Money, Bitcoin & Bitgesell
Irreconcilable Differences
Money, Bitcoin & Bitgesell
What we seek in money is something inimitable, immutable, abstract, eternal and that holds its value.
Essentially, something that promises to retain its value in the future. And what if, in addition to preserving value, it could increase in value over the years with a finite number of coins? That’s what Bitcoin offers on the internet. And what if we applied the same principles to another currency, but with annual halving and 90% of transaction fees being burned continuously? Then we would have something exceptional called Bitgesell.
In fact, we cannot touch cryptocurrencies like Bitcoin or Bitgesell. We cannot see them. But that doesn't mean they don't exist or that they aren't money. They are digital money. Even our own government-issued money is quickly moving toward becoming exclusively virtual. It’s nothing more than a number on a computer screen or smartphone and only exists as long as there is political stability.
The two main differences between traditional money and Bitcoin or Bitgesell are that the latter are not controlled by anyone with the power to manipulate them. Moreover, they are finite and cannot be mined infinitely, unlike traditional money.
Bitgesell is not stored by a government, bank, private or public company. Each Bitcoin or Bitgesell coin is secured through cryptography and simultaneously stored on a network of computers (nodes) spread across the world.
Like bitcoin, bitgesell has no physical form. However, this absence is not new and doesn’t make us doubt its existence. Today, letters and many bills are sent via email. Thousands of products are purchased in online stores. Newspapers are accessed through digital subscriptions. Identities can be verified with a digital ID and shared through WhatsApp, Facebook or LinkedIn. Even money is transferred through a card or online application. The dematerialization of money is a reality that is increasingly accepted and anyone who believes their money is truly stored in the bank is very mistaken. Government-issued money is just an idea sustained by a set of political decisions that gradually erode 2% - 3% or even more of its value each year.
Therefore, don’t fear the volatility of cryptocurrencies like Bitcoin or Bitgesell because, in the medium and long term, they tend to grow consistently. Bitgesell's inflation rate, for example, will be near zero by 2030! What more could we want from a currency that burns 90% of transaction fees instead of enriching banks?
In contrast, in the real world of fiat money, volatility can also lead to economic crises. Imagine if everyone withdrew their money from the bank at the same time. Beyond the chaos, the value of money could be lost within hours, depending on a country's economic scale.
To own bitgesell or bitcoin, we don’t need to qualify for anything. We don’t need to fill out paperwork, provide an address, occupation, tax number, ID card, or passport. We don’t need approval from any entity. No one needs to authorize us. Bitgesell and bitcoin bring a revolution to money: everyone can do whatever they want with their money, whenever, wherever and however they choose.
http://bitgesell.blogspot.com/2024/08/money-bitcoin-bitgesell.html
https://medium.com/@cubototal/irreconcilable-differences-money-bitcoin-bitgesell-0361194cf730
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