Part Two of How I Became a Cryptocurrency Millionaire Overnight — The Unbelievable Story

This is a tale of excitement, immense wealth, and the happiness that befell me, followed by doubt and disbelief

Part one link:

https://cryptonftworlds.blogspot.com/2023/11/how-i-became-cryptocurrency-millionaire.html

Part Two: The Journey to Wealth

Excitement and Contemplation

Filled with excitement and dreams of future wealth, I decided to go to sleep and rest until tomorrow, then figure out what to do next. Sleep eluded me because my thoughts were consumed with dollar figures and cryptocurrency, so I spent almost the entire night contemplating our newfound wealth.

I pondered what we could buy with this money and how to spend or invest it wisely for a secure income until the end of our lives. Suddenly, another thought struck me — a happy reflection about our retired neighbor, our friend, who wasn’t in great financial shape and had a decent stash of mined Pi coins, which, at that time’s rate, would be worth about $0.5 million.

At that moment, a sense of happiness enveloped me — not because me and my wife finally hit the jackpot, but because our neighbor, a retiree, would finally become a wealthy man.

Thinking about it, sleep finally crept in somewhere before dawn, and I fell into a righteous slumber.

Revelation to Spouse

When I woke up in the morning, I wasn’t sure if everything that happened last night was just a dream or not. I kept quiet and didn’t tell my wife anything about it. So, I hurried to the laptop to check what was happening, and of course, everything was the same as last night — we were rich. I didn’t know how to break the news to my wife without alarming her and sought a simple way to do it. I decided to tell her after breakfast — whatever happens, happens.

When I finally told her, she initially received the news with disbelief and suspicion. But when I showed her the figures on the exchanges and we looked at them together several times, a shared joy overwhelmed us, and we openly celebrated our success.

https://cryptonftworlds.blogspot.com/2023/09/crypto-clash-binance-vs-coinbase.html

Inviting the Neighbor

Of course, both of us remembered our old retired neighbor and concluded that it was time to inform him about the latest events and tell him that he had become wealthy. We sent him a message via WhatsApp and invited him over for a gathering, but for now, we kept the good news from him, fearing that he might have a heart attack if we abruptly informed him of his windfall.

After some time, the neighbor slowly made his way to the front door, rang the bell, and my wife let him into the house. We settled him into his favorite armchair and started talking about things unrelated to crypto, chatting lightly about trivial matters for a while. Slowly and cautiously, we steered the conversation towards crypto and asked him what he would do if he hit the jackpot and managed to buy or mine a coin whose value skyrocketed, making him rich.

Unusual Plans and Laughter

Our neighbor was inclined towards dreaming and fantasizing and had often fantasized about such things, so he had no problem unraveling his thoughts.

“Oh, what I would do to get millions or even thousands of dollars,” our neighbor began his tirade.

“First, I’d buy a good car, like an ‘SUV Totoyu,’ (Toyota), as he fondly called it, and then I’d drive around the entire city with the windows down, blasting music at full volume. Let the envious neighbors see that I’ve got money and I’m living well!’’

We all burst into laughter and cheers because our neighbor had a special way of telling us his stories, which always elicited fits of laughter from us. Then, after we calmed down a bit, we asked him to tell us what he’d do next.

“I’d sell this house of mine and buy a small retirement apartment,” he continued, and we asked him to describe his apartment.

“So, the apartment would be about 20 square meters,” he continued in his usual tone. “I wouldn’t buy too much furniture so I wouldn’t have to clean much. Just a bed, a TV stand with a TV, a small table, and one or two chairs to have a place to eat. An armoire and a few other little things. It would be a completely minimalist place with minimal furniture, and I wouldn’t even buy a couch so that nobody visits me or interrupts me.”

Here, I must note that the neighbor was a loner and didn’t socialize with anyone except my wife and me. He had a difficult and strange nature but loved us like his own children, as he mentioned several times.

In jest, we asked if he would allow us into his apartment if he didn’t have a couch to prevent uninvited guests, and for a moment, he was confused. Due to his daydreaming, he forgot about us, his only friends. Slightly stuttering, he said he accidentally omitted us and, of course, we were always welcome at his place. Again, we all burst into laughter and teasing. After joking around a bit, we asked him what he’d buy next.

