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Books I  💚 ly Recomend

“So many books, so little time.”

Frank Zappa

“Good friends, good books, and a sleepy conscience: this is the ideal life.”

Mark Twain

“A book lying idle on a shelf is wasted ammunition.”

Henry Miller, “The Books in My Life“
My Preciousssssssssss 😊🤗💚

Books I  💚ly reccomend

"The Compound effect" - Darren Hardy

"Algorithms to live by" - Brian Christian & Tom Griffiths

"Ikigai" - Hector Garcia & Francesc Mirales

"Thinking, Fast and Slow" - Daniel Kahneman

"Emotional Intelligence" - Daniel Goleman

"The magic of thinking Big" - David Schwartz,PHD

"Sapiens" - Yuval Noah Harrari

"Noise" - Daniel Kahneman & Oliver Sibony & Cass R. Sunsteen

"The tipping point" - Malcom Gladwell

“Blink” – Malcom Gladwell

“David & Goliath” – Malcom Gladwell
 
"The New Human Rights Movement" - Peter Joseph 
(Zeitgeist - watch it 😉 )
 
"Zero to one" - Peter Thiel

"The intelligent Investor" - Benjamin Graham

"How to make friend and be successful" - Dale Carnegie

"Law of Success" - Napoleon Hill

“Think and Grow Rich” – Napoleon Hill

"Positive Thinking" - Napoleon Hill

"The Business Ideea Factory" - Andrii Sedniev

"Common Stocks & Uncommon Profits" - Philip A. Fisher

"The little book of common sense investing" - John C. Boogle

"Freakonomics" - Steven D. Levitt & Stephen J. Dubner

"Influnce" - Robert B. Cialdini,PHD
 
“The Psycology of Money” – Morgan Housel

“The Art of Strategy” – R. L. Wing
 
“Warren Buffet and the Interpretation of Financial Statements” – Mary Buffet & David Clark

“30+ Years of Lessons Learned from Warren Buffet & Charlie Munger” – Daniel Pecaut with Corey Wrenn
 
