As I write this note, we are probably seeing how many people are investing in a currency that does not exist physically and that for each unit pays $ 5,000 without the need to use a bank or any economic system in the world.
Bitcoin is today the Kardashian of social networks, but with a history every day more impressive as its own legend.
The famous Satoshi Nakamoto creator of Bitcoin is the Banksy in the art, his anonymity has led his character to be tirelessly sought after by technology magazines. But the truth is that Nakamoto is the flag by which a set of programmers reinvented the economic system as we see it.
Satoshi Nakamoto is the name used by the unknown person (s) who designed bitcoin and created its original reference implementation. As part of the implementation, they also devised the first blockchain database. In the process they were the first to solve the double spending problem for digital currency. They were active in the development of bitcoin up until December 2010.
Nakamoto has claimed to be a man living in Japan, born on 5 April 1975. However, speculation about the true identity of Nakamoto has mostly focused on a number of cryptography and computer science experts of non-Japanese descent, living in the United States and Europe.
As of May 24, 2017, Nakamoto is believed to own up to roughly one million bitcoins, with an estimated value of approximately $ 4.7 billion USD as of August 2017. Wikipedia
The coin printed on paper or produced in metal alloys always had a gold backing that assured the price of each of the fractions, although this “illusion” was no longer true in the 60s when the gold reserves were not enough to back up dollars.
At that point the “Cryptocurrency is very similar to art, the art paintings of the great artists have the value of their last sale in auction although its materials with which they created it do not cover in its totality its value.
Cryptocurrency are born of the consensus of a handful of people and generate value by supply and demand, much like works of art. The price of works of art as well as those of coins are “Agreements” where two or more people believe it as true, value exists.
We could use “cacao” and convert it into currency if we all reached an agreement faithfully believing that “cocoa” has value according to its demand in Volume and in the offer.
let’s discuss all the new technologies, because only we can achieve that this failed economy system can reinvent itself.
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