The Mystery of Bitcoin

Why in this high-tech, Ai new world, is everyone is so blinkered and fearful of the evolution of our monetary system? It had to happen. There had to be a way for the people to take back control of their own finances, without being tied to the decisions and mistakes of the rich, who have no idea what happens as a butterfly effect by the time it filters down to the majority. And what compensation do we have? None, it's just 'tough luck' if the calculations don't quite add up... We (the non-millionaires) almost have to beg the banks to help us, and in return, we might get a few pounds or dollars interest every now and then. Gee, thanks guys!!

Ok, enough of the rant. Here's my logic: Before there was money, there was the Barter System (one I think we should all go back to but don't get me started, that's a whole other story!). So, to relate it to the modern-day, I used to be a Hairdresser. Using the Barter System (I would shorten it to BS but I don't want to confuse the benefit of it :P) I could cut the hair of everyone I wanted a product or service from, so I want some shopping, I go to the grocers and pick up my shopping while providing them a hair cut. Nice and simple, no money needed, everyone is valued equally and happy.

Ok, it's a great idea, but then some ambitious entrepreneurs back in the day, wanted more, so they had to find a way of giving something more valuable, and along came Gold.

This incredible hypnotic element, while still used today in a sense, was carried around in bags. And then chests, needing carriages and horses to transport... and the whole thing got a bit heavy! So pieces of paper with the equivalent of "I owe you 5 Gold coins" for example (I wasn't there, I've just heard stories ;p) were exchanged for goods. But with thieves and conmen how could they prove they held the owed coins, and where could they keep them safe? Well, in came the banks of course.

And, rightly so, the banks had to charge for the safe-keeping of all this gold, pay their staff, build bigger and bigger banks for the growing piles, etc. and no doubt, they made more and more profit as time went on, until it was just accepted that the people holding the money should decide how much they earn, as there wasn't anyone above them (or the King/Queen was paid enough not to ask?).

Anyway, we went from the IOU (or cheque) to the Royals of the time, buying up all the Gold and giving the people, a Royal IOU with their face on, as a guarantee... and boom, money was born.

Nothing really changed until plastic, enter the beginning of the digital money age. By now, if your mind has absorbed the flow, you should be able to see that once we became digital, banking became a playground for hackers and scammers, and it doesn't matter how hard the banks try (bless them) they'll just never be able to keep up... So something HAS to change!!

Ok, so it did! A genius (or bunch of them, we may never know) discovered an anomaly while gaming. To help you visualise, let's use the example of the last Ikea style flat-pack you put together, always an extra screw left over right? No? Just me then lol... Ok, I'm going to have to go all quantum on you!

When you build a fire in the woods or jungle, if you were a cub scout/girl guide, or at least watched hunger games, you rub two pieces of wood together really fast, and it produces energy, which produces heat, and eventually fire, right? So nothing was added, we didn't use a lighter or matches, just 2 pieces of wood. But now there are 3 things: wood + wood + fire. So we didn't add anything, it was just created, out of thin air, yes?

So during the process of the gamer + the software + the energy introduced by the gamer (like the energy applied to the moving piece of wood) produces a new piece of energy leftover from the friction = Bitcoin.

Once this particular gamer discovered it, and a value was given to it, originally just the value of Kudos from fellow gamers but the 1st purchase, believed to be a Pizza, for 10,000BTC (now around £355,000,000 LOL!!) if memory serves, changed the world forever!

So how is it better than banks? Well, when you pay with your card, the card machine reads the information on your card, sends a signal to your bank, which either says "yep, she can afford it" or "computer says no...". Great, nice and simple... but also way too easy to hack. I'd like to hear from one person that hasn't at least heard of someone having card/bank issues at some stage? And we are relying on one computer asking another computer at your bank.

With Bitcoin, when you attempt the same transaction, the confirmation request to ensure you have the funds in your account to cover the purchase, is sent to hundreds or independent computers, and the transaction will complete only if all the computers agree on the account balance. This leaves zero room for errors or hackers!!

Before you scream, yes, of course, people have been scammed with crypto, including me, but NOT from computer/banking error, ONLY from human error (*facepalm), which of course regularly still happens in the normal banking system. But once you understand the new banking system, you will feel more secure than ever about your future wealth. And if you want a comparison, I had £37 in my bitcoin wallet before Christmas, which in a bank would have earned me approximately £0.0001 interest by now. But guess how much it is today (only a couple of months later)... £193... Mystery solved!! :D

P.S. I accept Bitcoin (and multiple other crypto currencies!) :D