“CryptoTrading Pro” – Alan T. Norman

“Mastering Bitcoin” – Andreas M. Antonopoulos 

“Mastering Ethereumn” – Andreas M. Antonopoulos

“The Internet of Money” – Andreas M. Antonopoulos

“The Bitcoin Standard” – Saifedean Ammous

“21 Lessons” - Gigi

"Book of Satoshi" - Phil Champagne

"Inventing Bitcoin" - Yan Pritzker, Nicholas Evans

"Digital Gold:The Untold Story of Bitcoin" - Nathaniel Popper

"Grokking Bitcoin" - Kalle Rosenbaum, David A. Harding

"Alghorithms Illuminated" - Tim Roughgarden

"Consumer Psichology and Consumer Behaviour" - Max Mittelstaedt

"Deep Work" - Cal Newport

“Biology of Belief” – Bruce Lipton
 
“The HoneyMoon Effect” – Bruce Lipton

“Ego is the Enemy” – Ryan Holiday

“A history of almost Everything” – Bill Bryson

“Psychology of Money” – Morgan Housel

"Rich Dad, Poor Dad" - Robert T. Kiyosaky

"CashFlow Quadrand" - Robert T. Kiyosaky

"Guide To Investing" - Robert T. Kiyosaky

“Atlas of AI” – Kate Crawford

“Use both sides of your brain” – Tony Buzan

“Mind Maps for kids” – Tony Buzan

“Study Skills” – Tony Buzan

"Mind Map Mastery" - Tony Buzan

“Atomic Habits” – James Clear

“The First and last Freedom” – J Krishnamurti

"The Emperor of all maladies" - Siddhartha Mukherjee

"A brief History of everyone who ever lived" - Siddhartha Mukherjee

"The Gene" - Siddhartha Mukherjee

“Business Adventures” – John Brooks
 
“Code Breaker” – Walter Isaacson

“A thousand Brains” – Jeff Hawkins
 
“Social Engineering” – Christopher Hadnagy

“The Innovators Dilemma” – Clayton M. Christensen

“Critical Path” – R. Buckminster Fuller, Kiyoshi Kuromiya
 
“Price of Tomorrow” – Jeff Booth
 
“Pedagogy of the Oppressed” – Paulo Freire
 
“The Sovereign Individual” – James Dale Davinson,William Rees-Mogg
 
“The Broken CEO” – Chris Pearse
 
“Pragmatic thinking and Learning” – Andy Hunt

“The Creature from Jekill Island” – G. Edward Griffin

“The Wealth of Nations” – Adam Smith

“The Law” – Frederic Bastiat

"The Bastiat Collection:Volume 1" - Frederic Bastiat
 
“Tools of Titans” – Tim Ferris
 
“An Essay concerning Human Understanding” – John Locke

“A treatise on Human Nature” – David Hume,Thomas Hill Green

“The Richest Man in Babylon” – George O. Clason

“Think Again” – Adam Grant

“The Alchemist” – Paulo Coelho

“Black Swan” – Nassim Nicholas Taleb 

"The Rise of the Computer State" - David Burnham

"The Productivity Revolution" - Marc Reklau

"The Power of Habbit" - Charles Duhigg

"The Way Out" - Peter T. Coleman

"Digital Body Language" - Erica Dhawan

"The Promises of Giants" - John Amaechi

"Dedicated" - Pete Davis


"How to Change" - Kathy Milkman

"Substract" - Leidy Klotz

"The Psichogy of Selling" - Brian Tracy

"Awaken the Giant Within" - Tony Robbins

"Crushing It" - Gary Vaynerchuck

"The Power of Now" - Eckhart Tolle

"Sell or be Sold" - Grant Cardone

"The One Thing" - Gary Keller

"The Snowball" - Alice Schroeder

"Tap Dancing to Work:Warren Buffet on practically Anything" - Carol Loomis

"Extreme Ownership" - Jocko Willink, Leif Babin

"The Subtle Art of Not Giving a F*uck" - Mark Manson

"The Miracle Morning" - Hal Elrod, Robert Kiyosaki

"Tools of the Titans" - Tim Ferris

"Die Sheeple! Die!" - DJ Hives

"A few Lessons for Investors and Managers from Warren Buffet" - Peter Bevelin

"Warren's Buffet Ground Rules" - Jeremy Miller

"Limping on Water" - Phil Beuth, K. C. Schulberg

"Shoe Dog" - Bill Knight

"Where are the Customers Yacths" - Fred Schwed Jr.

"40 Chances" - Howard G. Buffet, Warren E. Buffet

"Clash of the Cultures:Investment vs. Speculation" - John C. Bogle, Arthur Lewitt

"Poor Charlie's Almanack" - Charles T. Munger

"Think Again" - Adam Grant

"Charlie Munger-The Complete Investor" - Tren Griffin

"Bull" - Maggie Mahar

"The Hard thing about Hard things" - Ben Horowitz


"Atomic Habbits" - James Clear

“Books are the quietest and most constant of friends; they are the most accessible and wisest of counselors, and the most patient of teachers.”

Charles W. Eliot

“There is no friend as loyal as a book.”

Ernest Hemingway

“Make it a rule never to give a child a book you would not read yourself.”

George Bernard Shaw

“If you have a garden and a library, you have everything you need.”

Cicero

“Books are like mirrors: if a fool looks in, you cannot expect a genius to look out.”

J.K. Rowling

“I cannot remember the books I’ve read any more than the meals I have eaten; even so, they have made me.”

Ralph Waldo Emerson

“A book must be the axe for the frozen sea within us.”

Franz Kafka

“The best books… are those that tell you what you know already.”

George Orwell, “1984“

“My Best Friend is a person who will give me a book I have not read.”

Abraham Lincoln

“One glance at a book and you hear the voice of another person, perhaps someone dead for 1,000 years.

To read is to voyage through time.”

Carl Sagan

The list will always be updated…

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BitHouse with 💚

Happy 13th BirthDay bitcoin

bitcoin – People’s Money

Brief history of Bitcoin

On January 3rd, 2009 Satoshi Nakamoto published the Genesis Block with the first 50 Bitcoins on Sourceforge. He also left a message on the blockchain at the time, quoting the headline in the British newspaper Times:

On January 3, 2009, the minister was on the verge of bailing out the banks.

