Aunt Clorinda

Aunt Clorinda is always on top of every topic, she is a point of reference for the whole family and when she speaks we are always left speechless, our regret is that she remained a spinster but… it is compensated by the love she gives to all of us in the family.

She has a special gift, she explains complicated things in a simple way, let’s see some of her informative pearl.

What are we talking about?

If you search on the internet for the word cryptocurrencies, bitcoin and other shitcoins1, you will find an infinite amount of information that will give you a headache. Guru that are ready to welcome you with open arms to give you advice and training courses in digital finance for all those poor silly idiots that have only a real difficulty, that is, to define a list of a few simple topics on which you need to have a minimum amount of knowledge.

Aunt Clorinda is a convinced maximalist and proud of it

The maximalist is a fundamentalist of digital currency.

«You need to concentrate your energies solely and exclusively on the one and only true cryptocurrency the Bitcoin and leave the others alone because they are shitcoins».

The first step

Auntie, how should we move? At the moment we need to understand, not to skip the steps, to start without making mistakes.

Aunt Clorinda’s simple commandments

  • Buy and store Bitcoins yourself in your wallet.
  • Manage privacy properly for the Bitcoin.
  • Avoid spending money on buying information technology boxes for Bitcoin transactions.

The wallet

The digital portfolio called wallet is the fundamental component of your crypto kit, if in her purse Aunt Clorinda usually separates the banknotes into separate sections for example by denomination or by purpose of expenditure, the same thing is for the digital wallet we will never put everything together in a single compartment but, we will take care to separate them and label them in multiple elements UTXO2. Labeling allows you the wallet addresses to remember where the funds come from and how we spent them. For example, if I bought BTC3 on an Exchange4 x compared to an Exchange y I will have distinct labels.

The wallet is made up of many spendable elements called UTXO whose sum of the balances is the total of the wallet.

We understand, there are not values in the wallet but only numeric strings that through the query to the Bitcoin register will be able to provide us with the balance.

It all resides in this huge register called Blockchain.

First elements for crypto privacy

We simplify, cryptocurrencies are based on messages and as such in their conversation we must pay maximum attention. You can speak without worrying that others can hear you or, alternatively, take all care to have a greater degree of privacy in the conversation.

You must to know is that there are companies specialized in Blockchain analysis for further information: Chainalysis , TRM Labs , Elliptic , Nansen , Elementus , Dune Analytics , CryptoQuant .

Greetings from Aunt Clorinda

The Aunt is now unleashed in the next episodes.

  1. Shitcoin digital currency of shit, fluff, poop. These are digital projects of useless value that clumsily copy the computer technologies of Bitcoin. ↩︎

  2. UTXO acronym Unspent Transaction Output Output of Unspent Transaction amount of bitcoin that is on an address and that has not yet been spent by the owner. ↩︎

  3. ₿ Bitcoin symbol, code BTC or XBT. ↩︎

  4. Exchange is the currency exchange between euros and BTC. ↩︎