El Bitcoin, The Virtual Curren

El Bitcoin, the Virtual Curren

Throughout history, Dieferent Economic and Social Systems have been developing and establishing themselves in human societies. Of all of them the most outstanding may have been: the first agricultural system, feudalism and finally and in which we find ourselves today, capitalism. Although both merchants and trade exist since the beginning of civilization, capitalism as an economic system, in Europe, did not appear until the thirteenth century. This, arose to propose work in exchange for capital (salaries), instead of servitude or slavery as usual in the feudal era. One of its most representative characteristics is that it separates specific sociaeconomic classes grouped into: capitalists and workers.

In recent years, an unprecedented evolutionary development is being lived in our societies, almost exclusively due to the advancement of technologies. These advances are lived and perceived in each and every one of the levels and pillars on which our civilization is based. Obviously, in the field of economy, this change is also noted, even if possible with greater impetus. In the last 30 years, financial capital (system that pursues the benefit through speculation, moving capital or money according to interest rates, exchange rates, price variations, acquisition and sale of numerous financial products and financial derivatives), has become the dominant capital in the main capitalist economies, surpassing the industrial elite in power and influence.

This evolution has led to the productive sector being increasingly subject to the volatile dynamics of the financial sector. In addition, they are beginning to emerge in some niches of the information economy, a different capitalism: more participatory, equal and human: what some have begun to call it capitalism 2.0. We are in a world without borders, in which information flows through technology and escapes us in seconds, anywhere, by far that it is. But not only that, we are also in the Internet era, a dense network that allows us to be in contact with any part of the world in an instant. This is due to what some authors call "globalization".

Both the progress of social networks that facilitate the mobility of mass information in second.0 that facilitates labor relations and is mainly established in sectors that prevail the work of ingenuity and creativity, are an optimal culture broth for the creation of products such as Bitcoin. But what exactly is Bitcoin?

Bitcoin, summarized, is a cryptocurrency or virtual currency. A self-regulated payment unit without physical reference or support from a country, which preserves the anonymity of its owners and whose transactions are carried out through the Internet by means’Blockchain’, in practice an accounting book or shared registration of the activity). The knowledge of a code owns you that asset (cryptocurrency). It is a completely digital currency. The new currencies are generated by “mining”, processors that work 24 hours a day, seven days a week, to solve computer problems, cryptographic puzzles of a deliberate and enormous complexity, so that the network is safe, in exchange for a remunerationIn Bitcoins.

On October 31, 2008 at 18:10:00 GMT, Satoshi Nakamoto, fictional name, publishes an article on the Internet where Bitcoin’s idea conceptually raises. Therefore we would place its emergence in the context of the financial crisis of 2008, created through a computer program and that it is programmed that in obtaining a unit to solve a series of numerical problems, taking into account that it was designed as avery scarce, so there are only a total of 21 million bitcoin.

Bitcoin defenders present it as a totally revolutionary currency never seen before that would facilitate its use to any user. But, by enumerating the series of advantages offered. Bitcoin defenders give utmost importance to the currency does not belong to anyone and be decentralized. That is, it is not controlled by any government, a bank, neither financial institution nor company and that, a priori, any individual can create cryptocurrencies from a powerful computer from the comfort of their home.

This issue makes us think that Bitcoin’s function is not focused on its use as a currency, or at least it is not its only function or the main one, but tries to become investment assets. The financial market does not stop growing and is already taking the industrial lead in recent years, in the case of cryptocurrency could not be different. In fact, it could be said that Bitcoin is more a good in itself than a useful currency for the purchase of goods. It is mainly due to the fluctuation of its value and its conception as a financial asset for a large part of its users.