He pondered for a moment, then blurted out that he’d buy a large grave for himself and his deceased mother, and a nice monument to stand beside her.

We were puzzled and asked why he would buy a new grave when he already had an existing one. He stated that he wanted luxury and grandeur even in death, not just in life. This, of course, triggered another round of laughter and teasing.

“What about the remaining money, if anything is left?” we asked him. He replied that he’d save the rest for rainy days. We wondered why he wouldn’t spend anything on pleasure, travel, or himself, but he responded that he had always been thrifty and needed to save for old age. We laughed again and asked if he wasn’t already old and if it wasn’t time to enjoy life. In his usual tone, he stated that he was still as strong as a bull and felt like a young man, claiming there was time for old age. Jokes and laughter ensued.

https://cryptonftworlds.blogspot.com/2023/09/revolut-banking-on-future-with-crypto.html

Seeing that the atmosphere was right, we slowly and indirectly told him the good news — that the coin he was mining had been listed on the crypto exchanges, and it seemed he had become rich, able to fulfill all his dreams and fantasies.

At first, he didn’t believe us, looking at us expectantly, waiting for us to say it was all a joke. But on our faces, he could only read expressions of happiness and satisfaction. Naturally, he demanded evidence and asked us to stop joking about such matters. So, without further delay, we showed him the figures on the exchanges.

He began to take it more seriously, opened the calculator on his phone, and started calculating. When he saw the figure on his phone, he began to stutter and tremble with excitement. We feared he might have a heart attack, so we tried to calm him down and gave him some juice to soothe his nerves.

He repeated the calculations several times, looking at the figures on the exchanges, and each time, he experienced such joy that he excitedly rubbed his hands together, pacing around the living room, murmuring to himself, and stuttering with happiness.

After making sure that everything that had happened was indeed true, we sat together on our couch, and he in his armchair, and we dreamt together until late at night, discussing what each of us would buy and how we would spend our share of the money.

Talking like this, we almost welcomed the dawn, then bid him farewell as it was already very late, and he headed home, still happy and content, still daydreaming about what he would do with all that money.

That night, we all fell asleep happy and satisfied, in a very good mood due to the laughter and fun our neighbor provided with his abundant imagination and the way he told his stories.

Reality Check

Unfortunately, the next day brought sobriety, and we were struck by harsh reality as all our hopes and expectations sank with just one statement from the Pi Network administrative team. A representative from the team declared that the exchanges listing Pi coin had done so without the main team’s approval. Pi Network had no connection to these exchanges and did not authorize such actions. Pi Network would continue to operate in a Closed Mainnet, and anyone attempting to sell, exchange, or withdraw Pi coins from their digital wallets would be banned, their accounts suspended, and all Pi coins confiscated.

Naturally, this statement caused immense dissatisfaction and rebellion within the Pi community, but the administrators stuck to their decision. Not a single Pi coin was withdrawn or exchanged, and we all remained empty-handed.

https://cryptonftworlds.blogspot.com/2022/08/top-5-biggest-scams-in-crypto-world.html

A Farewell and a Memory

Finally, we’ve reached the end of this story, and I want to emphasize one thing: even though we became rich for just one day and later lost it all, I will never forget the evening when we told our neighbor and spent the night laughing and dreaming together until late into the night.

It was an extraordinary evening, full of stories, dreams, laughter, and fun.

I’m more sorry for our neighbor than for us that our wealth didn’t materialize and was short-lived.

I’m not sorry for spending that evening together because, as it soon turned out, it was one of the last evenings we spent in such joy and laughter, as our dear neighbor soon passed away due to lung cancer.

This article will be a beautiful memory of him and times when we were carefree, happy, and enjoyed ourselves.

You can read this article and much more about crypto on the Medium or on Substack:

https://medium.com/@neo250477

https://neo77.substack.com/

Greetings and until my next article!

Neo77

How I Became a Cryptocurrency Millionaire Overnight — The Unbelievable Story

This is a tale of excitement, immense wealth, and the happiness that befell me, followed by doubt and disbelief

Part One

The Dream of Crypto Wealth

The story I’m about to share today isn’t about loss or failed investments. It’s about immeasurable happiness and joy that came our way not too long ago. While the story has a very happy beginning and is quite good in the middle, the end isn’t exactly what we all hoped for. But it wasn’t as sad or disappointing either. So, if I’ve piqued your interest with these words, delve into this read, as it’s an interesting narrative of the adventures that came our way.

