The book of cryptocurency
chapter one.
In the beginning, the FIAT currency was the order of the day. No one could do without it neither can you get it in a different form. But all the days of FIAT, it was never stable. He has taken the people for granted by rising and falling anyhow and in one way or the other bias towards some people. Whenever he’s been used for a transaction, he commands a high price for him to complete the transaction or he will not do it and possibly he’s going to get lost, meaning he is not going to come back to the one who sent him. This has been a problem to many people and has always looked forth to someone who can save them from the menace of FIAT.
By 2008AD, FIAT met a doom which crashed it down. There was a global financial meltdown and as you know fiat was badly affected. This led people into great sufferings, the rich became poor and the poor found themselves in abject poverty. Once again people looked forth to someone who could save them from all these.
There was a man named SATOSHI NAKAMOTO who also was one of this people that the fiat has affected. When he was coming back home from work in his beetle car, he was thinking how to save this people and also himself from the menace of FIAT instead of all of them waiting for a savior who will never come. He came to this conclusion that no savior is coming from anywhere because the savior is already in their midst but no one just has the courage or the idea.
One day, when SATOSHI was reading a mail sent to him via e-mail from a friend abroad, an idea dropped in his heart. The idea was that if it’s possible for us to be able to get a mail digitally, then we should be able to have a currency digitally. With this idea, SATOSHI went and shared it with some people of like minded. At first, it seems impossible but as time goes on, the people he shared the idea with agreed to work together and that was the genesis of a great rival for FIAT.
SATOSHI and his colleagues went to work and before the end of 2008AD, they had created a digital currency which they call the BITCOIN. They didn’t release this currency into the market for a reason best known to them until in 2009AD. This currency they created came with advantages. Some of these advantages are; *the currency is purely digital. It cannot be withdrawn from a bank like fiat. This method makes you to be safe from robbers. *The value is the same all over the globe. And the value increases which yields more interest than fiat. * it cannot be monitored. That is, it is very well encrypted that no one can intrude your financial privacy.
With all these people began to use this new digital currency ( BITCOIN) for most of their transactions though FIAT was not abandoned because it can never be, it experienced a great shortage. But as time went on, people began to complain about some difficulties with the once upon a time savior BITCOIN. Even some returned back to do business with FIAT because they say BITCOIN fees its getting on the high side. These complaints of the people caused the organization of SATOSHI call for a meeting on how to solve these problems. Many issues were discussed and many solutions were raised from this meeting. At last, the organization agreement split into two. Some agreed with solution A, while some agreed with solution B. this led to the breaking into two the SATOSHI organization. People that agreed with solution A, continued with the BITCOIN while those that agreed with solution be created a new type of BITCOIN but this type of their own bitcoin was a simpler version of the initial bitcoin. They followed the footprints of the first bitcoin in producing their own version but edited the works done in other to make their own currency better. By 2017AD, this new digital currency was released and named BITCOIN too but with a suname CASH hence the name BITCOINCASH. This new digital currency they made was better than the original bitcoin almost in every way except for the monetary value. So far from 2017AD, this new bitcoin has showed to the people that he is far better than his creator the BITCOIN in doin transactions and a host of other things and people has so far put their faith in it when doing business because of its simplicity, low transaction fees and speed.
After the creation of BITCOIN in 2008AD, many people who were inspired through what SATOSHI did also went ahead to produce their own version of digital currency which is now called ALTCOINS and each of them with its own unique feature. But will any of these digital currencies be able to solve the world’s financial problem? Wont they one day disappoint the people just like FIAT did and people will be looking for another savior? Well, only time can tell.
PLEASE NOTE, THE ABOVE IS NOT A HISTORY OF CRYPTOCURENCY ITS JUST ME TRYING TO BE CREATIVE.