Due to the sudden price changes that he has suffered in his few years of life, he does not inspire confidence when acquiring it as a currency while, on the other hand, the investment funds that are interested in cryptocurrency are increasingly common. Therefore, the interest in promoting use an out of all state control seems to respond to investors’ eagerness to create a free market around it to, thus, be able to expand its capital by buying and selling Bitcoin in thefinancial market.But at the same time it is convenient that this well that is put on sale has some confidence of the citizens, since losing this confinement, the currency/producer would lose value and would be meaningless to invest in it. And what is the problem regarding Bitcoin’s confidence? Why can possible users doubt it? Cybercrequence.

One of the stigmas that more sides the confidence on the part of citizenship in the Bitcoin and the most desire to have those interested in it is that the currency ceases to be linked to the cyber of the convenience that is transcended in the purchaseof;Drugs, weapons, exotic animals or all kinds of “product” that is capable of finding one in illegal web markets. Maybe one of the most famous is Silk Road. This is a black online market from an internet site operated as one of the hidden services of the Tor Network known in computer terms as a deep Internet. Given the anonymity that prevails both in the acquisitions and in Bitcoin transactions, it is very easy to be used by cybercriminals for the purchase of illegal materials, but, not only that, all this can also help the money laundering of illegal origin of illegal origin ofBitcoin public defenders, in fact it already happened.

Charles Shrem is a young businessman and pioneer of Bitcoin. Its companies were characterized by being part of those that at the beginning of the article we have called as capitalism 2.0. That is, less hierarchized, more human, more egalitarian companies … thus getting employees to feel more comfortable in jobs and be more able to develop their creativity and look for original solutions, something extremely important when we talk about goodsand new markets. In addition, also the founder of Intellisys Capital, a company aimed at Bitcoin investment funds. The occupation of the financial market for investment funds is also of growing importance. Investment assets are products in which buyers invest their capital. These investors acquire what is called “financial active” that consists of a title or simply an accounting entry where the title buyer acquires the right to receive a future income from the seller. The companies founded and led by Shrem were mainly directed to the Bitcoin business, they were companies that helped Bitcoin, publicize it, help with transactions, administer Bitcoin investment funds, etc.

Capitalism 2.0 corresponds to a reform of traditional capitalism, as well as the finance market corresponds to a readjustment of the industrial market, directed by the law of supply and demand. These readjust are not casual, capitalist investors seek ways to expand that capital, and the "improvements" made in the system are directed to achieve that goal. Therefore, it would be somewhat innocent to believe that cryptocurrency was only created with the aim of facilitating life on foot people, of being able to make bank transfers in a easier way. The fact is that the strange way in which the currency arose, the money laundering plots that have been forged around it, and the huge amounts of capital investments deposited in this cryptocurrency next to the desires of these same investors in makingof the currency a good out of state control, make believe that the intentions of their drivers are not to facilitate transactions, or of course they are not the only reason.

The interest generated in Bitcoin does not seem to reside in its valuable utility as a exchange currency, but in the discovery of a new investment product. The fact that is not owned by any institution facilitates its sale and investment in the purest style of free market. But since most citizens would not be interested in investment of financial products, you have to look for other ways to sell the product to citizens so that they trust it as a safe product and begin to use it in their day to day. And here is another of the components in which Bitcoin followers are interested, in generating citizens confidence regarding this new currency. The distrust of an asset results from extreme danger for its investors and therefore, one of the great disadvantages attributed to Bitcoin is that, the lack of trust of the possible users in it. In addition, taking into account that for most agents the existence of trust intermediaries is not a problem, as well as the costs and inefficiencies that are generated by trying to eliminate these intermediaries, it does not seem that Bitcoin, in their current configuration, it will have a significant impact for the financial sector as an alternative payment system to traditional channels.

Therefore, the use of Bitcoin as a currency as it is raised, out of state control can be a very juicy idea for free market who can see the opportunity to expand their generous heritage. For what for an average citizens would be nothing more than a "money" with the one who performs the most elementary daily transactions, for the big speculators it would be a new good to do business, thus gradually lost their original utility, or to theLess would be in the background, and would be dedicated to its new use as it happened with goods as necessary as homes;that of merchandise and financial active.