Join us at the Victoria Cryptocurrency Group Meetup for an in-depth discussion on the latest developments within the cryptocurrency landscape.
Some of you may remember our previous meetings where everyone created a currency using only pen and paper. One of those currencies was called the Medysto. It was the one created by Reggie at the meeting.
The Medysto is far beyond the pen and paper stage now. Today, March 28, 2024, the Medysto began running as a token on the Cardano blockchain. It may soon be listed on a crypto exchange.
Creating a cryptocurrency or token can be complicated. But there is a very, very easy way to do it. The way Reggie did it was to show up for one of our meetings with a pen and a blank sheet of paper. Then he followed the instructions provided at the meeting on how to start a paper-ledger currency. Basically all you have to do is write down a name for your currency and record the amount of each transaction in your currency.
Then, people at the meeting traded their own currency for those of others. Some people created currencies and used some to buy Medystos. That may turn out to have been a very good move.
The next step was that Reggie used some of the currency he had just created to pay someone else to do all the computer stuff (which was very complicated) to create a token on the Cardano blockchain and replace the paper ledger with a blockchain ledger. He also paid $100 of regular money, but that might not even always be necessary.
So, this can be done and it’s very easy to get started. Everyone who attends this meeting will be able to create their own currency during the meeting without even using a computer. The hard part is getting your currency to have any value. But we’ll be demonstrating how to do that, too.
The currency you create can become a cryptocurrency, but you can start it with just a pen and paper. So please bring a pen and paper to the meeting. Even if you have no desire to create your own currency, doing so temporarily should help you learn about crypto, about markets, and about the economy.
If you do want to start a currency of your own, this will get you started and show you the next steps to getting it to have value, to be traded on markets, to convert it to a cryptocurrency and to be able to spend it to buy tangible products such as groceries.
For those of you who may want to see the Medysto on the Cardano blockchain, you can see the image of the token and information about it at any blockchain explorer that provides information about the Cardano blockchain. Currently the Cardano blockchain is the 9th largest in the world by market capitalization.
Here are two good sites to view cardano information:
pool.pm
cardanoscan.io
For either one of these websites, all you have to do is cut and paste the policyID number for Medysto in the search bar of the website and hit enter. On pool.pm, you click the magnifying glass icon in the top right corner to get the search bar to come up. The policyID number is cd4bcb5c50e3303a052c3e3b5c8c0f667effcfa1694020110c6e080c
Use this number to search, not the name of the token. More than one token can have the same name in Cardano.
Pool.pm will show the image of the token. It looks like a compass. Click on that for some more info. Cardanoscan.io has more information readily available, but doesn’t show the image.
📅 Wednesday, April 17, 2024
🕔 Time: 11:45 AM – 1:15 PM PDT
📍 Turmeric Indian Cuisine
777 Goldstream Ave · Langford, BC
👉 RSVP
✨ The Victoria Cryptocurrency Group was started in 2013, making it the oldest and largest meetup group in Victoria, BC for people interested in Bitcoin and other cryptocurrencies.