Bitcoin: Beyond Speculation

In recent years, we have seen how Bitcoin has attracted the attention of individuals and institutions alike. Many have seen the asset as a speculative vehicle, in which many have earned millions of dollars while others have lost, perhaps even more. Others have to live with the regret of buying 2 pizzas for 10,000 Bitcoins in 2010, but they’ve all wondered: is Bitcoin just a vehicle to speculate or is there something more?

There is no short answer to this question, but have you heard the word “blockchain”? Most likely yes, and probably you are related to how this technology works, but do you know the power of decentralization? We have already seen or experienced what it is to have a centralized and corrupt government, we have very clear examples such as Argentina, Guatemala, Sudan and South Sudan, Venezuela, Zimbabwe, and many others, the problem is that, when the government has absolute power, many can be harmed, that is why Bitcoin is well known in most of these countries as a form of payment which is not controlled by any government or central bank and a way of expressing that they rely more on the algorithms by which they Bitcoin governs that by the laws and politicians of these countries.

However, we know that the world population is not limited only to these countries mentioned. What benefits does it have for you if you live in a country like the United States, China, Japan or any other country where the banking system works very well or the level of Is your trust in your government a little higher?

The benefits are many, for example:

  • Global, you can send money anywhere on planet earth.
  • It is faster, we all know that a check can take several days to clarify funds and the same happens with an international transaction, with Bitcoin a transaction anywhere in the globe can last a minimum of 10 seconds historical maximum of 3 hours, the average transaction takes about 10 minutes.
  • It has no schedule, you can make payments 24 hours a day, 365 days a year.
  • It is cheaper, when compared to a transaction with a credit card, PayPal or an intermediary such as Western Union.
  • It is transparent, every transaction is registered and visible to the public, can be viewed anywhere in the world, at any time.
  • The transactions are irreversible, which is very beneficial if you own a business, this way you make sure that the money you receive is yours and that it will not be taken from your bank account for any fraudulent transaction later.
  • It is impossible to falsify, as defined, you cannot build a fake bitcoin or make a double expense without the network detecting it.

In conclusion, based on its advantages and disadvantages because it has them, Bitcoin was the first crypto currency to open the doors to a world full of opportunities, today there are more than 2000 cryptocurrencies, each with a slightly different market and function than others, is on us to educate ourselves and take advantage of the benefits they can offer us.