Bitcoin is not a currency
Perhaps the first impression you may have had when reading the title of the post was one of confusion or strangeness. How can anyone in this day and age say that BTC is not money? What I really wanted with the title was to get your attention, and now that I have it I want to expose my ideas on why I affirm that BTC is not money.
Let's not stay in denial, but, let's do an exercise of going further. It is true that Bitcoin is a cryptocurrency, that is undeniable and undeniable, in fact, my intention has not been to deny BTC as money, but to propose a look beyond the simple understanding of BTC as simple money, which I feel is a vital exercise for many people who do not fully understand BTC.
To talk about BTC we must go back to its origin. In 2009 a white paper was published entitled:
"Bitcoin: A Peer-to-Peer Electronic Cash System."
Written by a certain Satoshi Nakamoto, if you have not read it I leave here the link to the document. The truth is that this innovative way of proposing transactions without the need of an intermediary turns out to be more than interesting. And although BTC is indeed money, at the same time it is an incredibly innovative technology and has two characteristics that came to revolutionize the way of thinking about the digital economy. Bitcoin is a Blockchain, decentralized and open source. Being both money, a new data collection technology and accounting sheet.
In other words, Bitcoin came to propose a new way of thinking about our finances, both in global and personal spheres. It is precisely in the personal sphere that I want to emphasize the most. In the traditional way of conceiving personal finances there is the figure of the Bank as an institution that fulfills several functions, one of them is to be the trusted third party, and on the other hand it is the place where we keep our money, but I ask you, do you really trust banking institutions? There have been incidents in many places in the world where banking institutions have taken advantage of the trust that people have placed in them and have swindled and cheated so many people that I don't know how there are people who still trust banks.
I live in Venezuela because many things tie me to this land, and leaving the country to date has not been an option, but I must confess that the banking institutions of this nation have taken so much advantage of the citizens, also, the inflation of the country has made this economy so chaotic that many people no longer want to have the national currency, but only what is necessary for daily expenses.
Now, returning to the point, Bitcoin tries to propose a system in which we do not need banks, or the figure of a trusted third party, and proposes the non-use of banks and through the Wallets gives the user the power to control their assets, to protect them. But, I feel that many people even in this day and age are not aware enough to be able to take control of their assets in a personal way without the need of a third party.
That is what is really innovative about BTC, which is not just a currency but a whole system that empowers us in a freer and more conscious way. I personally consider myself a crypto-enthusiast because I am understanding more and more all the potential that cryptocurrencies offer us and that there is still a lot to do. I feel that at some point in our future all this will help us build a better world, or so I like to think.