Nakamoto started writing the white paper in 2008 and published it in October of that year.

The concept of a decentralized, anonymous, trusted currency emerged after the 2008 financial crisis, which left responsibility for the banks.

Satoshi neither supports the modern banking system nor does he like partial reserve banks.

A partial reserve bank is a bank that takes deposits and issues loans or investments, but only has to reserve a fraction of its liabilities for deposits. Basically, the bank is using money that it doesn’t own.

Satoshi wants to get rid of banks and seedy middlemen whom he believes are corrupt and unreliable. As such, he created a more community-centric digital currency.

13 years later, Bitcoin is still going strong with a market cap of nearly $ 900 billion. It is currently held by billionaires, banks, celebrities, governments, and corporations. This is evidence of how far BTC has come in its brief existence.

The precarious banking situation and economic uncertainty are also in crisis again.

The price of Bitcoin on its birthday 🎂

13 years: $ 47,310
12 years: $ 33,400
11 years: $ 7,319
10 years: $ 3,783
9 years: $ 14,764
8 years: $ 1,084
7 years: $ 432
6 years: $ 275
5 years: $ 816
4 years: $ 13
3 years: $ 5
2 years: $ 0.29
1 year: $ 0.05

Happpy Birthday bitcoin !!!

Thanks for all the teachings and wealth of Knowledge I do now have thanks to you !!!

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DEX Aggregators 2022

Top DEX Aggregators

Decentralized exchange (DEX) aggregators, also known as liquidity aggregators, compile the exchange rates of numerous DEX platforms and show you a list of platforms offering the best value for your crypto trades.

Moreover, you can access a deeper pool of liquidity by trading on multiple DEXs using a single trading dashboard. Think of them as the search engines of the DeFi landscape, scouring DEXs for the best deals so that you can swap your crypto assets with the lowest fees.

1Inch

Although it is a DEX in its own right, 1Inch’s main USP is its position as a top DEX aggregator across multiple blockchains. The network supports trades across major ecosystems like Ethereum and Binance and smaller networks like Polygon, Arbitrum, and Optimism.

As an aggregator, 1Inch gives you access to over 120 liquidity sources, with 68 on Ethereum, 39 on Binance, and 24 on Polygon. With daily trading volumes averaging close to $300 million from 300,000+ active users, it is one of the most active DEX aggregators in 2021.

The native token of the 1Inch DEX is also called 1INCH. It functions as both a utility token and a governance token for the protocol. 1INCH is a multi-chain token available on the Ethereum and Binance Smart Chain.

1Inch is one of the best DEX aggregators for crypto rookies, with detailed documentation and a well-developed Help Center filled with starter guides, FAQs, and more.


Slingshot

Slingshot grew out of DEX.AG, a DEX aggregator platform created in late 2018 as part of a hackathon event. At its launch, it supported seven major DEX, including Uniswap, Kyber, and DDEX.

After million-dollar funding rounds, DEX.AG was rebranded as Slingshot in November 2020. Slingshot works on Ethereum-based protocols – Polygon (formerly MATIC) and Arbitrum One. Across the two, you get access to over 326 exchanges/liquidity sources.

Slingshot is a very popular choice among experienced cryptocurrency traders due to its relative simplicity and advanced functionality. The average daily volumes touching over half a billion dollars is a testament to the platform’s popularity.

However, due to a threadbare interface and lack of easily accessible website FAQs, guides, and documentation, Slingshot is not a very beginner-friendly DEX platform.


Totle Swap

Totle is a DEX aggregator that also dips into synthetic asset providers, allowing traders to engage with tokenized assets of many shapes and sizes. Unfortunately, the platform seems to be dormant, with no updates since mid-2021 and a lack of stats on any major crypto platform.

ParaSwap

ParaSwap is a versatile DEX aggregator supporting Ethereum, Binance, Polygon, and Avalanche blockchains. In addition, it has a native token for liquidity and governance purposes called the PSP.

While it is one of the more feature-packed and beginner-friendly DEX aggregators, ParaSwap is still in the growth phase. In 2021, the platform reported 1.4 million total users over time, with daily transaction volumes peaking around $150 million.

