Alberto Martinez – Part 2 | Web3, Cryptocurrency, and the Blockchain

What is a quick breakdown of blockchain?

Every blockchain works on its own technology and programming language. The two most popular blockchains are Bitcoin and Ethereum, for the time being.

There are also altcoins, which are smaller cryptocurrencies.

The entire theory of the original blockchains is for it to be decentralized so that one person or organization cannot own it. However, now companies are funding their own blockchains so they can do what they prefer on particular blockchains.

Open source is becoming incredibly common and is a powerful movement for programmers so they can build off of each other’s work.

Even major companies, like Facebook, have realized React, which is an open-source technology for developers to review and use.

How does gaining and losing money work with bitcoin?

The gains are made on decentralized exchanges. You can go in and transact on your own, but at your own risk.

There is no control by any other entities. It is completely decentralized. It’s called an automated market maker.

People running the markets create a liquidity pool and profit from fees, gas fees as they are called, when people exchange and run transactions.
 

What does mining bitcoin mean?

At the moment, Ethereum eliminated mining.

However, you need a computer to start. Just like mining in a cave, you need a pick axe and a wheelbarrow and such.

When you’re mining crypto, it calculates very intensive computer problems. It decrypts a computer problem, but you need hardware to come to the solution.

When you’re running calculations and end up successful, you are rewarded in cryptocurrency. It’s essentially proof of work. This takes up a massive amount of energy.

What is it that Alberto does with all of this information?

As a developer, it is beneficial for Alberto to understand how all of this functions. Now, Albert does smart contract programming.

He creates programs that run on top of the blockchain. There are standards now in smart contracts, so whether it is a transaction or staking, or digital asset proof, he has to adhere to them.

Alberto acknowledges there are multiple phases.

Phase 1 was owning. For instance, if you own a compact disc or vinyl, you get a paper receipt, you have it, and you own it.

Phase 2 is where we are right now, where you rent. Think like streaming music or tv shows or even podcasts and audiobooks. It is renting rather than owning. People don’t often go out and buy DVDs or VHS tapes anymore.

Being de-platformed makes this a scary phase to be in for creators and influencers.
 

What did Alberto bring with him?

Alberto’s items of significance are any of his NFTs and, more specifically, any NFTs that he has created. These are important to him because they woke him up to the idea of this industry.

He got into the industry by buying crypto and going through altcoins, and trying to profit from dips, gains, and losses.
 

Where else did Alberto sell graphics?

Albert sold on Etsy for a long time, selling AI and graphics. For him, it almost felt like he was selling air, since he wasn’t buying overhead or selling legitimate products.

It wasn’t tangible, as he was selling. Digital files changed his life. He only has to make it one time, upload it, and then people could continually order without him having to do anything.

But unfortunately, he got de-platformed.

That is when it hit him – he could be de-platformed from any platform, that includes Shopify, IG, Facebook, all of them.

By growing social followers, he is helping the brands, but if they cut him off, he is done.

He knows a lot of other people felt this way, too. That is where Web 3 comes into play. When Web3 came in, he saw the major change that could happen with it.