The Chain logo

The Mystery of Bitcoin

by Mikey B 2 months ago in bitcoin

Why I think it exists.

In a desperate attempt to control the inevitable collapse of entire economies, as well as ways to advance their technologies, world leaders came together to figure out a solution to the ever growing problems that we're faced with, cryptocurrencies. With the current situation being that each country has its own currency, constantly fluctuating, there needs to be a system of currency that connects everyone on a global level. That way if an entire country fell into an economic collapse, they had some sort of global economy to fall back on besides silver and gold. Truly a brilliant idea, and with no know creator this keep speculation and panic to a minimum, because if the masses found out it was created by our governments, we would surely fall into chaos.

For something to have value, there needs to be purpose, which raises the question, what is the real purpose of these currencies? What work is being done for them to have value? Yes these mining rigs are solving complex algorithms, but why? My answer is simple. Everything involving the digital world. From running the internet, to keeping servers alive, to aiding in the development of artificial intelligence. it's building the woven matrix that is the digital world. governments need money, and they also need power, that's why people mine. its "free aid" for them since they created it, and easy money for us. because it is the people who are doing the "work", determining the price of these currencies, mining it, and using it as a form of currency. It slowly disappears between each transaction, forcing the value to increase. This creates a sense of value because of diminishing supply, honestly how an economy should be. The dollar has an average of four percent inflation per year. meaning the longer you hold onto money now, the less value it will have later. cryptos are the opposite. the longer you hold onto them, the more value they will have later, right? that's what we want to believe.

If we had a massive economic collapse now, we would not revert to trading precious metals. This is why crypto is becoming more and more important, because it's the people that determine its value. there is no government that can print it, regulate it, or distribute it. the price is controlled by the people themselves. This also makes it volatile, and uncertain. All we know is that over time it becomes increasingly difficult to mine, and micro amounts are lost between transactions. So why invest in the first place? the behavior of the currency makes sense, it sounds like there's opportunity for gain. But there are too many unknowns for me to feel comfortable with it. Its a shot in the dark. Maybe that's your style, it definitely isn't mine.

This also brings me to another possible theory. what if it just disappears? What if the creators of these currencies just decided to delete them? wouldn't this make billions, even trillions of dollars disappear from multiple economies? Yes. Yes it would. it would cause the biggest deflation in the history of ever. and why would they delete them? because the job is complete. these mining rigs are doing work and we have no idea why. to me this is very concerning, its personally why I never invested in them. if I did when I first heard of the opportunity I would be a multi-millionaire. for something to appear out of nowhere, and its audience is everyone on the planet, makes me too skeptic for the chance. it could be around for another year, or eternity. Or maybe, the world will never know. but i think this is foreshadowing something that's coming.

bitcoin
MB
Mikey B
Read next: Top 5 Advantages of Blockchain Technology
Mikey B

Let the ink flow

See all posts by Mikey B

Find us on socal media

Miscellaneous links