto, you don’t own 

anything tangible, you own a key that allows you to move a record or a unit of  measure from one person to another.

Which 3 things make crypto work?

What is blockchain?

A

Record of transactions

B

Coin generating

C

Moving a record or unit

D

The good things about cryptocurrency

- Protection against inflation

- Faster transactional speeds

- Accessibel to everyone

- Protection against inflation, it isn’t    completely inflation-free, but it has a  cap on the amount of one crypto coin.

- Faster transactional speeds, to transfer  money traditionally it usually takes a      few days. With crypto, it only takes 24h.

- Accessible to everyone, you only need a  laptop and an internet connection.  Anyone can do crypto.

The bad things about cryptocurrency

- Scams

- Value

- Lack of transaction policies

- Limited uses

- Environmental impact

- Scams, there are a lot of scams in crypto. For example: when people take something really popular and make it into a coin. Like the squid coin.

- Value, it’s very risky to do crypto. One time the value is €50.000 and 5 minutes later the value is €0,45.

- Lack of transaction policies, with crypto there are no refunds, no transparent policies.

- Limited uses, you can’t really use crypto anywhere. Only in certain places. You can't use it to buy clothes or food.

- Environmental impact, to do coin mining, it takes up a lot of energy and space. Which is not good for the environment.

What are the good and bad things about crypto?

Most popular currencies

1. Bitcoin

- Founded in 2009

- Most popular currency

2. Ethereum

- Founded in 2015

- Inspired by a videogame

3. Doge coin

- First meme coin - the doge meme

- Has an official day

- Bitcoin
Founded in 2009
Most popular bitcoin in the world

- Ethereum

Founded in 2015

Based on a video game

- Dogecoin

First meme coin - the doge meme

Has an official day: April 20th

What is Doge Coin based on?

A

Crypto bro's

B

Fortnite

C

I just wanna be part of your symphony

D

The doge meme

NFT'S

- Can be earned in some games

- Purchased with crypto

- Marketplaces

- Criticism 

NFT’S are usually a picture of something. Like the photo of the monkey. In some games you can earn NFT’S. You can also buy NFT’S with crypto. There are marketplaces for NFT trading, like OpenSea.

But there’s also a lot of criticism, because people say they're just pictures. You something can even download them.

Can you buy NFT'S with crypto?

A

Yes

B

No

C

D

What do you think?

Is Crypto good or bad?

-

Overleg met je buurman/buurvrouw

What did you learn today?

The End!

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