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The cryptocurrencies era

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Welcome to the future: the century of cryptocurrencies. But before launching into the world of cryptocurrencies, an exchange that is currently highly developed, it is very appropriate to take a small step back.

In this brief time lapse, therefore, we find ourselves in 2008, which is the year in which several governments had to intervene to save the banks. The year in which the entire global economy was in full crisis.

In addition to the collapse of the entire banking system, 2008 was marked and characterized by the fact that, being totally and completely dependent on the banking system, in the end the high price that was paid was borne by the taxpayers. . In practice, from this very heavy event and from this very hard lesson, everyone has been able to understand how weak and, at the same time, dangerous the imposition that is imposed on us in having an unconditional trust in the banking system.

Now, as we are projecting into the future, we focus our attention on the fact that, as a more than consolidated practice, banks use our savings to sell money to other customers who need it, as well as work with a part of our invested money. In other words, our money is currently on the market. In all of this, how many pause to think about how safe such an investment can be? How many are able to understand that, for example, investment in currencies depends on the policy of that particular state? How many can imagine when inflation could occur and what the consequences could be? Therefore, in case of any system error, it will be really difficult to be able to withdraw all our savings in the bank! Fortunately for us, when it seemed that the 2008 financial crisis was dead end, a light came on and this event was thanks to a pseudonym, Satoshi Nakamoto.

In fact, it was precisely in 2008 that the first decentralized cryptocurrency was invented, Bitcoin, that is the cryptocurrency that no government or bank can influence, the cryptocurrency that launched us into the future.

 

How cryptocurrencies work in the Bitcoin era

In order to make it possible to easily and immediately understand how cryptocurrencies like Bitcoin proceed, the decentralization of their market should be highlighted.

This, in a nutshell, means that, on the one hand, they are not protected by any central bank and, much less by a government or other central body, and, on the other, that all cryptocurrencies are managed by the one that it is a network of servers and computers.

In addition to this, in the functioning of cryptocurrencies, three fundamental aspects should be remembered. The first, considered by many Bitcoin admirers to be the central point of the whole issue, is the fact that there is no link between what is called the "economic performance" of a country and the trend inherent in the world of cryptocurrencies.

The second aspect, also of great impact, can be summarized in the fact that, both what are known as "monetary policies" and the equally known "interest rates", do not determine any impact on what is the relative value of cryptocurrencies .

Last aspect, but not of lesser interest for this, is given by the fact that most of those who decide to invest in Bitcoin prefer to keep this cryptocurrency, waiting for its value to increase and then proceed with its conversion into a more traditional currency.

So, if it was intended to be able to undertake new currency projects or to venture into interesting financial projects but also to pay for services offered by an ever-increasing number of companies, to purchase various goods, to transfer money between private users and so on, Bitcoins, to conclude, are an excellent prospect to be sure of going to experience as protagonists what has been defined by experts as the Century of cryptocurrencies.

 

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 9/30/2020

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