My Bitcoin vision of the future (1)

  • P2P network: A peer to peer network is a network where the participants connect directly. From you to you, without intermediaries.
  • Protocol: Computer software that functions as the “language of the network” and allows participants to communicate and understand each other.
  • Decentralized: Without a central entity.
  • Cryptography: Science that allows you to encrypt information. “Crypto” comes from secret, and “graphy” comes from text. Make a text secret.
  • HASH: Cryptographic function that encrypts information and also allows to create a unique alphanumeric sequence and a unique fingerprint for that information.
Bitcoin Network Diagram
  • Inflationary monetary policies: For more than a century, control of the currency has been in the hands of governments, completely monopolized. Something illogical in my opinion that in a free market, the most important element, which is money, is monopolized. We are all against corporate monopolies, but we do not even consider the fact that money itself is completely monopolized. Probably if it were not for Bitcoin, I would still not know or understand what this means, since its existence has made us question such fundamental things as what money really is. Every day, the Central Banks — because it has been decided that way — generate more money supply without the consent of the population, causing what is known as inflation. The reality is that every year each Spaniard is 2% poorer, since the purchasing power of the money they use to store their wealth has been devalued. The Central Bank and the big corporations earn money at the cost of a “legal and obligatory” robbery of all their citizens. And that in Spain, a country that uses the euro, a currency with responsible inflationary policies. When we go to more chaotic scenarios like Venezuela, the loss of purchasing power by the population can be reduced by 2% -5% DAILY. The prevailing monetary theories currently argue that moderate inflation (2%) is good for the economy. Although having this point of view is easy for governments and large companies, since they are directly benefited. I believe that a way to obtain financing by indirectly “stealing” from all the citizens of a region will never be something that I can consider good or legitimate.
Devaluation of the US Dollar 1913–2013 due to the inflation of the Federal Reserve
  • Dependence on commercial banks: For years, technology has allowed money to be found mainly in digital format. Due to the problem of double spending, the idea that I can copy my digital money and pay twice with the same currency, it has been necessary to have a trusted third party responsible for updating the accounts of each one and avoiding this problem. This, despite being the only solution (before Bitcoin and Blockchain) generates a great dependence on banks, giving them incalculable power. They charge very high commissions and at the same time, we give them access to all our financial information abandoning our right to privacy, and also, we don’t know if they are doing their job correctly. We simply trust them. Just because.
  • HASH SHA-256 generator
  • Satoshi Nakamoto Whitepaper

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Blockchain-Business Developer & DeFi Manager. Co-Founder & COO at Themar Solutions and Co-Founder of Cryptomaster Academy.

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arnau ramio

arnau ramio

Blockchain-Business Developer & DeFi Manager. Co-Founder & COO at Themar Solutions and Co-Founder of Cryptomaster Academy.

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