Where does the world of the cryptocurrencies go?

When I was invited to observe and write about the Bitcoin world, a few years ago, I fell in love with the Blockchain philosophy and all that it entails. To think for a moment that a coin created anonymously could replace the current banking system, sounded poetry.

Believing that people excluded from the system could return to a new system based on smart contract and P2P communication. The Bitcoin, the first coin that can be adopted voluntarily in history; no governments, no wars, no corporate interests. An ideal.

But this last year the world of the cryptocurrencies have witnessed facts and ideas that have been taking away the bitcoin and Blockchain from what Satoshi Nakamoto expressed.

ICOS, that “boom” that in its first months, an idea is written in a white paper and one day multiplied its value by ten. People did not even read these projects in detail. In that Boom ICOS appeared of Broma like shitcoin, with details in its descriptions like “57 years of experience of work in blockchain”, although ironical; this can show quite graphically this stage of ICOS.

Today they continue, but a Web with a pharmaceutical aspect is no longer enough (why do they all look like a pharmaceutical?), Nor a simple whitepaper. Although ICOS continues to appear, too many for my taste, added to the measures taken by China, are the measures taken by investors: Today they read the small print, look in more detail the curriculum of those involved and the project and increasingly consult groups or people who over time have specialized.

Now we are facing a new front: “The devaluation of the Fiat currency“. That is, there is no longer any confidence in the traditional currency. In what entity can you trust? So many values find refuge in bitcoin. With this, bitcoin becomes “good money“, a value that you do not want to let go, what would be gold before.

Then we met in many meetups with more people asking “how to make money” attracted by some rumor of “someone who bought bitcoin and now it’s worth a lot”. They want easy money, skipping all the why there are bitcoin and the cryptocurrencies, the how they work or at least what they are. Aside from personally feeling a bit of frustration, I see with concern those people and I know that at least I must explain the basics. That profile is the perfect profile for scams and then they will not say “I cheated Juan Gomez” someone will say “Bitcoin is a scam”.

However, we continue to talk almost exclusively about bitcoin, when its mining is in the hands of a fortunate few who can invest in expensive equipment and meet the costs of electricity. Bitcoin has created ferocious decentralized capitalism; where all the currencies compete in the same market, independent of its function, mine or community circle: From Ripple to Pink, From Bitcoin to NavCoin. The users see in a window all the coins indiscriminately. What’s more, they’re just investors, they’re not interested in their speed or their anonymity, are they?

And while launching new applications that facilitate the exchange between these currencies like atomic swaps; little we see of investment so that big companies accept cryptocurrencies and much less investment to make disappear the technological barrier with its possible users.

When will a wallet be invested so that it is pre-installed on a smartphone? When will a cryptocurrency invest in course for novice users or broadcast? or please When will they invest so that any page is understandable? Is it possible that only if it is in neo language and English should it be serious and interesting?

But the Criptomonedas advance, the bitcoin, the Blockchain; all at a dizzying speed, leaving behind users, big companies Who cares? The window for investors works and the applications to be able to “trade” are becoming simpler.


That’s why I keep asking myself where the cryptocurrencies are. Is there anyone in the crypt that still believes in the opportunity of freedom outside the fiat currency, not only for some?

Daniela Caro

Daniela Caro

Writer by birth, curious by profession ... I learn a little more every day from the cryptocurrency.