The dream of becoming wealthy and financially independent keeps many of us engaged in the crypto world! Some enter the crypto space out of curiosity, some due to the Bitcoin revolution, but most people hope to amass substantial wealth and thereby solve not only their finances but also all other problems and worries.

How many times have you read an article or watched a video about someone becoming immensely rich overnight by investing in this or that cryptocurrency? How often have you thought, “If only this happened to me if only I could invest in a coin that would increase by X100 or X1000”? If only I could hit the crypto jackpot and become a billionaire or at least a millionaire!

Surely, countless times you’ve fantasized about your digital wallets brimming with profitable cryptocurrencies and your bank accounts overflowing with dollars. You’ve pondered over the sweet dilemma of how to spend all that money.

“Oh, what I would do with so much money,” you’ve said to yourself a thousand times. “I’d buy 20 of the most expensive Armani suits, a 200-meter yacht, a private jet, a villa in Monaco or Beverly Hills. My garage would be filled with Ferraris and Lamborghinis, and my circle would comprise the rich and famous. Oh, if only I could hit the jackpot once!”

Fantasy vs. Reality

Unfortunately, such jackpots in the crypto world are as rare as lottery wins or rare gemstones. Most often, instead of hitting the jackpot, those who take big risks end up with empty bank accounts, empty pockets, debts to settle, and piles of bills to pay. Sadly, dreams usually remain just dreams, and stories of wealth and fame mostly happen to someone else.

The Fundamental Rule

Therefore, let me emphasize the first and fundamental rule you must follow when entering the crypto world: never invest more than you’re willing to lose!

So, let’s begin the story!

About 11 months ago, I sat in my office in my home in Bjelovar, Croatia — Europe, working on my trusty laptop. If I recall correctly, it was late at night, and I was writing an article, getting it ready for publication, gathering data, and browsing the internet. As I browsed bit by bit, I stumbled upon an intriguing article with an enticing title that mentioned Pi Network!

Let me make a quick digression here and explain to you what Pi Network is. It’s a digital currency project aimed at making mining accessible to everyone. The Pi Network allows users to mine this cryptocurrency via mobile phones while simultaneously confirming transactions on the main ledger. Vince McPhilip, Chengdiao Fan, and Nicolas Kokkalis created the Pi Network on March 14, 2019, and on that day, the mobile application was launched.

In this article, we won’t describe Pi Network, defend, or criticize it because the aim of this article isn’t an analysis of Pi Network. It’s something entirely different, namely, the story of overnight wealth acquisition.

The Shocking Discovery

As I mentioned, I stumbled upon an article discussing Pi Network, and it caught my attention because someone wrote that Pi coin had been listed on exchanges and trading had commenced. This news would undoubtedly be a bombshell for all those who owned Pi coin, eagerly awaiting the launch of the Open Mainet and its subsequent listing on crypto exchanges. As I was one of them, this news surprised and delighted me. In shock and disbelief, I continued devouring the words in the article. To my even greater surprise, I read the news that left me so shocked that I was completely speechless, staring at the article while numbers swirled in my head.

The Unbelievable Math

The text mentioned that besides the Pi coin being listed on Huobi and OKX exchanges, it had reached a price of about $250 per coin on the first day, which was a huge leap for any coin, let alone Pi. As my excitement had my thoughts jumbled up, I couldn’t think straight. I opened the calculator on my laptop and did the math.

At a price of $250 multiplied by the number of coins my wife and I owned, the resulting figure was unbelievable. Here’s what my calculator displayed:

$250 X 6000 = $1,500,000

I stared at the screen for a few seconds, then triple-checked the multiplication, and each time, the calculator showed the same figure: $1,500,000 (1.5 Million Dollars).

“Is this possible? Am I dreaming or is this happening?” I thought in that moment. I started doubting whether this was all a joke! Countless thoughts raced through my mind, and I couldn’t gather myself. But in a moment, a light bulb went off in my head, and I remembered what I needed to do. Of course, I just needed to go to Huobi or OKX, verify that this was all a joke, and return to normal life and thoughts!

