You can ask any search engine this question, but the answer is dry and mostly unintelligible because it’s filled with undefined terminology, such as decentralized, blockchain, and the text is dry and boring. So here’s my better answer.
Cryptocurrency was created in 2009 in the form of Bitcoin, which has such a large value now, its value is about 2/3ds of all other cryptocurrencies combined. It has reached a market cap of $2 trillion at around $100,000 per coin, going up by over 1 million times, outperforming nearly all other investments in history, because it has about 10 features of money that are superior to all other forms of money, including gold and silver!
- Cryptocurrency is more scarce than gold. Gold is continually mined, adding about 1.7% each year to the world supply. Bitcoin is limited to no more than about 21 million coins, and this will actually shrink over time as people lose their passwords and some becomes unrecoverable. I mistakenly thought that there was no true scarcity, because anyone can create a cryptocurrency. However, just as any nation can make and inflate their own paper currency, this does not take anything away from the dollar; it can actually strengthen the dollar as people flee other currencies in preference for the dollar. Likewise, people flee poorly made cryptocurrencies, gold, silver, dollars, and other currencies, and continue to buy bitcoin.
- Cryptocurrency is perhaps impossible to counterfeit. I was a gold and silver dealer. I was put out of business, in part due to a counterfeiter. This guy!
https://www.kcra.com/article/grass-valley-man-accused-of-selling-counterfeit-gold/5989666
- Cryptocurrency is nearly impossible to steal. Yes, people can be tricked into revealing their passwords or tricked into sending their currency into a “new” wallet that belongs to someone else, but that can’t happen if you pay attention.
- Bitcoin is not a company, nor is it run by any one person. Bitcoin is the reward for running an open-source computer program that is the first one to translate a block of data, (bitcoin transactions) into an crypto code, that other computers verify, which starts the next block. It was designed in late 2008, the year that egold was shut down, and was likely created to be a form of digital money that could not be shut down, but decentralized and open-sourced.
- Nobody can be debanked by Bitcoin, since it is maintained by an open-source program run simultaneously on many different computers or arrays of computers. It is thus unstoppable money, where neither people nor transactions can be banned, nor can they be stopped, or reversed.
- Bitcoin transactions are secured by the agreement of over 51% of the computers on the network, and by being recorded on the blockchain, which cannot be altered. In order for someone to hack and control the chain, they would have to provide more than 51% of the compute power, and then they would only be able to reverse their own transactions, and only some of the time, which would likely devalue the entire currency, thus devaluing their own compute power investment, which would be better allocated in seeking to earn the bitcoin block rewards legitimately, and to help secure the network, rather than try to steal from it. So far, that theory is working in practice, successfully, since 2009.
- While crypto exchanges can and do go bankrupt, Bitcoin itself cannot go bankrupt. It is similar to gold. A gold bar cannot go bankrupt, but a bank that holds your bar for you can go bankrupt.
- Crypto is “on” 24 hours a day, 7 days a week, with no banking holidays, and won’t even suddenly turn off in times of war.
- Crypto is more fungible and more divisible than silver or gold. It costs money and time to remelt and re-coin silver and gold. This is automatic and free with crypto.
- In essence, cryptocurrency is money — a new and more modern, and a far better form of money that has ever existed before.
What is TEXITcoin?
TEXITcoin is a new cryptocurrency designed by Bobby Gray, founder of the American Open Currency Standard, a silver coin that was designed to circulate as money. Bobby was inspired by my writings on the nature of money from 2008…
https://www.gold-eagle.com/article/4-fundamentals-silver-price
My article may have inspired the development of Bitcoin. Bobby says it helped to inspire him to create TEXITcoin.
TEXITcoin was designed to have more monetary properties than Bitcoin, and is designed to solve several key flaws in Bitcoin.
Litecoin is a layer 1 blockchain built from a modified version of Bitcoin’s codebase, designed to lower transaction fees.
TEXITcoin is a new blockchain, a modification of the Litecoin program, designed to have lower transaction fees than even Litecoin. In fact, we can merge-mine Litecoin to help pay for electric costs, lowering our costs further, but Litecoin can’t mine TEXITcoin.
TEXITcoin is like a Bitcoin redo, or upgrade. It is a layer 1 crypto, creating its own blockchain from scratch, like Bitcoin did in the early days.
Like Bitcoin, anyone can mine Litecoin. And it’s rarely profitable to mine either one.
In stark contrast, TEXITcoin mining is permission-based only. TEXITcoin mining costs $995, and earns about $4-$5 per day of cryptocurrency (it varies of course), so the payback appears to be about 200 days or a bit more. However, TEXITcoin continues to gain about 40% in value about every month, so the realistic payback time is from about 74 days to about 140 days.
You can earn more money faster by referring others.
Second, TEXITcoin has an affiliate program, and an extra marketing budget, which encourages the adoption and growth that is helping to drive the price up so fast.
Third, TEXITcoin remains cheap at $1.39 per coin with a $60 million market cap. It is now a top 500 crypto. This means it has massive upside growth potential as it becomes a multi billion dollar coin. And it has the potential to topple Bitcoin.
Bobby has raised $20 million from about 8,300 people who are mining it. About 100 people per day are now joining.
The transparency is better than anything I’ve ever seen, with statistics at https://minetxc.com/statistics
How to Sign Up to mine TEXITcoin:
Step 1.) get an account at kraken.com or coinbase.com. Or use their apps on your phone.
Step 2.) link your bank account to your crypto exchange account and transfer money in
Step 3.) Buy USDC
Step 4.) the exchanges will hold your funds for up to 7 days before you are able to spend/transfer
Step 5.) Sign up at mineTXC.com (Use our Sponsor ID: JHOMM) (Get your physical address 100% correct, as they will ship you a cold storage coin that your crypto payments will go to. You primary job is to put that coin into a vault and keep it safe.) and select Crypo for the Payment type
Step 6.) Hit Submit
Step 7.) Select USDC
Step 8.) Select the Ethereum network to send.
Step 8.) Copy and paste that Wallet address to your Kraken or Coinbase “send” wallet.
Step 9.) Make sure you are on the same network (ETH – Ethereum) if using USDC
Step 10.) Send
Step 11.) toggle back to the signup page and wait for the transaction to complete.
This will result in the fastest onboarding experience. Otherwise, you could be waiting a while.
It is wise to get familiar with how to buy crypto, if you are planning to trade and sell crypto.
After you sign up, check your email and join the telegram groups for more updates and zoom calls to stay informed of the progress of the project and learn more.
If you would like our help over the phone, we are happy to help with any of these steps.
Jason Hommel (530) 559-2974
Jennifer Hommel (214) 883-6550
To see all prior articles I have published on TEXITcoin, you can search “TEXITcoin” in the search box on the main page.
My first article: https://revealingfraud.com/2024/11/uncategorised/why-we-bought-texitcoin/
I wrote that when TEXITcoin was 10 cents, now it’s at $1.34