Can Bitcoin store and transfer wealth?

in #bitcoin3 years ago


The Internet has been a revolutionary change in the technological advancement of our civilization. If not for the Internet, our current development would not be as we know it.

However, despite its importance, until a few years ago, the Internet had a problem: it was not capable of transferring value through it. Any type of information that was generated or loaded to the network, could be copied infinity of times without any limit.

But this changed with the arrival of Bitcoin and the blockchain. This open source protocol, for the first time in the history of the digital era, allows sending and receiving "value" through the Internet, since the information contained in the chain of blocks can not be modified or altered, it is immutable.

In itself, this protocol is a set of technologies such as digital signatures, the chain of blocks as such and the consensus protocol (Work Test). This is what allows the digits, bits or information handled within the blockchain to be unique and can represent something of value.

In the following lines, I hope to be able to share my thoughts clearly, but before continuing, I want to remember that money is a means of exchange, it is not wealth, it only represents, stores and transfers it; which means that money could be anything that we think symbolizes our wealth. However, the value of this means of change will depend on the number of people who trust and accept that it constitutes something of value.

How the author says Robert Kiyosaki; "Wealth is not measured with money but with time". As human beings our greatest wealth is our time, our energy and our freedom. Which means that when we use money we are transferring part of our wealth to someone to be able to change it for something we want, that surely took the wealth of that someone to create it.

Imagine money as a capsule, which is capable of storing the time and energy you occupied in performing some activity or producing something; and at some point you can use it. For example, suppose you will make a chair to sell; You will occupy wood, tools and a time of 2 days to do it.

You have decided that you will charge 0.01 BTC for said chair. That money has stored your time, your energy and your freedom that you had to give in return to be able to produce the chair. Then with those 0.01 BTC you go and buy some shoes; which means that these shoes are equivalent to 2 days of your wealth, which you store and transfer at the time of making your purchase.

Maybe you could still think there would be no difference in charging dollars instead of BTC, but the difference is simple, the limited availability of Bitcoin and the unlimited creation of dollars.

For the time will come when there will be no more Bitcoin than the circulars and the only honest way to obtain them will be creating or exchanging something of value, in no other way it will be possible; while any fiat money would have no limits to be created as it is today. This gives Bitcoin an intrinsic value, the fact that it could only have come to your hands for having created, produced or given something of value in return.

Do not forget that gold and silver are not valuable because they are gold and silver, they are valuable because we have attributed that value to them. In other words; as a civilization we have come to the general agreement that they are valuable; because we believe that they are worthy representatives of our true wealth, since they are scarce, durable and can not be created in an unlimited way.

And if we attribute to Bitcoin the value of representing the empowerment that gives people to store and transfer their wealth, with no one in between, with no one else to control it, without anyone being able to create it at will; What could be more valuable?


That is why, I think that at this point we will know that the real money that symbolizes the work, creativity, knowledge, energy, time and effort of people will have won over the money printed by a few. It would then be a true economy of value and money would represent the true wealth that is produced.

And while there is only one person in the world who is willing to accept Bitcoin as a means of change, Bitcoin will have value; so be 2 pizzas per 10,000 BTC, that will be your value.

And never forget:

"The essence of Bitcoin, is to give sovereignty and freedom to individuals over their money to control their wealth."