In this article I will try to reflect on the cryptocurrencies and the power of the distributed Ledger as a technology so powerful that it has the potential both to make us completely free and to enslave us like never before in history. The distributed ledger is the underlying technology in Bitcoin and other cryptocurrencies. Currently, there are two technologies, the blockchain and Hashgraph, and hopefully there will be more in the future.
The main peculiarity of these technologies is that they record things permanently. You can record all the movements and transactions you make with your cryptocurrencies, but they also have the potential to permanently register where you are going, what you do, what web pages you visit and even each of the emails you have sent. Distributed accounting technologies promoted by the government can be used to limit the freedom of the individual; For example, if the government has antipathy towards a certain individual, it can completely annul it as a person, "freeze it", and place it totally outside the financial system.
On the other hand, the open source accounting books that exist in cryptocurrencies such as bitcoin, dash, ethereum and all these new inventions that are currently emerging, are at a very sweet time for this ecosystem; It is the free market that will freely decide which of these technologies will rise as the winner. The one that offers the best service, the best price and the best product will be the one that finally wins the approval of the general public and a massive adoption by the population, which will undoubtedly be very positive.
But the truth is that the free market has stumbled slightly. Recently, there have been a lot of internal struggles in the space of cryptocurrencies that have slowed down their development, and the problem is that the government and the financial sector arrive very late to this "party of the blockchain and the distributed ledger" and right now They are awakening from their lethargy and trying to figure out how to get a slice of the pie.
If, for example, a crypto dollar (or Fedcoin) were to be created, this could be a device with which the government could determine what you can and can not buy, where you can go and where you can not go as well as what you can do and what you can not do, so that they end up having total control over your life.
But the truth is that individuals and the free market are much faster than large institutions such as banks and governments. An individual can change his mind in a moment, and instead, "dinosaurs" like banks, governments and other institutions are really slow to move and take action. Therefore, we, the free individuals, have been moving very fast in this direction, and we have to take advantage of it to overcome them before their systems are carried out, because once they take possession, it will be permanent and devastating for the freedom of all.
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Interesting article, Thanks @albertoyago!
I don't think that cryptos make it easy for governments to control everything. Pretty much all the things you said relate more to the current system than it does to crypto. It is with a centralized system where the party owning it has full control. Since no one owns bitcoin, there is no possible way for a government to seize or freeze your funds. It's not possible for them to block you, it is completely censorship resistant and decentralized. The only thing that is possible with Bitcoin, is that they track your spendings. But this is taking a lot of time if they'd want to do that for every one using it and if you have something confidential, just use Monero. If you ask me, cryptocurrencies are currently the best option, to overcome centralized control, censorship, and corruption. What you described as Fedcoin could also be achieved by keeping the system as is and remove cash as means of payment, so everything is processed electronically and logged within the central system and has to pass through it to be processed, thus giving the owner maximum control and insight into all transactions. Let me know what you think & thanks for your great post! Cheers
Nice article. I am very interested în cryptocurrency and i find this very interesting
thanks mate! glad you liked it! :)
excellent article the blockchaine has helped many citizens like Venezuelans to save their assets from an inflationary process provoked by corrupt politicians. The blockchaine is a means of liberation. Of course that depends on use.
@miguelalonso1 Definitely, mate! from my understanding, Steemit has become a tool to feed some families in Venezuela because 1 SBD is worth more than the minimum wage....thats nuts! In the other hand, im not that optimistic about PETRO, a government centralized crypto does not sound very reliable to me... Greetings from Spain mate!
Great article! My real concern is that most of people don't understand the enormous potencial of distributed ledger technology and they don't even try to learn about it. When I talked with my friends about it, they only repeat what they heard in the news: bubble, risky, etc. It's really frustrating
thanks mate! definitely, we are in the early days of the internet kind of situation... your friends are these guys 30 years ago...
XD...yes, just like that
Interesante alberto, espero seguir apreniendo sobre la criptomoneda, haciendo cosas así te he leido y bueno ahi voy encaminandome. Saludos desde steemfamily.
muchisimas gracias por el apoyo @majovc .... si te interesa el mundo de las cryptos te recomiendo que abras cuenta en mannabase... es una especie de renta basica universal que puede ayudar a mucha gente...cada 5 dias te van pagando solo por abrir la cuenta...no hay que invertir ni 1 centavo...yo lo descubrí hoy y parece que es bastante fiable...lo publiqué en el gurpo de whatsapp de steemfamilyhi... Si quieres, puedes usar mi referido para que nos den más recompensa a ambos: https://www.mannabase.com/?ref=9d0ea7cfcd
Great article bro. #topfive #steemfamilyhi. Bless
thanks for your support mate! glad you liked it! :)
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