Have you you ever wondered, What would happen with Bitcoin before a system collapsed? If you are a criptoversiano, probably yes; and but for here I will discuss which could be the scenarios for the criptomoneda leader. Before you continue (and I cross them out of non-sense); everything you post will be speculative, since Bitcoin has not touched going through a crisis or collapse of a global system during its existence. We assume that the creation of Bitcoin 11 years ago was not accidental. And so shaped by Satoshi Nakamoto in the block of Genesis; when he made reference to a publication in the newspaper London Times. The economic crisis was caused in large measure by the banks which participated in the trading of hedge funds with derivatives and then they demanded more mortgages to support the sale profitable of these derivatives. Essentially, the bankers kicked the economy in the world and everyone suffered. Less the same bankers. In this way, Bitcoin emerged as a response to the financial crisis between 2007 and 2008. However, Bitcoin just ceased to be an article shared on forums of programmers; when the global economy was trying to repair itself. It was more an idea and a theory that something that could be taken seriously. But with the passage of time; Bitcoin, Blockchain and other cryptocurrencies have been positioned as a true upset to the existing system and as an alternative to the same.
Contents
How could the system fall?
A system in crisis, you just need a trigger to trigger its fall it May not seem simple as a system may collapse. Even more so if those who control that system seem invincible. But, surely you will remember Kodak, Blockbuster, Napster, and Concorde among other companies. These companies became world leaders in their sectors and are now only stories of failures. The reason that now no longer exist, it is because it reinvented and turned to watch the development and technological advancement from their dressers. Becoming obsolete for the world. And this is precisely what is happening with the system as we currently know it. This symbiosis corrupt between Governments and bankers. This system is sick, is saturated with debt and the solution that claim to give you is to follow up. It is like trying to get out of a hole in the ground, digging deeper. Our human nature makes us always look to improve our current state. And this has served as an excellent proof to those who control our system; since it allows them to create unlimited money arguing the idea of a better environment. The idea will endure for a time, while they transfer all the debt to future generations so that they will manage and pay for our loans. The problem is exacerbated when each time we need more debt to be able to move a tenth of one percentage point to the economy; making the weight of that debt and its associated payment to be overwhelming. But according to the story, there will be a system collapsed, when you accumulate this debt is no longer sustainable for those who have to pay; feel that they have nothing to lose and that is when everything crumbled like a house of cards.
But What will happen with Bitcoin before a system collapsed?
In a scenario of “every man for himself” with a system collapsed; where an economy falls into a tailspin, the options for shelter are scarce; making them valuable for those who do not. The most obvious case par excellence is the gold. This precious metal has served as a refuge and protection of wealth for centuries. Despite this, falls into oblivion for long periods of time; but in the time that it is sought after as a safe haven, its value shoots up. The reason for this; is because it is scarce, you can not print anything, it is costly to remove, is durable, and is fungible. The people you treasure in those moments because he knows that few have and that in the near future someone will accept as a medium of exchange. In the end, it is still the same metal. But it is its potential usability and merchantability which gives it that value. And in that sense, Bitcoin complies with the same conditions and some more. And to this, in the middle of the fuss, having precious metals will be somewhat complicated to carry and hold. Even the governments might try to confiscate “for the good of the State”, as has happened in the past. This puts Bitcoin at a significant advantage. Since what we actually have is information that you can carry from one border to another without much complication. Bitcoin is not controlled by a central authority. In countries where people increasingly distrust of how the central banks and governments administered by the States, Bitcoin would seem to be an alternative more sensible as a store of value. Not as a reserve price.
Conclusions
In the end, we must not forget that the money won represents the transformation of our time, our energy, our knowledge and freedom invested in to generate that money. If the governments and banks control the money, it means that to a certain extent control the wealth that you as an individual belongs to us. However, each person decides in which to store and preserve their wealth. With fiat you’ll have to trust your government and their banker friends, and with gold you can trust in the story and with Bitcoin in mathematics. You decide. The following two tabs change content below. Engineer, lover of economics and technology; Convinced that Blockchain will empower them to future generations, giving them freedom and sovereignty to each individual.