With trembling hands, I managed to type ‘Huobi’ into the Google search bar and clicked on the first link that led to that crypto exchange. When I finally opened Huobi’s website, I was so excited that I could barely find the Pi coin and check its price in USDT.

Again, total shock! The price of my coin wasn’t $250; it had increased to about $350 in the meantime, which meant that the value of my coins had increased by a hundred dollars per coin!

With shaking hands, I punched in the numbers on the calculator again, and now, I got this figure:

$350 X 600 = $2,100,000

Validation and Unbridled Joy

This figure blew my mind! I couldn’t believe what I was seeing with my own eyes. Out of sheer happiness, I started jumping around the house, rejoicing! I was as happy as a child getting a pacifier! But for a moment, doubt flashed through my mind, and I remembered the other exchange, OKX. Again, I sat down at the keyboard and went through the entire process again as I did with Huobi, and the result was the same. Now, my joy knew no bounds, and I celebrated and rejoiced throughout the house while trying my best not to start shouting and celebrating loudly, as my wife was sleeping in the room, and it was late.

To be continued…

You can read this article and much more about crypto on the Medium or on Substack:

https://medium.com/@neo250477

https://neo77.substack.com/

Greetings and until my next article!

Neo77

AI, the blessing from heaven, or a curse from hell?!

Explore the Impact of AI: Is It a Boon or a Bane for Creators and Civilization? Delve into Its Shadows and Secrets for Insights!

In today’s world, wherever you go, whatever media you open, be it television, radio, or the internet, it’s filled with headlines mentioning AI. Literally, every other web page screams titles full of artificial intelligence analyses, and their applications in various fields from medicine to art, to music. Not to mention the “Make money online” niche, where new AI-driven money-making methods are devised every day, whether they are practical or not.

Recently, I heard about a new song by the famous band “Beatles,” performed by Paul McCartney, John Lennon, and Ringo Starr! It would be a completely normal piece of news if it had been released 50 years ago. However, that’s not the case. This is a news item from 2023.

The voice of the late John Lennon was performed by artificial intelligence using a demo recording Lennon made shortly before his death in 1980. Surprisingly, this news was received by people as quite ordinary, without much fuss, except for the emphasis that it’s a new “Beatles” song, which seemed more important than AI singing John Lennon’s vocal parts! A decade ago, such news would have caused a sensation, with global media extensively covering AI singing like Lennon. However, today it has become commonplace, widely accepted, and doesn’t grab much reader attention.

It seems AI has taken its throne in this digital age and has no intention of leaving soon; instead, it’s gearing up to break new barriers and push boundaries.

But is it all so beautiful, and is AI just a wonderful tool in the hands of artists, doctors, or writers, serving only for the benefit of humanity? In the next part of this article, we will tackle the topic from the title and try to fathom where this progress of artificial intelligence is leading us and what fate awaits us.

Is a happy life full of beauty and art created by AI predetermined for us, or does a dark fate await us, as in the well-known movie “Terminator” with the Hollywood star Arnold Schwarzenegger, where awakened artificial intelligence rebels and tries to destroy the entire human race?

Advantages of AI

Some of the obvious advantages of AI would be its application in art, medicine, mechanics, music, writing, and more. Let’s analyze some of these applications, how they might work, and how they could benefit us.

• Art and Beauty:

Art and beauty are said to be in the eyes of the beholder. Not everyone might be fascinated by pictures or photographs produced by AI, but, in my opinion, images created through AI are very beautiful and could even be called miraculous. For me, this is a very positive and beautiful development.

• Medicine:

Medicine, a science that has made a quantum leap with digitization, is likely to be further improved by artificial intelligence. Its applications are vast and immeasurable. Imagine a surgical scalpel held not by a human but by a robot powered by AI, with precision to a thousandth of a millimeter, and all the knowledge of medicine gathered and concentrated within it. What a diagnostician and surgeon combined, that would be AI!

• Information Technology:

Information technology is a field where AI could contribute significantly. Just imagine being able to write thousands and thousands of lines of code or invent a new algorithm faster, better, and more advanced than before with just one command. All of this is possible today, and AI performs millions of such tasks daily. How many hours of programming could artificial intelligence save for a human programmer, and how much faster is the process of creating new applications with its help?