ParaSwap allows you access to swap and payment options across 75 DEX platforms, focusing on better market rates and cheaper gas fees. In addition, decentralized applications (dApps) can also integrate with ParaSwap to better streamline token swaps.

Matcha

Like 1Inch and Slingshot, Matcha is both a DEX aggregator and a decentralized exchange in itself. Powered by 0x Labs, the platform focuses on transparency, lower fees, smart order routing, and easier access.

Thanks to a recent partnership with MoonPay, Matcha can now accept payments in fiat currencies, a first for DEX platforms. This could be very useful for newcomers – you can directly purchase cryptos using regular currency on Matcha and start trading immediately.

Matcha provides access to over 50 liquidity sources and DEX platforms across three blockchain systems – Ethereum, Binance, and Polygon. Despite being one of the younger platforms on this list (launched in 2020), Matcha boasts over 2.5k daily traders. Its daily volumes are close to $150 million.

Uniswap V3

Uniswap is a DEX platform based on the Automated Marker Maker (AMM) model. After its launch in November 2018, the DEX has seen a meteoric rise among crypto circles. As of Q4 2021, it routinely tops the charts of DEX platforms with the largest daily volumes with $5.5 billion.

The platform is currently in its third iteration – Uniswap V3. Based on the Ethereum Blockchain, Uniswap gives you access to over 50 liquidity pools, with 285 cryptocurrencies across more than 350 markets. The USDC-ETH pair alone accounts for over $1.8 billion worth of trades each day.

While not a DEX aggregator per se, Uniswap is still a great option to consider due to its sheer size and reach. Most of the other aggregators on this list have Uniswap as a major partner and source of trading options.

PancakeSwap

PancakeSwap launched in 2020 to work like Uniswap, but on the Binance Smart Chain instead of Ethereum. Like Uniswap, PancakeSwap is a DEX platform with an AMM operating model, with an additional focus on yield farming based on the native CAKE token.

Regardless of the sweet and syrupy “cake” theme, PancakeSwap is a major force on the DeFi scene, thanks to the sheer size of the Binance blockchain. It easily slots into the top three most active DEX platforms, with daily volumes exceeding $2.6 billion.

The platform is user-friendly, with detailed community guides, troubleshooting articles, and customer support. In addition, you can trade in over 30 major cryptos backed by an equal number of high-quality liquidity pools.

SushiSwap

Is based directly on Uniswap, with a fork in the original code created by its anonymous developer who goes by the pseudonym Chef Nomi.

Right from the outset, SushiSwap has courted controversy. To generate liquidity, its founder encouraged users to deposit in Uniswap tokens, leeching away almost $810 million from Uniswap in a “vampire attack.”

Chef Nomi then proceeded to withdraw his liquidity from the project, generating a massive controversy. Ultimately, he backtracked and returned all funds, relinquishing his control over the project to a new team.

Since these early missteps, SushiSwap has maintained healthy growth rates in the crowded arena of Ethereum-based DEX/AMM platforms. It currently ranks in the top ten list, with daily volumes of close to $800 million across 400+ markets.

dYdX

dYdX is a major DEX platform with a heavy focus on reducing the inflated gas prices on Ethereum. It is one of the few platforms to offer gasless deposits to new users who deposit above a certain threshold. The platform has plans to make this a permanent feature.

dYdX is also working closely with StarkWare to deploy a Layer 2 scalability engine designed to reduce gas costs and trading fees further. Using Ethereum Smart Contracts, dYdX enables traders to invest in the crypto-equivalent of futures trading and other derivatives.

Due to its unique position on the Ethereum ecosystem, dYdX has managed to gain ground on other more popular DEX platforms like Uniswap. As a result, at the end of 2021, dYdX is ranked second on the list of the most active DEX platforms, with daily volumes of $5.4 billion.

Raydium

Instead of Ethereum or Binance, the Raydium platform operates on the highly promising Solana blockchain. As a result, the Ethereum-competitor has a vibrant developer ecosystem, and its cryptocurrency has grown at least 16,000% since January 2021.

The increased interest in the Solana blockchain has also helped Raydium, an AMM platform based on the Serum DEX.

The platform gives access to over 430 trading pairs, with Solana-USDT being the most popular.

