SmartContracts

This is an edutainment post.

@markizano.draconus

Let's talk about ##SmartContracts ! ##bitcoin ##CryptoTalk ##Blockchain ##ethereum ##Cryptocurrency

♬ original sound - Markizano Draconus

So let's talk about SmartContracts!

The What

Smart Contracts are programs stored on Blockchain technology that are executed when certain conditions are met.

You can think of SmartContracts programmable money! Imagine if/then statements embedded in your monetary transactions!

Application

SmartContracts can be written in a few languages like Solidity and Rust. You can write these programs to do things like detect changes in other Blockchains using ChainLink, automatically distribute money when certain conditions are met and so much more!

Example

A common example of a SmartContract could be an insurance policy. Let's say we have an oracle, like ChainLink recording temperature and weather data and writing that on its Blockchain. A SmartContract could be written to do a few things:

• When you pay into this contract, start up a policy.
• This policy will begin to monitor the temperature and the weather.
• If it doesn't rain for a consecutive 90 days || or || if the average 90 day temperature is above 95F, then...
• Pay out the farmer the investment on the policy to ensure he's compensated for the loss.
• IF not: pay the shareholders back their investment.

Summary

SmartContracts have a lot of potential to do a lot of things including creating entire organizations. but those are DAO's and that's for another video worth a subscription ;)

NFT: Non-Fungible Token

NFT's: Non Fungible Tokens

This is an editorial edutainment post.

@markizano.draconus

So let's talk about ##NFT 's! ##NonFungibleTokens ##Crypto ##CryptoTalk ##Bitcoin ##ethereum

♬ original sound - Markizano Draconus

So let's talk about NFT's, or, Non Fungible Tokens!

NFT's, or Non-Fungible Tokens are certified unique items! There will only ever be 1!

NFT's are mostly applied to Art. So imagine having the Mona Lisa. You got it from the original artist and you hold one of the few originals created in the world. I can take a picture of it all day long and print that picture, but it's not the original artwork! An NFT is a representation of the original work and can be verified on the blockchain.

Ownership of an NFT can be single or many. However, it's not like cutting off pieces of the Mona Lisa. Instead, it's more like a company: Where you have stakeholders in the company and multiple owners of the same entity.

That is a common way to explain an NFT, but it's by no means the only way to apply it.

Anytime you need to sign, certify or agree to something? That can be an NFT!

Now, this might be years in front of us with policy and what have you, but, putting all that aside for a moment, your vote can be an NFT. There will only ever be one and its identity is linked to you.

Now, imagine being able to design your home: The floor plan and where everything is laid out. Now, imagine being able to have that 3D printed... Once printed, you can take the design and layout and create an NFT out of it. Want to sell your home? Transfer ownership of the NFT to the next party. Taking on a roommate? Simply dilute ownership so you both have a name on the deed. Ready to move out? Simply sell the diluted ownership to the party taking over the house.

I know NFT's have mostly been applied to Art. However, that's not the limit and there's so much more to be had with NFT's, it's unfathomable!

BITO: The New BitCoin ETF!

BITO: Proshares Bitcoin Strategy ETF

This is an editorial edutainment post.

@markizano.draconus

Let's talk about the new ##Bitcoin ##ETF ! ##Crypto ##CryptoTalk ##investing ##BITO

♬ original sound - Markizano Draconus

This is the ticker symbol for the new ETF on the market today as of 2021-10-18. This ETF will not be what you'd expect since it's not a traditional ETF. In most cases, when you buy into an ETF, it will go and buy an equivalent amount of the underlying asset. If there are underlying stocks, real estate, or precious metals like gold and silver, the ETF would go and purchase the actual underlying asset.

Indirectly, this can impact the price of Bitcoin, but not in the way you would think and by no means would it be predictable nor consistent for at least five years (personally, I believe).
This does two major things that I see:

• It gives institutions that must abide by financial governance ability to invest in Bitcoin without owning it.
• It re-creates the same issue with gold into fiat in that they are dilluting the value of a promise in place of the actual asset itself.

I also believe this is a great first step for the long-term investor who might still be skeptical of the Power of BitCoin™ and its possiblity and potential. The Future of Finance is now and we are witnessing its construction.

What do you think?
Drop a comment below.