How the Bitcoin Network Is Silently Growing Roots in a Broken Economy

Share:

Final Thoughts

On the one hand, the regulation and control of currency have historically been the prolongation of cycles of global enrichment of the economy and the use and abuse of authority by governments.

In this fight between good and evil, technology enters, easily accessible through a simple smartphone, which is beyond central banks’ control and, therefore, governments.

This silent revolution will naturally give rise to revolutions and even possible wars.

But history is made of struggles between the central power of emperors, kings, and now governments against the people.

This novel always ends in turmoil that ends up in new ways of looking at the world.

Blockchain technology and the Bitcoin network will tend to gain more power.

Even with the legitimate doubts of intellectual personalities like Paul Krugman, who tells us:

Skeptics wonder why this is necessary and argue that crypto ends up being an awkward, expensive way to do things you could have done more easily in other ways, which is why cryptocurrencies still have few legal applications 13 years after Bitcoin was introduced. The response, in my experience, tends to take the form of incomprehensible word salad.

(…) It turned out, however, that many borrowers didn’t understand what they were getting into. Ned Gramlich, a Federal Reserve official who famously warned in vain about the growing financial dangers, asked, “Why are the most risky loan products sold to the least sophisticated borrowers?” He then declared, “The question answers itself.” Homeownership dropped sharply once the bubble burst.

I’ve been enthusiastic about blockchain and bitcoin, but not a blindly absolutist.

For those who love to read history, many things about economics and politics have more complex issues than solely the hype orgasmic trend of speculating assets.

If we believe these technologies can bring better outcomes to the majority, it’s a good thing.

But secret forces tend to work against the most vulnerable all the time.

So, let’s keep our eyes open, our skepticism awakened, and our hope of a better world on our agenda.

Nobody knows for sure if the bitcoin network will thrive, but it is opening doors of hope to those who most need it.

Let’s face it. Even if it doesn’t work, at least it was worth its creation because we realize how wrong our system is in a world kidnapped by the dollar and increasingly unequal.

The bitcoin network is a cry of revolt; it’s a libertarian technology.

Being attentive, not failing to take advantage of its multiplier capacity, and never losing hope for a better world, is what this technology has brought.

No one controls the world’s future, but everyone works to improve it.

This article is for informational purposes only, it should not be considered Financial or Legal Advice. Consult a financial professional before making any major financial decisions.

If you like to experience Medium yourself, consider supporting me and thousands of other writers by signing up for a membership. It only costs $5 per month, it supports us, writers, and you have the chance to make money with your writing as well. You can cancel the membership anytime. By signing up with this link, you’ll support me directly with a portion of your fee, it won’t cost you more.

Get access to my free books here!