The native token, also called Raydium, is the foundation of all future apps and projects on the Solana and Serum ecosystems.

The project’s primary focus is to function as the engine of DeFi on Solana. However, with current daily volumes already reaching $300 million, Raydium shows a lot of promise for future growth.

TraderJoe

Launched in 2020 as a less expensive, more efficient alternative to Ethereum,  Avalanche blockchain focuses on decentralized apps.

Its AVAX token has hit all-time high demands in late 2021, thanks to positive media coverage and high-profile partnerships with entities like Deloitte.

This surge has also propelled TraderJoe, the major DEX platform based around Avalanche blockchain, to the top of the DEX pile in recent times. Its pole position in the blockchain ecosystem has helped drive TraderJoe’s daily trades close to $1 billion.

You can trade major cryptos, stake and gain the native JOE token as rewards, lend other cryptos and farm yields on the TraderJoe platform. With low fees and over 170 markets, TraderJoe is a top target for anyone interested in the Avalanche ecosystem.

Top Pick: Uniswap

The Top pick is Uniswap, for its deep liquidity pools, its user-friendliness, and its commitment to continuous innovation.

As the various DeFi ecosystems continue to grow and expand, the importance of DEX aggregators and AMM platforms will increase further.

These platforms serve a vital purpose, finding liquidity and facilitating transactional activity across multiple blockchains.

To say that the future of DeFi, and by extension, the future of finance as we know it, hinges on DEX aggregators would not be an overstatement.

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#1 Book of the Year I recomend reading…

“Ego is the Enemy”

“Re-read it each year. It’s that important.”

Derek Sivers, author of “Anything you want”

“This is a book I want every athlete, aspiring leader, entrepreneur, thinker and doer to read. Ryan Holiday is one of the most promising young writers of his generation.”

George Raveling, Hall of Fame Basketball Coach

“Ryan Holiday is one of his generation’s finest thinkers, and this book is his best yet.”

Steven Pressfield, author of “The War of Art” and “Gates of Fire“

“Ryan Holiday has written a brilliant and engaging book, well beyond his years… It is invaluable.”

Brian Koppelman, screenwriter and director, “Rounders”, “Ocean’s Thirteen” and “Billions”

Ego Is the Enemy

“While the history books are filled with tales of obsessive, visionary geniuses who remade the world in their image with sheer, almost irrational force, I’ve found that history is also made by individuals who fought their egos at every turn, who eschewed the spotlight, and who put their higher goals above their desire for recognition.” – from the Prologue

Many of us insist the main impediment to a full, successful life is the outside world. In fact, the most common enemy lies within: our ego. Early in our careers, it impedes learning and the cultivation of talent. With success, it can blind us to our faults and sow future problems. In failure, it magnifies each blow and makes recovery more difficult. At every stage, ego holds us back.

The Ego is the Enemy draws on a vast array of stories and examples, from literature to philosophy to history. We meet fascinating figures like Howard Hughes, Katharine Graham, Bill Belichick, and Eleanor Roosevelt, all of whom reached the highest levels of power and success by conquering their own egos. Their strategies and tactics can be ours as well.

But why should we bother fighting ego in an era that glorifies social media, reality TV, and other forms of shameless self-promotion?  Armed with the lessons in this book, as Holiday writes, “you will be less invested in the story you tell about your own specialness, and as a result, you will be liberated to accomplish the world-changing work you’ve set out to achieve.

RYAN HOLIDAY

Ryan Holiday is a strategist and writer. He dropped out of college at nineteen to appren­tice under Robert Greene, author of “The 48 Laws of Power”, and later served as the director of mar­keting for American Apparel.

His company, Brass Check, has advised clients like Google, TASER, and Complex, as well as many prominent bestselling authors.

Holiday has written four previous books, most recently The Obstacle Is the Way, which has been translated into seventeen languages and has a cult following among NFL coaches, world-class athletes, TV personalities, political leaders, and others around the world.

He lives on a small ranch outside Austin, Texas. 

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If so, please consider a donation to help the evolution and development of more helpful articles in the future, and show your support for alternative articles.

Your generosity is 💚ly appreciated.

You can donate in any crypto your 💚 desires 😊

Thank you all for your time ! 🤗 !

