What is the crypto currency Ethereum and how can we understand its development?
Today we show you a very interesting edition of Fascination Freedom.
Firstly, I wish you all a happy new year.
Welcome to 2018 and the first edition of Fascination Freedom.
Today we talk about something very interesting, a special topic of the future: Ethereum.
I welcome you from Beirut or the Lebanon today, a very interesting country.
In the end, as always, I show you some impressions of the country.
Alright, today a great topic of the future: the crypto currency Ethereum.
Currently it is the second biggest and there is a cause for it which is highly interesting
and it is no clone of Bitcoin, but we can call it the second
generation, which goes more ahead compared to Bitcoin.
Bitcoin has simply transactions from A to B for example, so you can send a crypto currency
to someone else.
Ethereum is different because not only transactions are executed but whole
programs, the so-called smart contracts, are filed.
How can I envision that?
A smart contract is like a coke vending machine.
Imagine that you have an Euro and put it in, then you say, that you would like to have
a Coca Cola Light or whatever and you get it.
This is a smart contract. That simply means that you invest something and if the condition is fulfilled
the result is found and you receive it. These are smart
contracts. Thus, you take a currency, which is the
Ether and then if you put in enough Ether, you
receive the desired software for example.
And why is it interesting?
The whole thing is decentralised on a Blockchain, a highly interesting new technology, which is being developed
further, and which will be able to influence our life more and more.
It has different advantages, for example imagine that you have a power outage, you have
a writing tool like Word but you forgot to save it,
due to the power outage everything is gone.
With Blockchain this isn’t the case because data is saved decentrally on the Blockchain
so not everything is with you or with a company but on participating
While power outages or when a hacker attacks, it can be that you get locked out
of your own data and that you have to pay a ransom. With Blockchain this
is not the case because data is decentrally
saved and are encrypted and you still have access
Imagine the case that you are on a flight with Lufthansa and it is delayed
and you are entitled to a compensation claim.
In the Blockchain, this can be synchronized automatically, the flight has a delay of 2 hours
and you already got the money to your bank account before the flight
You don’t have to submit or examine anything, that means that
intermediates become no longer necessary. Thus the interesting thing with crypto currencies
is that banks are not necessary anymore to a certain extent.
I repeat that for example banks and other institutions are not necessary to a certain extent,
this is what is happening and this is why many people
are already investors of crypto currencies, people especially in the IT sector
– a sector with an incredible amount of movement – and many people are excited
when they already see those developments of which most people have
no clue about. This is why it is important to deal with this topic.
Crypto currencies as an investment can be an interesting topic, it looks like it
can change the world in the future.
A couple of days ago, we had our crypto investment seminar with the topic how to
invest in the 10 biggest crypto currencies – widely spread is very important in
the area of crypto currencies as there are many fluctuations this is why you should invest in it
as a diversification.
Deal with this topic and have a look.
Feel free to click below the video. A couple of days ago
we got some amazing feedback, thank you very much for that again here.
Have a look at the topic as the topic crypto currencies will accompany
our community a lot this year.
Now we have a look at some impressions here from Lebanon, a highly interesting
Today it is very windy and I let the culture act
upon me and I have to say it is very fascinating, a quite polar country, about
50% Christians and 50% Muslims live here.
This led to a civil war and you can still feel the traces that it
isn’t the richest country. It’s neither the poorest country but you notice that there are still
relatively many not that pretty buildings here, but it is relatively secure.
I don’t worry while walking on the streets and it is indeed highly interesting.
By the way you should start reflect a bit when you are able to see those live-stories here,
if you talk to the people here, you notice that it is not always the best to live here
maybe you know it from other situation where Christians and
Muslims live close together and if it is really the best option like this
or if it might cause further problems.
The Lebanon is the best example for it with its instability. If you
ask people here they say that the instability will continue.
So maybe we should reflect those things in life and with this I say goodbye and end
today’s edition of Fascination Freedom.
Please share or like the video if you found it interesting and
register below the video so you never miss any of our tip videos.
We have a lot of plans.
Live your financial freedom.
Don’t let this be messed by anyone if you are interested
try to improve your life. We can always
continue to realize our own dream life and this is what we are doing
in our community.
I see you next Friday, Yours Thorsten Wittmann.
Simply great! He especially deals with things that cannot be found anywhere else.