Back here and grateful to all my friends in the community for the support received, that motivates me to continue sharing with you my experiences in this wonderful world of cryptocurrencies. Continuing with the series I call: "How do I use my cryptocurrencies? this time it is the turn of Satoshi Nakamoto's masterpiece, the almighty Bitcoin (BTC).
I once commented that I met the BTC in 2014 when I entered a small cafe in the center of Madrid, the capital of Spain, when I observed at the next table a young man who, when asked by the waiter about the payment method, answered clearly: with Bitcoin, then he takes his cell phone out of his pocket, scans a code and that's it, transaction done.
I was completely curious, Bitcoin, what is that, is it a new payment method through banks, is it money, just something inside me said that I had to find out what this is all about. Back in my beloved and underdeveloped Venezuela absolutely nobody knew about this cryptocurrency (at that time nobody had made any transaction with this type of digital currency), evidently Santos Google and YouToube became my only available tools to know everything about the main cryptocurrency.
I am not going to tell the story we all know about BTC and Satoshi Nakamoto, at this point in our lives I think we already know that part, but I do recommend to those who are starting in this world of cryptocurrencies and want to invest in the main decentralized digital currency is to read the Whitepaper written by Satoshi Nakamoto to understand what this technology is all about.
I spent days, months and years to fully understand this new digital economy led by the almighty BTC, at the same time I read in the news a lot of articles about people who became millionaires almost overnight by investing in this digital currency and of the hundreds of cases of investors who lost their savings in the frequent crashes that follow the mind-blowing price hikes of this cryptocurrency. Understanding that this and all cryptocurrencies constantly vary in price is essential to success in the use of digital currencies.
But as I came to understand what this was all about, I directed my BTC investment efforts towards accumulating them in my own wallet, under my custody and full control. I also understood that having a limited supply, its price will always tend to increase beyond the known fluctuations, because that scarcity as a new Bitcoin comes to light from the mining machines is the key to differentiate it from the fiat model, the latter the main cause of the economic disaster that the world is currently experiencing due to its inability to stop producing infinite and worthless money.
Since 2015, month by month I dedicate a fraction of my income to invest in BTC, regardless of its price although I recognize that this period of prices in less than $20K is extremely convenient for my budget. My investment in BTC is planned based on two objectives: 1) To enjoy a peaceful retirement when I turn 55 and 2) to give my son a significant amount of this cryptocurrency as a gift when it is his turn to blow out the candles on his 18th birthday cake.
It can be said that I have an important capital in BTC saved in a cold wallet, enough to live quietly the rest of my life even at today's price, however I am aware that I am still productive and far from me is the idea of giving him change this digital capital when I am still productive and I am starting my way as an entrepreneur and my son is a 12 year old boy, no way I will spend them, those Satoshi will remain saved for a good time.
Today the fiat system resembles that scene on the Titanic where desperate passengers try to find a boat to save themselves from sinking, all currencies from the euro to the pound sterling are experiencing difficulties in sustaining the economies of their countries, while the dollar in its infinite addiction to debt cannot help but cause the collapse of the model that we were led to believe is the right one.
I am always asked why I trust so much in something as unstable as the BTC? My simple but forceful answer is: Because I do not trust a system controlled by beings of the worst kind: politicians and their bosses, the elites. In bitcoin and blockchain technology human intervention is non-existent and impossible to harm or manipulate the system. No politician, banker or institution can decree the issuance of more BTC or sabotage its blockchain as its users can freely and securely dispose of both the system and their funds.
Interestingly BTC was created as an alternative to conventional money, the one we know, but now it is more akin to a valuable asset like gold or a stock market share but it is still among the most attractive things ever created. Regardless of how you or I dispose of this digital currency or the value we place on this cryptocurrency, the important thing about this currency and the technology behind it is the full and absolute freedom it gives us and that is where its importance to mankind lies.
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