avatarAlexandros Roumpos

Summary

The article discusses the transformative potential of Bitcoin and blockchain technology, emphasizing the shift towards decentralized finance, the importance of taking control of the monetary system, and the original vision of Bitcoin's creator, Nakamoto Satoshi, for a currency free from central authority.

Abstract

The article "Bitcoin: Don’t Lose The Point" delves into the significance of Bitcoin and blockchain technology beyond mere profit. It traces the evolution of cryptocurrencies since Bitcoin's inception in 2012 by the enigmatic Nakamoto Satoshi, highlighting the proliferation of over 5000 blockchain-based coins. The author argues that blockchain is poised to leave a lasting impact on the modern world, not only by revolutionizing currency but also by enabling decentralized finance (DeFi), smart contracts, and the tokenization of assets. The piece underscores the potential for individuals to gain control over the monetary system, free from government and bank interference, and the ability to hard-code monetary policy into cryptocurrency code. The author reflects on the historical opportunity presented by cryptocurrencies to democratize financial power and prevent the manipulation of the monetary system by elite institutions. The article calls for a return to the core principles behind Bitcoin's creation—freedom, privacy, and the distribution of financial control to the people.

Opinions

  • The author believes that blockchain technology will be a defining force in modern society, impacting far more than just currency exchange.
  • There is a strong opinion that the true value of cryptocurrencies lies in their ability to democratize control over the monetary system, rather than simply as a means to make money.
  • The article suggests that the adoption of cryptocurrencies could end the cycle of financial crises followed by taxpayer-funded bailouts, which often benefit those responsible for the crises.
  • The author expresses that the importance of taking control of the monetary system is akin to Prometheus giving fire to humanity, symbolizing a significant leap in societal empowerment.
  • The piece conveys a sense of frustration with the current financial system, where banks and governments have disproportionate control and can manipulate the system to their advantage.
  • The author emphasizes the right to privacy in financial transactions, asserting that it is something worth protecting.
  • A call to action is made for individuals to engage with the cryptocurrency space not just for profit but to understand and support the original vision of Bitcoin as a tool for freedom and decentralization.

Bitcoin: Don’t Lose The Point

There Is More Than Profit Behind Bitcoin. A Game-Changer Opportunity

A hand holding one Bitcoin, from Shutterstock

It all started in 2012 when the first cryptocurrency was released. It was Bitcoin whose creator is unknown but has the name Nakamoto Satoshi. From then until now, more than 5000 coins based on blockchain technology are released.

Some of them vanish to thin air, the same element from what they were made. Some others survive and are developed in such a way to solve everyday problems. There is no doubt that blockchain technology is one of the technologies that will leave its footprints in the modern world.

Except for the cryptocurrencies that eventually will become the new kind of exchange, the new form of money, there is much more they will contribute to. Take for example the new hype that is known as DeFi (Decentralized Finance). Smart contracts will boost the transactions of any kind, cutting the middle man.

In general, we could say that any natural good could be tokenized. You could have tokens that would represent an amount of gold, silver, corn, petroleum, or even land and buildings. Furthermore, they could be a new form of stocks and shares.

I hope you get the big picture. Everything can be digitalized and tokenized and you, the owner of the tokens will be the owner of the physical good that is tokenized. That is said, to show you what is happening, how big this game is, and how much is at stake.

Back to the reason, I started writing this article.

Nakamoto Satoshi had the dream to create a currency that is decentralized with no authority to control it. No one can generate more Bitcoins than the amount that is hard written in the code of the Bitcoin. No government neither a Bank can freeze your account nor take your Bitcoins. Under no circumstances, no authority can cut more Bitcoins (money) to put them in the economy for any reason, say it Covid-19, say it a crisis, say it God wish.

Right now the European Union is trying to make the digital Euro, a kind of cryptocurrency to put in circulation and make people adopt it. They are trying to take advance of this new technology and take all the credits and control it.

I am here to remind you that for the first time in human history there is a great opportunity. To take control of the monetary system. Not a Bank, not a government neither a King will have the control. We all can agree on how the monetary system should work and hard code it in the code of a cryptocurrency. The one who controls the money controls your life. Let it be you.

Don’t you get tired of hearing that the one or the other bank is bankrupt and now you should pay the bill through the taxes you give every single year? Knowing that the people who are responsible for the bankruptcy have made a fortune, make it harder to swallow.

We are exactly at the right time to make this shift. To take control of the monetary system. Don’t let others control something that can affect yourself and your life. Most important there is no reason to have a Bank and all the bankers who have more power than the prime minister of a country to manipulate the system.

When I started to get involved in the crypto world, I was fascinated by this concept. No one else can control your coins and the transactions were anonymous. Yes, I have something to hide and it is my right to have privacy.

After the first excitement, I get focused on how to make money from cryptocurrencies and started to trade and take part in some projects. I forgot what the true goal was. I forgot why Nakamoto Satoshi at first has created Bitcoin. I believe most of us who are involved in the crypto space have forgotten to. It is not to make a fortune.

It was about freedom. It was about giving control of the monetary system to the people. It is an act like Prometheus has taken the fire from the Olympian Gods and give it to the humans. The importance of this act is the same. What were the benefits of the fire? The same importance has the monetary system in our lives.

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Bitcoin
Finance
Cryptocurrency
Crypto
Money
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