Bitcoin (BTC): Is Satoshi Nakamoto’s creation on the way to monetary adoption?


I have a dream – Since its creation in 2009, Bitcoin (BTC) has always been presented as an alternative to traditional financial systems. Satoshi Nakamotoits anonymous creator, then aimed to allow everyone to make a transaction in BTC not including banks or other financial institutions. Ten years later, the king of cryptocurrencies is gradually finding its place by becoming an alternative and above all decentralized financial system.

Bitcoin and decentralized finance

Bitcoin was created by Satoshi Nakamoto in order to meet a need during the economic crisis that hit the world in 2008: to allow everyone to be able to carry out financial transactions in complete freedom, without being controlled by financial institutions. It is to carry out this project that Satoshi Nakamoto imagined a decentralized system which rests on there blockchain technology.

There blockchain for its part, it allows data to be stored in a secure and decentralized way, without the need, therefore, to trust a third party. Decentralized finance thus allowing a financial system that does not depend on banks. Constantly evolving, the Bitcoin network has been able to solve the problems of scaling and scalability with significant advances. Furthermore, the Lightning Networka second-layer payment protocol, has continued toimprove BTC transaction speed. His recent performances even show that BTC priceas shaky as it is right now, does not affect Bitcoin’s flagship payment protocol.

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The Satoshi: an increasingly widespread currency

Over the years, the evidence of the virtues of this technology has regularly imposed itself in the face of an economic and political context that calls into question thedollar hegemony. His supporters confirm this. THE cost of its transactions East down and his faster speed than transactions in traditional finance, especially for cross-border transfers. In fact, transaction volumes have increased over the years, once again driven by the success of the Lightning Network. Industry professionals like Richard MicoUS CEO of the cryptocurrency buying platform Banxa confirms it:

“Development in terms of constructing crypto payments has continued, although it has gone somewhat unnoticed due to volatility in the wider market. »

And, on the ground, the results are visible. For example, in Brazil, exchanges between bitcoin and the real increased by 72%. So big brands like You’re hereMicroStrategy, but also anonymous people on the African continent, including certain populations in South America: Bitcoin spreads until becoming legal tender in El Salvador For more than one year. There are many examples of countries, continents and people who use Bitcoin and cryptocurrencies as a means of struggle against the inflation that is eating away at our portfolios or even as weapon against monetary oppression… Witness the use of Bitcoin in Africa, a real remedy for the monetary suffering that is eating away at the continent.

Bitcoin (BTC) in Africa: a weapon against monetary inequalities

Bitcoin facing regulation

So yes, if we take a trip back in time, Bitcoin is gaining ground. But let’s not get carried away, because the list of obstacles to overcome for the king of cryptocurrencies to build his kingdom remains long.

There regulationalways inclined to protect consumers, guards its volatilitybut also its decentralization which would allow – still according to the regulator – money laundering, or even a means of fighting against international sanctions in the manner of theIran and Russia for example. Increasingly strict financial police around the world are slowing the rise of bitcoin and cryptocurrencies.

In addition, the various events that punctuated the year 2022, from Luna to Celsius via FTX, caused a crisis of confidence and a long and harsh crypto winter, exacerbated by the wrath of the SEC.

The arrival of bitcoin and its network has enabled a transformation of our economy. Having become a secure and viable alternative for its users, cryptography has made it possible to support the rise of other cryptocurrencies, but also the arrival of stablecoins. Indexed to the value of fiat currency, stablecoins have become popular payment options, sometimes chosen by credit card giants like Mastercard or crypto platforms such as Binance recently in France. Central Bank Digital Currencies (MNBC) on the other hand endorsed by the IMF continue to threaten the still very young reign of the king of cryptocurrencies.

Cryptos and blockchain technology are still young and volatile sectors. Any investment involves risk. As a well-informed investor, have you done your own research and decided to take the plunge? Current prices are an opportunity to add a few satoshis to your wallet! To do this, register on eToro (commercial link).



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