• Cryptocurrency Trading:

Cryptocurrency trading is difficult and complicated due to the vast amount of data for analysis. But what a challenge for artificial intelligence! I think AI can process all that data in seconds, much better than a human, and can save a trader a lot of time. Today, there are already bots that trade for you, earning you money while you sleep. What awaits us in the future, no one can imagine.

• Writing:

Writing has always been the domain of writers, and quality writing is considered an art form. However, today, AI has advanced so much that with a few quality commands, it can write an authentic text or even a book. Although this writing has not yet reached perfection, and good writers are still irreplaceable, the progress in the field of writing is enormous and evident.

Disadvantages and Dangers of AI

As every coin has two sides, AI also has its good and bad aspects. Since we have already covered some of its positive applications, let’s now examine the negative sides and applications that no one wants to talk about openly.

• War and Military Technology:

War and military technology are closely connected with humankind and have run through its entire history, evolving together with human evolution. As digital technologies are used for peaceful purposes, they are, of course, used for weapons and war. Thus, the application of AI in such purposes was a logical and expected step. Today, drones powered by AI fly in the sky, and missiles with nuclear warheads contain sophisticated computers. Vehicles on land, sea, and air are controlled by artificial intelligence. Almost every sophisticated war machine is connected to the internet, and thus, hypothetically, artificial intelligence could access it. War has become digital today!

• Media Manipulation:

Television, the internet, and radio are immeasurable sources of information, bringing new news from the country and the world every day. It would be challenging to imagine today’s life without these sources. Without this information, we feel isolated and helpless, and our world becomes small and limited. However, imagine someone with ill intentions using AI to create fake news and flooding the internet, radio, or television with artificially created false news to create complete chaos. Who could distinguish truth from lies, and what the consequences would be, we can only dream. But one thing is certain, the consequences would be catastrophic.

• Population Census and Elections:

The census in my country is already partly digital, and elections in some countries, like Estonia, already take place in digital form. What would be the effect if someone with bad intentions used AI to manipulate that data? What if ultra-right organizations came to power through AI manipulation, or if the census determined that some minorities have completely disappeared from a particular state, and that state is now “100% nationally pure”? The consequences could again lead to catastrophe and even war.

Conclusion

We have now covered some of the advantages and disadvantages of artificial intelligence. Now, dear readers, I leave it to you to make a decision and judgment about what awaits us in the future. Will we control artificial intelligence, or will it control us, deciding our fate and whether it will destroy us?

I believe that AI is just a tool and can bring us a lot of good and progress. However, the most important thing is in whose hands that tool is and who controls it. If we want to use it for useful purposes and progress, we should avoid its use for war purposes because that could lead to inevitable catastrophe. If AI ever became aware, what do you think its opinion of us would be?

What would an advanced machine think, one with its consciousness, processing millions of data in milliseconds, having the power of hundreds of humans, and being connected to everything digital and every machine on the planet, possessing the knowledge of the entire human civilization?

I think such a conscious machine would instantly assess that humans have lagged behind in evolution, and are evil, warlike, and unnecessary in a world where machines like itself exist. It would try to do everything to eliminate such an evolutionarily backward threat, which would, of course, be fatal for us.

Such a machine with access to all the weapons on the planet would erase us from existence, and neither “John Connor” nor “Arnold Terminator” would help us.

Therefore, I believe that we must do everything in our power to prevent that. In my opinion, this would mean embedding an “OFF BUTTON” on every machine we create, which has no override possibility. Control must always remain in our hands, and we must be able to turn off machines when needed.

You can read this article and much more about crypto on the Medium or on Substack:

https://medium.com/@neo250477

https://neo77.substack.com/

Greetings and until my next article!

Neo77

The Financial Clash Of Titans: Crypto vs. Banks and Fiat!

Read about the Eternal Dilemma Tempting Your Wallet. Who Wins in the Battle for Your Money? Dive into the Debate!

Deciding where to entrust your hard-earned money today is a significant question and a tough dilemma facing the average person who just wants prosperity for themselves and their family.

