Script Writing
5th November Script Writing
From here we built it into a proper script(it still needs some work) which is here, unfortunately we have been informed that u our original plan of having multiple lessons during various middle school assembly periods is not possible as they have all been booked out with important things so we have had to compromise and have it in the end of year program which means less time for the lessons as it has to be condensed into one session, but also more fun as in my opinion these sessions will be a lot less formal then they would’ve been. ( I did try and upload photos rather than text of the script so far but it did not work. Huge thanks to Liam who helped massively with the script here.
Cryptocurrencies https://www.nerdwallet.com/article/investing/cryptocurrency-7-things-to-know https://www.globaltimes.cn/page/202106/1226598.shtml https://www.abc.net.au/news/2021-09-07/el-salvador-adopts-bitcoin-crypocurrency-as-legal-tender/100441472 https://finbold.com/guide/cryptocurrency-trading/
Lets begin this lesson with a few fun facts Cryptocurrencies are pretty crazily popular at the moment. You’ve probably seen a fair bit of the news going around recently. Here are a couple of news items from this year which might peak your interest:
Bitcoin has been accepted as a legal currency in a few different countries around the world, meaning people can use it day-to-day at restaurants and hotels or whatever. El Salvador was the first to officially make Bitcoin a legal currency, which we’re all pretty sure is just a cover for elaborate money-laundering through their corrupt government, but regardless the transition has gone pretty smoothly for your average Joe who wants to pay for his coffee with his phone on this lovely morning.
There’s been a massive shut-down of crypto-mining in China, mostly related to Bitcoin, and over the course of this year provincial bans have stopped about 90% of crypto mining in order to attempt to have greater control over their economy, with big players trying to find other places in the world with cheap electricity to power their mining needs.
If you’ve been on social media recently, you’ve probably heard of the hit new TV show “Squid Game”. Some crypto afficionados saw their chance and creating a pretty sketchy Squid Game cryptocurrency, advertising it across the internet. Big surprise, the whole thing turned out to be a scam, with thousands of investors losing out after, just like in the show, only one person, (in this case the original creators), ran off with millions of dollars.
A bit closer to home, Australia’s big banks are starting to incorporate cryptocurrency trading into their own apps, which means we’re just that little bit closer to using them in Australia.
Before we get in depth about crypto, lets outline what a currency is in general Before we can go onto different types of currencies we first have to go over what a currency is. Well a currency is a monetary system that is used, usually in a country, but what is money? A good surface level way to describe what money is, is to understand it as a physical representation of work. If you give money to someone maybe to buy tomatoes you’re exchanging the work you did to gain the money to buy them for the labour that went into the cultivating of the tomatoes. The interesting part to this though is there is no set amount of work to gain any amount of money, as the worth of labour is decided by the person hiring the labourer to do the work. With crypto currencies the labour that we pay for is usually the labour the computer that went through during the mining process. Like all currencies it is only worth something as many people agree it does.
Definitions Cryptocurrency is a type of payment, a lot like cash or a regular currency. And a lot like regular currency, it can be exchanged online for goods or services, or plain swapped out for regular money. You can think about cryptocurrencies as arcade tokens for the internet, and you can get more tokens by playing games and winning them, or just waiting for them to be worth more. When you want to leave the arcade, you can swap them out for regular cash. It’s not quite that simple, but we’ll get to that later.
Different Cryptos There are more than 13,000 individual cryptocurrencies traded online, for anybody to access. You’ve probably heard of a lot of the bigger ones, like Bitcoin and Ethereum, and some of the meme coins, like Dogecoin and Shiba Inu. If you were to combine the value of all the cryptocurrencies on the market, it would come to an overall $2.5 trillion dollars. To put that into context, the current richest person in the world, Elon Musk, who from week to week is worth roughly $300 billion dollars, is only worth about 12% of this. Crypto is a rapidly expanding market, and we’re here to teach you about a bit of it. F Theory vs Volatility Theoretically, cryptocurrencies are better than any regular currency. Using the advanced wizardry of Blockchain (we’ll talk a bit more about that later), cryptocurrencies are pretty much fully secure, since anybody can track any transactions that happen anywhere in the world. Cryptocurrencies are also a lot more accessible around the world, and allow people to transfer money in an easy and cost-efficient way compared to regular methods.In theory, cryptocurrencies are a lot more stable than regular currencies because they’re so secure, but that’s not always the case.
Regular currencies are managed by a single bank or entity, like the American Federal Reserve, which backs the value of proper currencies. Due to this, physical currency has a real-world value, which makes the value of the currency a lot more stable, and less likely to drop.
Cryptos, however, only exist online via a sort of virtual agreement between all of the people that own some of that cryptocurrency. If more people buy in, the value goes up, but it can fall just as quickly. Crypto doesn’t have any real-world value, which makes it a lot more likely to go up or down quickly. If you put all your money into cryptocurrency, there’s no telling what would happen – you could lose it all or win big. Either way, most of the world doesn’t want to use cryptocurrencies as legal currency yet because it could cause some pretty big disruptions of the economy as a whole, tipping the scales a bit too far. Bitcoin and other cryptocurrencies are really volatile, so you need to be careful investing into them.
Investing https://www.amp.com.au/investments/what-is-investing#:~:text=When%20you%20invest%20your%20money,involve%20different%20levels%20of%20risk.&text=You%20could%20make%20money%2C%20break,your%20investment%20decrease%20in%20value.
Let’s take a step back, and look at how investing works as a whole. Putting cryptocurrencies aside for a bit, let’s have a look at how investing in regular stocks work. Investing in regular stocks tends to be a lot safer in terms of keeping all your money compared to investing in cryptocurrencies, but you don’t make as much money from it.
Shares You’ve probably heard about shares before. When a company wants to get money fast, usually to start up a new project or get off the ground properly. Basically, if a company needs money, they can sell a percentage of themselves, offering people a share of the company’s profits in the long term in exchange for some money to start off with.
Economy
Blockchain Ok, so now we’re getting into the real crux of how cryptocurrencies work. Blockchain is, to dumb it down a bit, a fancy way of recording and distributing information, and it’s what things like cryptocurrencies are built off of. Blockchain is like a really elaborate shared excel spreadsheet with locked writing permissions, if that makes any sense. What I’m trying to say is that blockchain stores information in a really special and secure way, which is what makes it so useful; everybody can see every single update to the blockchain, and there’s a permanent record of any edits made. Alright, you guys ready to get into this? Let’s go.
Blockchain technology has been around since around 2008, and when cryptocurrencies really started to kick off it became really prevalent really quickly. The goal of blockchain was initially to provide
As it turns out, blockchain is extremely useful for other things than cryptocurrencies.
Trading How trading works
Mining how crypto is obtained: mining
Flutter (garv)