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Stellar(XLM) :

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“I Am Satoshi Nakamoto” – How One Programmer Changed the World

In this post, I will tell you why Satoshi Nakamoto is an inspirational developer to me and why he should be so for all other developers. I will explain how using code, Satoshi was able to solve some of the most pressing problems of our time and how by creating the first decentralized currency, he has made the world a better place, and we as developers should strive to do the same.

“I Am Satoshi Nakamoto” – How One Programmer Changed the World

The War for a Free Internet

The War for a Free Internet

David Vorick

Feb 14

” I came of age on the Internet. By the age of 13, I had more friends whose faces I would never see than I had peers in the classroom. Most of them won’t realize today who I am even if they are reading this now. Most of them didn’t realize I was decades their junior.

When my father was growing up, his freedom was his bicycle. It gave him access to friends, to a job, freedom from his parents, and ultimately space to carve out a personality that he could call his own. He wanted nothing more than to pass these gifts along to me, and it was often to his dismay and frustration that I never found the same joy in my bike that he had found in his.

I was too young to realize it at the time, but I had received the same gifts as my father.

Where my father’s freedom was his bicycle, my freedom was my keyboard.

A denizen of dozens of forums and hundreds of websites, countless hours each weekend contributed elements to my personality that raised me to be someone beyond anything I could have become in my hometown alone.

As middle school became high school, my online hours began to exceed my offline hours. By my sophomore year of college I was spending more than 80 hours per week on the Internet.

The Internet has become the keystone of modern society, a fact that has not been overlooked by our corporate giants.

As the 2010’s progressed, the Internet became a massive land grab. A hundred thousand independently operated forums became one front page of the Internet.

Personal cards, handwritten letters, and cozy phonecalls turned into a single wall that wished you “Happy Birthday” 1,000 times on what was often not even the right day.

What used to be an endless exploration of hand curated forums and webpages turned into a bottomless pit of AI generated filth carefully crafted by teams of PhDs with the sole intention of getting you to stare at your phone for just a little bit longer.

The modern Internet has been absolutely steamrolled by the likes of Google, Facebook, and Amazon.

As these platforms have festered, they’ve made it clear that we’re here to play by their rules.

They decide which of our friends we get updates from.

They decide how large a nose ring can be before a content creator gets demonetized and loses their livelihood.

An uncomfortable percentage of our time is spent under the tyranny of whatever logic was implemented in the pursuit of higher profits next quarter.

Somewhere underneath it all, real people are living every day, taking what breaths they can between the inescapable deluge of content spawning from a clinical addiction to their devices.

The next wave of teenagers are coming of age in this environment and they are suffocating. Suicide rates are up almost 50% since 2007 for people under the age of 24.

The modern Internet is making us miserable.

Our overlords have captured our souls by bringing us gifts of amazing technology and bundling with those gifts chains and cages that capture our minds and manipulate us to maximize their bottom line.

The time has come to stand up for ourselves, for our health, and for the next generation.

The time has come to start the War for a Free Internet. “

WRITTEN BY

David Vorick

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  • CBDC’s Tyranny Is Coming
    How & Why You should Prepare Here are just a few examples of what that sort of total control may look like: Government in total control The government could not only withhold money whenever they deemed fit but they could also devalue the currency. Lack of privacy The government will be aware of all of … Continue reading CBDC’s Tyranny Is Coming →
  • 100 Based things
    Here is a list of 100 of the best based things: Trust is not based, and relying on trust is unbased. It is foolish to ever trust someone, because the only way to truly ensure that what someone is saying is true is to verify it yourself. Relying on trust to make important decisions is … Continue reading 100 Based things →
  • CypherPunk Movement
    THE CYPHERPUNK MOVEMENT Let’s make a journey back in time to see where blockchain technology and cryptocurrencies came from. It will take us back to the CypherPunk Movement starting in the 1970’s. Cryptography for the People Encryption was primarily used for military purposes before the 1970s. People at that time were living in an analog … Continue reading CypherPunk Movement →
  • Block 170 – First ever bitcoin transaction
    The first ever bitcoin transaction from one person to another, on 2009-01-12 at 04:30 used Pay-to-Public-Key (P2PK), when Satoshi Nakamoto sent coins to Hal Finney in Block 170. P2PK is no longer used because it is a more expensive, less private, and less secure way of receiving bitcoin than other methods. • Transaction: f4184fc596403b9d638783cf57adfe4c75c605f6356fbc91338530e9831e9e16Timestamp: ‎2009-01-12 … Continue reading Block 170 – First ever bitcoin transaction →
  • The Art of War Quotes
    The Art of War (Chinese: 孫子兵法; lit. ‘Sun Tzu’s Military Method’, pinyin: Sūnzi bīngfǎ) is an ancient Chinese military treatise dating from the Late Spring and Autumn Period (roughly 5th century BC). The work, which is attributed to the ancient Chinese military strategist Sun Tzu (“Master Sun”), is composed of 13 chapters. Each one is … Continue reading The Art of War Quotes →
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No, Governments Can’t do a Better Job Developing Crypto