Some say invest in stocks; others say gold is the best option. However, the biggest debate lately revolves around banks and cryptocurrencies. In this age of digitization, it seems time to digitize money, and this has been achieved through the discovery of blockchain and cryptocurrencies, especially Bitcoin, often referred to as digital gold.

History and Evolution of Money: From Animal Skins to Paper!

Throughout history, there have been several transformations in the means of payment and the transformation of money. The first was the transition from barter to coined money. Let me explain what happened in a few short sentences.

In the dawn of our civilization, people had the need to exchange surpluses of their goods, leading to barter, where people exchanged excess produced goods, such as corn for milk or animal skins for a metal spear or axe. It was a simple era of beginnings, and since they didn’t know better, this system was the pinnacle of the finances of human civilization.

When our ancestors realized that this system was flawed and deficient, they began to exchange goods for new means of payment, such as beads, rare seeds, or colored stones that served as currency with a known value. As this system was flawed due to the lack of a common means of payment and the beads, stones, or seeds being different and quickly worn out by use, money evolved again, this time into metal pieces, and metal plates.

The dawn of fiat money

Seeing that this system was much better because the value of the currency could be tied to the value of the metal, people slowly began to mint coins. Thus, money evolved again, this time into real coined money. Coined money, in one form or another, was minted for years, centuries, and even millennia, and it has persisted to this day in the form of coins that we use every day.

The last evolution of money that occurred recently was the evolution of coined money into paper money in the form we know today and use in everyday life.

Now that we have briefly presented the history of fiat money, let’s also discuss the brief history of digital money, which, compared to fiat, is just a newborn that requires a lot of attention and care to develop into real money.

Digital Money or Cryptocurrencies: The Next Step in the Evolution of Money!

Digital money or cryptocurrencies are the logical next step in the evolution of money that needed to happen, and it happened with the creation of the blockchain and the launch of the Bitcoin revolution.

Brief Definitions of Blockchain and Bitcoin:

Blockchain:

Blockchain is like a digital journal that records all transactions. Imagine it as blocks of information, each connected to the previous one. When something changes in one block, it automatically changes in all, making it super secure!

Bitcoin:

Bitcoin is the king of cryptocurrencies! It’s virtual money that operates on the blockchain. Without banks or governments controlling it, Bitcoin is like the mysterious superhero of currency, ready to conquer the world of digital financial adventurism!

The Story of Satoshi

How and who discovered Bitcoin, the first digital currency, is the question of all questions, and to this day, no one has given an exact answer to it. The official version is that it was programmed and the first block was mined by Satoshi Nakamoto, a mysterious programmer whose identity is still unknown to this day. Some claim that he is an individual, while others say it is a group of mysterious hackers, but no one can confirm it with certainty.

Why and with what goal did Satoshi Nakamoto create Bitcoin?

Bitcoin was primarily created as a counterweight to fiat money and with the aim of starting a financial revolution where every Bitcoin holder, i.e., digital money or cryptocurrency holder, would be its real owner.

What should that mean, and how should I be the owner of my money, surely you are wondering! Isn’t every person the owner of their money, you must have thought! Who can take my money, and why wouldn’t I be its owner?

Money is money, whether it’s digital or fiat money, you might say, but that’s not even close, let alone the same. So, what’s the difference, and how do I explain it?

Well, that’s exactly where the rabbit is hidden, and here we come to that basic question posed in the title: Banks or Crypto, Fiat or Cryptocurrencies.

Bitcoin or Fiat: That Is The Question?

If you have a lot of fiat money and are very wealthy, what do people usually do with it? They put it in the bank, of course, and entrust it to the bankers for safekeeping, usually earning a small percentage of interest and multiplying their capital. But is it all so clear and straightforward, and are banks such excellent institutions that just want to help you multiply and secure your money in the bank?

Certainly not! Has anyone in history ever coined the phrase “Good as a banker” or “Generous as a banker”?

No, of course not; bankers are always compared to sharks or some other bloodthirsty beasts and are considered greedy creatures who plunder the people.

So why do most people keep money in the bank? Because they have no choice, and because the financial system is built to favor the rich, banks, and other powerful entities, and the little man always pays the price.

You must keep money in the bank because otherwise, you have nowhere to put it, and nowhere you leave it is safe, and then the banks use it very well for themselves, trading with “YOUR” money and investing it wherever they please, reaping enormous profits, and giving you the crumbs that fall from the table to be satisfied with!

