Rewinding some thoughts from the crypto world

A couple of days ago, I asked the noise.cash community about the difference between cryptocurrency and token. The answers touched on both extremes; some honestly admitted not knowing; others with precise phrases unequivocally and pragmatically stated the difference.

Today, there is jargon in full swing that feeds back into the return to the channel traced by the pioneers of the digital revolution that came with the internet.

In that sense, I often hear or read about the maximalist attitude of Bitcoin, which claims to be the real thing.

I wonder, is it genuine conviction, induced or convenience?

Some derogatorily claim that other cryptocurrency projects are garbage and should not exist.

They even orchestrate disinformation campaigns and censor those who do not think like them.

A total irony when considering the connoted and background motives that give rise to the marvelous technology where cryptocurrency and blockchain converge.

While I find the struggle and lack of consensus in the development of Bitcoin that delays its ultimate success a waste of energy. On the other hand, I applaud the diversity of options that try to exploit the potential of this disruptive technology.

Bitcoin has the longest run among all crypto assets. However, it is still relatively new; therefore, with great potential for growth towards the logical evolution of money.

Interestingly, currently, the narrative is focused on the Web3 concept. I don't know if it's a matter of simple semantics, but some also use Web 3.0.

Until recently, I thought these were the same. But do are not.

Web 3.0 was first used around 2006 to denote the emerging cloud services at the height of the Web 2.0 boom under the dominance of the surviving corporations of the first stage of the Internet (Web 1.0).

On the other hand, the idea of a new Internet that recovers the decentralized essence arises from the debates in the Bitcoin community. In that sense, if memory serves me correctly, in 2014, Dr. Gavin Wood coined the term Web3 to point this out, and where the ownership of data and the benefits of these belong to the users and not to corporations.

I wonder, could all this explosion of techno-scientific creativity within the blockchain be sustained in Bitcoin?

Perhaps, this is the claim and argument of Bitcoin maximalists.

In addition, there was also a war in the community that gave rise to other versions of Bitcoin through the Hard Forks. Originating to this day skirmishes behind the scenes.

This is a long story with many backdrops and interests involved that is worth investigating for yourself before deciding on any of these versions.

In particular, I think Bitcoin Cash (BCH) is the one that retains the original intent. Therefore, it is the real Bitcoin despite the dominant narrative sponsored by interested parties allied with the powers that be in the prevailing monetary system.

I'll just give you a hint through a simple question.

Who is the owner of the money in your bank account?

If you answer, Obviously me. Then you are in trouble without knowing it.

Ask the truckers protesting in Canada!

Yes, the jargon of the crypto world is still complicated for most, as are the associated concepts, but it's worth delving into them so that no one scams you in the near future by offering you a centralized digital life, whether in corporations or governments.

I fervently believe that betting on the success of Web3 with the full range of emerging solutions based on decentralization as an instrument of freedom is in your best interest.

An original article by  @Jnavedan

The thumbnail by AlexanSergei Tokmakov Terms.Law on Pixabay 

I end by thanking all my colleagues in the community, who add value every day here. As well as all my sponsors for believing in the content I share with you.