No, Governments Can’t do a Better Job Developing Crypto

Would a state-backed cryptocurrency be better than its decentralized counterpart?

International media has already rolled out their opinions on the matter. It’s a YES-IT-CAN.

The opinions find their inspirations in comments made by Christine Lagarde last week. The head of the International Monetary Fund (IMF) said that a government-backed cryptocurrency would eliminate the issues of trust that have clogged the decentralized cryptocurrencies like Bitcoin.

New York Times reacted to the IMF chief’s remarks, calling it “a hopeful sign for digital tokens,” while predicting it could “have a chilling effect on existing, nongovernmental tokens.”

The Guardian offered its editorial space to a long-time Bitcoin critic and economist Nouriel Roubini to further his plan. He outright called cryptocurrencies worthless when compared to central bank digital currencies (CBDC).“If a CBDC were to be issued, it would immediately displace cryptocurrencies, which are not scalable, cheap, secure, or [actually] decentralized,” Roubini claimed.

The comments mentioned above appear at a time when the cryptocurrency market cap has plunged by more than 70 percent since its all-time high. 

It has allowed critics to jump to the conclusion that decentralized digital currencies, mainly Bitcoin and Ethereum, have no intrinsic value, that they are highly speculative unlike central-bank issued fiat money.

Yet, critics have ignored the whys and whats that prompted the launch of decentralized assets at the first place.

They have been unable to respond to how Federal Reserve stimulus programmes, secret bailouts, and money production have destroyed the value of the US Dollar.

Their focus has turned more towards proving Bitcoin as a sugar-coated false promise of a financial revolution while ignoring the very bads of the existing financial system.

Economy believes that an asset has value when it checks scarcity and utility.

The US Dollar lacks scarcity, for its supply is governed by a centralized body called Federal Reserve. There is no check on how many dollars would get printed, allowing insiders to manipulate a greenback-backed market on their whims.

Bitcoin, on the other hand, has a set cap of 21 million tokens. Its supply is governed by mathematical algorithms, meaning no corrupt human involvement would be able to topple it.

As far as the use-cases are concerned, Bitcoin has been constantly looked at for its potential of becoming a store-of-value asset like Gold, while being constantly considered for settling cross-border payments despite its price volatility.

The critics then say that bitcoin has no intrinsic value.

But even gold and paper money suffers from the same stigma.

According to the World Council, only 15 percent of the global Gold supply is used in industrial applications. The rest goes into making bars, bullions, and jewelry – mainly because people trust they have value.

Trust is the Only Factor

The launch of Bitcoin was a response to a global financial crisis in which – let’s accept it – banks had f***ed up the economy.

The digital currency – more or less – follows the philosophy of the Austrian Monetary Theory.

According to it, money can be sound only when its supply is limited. It believes that money should not be controlled by the state.

These facts are missing from the reports and opinion pieces of anti-Bitcoin economists.

The Federal Reserve and central bankers believe that only they have the right to print money.

Bitcoin is only a beginning towards breaking the myth.

As long as the central banks do not innovate and protect people against currency inflation – as evident in the case of Zimbabwe and Venezuela – there is no chance they would be able to outrun crypto.

People need to trust their banks, but mainstream media and economists are avoiding a broader discussion.

The next financial crisis should bring more evidence to the theory. No rush.

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