Know the Ideology about Bitcoin and its features

Today, the role of cryptocurrencies in the financial sector is often the role of intermediaries. Solutions based on them are often denoted by the abbreviation DeFi- decentralized finance.

 

Today, the role of cryptocurrencies in the financial sector is often the role of intermediaries. Solutions based on them are often denoted by the abbreviation DeFi- decentralized finance. This can be loans, insurance, investments, various financial instruments for trading, solutions for managing digital identity and, of course, gambling.

The blockchain are transparency, openness and invariability of data, therefore, this technology is already used by traditional banking systems of many countries - from Switzerland to China and even Belarus, without taking on the risks associated with the exchange of cryptocurrencies.

But endless opportunities for investment and bidding have a downside. Some large DeFi services, for example, for token exchange or Compound, a platform for financial markets, block a significant amount of “ether” to provide financial transactions with its help. This can affect not only the volume of "ether" in free circulation - but it is still finite - and the speed of transactions for which "gas" is required. Thus, the global success of Ethereum can immediately bring down all the costly solutions developed on its basis.

Bitcoin ideology

The philosophy and sociology of blockchain technology is the subject of numerous theoretical and practical studies around the world and especially in countries where cryptocurrency transactions are legalized

One of the main points was the libertarian "the market itself will understand." However, if you imagine the cryptocurrency market as such a “smart” creation, then over the past ten years it has not demonstrated any special “mind”: it has survived many crises and has not even come to a temporary balance. You can, like Andrei, treat those who exploit the capabilities of the system for their own benefit, as greedy, speculators and violators, perverters of the brilliant idea of ​​Satoshi Nakamoto. But we can assume that an anonymous decentralized system, not subject to control, itself contributes to such behavior, since this is the easiest and most profitable way to use it.

Ideology of cryptocurrencies

From the point of view of Western media critics, the ideology of cryptocurrencies in general, and bitcoin in particular, is closely and transparently connected with the neoliberals in cryptocurrencies it is easy to see the so-called "autonomy of capital": its emancipation, that is, liberation, and the rapid acceleration of exchange and development. Such limitless acceleration is a key idea in accelerations blockchain is an escape route for “domesticated” capital, which will entail a chain reaction and explosive development. According to the acceleration lists, this is exactly the way capitalism destroys itself, as well as, most likely, ourselves, but from their point of view, we should not be afraid of this. After all, it is possible that “human agents” are just cogs for the future of a global computer!

On the other hand, this is the absence of any social or legal guarantees, for example, protection against fraudsters. You can defend your property rights to Bitcoins through a court only by contacting a state so unloved by libertarians. Thus, the power in the cryptocurrency market belongs to the richest, boldest, cunning, lucky, but not necessarily honest or fair. And even these “lucky ones" can at any moment lose a significant part of their capital, which only increases the instability and distrust in such communities.Bitcoin Evolution login provides you all kind of trade and transaction

The philosophy of “crypto” is a socio-economic utopia, which is determined by decentralization, a free market and personal autonomy (and even to some extent the autonomy of the technologies themselves). Outstanding IT professionals of our time have created these technologies to build a new, honest, and transparent economy.

The fact is that a normal transaction on the blockchain cannot be undone. This is a consequence of all the benefits of decentralization described above. On the platform, you can try to “zero out” a transaction with a counter transaction, and sometimes it works - but even the intuitive interface to do this is not always at your disposal due to the constant updates of your wallet online (and not in every wallet he is). One way or another, the main consequence of the use of cryptocurrencies is the unusually rapid growth of your technological and financial literacy, even if this calls into even greater question their alleged availability to everyone.

 


TAGS: Cryptocurrencies