Changing the World with a Crypto (and Making Millions in the Process)

Metakovan´s net worth exceeds one Billion dollars, although 10 years ago he couldn´t afford to buy his own laptop. Metakovan became a software developer, and stumbled with Bitcoin in its beginnings, when such crypto´s price was only two cents.

Metakovan was able too purchase 200,000 Bitcoins at that low Price using all his savings.

At that time they laughed at him, but with each Bitcoin reaching a price of more than 50 thousand dollars and nobody laughs at Metakovan anymore. What does such story have to do with you? Well, the time machine does exist and here it is: Cryptosystems are just getting started.

Bitcoin multiplied its price by 200,000 the last ten years, and the reason are the promises it represents: A system with relationships and transactions without inequalities between the participants. What does that mean? The most obvious applications are "financial systems without banks", "government systems without politicians" and "markets without intermediaries" plus a multitude of other applications limited only by imagination.

Fear and resistance caused by Bitcoin, the first cryptosystem, have been diminishing over time. Earlier, many countries promoted “Fintech Laws” in an attempt to control the use of technology in their financial markets, which is impossible in this fast-paced multipolar world.

Missinformation was also spread in order to discredit Bitcoin. The most popular lie was that "Bitcoin transactions are anonymous" and therefore ideal for crime. Nothing is more false: It is precisely the transparency of Bitcoin that makes it possible to eliminate intermediaries: any transaction can be traced back to its origin. You only need to know the system. And this is precisely the most important thing about Bitcoin, as with any other computer technology: Being "open projects", that is, anyone can learn how the system is constructed and thus be able to see records, make developments and applications on top of it.

Information Technology History has taught us that open systems have always defeated their centralized and closed rivals. Crypto-systems are here to stay, one shall only acquire the required knowledge on them.

I doubt that Bitcoin will be able to multiply its price by 200,000 again in the next ten years again, mainly because it has two serious limitations that prevent its adoption: The existence of a type of participant in the network called a “miner”; This introduces inequality among the participants, and also requires a large amount of electricity to be used during “mining”. The other limitation is speed: the volume of transactions made with regular money is in the order of billions per second. Not even Visa or Mastercard could handle that. This is where the new cryptosystems come in.

There are more than 7,000 cryptocurrencies, but after several months reviewing the different projects, my two choices to fulfill the original Bitcoin promises are: “Iota” and “Cardano”, in that order.

There are other worthy projects that had done a lot for crypto ecosystem such as “Ethereum 2.0” that will be very useful in finance and other specialized sectors, but I don´t think they will multiply their price by 200,000 in 10 years as Bitcoin did.

By default, my savings are in Iota and I plan to leave them there for the next10 years, replaying Metakovan. There are other cryptosystems, more than 7000. There are many very useful, lucrative or fun, but in my opinion I think that none has the scope of Iota, because this cryptosystem will be able to provide egalitarian and decentralized relationships between all, as well as free transactions without spending a lot of energy, as Bitcoin does. Well, I aim to do as Metakovan, and see what happens in the future with a system I believe in. Don´t you think it would be okay for you?

Thanks to Bitcoin and its creator, whoever he/she is, for opening a new era with the hope of reaching consensus through computing systems, and with consensus reach a better life for all, because as 2020 teach us, the only way to survive is taking care of each other (and therefore, of our beloved planet). ¿How to buy Iota? I recommend Binance.

¿Want to learn to build applications on top of Iota? Click here for a free lesson.

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