Jeffrey Velez

29 January 2023

Professor Eugene

Writing 2

January 1, 2019

I am going to be writing this journal to show hopefully how I got rich. I am just a broke

first year college student and an economics major. I want to make some side money to help out

with the expenses that come with being in college. Isn't it everyone's dream to make a side

income in college to cover expenses since college can be very expensive. Well it's at least my

dream to make somewhat a side income. I was in class and overheard other students talking

about cryptocurrencies and it really caught my attention. I am going to start researching how to

make side money with cryptocurrencies.

January 15, 2019

So I have been researching cryptocurrencies. This is what I have learned about

cryptocurrencies. Cryptocurrencies are just a type of digital or virtual money that uses advanced

computer technology for secure financial transactions. What makes it really interesting is that it’s

decentralized meaning it is not controlled by anyone including banks or the government.

Cryptocurrencies are based on complex mathematical algorithms. Cryptocurrency transactions

are recorded on a public digital ledger called a blockchain. With the blockchain it allows for

transparency and security. People can buy, sell and store these currencies using digital wallets

and make transactions without the need of intermediaries such as banks. The government is not

able to regulate the currency since it is not the federal government currency. All of this can

cause some negative issues but overall it is a new way of side income just like stocks.
January 28, 2019

Bitcoin is a digital currency that works differently from regular money. It's not controlled

by a government or a bank, but by a computer network using advanced math. This network

makes sure transactions are secure and that new units of the currency are created fairly. People

can buy, sell, and use Bitcoin online like regular money. After all this research I have found

some examples. I want to put my money on bitcoin since it has less volatile over the years.

Bitcoin is one of the most popular digital currencies there is at this time. It has grown in popular

demand and I seek to invest in it .I also learned something while researching even more “fiat

money that does not depend on having a central payer (the US federal government, the local

electricity company), but that circulates merely as a social convention. Everybody accepts the

intrinsically worthless token because everybody does.” (Fernández-Villaverde, Jesús). This

really stuck to me because I believe that this is true because it is worth something because we

accept it and believe it is worth something.

March 29, 2019

It has been a couple of months since I have put some of my money into bitcoin and it is

skyrocketing. I am up 200 percent on bitcoin. I think I want to invest more into cryptocurrencies.

I believe that the next cryptocurrencies that are going to skyrocket soon is Ethereum. As the

months went by, my investments continued to grow in value. I became something of a

cryptocurrency expert, and began to share my knowledge with others. I began to invest more

and more money into other cryptocurrencies, such as Avalanche and Litecoin. These coins are

less known which has a greater return on investment but have higher risks.

May 20, 2019

I even started a small business, consulting for people who wanted to invest in digital

currencies. Eventually, my investments had grown so much that I was able to quit my part-time
job and focus on his business full-time. I had gone from being a poor college student to a

successful entrepreneur, all thanks to my early investments in cryptocurrencies

August 29, 2019

I didn't forget my roots. I used his newfound wealth to give back to his community, and

often spoke about the importance of financial literacy and the power of investing. I continued to

educate people about cryptocurrency and the potential it holds for the future. I want to show

others that it is possible to profit off cryptocurrencies and is the future of money.

Citation:

Fernández-Villaverde, Jesús. “Cryptocurrencies: A Crash Course in Digital Monetary

Economics: Cryptocurrencies.” Australian economic review 51.4 (2018): 514–526. Web.