I have suggested on here since 2010 that there is a good chance crypto will replace main stream money, and also in the longer run, the political and systems we use for countries and companies.
Since 2009 when crypto first happened in the form of Bitcoin, we have been in a slow but accelerating transfer of wealth from the old financial system into the world of crypto.
If governments ban it they close the door to what could fuel the next financial big industry. And we seem to have passed the point of that being tried out. Japan bit the bullet and jumped in, everyone is following.
The lines between Governments, Companies and Social networks are continuing to blur, they become similar creatures, each will have its own crypto coin. All are simply forms of social network (or 'infostate' if you read my old blog posts). Governments are loosing their traditional power over companies and countries to become part of a continuum of organizations that represent human social groups.
The below is to get someone started, there is so much more to crypto:
-- prettiest wallet, less secure (it uses the same receive address, but ok for small funds) exodus.io
-- mainstream bitcoin wallet site and good security blockchain.info (think you can buy from them too but have not tested it)
-- upgrade to a hardware wallet for best security
how to get:
Play safe, get a bit every week or month.. ideally 'buy the dips' when the price dips as it often does, obviously dont play with what you cant loose.
-- easy to get small amounts is https://bittylicious.com/
-- For UK bitcoin purchase, http://coinfloor.co.uk has an express buy option which connects direct to brokers (bit like Bittylicious) but the prices are quite a bit lower.
-- I think blockchain.info has added a way to buy too but not tested
-- buy from other punters localbitoins.com
-- Easy place for Euro bitonic.com
-- For any real volume or trading goto proper exchanges http://coinmarketcap.com/currencies/bitcoin/#markets
-- main eyeball site to watch to get to know the coins http://coinmarketcap.com
-- news site for getting more upto speed on them https://cointelegraph.com
-- Hold a split of coins.. stuff like bitcoin, dash, ether, gollum, monero and zcash are all interesting.. need to get bitcoin first, then its easy to move over.. exodus.io, the first wallet i suggested has built in multi crypto support so can exchange the coins they support.
-- Dash, monero, zcash have privacy features which is why some like them, obviously for something to succeed as a form of global money it would need this feature
-- Many services are moving to crypto but in each service there will only be one winner over time. This is the reason to hold a split and move between them as it becomes more clear who is winning.
Re Ether, Bitcoin:
-- Bitcoin is more a plain money thing, Ethereum is a global computer that you can run code on, they call that 'smart contracts' and many new services are being implemented on it. Bitcoin has the mainstream mind share and looks like it will hold the top card as a global store of value. Further changes are down to who integrates privacy first, which Ether has plans to do already (My old post on Ether Ethereum, Bitcoin 2.0 and Web 3.0)
-- Never leave coins with an exchange. Exchanges have been known to get hacked or die of mismanagement.. use an exchange to trade and use a wallet to store.
Types of wallet:
-- Coins always live in a blockchain (a network of data blocks stored by many computers on the Internet), the user holds the crypto keys to their coins that are on the blockchain.
-- There are three main types of wallet,
1. there are online wallets (the site never knows the keys or the funds as they encrypt the site eg blockchain.info
2. local apps that access the various blockchains eg exodus.io and jaxx.io
3. download and run the official app for a coin, this will download the blockchain onto your own computer and for stuff like bitcoin is many gigabytes of data.. This gives you the most control, but it can be wild west code (it its a new coin that has not had much testing) Also you can delete your keys and loose the funds if you screw up. goto the list at coinmarketcap.com to find the website of any coin and download the official local wallet
-- The first rule of crypto currency, the press is absolutely clueless on it, take all it says with a huge pinch of salt, most of it is plain wrong while some of it is just misleading. (This probably goes for most other subjects too)
Some of my early posts on new money and bitcoin:
The State Is Dead, Roll On the Global Free Republic was my original long post on it all just as I realized that new forms of money would replace our old world order. Then had a few more like:
-- Bitcoin fear and Gold, trade in a post central bank world
-- The Infostate And The Colour Of Money