Bitcoin frees your money from the bank prison

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For quite some time, banks have been responsible for creating and controlling people's cash. In the current structure related to money, national banks and, by expansion, governments, are responsible for issuing the new banknotes, when they choose. This plan, which allows the production of new cash every time the administration needs it, allows them to build their stores, but with the result that the estimation of the funds in that reduction of money to the nationals.

That cash, issued by national banks, only achieves the normal customer through private banks, which are responsible for storing cash, issuing charges and visas, granting loans and financing ventures, between different years. This type of elements, to obtain monetary advantages of the stores made by customers, lend their cash to other people, with terms of terms and costs of loans that will be used to support the structure. This implies that when your cash is in your register, you generally do not have a place with you. Subsequently, the banks force the confinement points and the limitations, so that essentially they can not control everything that should be theirs alone.

This plan has been in charge of different emergencies related to money, for example, the emergency of mortgage loans of 2007 and the consequent global budgetary emergency, which began in 2008 and has created problems in the economies that drive the planet. These scenes, which accelerate the expansion in the affected nations, decrease the residents' cash estimate, which affects their reserve funds and obtaining power.

To manage these problems, Satoshi Nakamoto made an innovation that does not depend on banks and gives customers full control over their cash. One of the instruments to stay away from the intentional swelling of the cash of the custodians, which is controlled by the national banks, for this situation is the obsession of an aggregate offer, which can not be controlled. In this way, there may be 21 million BTC, which will end up being extracted around the year 2140.

The issuance of this cash, in addition, does not depend on a focal establishment, but allows anyone with the important means (mining equipment) to make their cash as a reward for their work, dealing with scientific issues and making the square in the who sign up exchanges and approves the system When extracting the last bitcoin, the excavators will continue to process the exchanges and acquire the measure of the commissions that are paid.

Unlike governments and nationals, money is kept with fiduciary cash, there is no element that can issue more bitcoins to modify. Every BTC that an excavator wins is an immediate reward for the work he has done and has a place with a pre-built program. This new plan, by taking endlessly the ability to control the estimation of the benefit for any element gathered, gives individuals more control over their cash and provides budget self-sufficiency that can not be achieved with monetary forms made by governments.

Some people argue that bitcoin can not be a reliable strategy in terms of time or significant savings due to the instability of its value, considerably higher than the monetary forms of the guardian. However, this is because innovation is still developing. As Saifedean Ammous predicts in The Bitcoin Standard: "As the market size develops, along with the progress and depth of the money-related establishments required with Bitcoin, this instability is likely to decrease."

For the client who will not allocate resources to mining, Bitcoin still goes to a protected elective that allows him to control his cash, and these two performers get a common advantage. The people who use Bitcoin to influence the quotas to use the excavators that process the exchanges and keep the system safe, while the miners benefit from receiving Bitcoin as payment methods, since the more it is used, the more noticeable it will be its benefit This dynamic, which levels each one of the performers of the biological community, contrasts with the verticality that occurs with the assembled organizations, in which the clients must depend indiscriminately on their cash for the banks. Also, it is essential to highlight that, regardless of who or where you are, in fact anyone can participate in Bitcoin, either as a mineraiser, as a customer or as a developer.

Another preferred view of Bitcoin in terms of maintaining the monetary framework, which is specifically identified with the control of cash, is protection against any type of external imperative. Anyone can claim and exchange the BTC measure they need anywhere in the world, in a very short time, without confinements or danger of solidifying their assets. Although in some locations there may be legal obstructions, particularly when exchanging BTCs for guardian money, this problem occurs exactly when banks are used and not when exchanging two Bitcoin addresses.

As we said now, private banks, which store and control people's cash, usually set withdrawals or exchange limits and, due to any task they consider strange, they can solidify the client's advantages. Due to the profit exchanges, most banks take days and request many commissions and registrations, while with Bitcoin an exchange can cross the outskirts in minutes and considerably less expensive.

Bitcoin speaks of a risk to the administration of an account organization exactly in light of the fact that it offers individuals a method of saving and payment that does not depend on them. Bitcoin takes away from the bank the control over the population and, legitimately, feeling that they end up being unimportant for a part that already depended only on them, the safeguards and counterattacks of the establishment.

The ongoing articulations of Agustín Carstens, general manager of the Bank for International Settlements (called the national bank of national banks), are discovering in this point of view. The main issue of your mediation is that cryptographic forms of money are not cash in light of the way they are made. That is to say, what a national bank does as cash is to think in cash, with the argument that the bank is the one that has the control of the accounts. Anyway, this is not the situation: not on the basis that bitcoin is done in an unexpected way, it is no longer effective, since it is also managed by the market guidelines. The customers estimate it.

Another "contention" that banks regularly use against the cryptographic forms of money is that their pseudo-anonymity can be abused to encourage illicit exercises. In any case, delegates from the usual budgetary framework seem to overlook the fact that the issue of war and drug trafficking has been around for decades and illegal tax evasion was not done 10 years ago with Bitcoin. The fiduciary cash is the main instrument of legitimization of the capital and this cash is transferred, correctly, by the banks. Despite what might be expected, the openness of Bitcoin, in whose chain of blocks any individual anywhere on the planet with access to the Internet can follow the cause of monetary standards, does not encourage, but ruin its use for illegal organizations . In fact, a couple of months ago, towards the beginning of April, a global police task discovered how to disassemble an illegal tax evasion organization that used digital forms of money exactly because of this brand; something that banks do not trust, whose frankness can be addressed.

Different characters, who try to be dishonestly receptive with Bitcoin, report that the chain of blocks is great, but the cryptographic forms of money less and that they will incorporate this innovation in their stages or associations; however, the chain of squares, without the strength of financial motivation, is just an open and advanced accounting book. Upon receiving blockchain, the bank is exploiting a name that has been prevalent without extremely changing its capacity in terms of its clients. A cryptographic money, as invented from the first point of departure, should be a decentralized stage in which irrelevant customers anywhere, review the exchanges in the blockchain and obtain a financial advantage for doing this job .

Regardless of the progress and development of Bitcoin (Carstens states that the BIS did not take a position contrary to the digital currencies previously, arguing that they did not speak of a risk, which infers that they can now talk to him), the reality remains than the use of banks. Be that as it may, it is vital not on the basis that they are a solid foundation that adds to the development or functioning of society, but are important in light of the fact that Bitcoin has not been properly adopted. We can not go to the market and pay with bitcoins or cancel the fee of the open administrations, usually with this cash, and that is what really drives us to use the cash of the custodians.

Decisively, as a result of the need they have had, much intensity has fallen on the banks, a power that is not generally used to a large extent and can cause problems on a global scale. In this way, Bitcoin is presented as a considerably more liberating budgetary instrument.

Despite the fact that there are administrations and delegates that allow the use of digital forms of money as a payment method in installments, it is vital that fans of this cash disseminate the advantages of this innovation. It is important to carry out activities that educate the population so that they can have total control over their cash and that it is not important to depend on any stranger. Lovers know the benefits of Bitcoin on banks, however, we must make them known. In the event that we need to be truly owners of our cash, we have to make it fully fungible.