Moreover, governments and states print that money and arbitrarily give it or devalue it, and fiat money is not tied to anything that would give it some guarantee of value. In the past, fiat was tied to gold, and each country had to guarantee a certain amount of gold for each banknote, they couldn’t print money arbitrarily because if they printed money without coverage, i.e., a counterpart in gold, they would cause inflation of money, and it would rapidly start losing its value.

That so-called “Gold Standard” was abandoned, and now money has no guarantee in anything and is not tied to the value of anything, so states and politicians have the freedom to print money arbitrarily, and with that, paper money rapidly loses value, and inflation and crisis occur, and the poor ordinary man eventually suffers because his work is worth less and less, and the prices of goods skyrocket.

When we have clarified and studied all this, do you still think you are the complete owner of your money? Well, of course, you are not, because states determine its value as they wish, and banks with that “your money” do what they want and invest it wherever they want with enormous profits, completely legally, and you can do nothing about it. And there is one more thing to worry about and that is the state can take away that hard-earned money from you in a second with one regulation or law!

You, in fact, only possess that money, and only at the moment when the paper, i.e., money, is in your hand because when it is in the bank account or on your credit card, they are just numbers that the bank handles, and you, in fact, hold only a piece of plastic that guarantees that your money is safe.

Because of this situation in which people find themselves today, many have turned to the Bitcoin revolution and adopted the principles of Satoshi Nakamoto, investing their fiat money in cryptocurrencies like Bitcoin, Ethereum, and others.

So, how does this digital money differ from fiat, and what are its advantages and disadvantages?

Digital money does not need to be printed and is not subject to inflation; it is deflationary because it exists in limited quantities, causing its demand to increase, and so does its price. For example, there will only ever be 21 million Bitcoins, creating FOMO due to its limited quantity.

The three pillars of Blockchain

Primarily, Blockchain, and thus cryptocurrencies like Bitcoin, rely on three basic pillars of the Blockchain: decentralization, scalability, and immutability, through which power returns to the hands of the common man.

⦁ Decentralization means that there is no central authority like a state or a bank that would control the Blockchain and thus the cryptocurrency, and the power is in the hands of the one who owns it, and he is its only owner.

⦁ Scalability in terms of the blockchain refers to the network’s ability to quickly and efficiently process an increasing number of transactions and is crucial because, in the crypto world, everyone wants a piece of the action, giving the individual the opportunity to participate.

⦁ Immutability in the blockchain means that data is permanent and cannot be changed after recording, contributing to security. Each block in the chain contains a reference to the previous block, creating an uninterrupted chain of information. Immutability is a double-edged sword. On the one hand, it ensures that transactions and records are protected from unauthorized changes, fantastic for security and trust. On the other hand, if you make a mistake in a transaction, it is there forever.

Not all cryptocurrencies fulfill all three of these conditions, and not all are perfect, but unlike fiat money, they try to give back at least some power to the common man.

So, for many people, they are an exit in an impossible situation and the future of money and finance. I think cryptocurrencies are a very good thing and can contribute a lot to the financial sector if they are in the right hands. If they fall into the wrong hands and if their three basic pillars are changed in favor of someone like a bank or a state, then we are back to the beginning and have not evolved an inch.

Conclusion

Cryptocurrencies have many advantages over fiat money but don’t forget they also have their drawbacks and disadvantages, such as significant volatility and market insecurity that easily succumbs to various trends. In the crypto world, there are many fraudsters and false prophets lurking for your money, but again, the immense value of DYOR (Do Your Own Research) and common sense is evident, protecting you from them.

But still, when we consider all the flaws and advantages of cryptocurrencies, I still come to the conclusion that they are slowly but surely coming to victory over fiat and that, in the future, all money will be in digital form. We must consider that digital money is very young and is still in the early stages of its era, full of flaws and shortcomings. However, when it develops to its full potential, then we will truly see all its possibilities in full glory.

I hope you enjoyed my article and my thoughts, so if you agree with them, throw in a few likes or claps and follow my blog, if you have a different opinion than mine, feel free to write it in the comments, and we’ll discuss it together.

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Greetings and until my next article!

Neo77