History of Bitcoin (1)

Today’s takeaways

• Casual 상황에선 want, formal 상황에선 would like to 사용 추천
• And, so, however은 보통 문장 맨 앞에서 사용 안함 (한국 학생들 이렇게 쓰는 경우 많이 봄) ; Semicolon 적고 그 다음에 적는게 좋음

e.g. Recently, I invested in Korean bitcoin; however, I have already lost a bit of money. 

• 영작 할때 grammarly로 바로바로 체크하지 말고 우선 영작 다 해보고 그 다음에 확인해보기

 

기타 생각 안났던 표현

• 분사하다: the company was split into two separate companies

A split-up is a financial term describing a corporate action in which a single company splits into two or more independent, separately-run companies.

 

What did you find interesting about this topic?

I selected this Ringle packet because I am currently working within the blockchain industry. My company is primarily involved in working with NFTs (non-fungible tokens). Although I have become familiar with blockchain through my job, I would like to gain a deeper understanding of the subject.

 

What is NFT?

NFT stands for non-fungible tokens. In this context, "fungible" means the token is able to be exchanged; thus, "non-fungible" means that the tokens cannot be exchange with others. With NFTs, the tokens are non-fungible because each one has its own unique value. Some NFTs are very expensive, so people purchase them for status or as an investment strategy. In terms of status, some people will obtain rare or particularly valuable NFTs as a way to set themselves apart from those who do not possess NFTs. For investing, people will buy an NFT for a cheaper price, selling it when it increases in value, and earn money just like the stock market.

When I rephrased this, I wanted to make the two reasons why people buy NFTs seem more "together" by putting the sentences explaining them right next to each other in parallel.

 

Why was Bitcoin introduced into the market?

Bitcoin was introduced to the market by Satoshi Nakamoto as the rst cryptocurrency. The intended purpose was to create a monetary transaction system that did not require third-party intermediaries, such as banks. As a result of the public ledger design, transactions are easily veried, and everyone within the blockchain can trust each transaction without the help of an intermediary. I believe that this system gives people many more options for trading within the nancial market than traditional payment systems.

Here, I changed the first sentence from active to passive voice -- thus, Bitcoin becomes the focus; in the original answer, Satoshi Nakamoto is the subject and the first thing in the answer, so it takes the listener a moment to notice that the speaker is talking about Bitcoin, not about Mr. Nakamoto.

 

Have you heard about Bitcoin before? If so, how, when, or where did you hear about it?

I first heard about Bitcoin two or three years ago when I was working in Singapore. A friend of mine from Korea told me that Korea was suddenly very interested in Bitcoin because its value was soaring rapidly. At the time, I did not feel condent in making a Bitcoin investment because I was not sure how it worked and thought it would be too risky to invest my own money in it.

 

Have you or would you consider investing in Bitcoin?

Recently, I invested in Korean bitcoin; however, I have already lost a bit of money. My company is currently focused on two area; I work with the NFT side, but the other side is involved in the development of Korean bitcoin. I chose to invest in the company's cryptocurrency because I know the high and low values, and am hoping it doesn't lose any more value. In Korea, there was once a cryptocurrency called Luna, and many people put their life savings into it. However, due to some errors, the cryptocurrency value fell to zero, and the operators ed out of the country. Many people lost everything, and some even committed suicide. I believe the crypto investing industry right now is very unstable, and I know that the Korean government is working on ways to educate investors and regulate the market so that it will become safer for people to invest in cryptocurrency.

 

Do you believe the demand for Bitcoin will continue to increase? Why?

I believe the demand for Bitcoin will continue to increase; however, there are still some obstacles the market needs to overcome. Regarding Bitcoin, I have observed two primary issues that should be solved in the near future. First, I believe there should be tighter government regulation concerning the cryptocurrency investment market. Many people put too much money into Bitcoin or other crypto currencies, putting themselves in deep nancial trouble if the value slumps. Second, cryptocurrency exchange companies need to be more cognizant of cybersecurity and gure out how to protect investors' coins from being stolen by hackers.

cognizant: having knowledge or being aware of