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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Crypto Currency explained

Crypto Currency explained

5 posters

Go down  Message [Page 1 of 1]

1Crypto Currency explained Empty Crypto Currency explained Sat Dec 18, 2021 8:01 pm

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Crypto Currency explained
 
An analogy in Layman’s terms
 
Not long ago a merchant found a lot of monkeys that lived near a certain Village 
One day he came to the Village saying he wanted to buy these monkeys ! 
He announced that he would buy the monkeys at $100 each. The Villagers thought that this man must be crazy
- How can somebody buy Stray Monkeys at $100 each ?
Still some People caught some monkeys and gave it to this merchant and he gave $100 for each monkey. 
This News spread like wildfire and People caught monkeys and sold them to the merchant. 
After a few days, the merchant announced that he will buy monkeys at $200 each.   
The lazy villagers also ran around to catch the remaining monkeys!
 They sold the remaining monkeys at $200 each.      
The merchant then announced that he will buy monkeys for $500 each! 
The villagers start to lose sleep!.....They caught six or seven monkeys, which was all that was left and got $500 each.           
The Villagers were waiting anxiously for the next announcement.
 Then the merchant announced that he is going on Holiday for a week,  but when he returns, he will buy monkeys at $1000 each!
 He also said that his employee will be in charge, and would take care of the monkeys he bought pending his return.              
The Merchant went on holiday!
The Villagers were frantic and very sad as there were no more monkeys left for them to sell it at $1000 each as was promised by the Merchant.
Then the Merchant’s Employee contacted them and told them that he would secretly sell them some monkeys at $700 each. The news spread like wildfire.
As the Merchant promised on his return that he would buy monkeys at $1000 each, they would achieve a $300 profit for each monkey.
 The next day The Villagers queued up near the Monkey Cage. 
The Employee sold all the monkeys at $700 each. The Rich bought monkeys in large lots.
The poor borrowed money from money lenders and bought the rest of the monkeys! 
The Villagers took care of their monkeys & waited for the Merchant to return!  
However nobody came ! .....
 Then they ran to Find the Employee ....However he was not to be found!
The Villagers then realized that they have been duped buying the useless Stray monkeys at $700each, and were now unable to sell them! 
This Monkey Business is now known as Bitcoin !   
It will make a lot of People bankrupt and a very few People filthy rich in this kind of Monkey Business.
 



Last edited by Quibit on Sat Dec 18, 2021 9:58 pm; edited 2 times in total (Reason for editing : typing error)

Sunimal likes this post

2Crypto Currency explained Empty Re: Crypto Currency explained Sun Dec 19, 2021 10:18 am

apple


Senior Equity Analytic
Senior Equity Analytic

A poor man doesn’t understand Crypto..
Will reply to this in 2025…😄😄😄

3Crypto Currency explained Empty Re: Crypto Currency explained Sun Dec 19, 2021 1:20 pm

Sunimal

Sunimal
Senior Equity Analytic
Senior Equity Analytic

I like that story anyway.  Very Happy

4Crypto Currency explained Empty Re: Crypto Currency explained Sun Dec 19, 2021 4:13 pm

Aweej


Stock Analytic
Stock Analytic

https://www.kapruka.com/shop/cryptocurrencies

5Crypto Currency explained Empty Re: Crypto Currency explained Sun Dec 19, 2021 7:48 pm

Thushara Ayya

Thushara Ayya
Moderator
Moderator

D.G.Dayaratne wrote:
Crypto Currency explained
 
An analogy in Layman’s terms
 
Not long ago a merchant found a lot of monkeys that lived near a certain Village 
One day he came to the Village saying he wanted to buy these monkeys ! 
He announced that he would buy the monkeys at $100 each. The Villagers thought that this man must be crazy
- How can somebody buy Stray Monkeys at $100 each ?
Still some People caught some monkeys and gave it to this merchant and he gave $100 for each monkey. 
This News spread like wildfire and People caught monkeys and sold them to the merchant. 
After a few days, the merchant announced that he will buy monkeys at $200 each.   
The lazy villagers also ran around to catch the remaining monkeys!
 They sold the remaining monkeys at $200 each.      
The merchant then announced that he will buy monkeys for $500 each! 
The villagers start to lose sleep!.....They caught six or seven monkeys, which was all that was left and got $500 each.           
The Villagers were waiting anxiously for the next announcement.
 Then the merchant announced that he is going on Holiday for a week,  but when he returns, he will buy monkeys at $1000 each!
 He also said that his employee will be in charge, and would take care of the monkeys he bought pending his return.              
The Merchant went on holiday!
The Villagers were frantic and very sad as there were no more monkeys left for them to sell it at $1000 each as was promised by the Merchant.
Then the Merchant’s Employee contacted them and told them that he would secretly sell them some monkeys at $700 each. The news spread like wildfire.
As the Merchant promised on his return that he would buy monkeys at $1000 each, they would achieve a $300 profit for each monkey.
 The next day The Villagers queued up near the Monkey Cage. 
The Employee sold all the monkeys at $700 each. The Rich bought monkeys in large lots.
The poor borrowed money from money lenders and bought the rest of the monkeys! 
The Villagers took care of their monkeys & waited for the Merchant to return!  
However nobody came ! .....
 Then they ran to Find the Employee ....However he was not to be found!
The Villagers then realized that they have been duped buying the useless Stray monkeys at $700each, and were now unable to sell them! 
This Monkey Business is now known as Bitcoin !   
It will make a lot of People bankrupt and a very few People filthy rich in this kind of Monkey Business.
 

According to my point of view, this is more suitable for the CSE than Crypto... Other thing is we have to study well, the "Block chain concept" behind the crypto currency.

6Crypto Currency explained Empty Re: Crypto Currency explained Sun Dec 19, 2021 7:52 pm

Thushara Ayya

Thushara Ayya
Moderator
Moderator

apple wrote:A poor man doesn’t understand Crypto..
Will reply to this in 2025…😄😄😄

Yes, don't trade, without knowledge... Spot is better option for the laymen.

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