Crypto currency will fundamentally transform the nature of business, society and culture. If you are reading this page, then you want to be part of this revolution.
How It Works
Crypto currency uses encryption to regulate the transfer of funds and generate units of currency without the need of a central bank. It operates on a platform called the blockchain, which evenly distributes the work across multiple computers and creates a public ledger of every transaction, making it impossible for any one computer to centralize power or cheat the system.
This might sound complicated, but it is actually quite simple. Consider the following example.
Today, if you got hired by a new company, they would give you a stock option. That is usually a piece of paper they hand to you. You put that piece of paper in a safe deposit box because someday it could become valuable. You want to protect the physical copy of your contract.
The blockchain is a digital form of that stock option. Instead of being put in a bank to be kept safe, it’s stored on the blockchain publicly for people to see. When everyone can see it, out in the open, then there is no disputing it belongs to you. The blockchain acts as a public ledger. That means we can elimiate a lot of middlemen, radically changing everything.
Why Crypto Changes Everything
In life we have thousands of different versions of paper contracts. Fiat currencies are contracts backed by governments. There are insurance, utilities, payments, medical records, marriage and birth certificates, passports and driving licenses, loans and deeds for property, etc. There are perhaps trillions of dollars spent maintaining these records with expensive legal and filing fees, bureaucracy, and so on.
The blockchain eliminates the need for all of these middlemen, allowing to decentralize power, share value, provide transparency and create openness. Now you can pay and earn money without transaction and banking fees. It has the potential to get rid of corruption, enable companies to raise money directly from their supporters, and transform customers into co-owners. Its potential is seemingly limitless.
This Isn’t a Get Rich Quick Scheme
Like the early days of the Internet, there is a lot of hype and speculation about the future of crypto currency and the blockchain. This is why Crypto and Coffee talk about hash rates and performance of our software, but we don’t estimate projected returns on mining.
All markets go up and down. We do our best to help you make informed decisions, are transparent and open about everything we do, and as miners ourselves we continually inform you about best practices based on what works best for us.
We build the best possible software to maximize your mining power and strive to support all of your needs across any type of hardware. Our Slack Channel allows you to speak with other miners about what works for them. We strive to build and empower community around crypto.
We drank the koolaid a long time ago. Yes, we think crypto currency is the future – but we want to be clear that this is not a get rich scheme. Like every new market, there are risks and rewards. We hope will do everything we can to help you reap the rewards.
Welcome to the world of crypto!