A HISTORY OF FIAT AND HOW BITCOIN HAS DOMINATED

A HISTORY OF FIAT AND HOW BITCOIN HAS DOMINATED

For the last 5,000 years money has been one of the most important but least understood manmade tools in existence.

Money has been used as a tool of exchange since it first came into existence during the ancient Mesopotamia era in 3,200 BC, when people first used tablets, known as pictographic tablets, to account for goods such as grain, meal and malt.

Skip forward a few hundred years to the time of the medieval days, it was during this time that people began to trade notes, and ultimately human beings saw the birth of fiat. At the very same time, fractional reserve banking was created because bankers knew that they could issue more notes than the gold shillings they had in reserve, and no one would ever know. However, this of course failed and inflation was born.

Since this time money and the idea behind it has evolved drastically over time from a system of information, to a social contract and further on to a ranking within the social and business system.

Over time the central banks and other major financial institutions under their control have single headedly, with no say from the people, created a system of fascism, crony-capitalism and corporatism. As a result of this we now have the issue of the 1 percent group, a group of the worlds wealthiest people who control a great majority of the worlds capital, commodities, land, means of production and political influence.

Since the birth of Bitcoin (BTC) in 2009 the evolution of money has once again been altered and transformed society’s concept into something very different and new.

Satoshi Nakamoto developed and released Bitcoin in order to create a system that allowed the underlying assets to be kept in one place that is then verifiable by only the two parties exchanging. Creating a completely transparent ledger.

For the first time in history, humans and organisations have complete access to a medium of exchange that is not controlled by one individual or a group, it is not issued by a government or central bank and has zero corporate backing.

Bitcoin (BTC) has proven to be greatly popular among the people as an alternative to fiat currencies because it gives them the chance to redistribute the worlds wealth in a much fairer way that benefits everyone, not just the elite 1 percent, the banks or the government.

Unlike central banks, Bitcoin is not private, the entire ledger is open for anyone to see meaning the protocol can be audited 24/7. Bitcoin solely relies on a social contract that as a participant, is agreed upon, this includes:

  • No confiscations
  • Censorship resistance
  • Digital scarcity
  • Verification at any time

It is now up to us as a global society to use Bitcoin in our everyday lives in order to gain a reliable monetary system that remains valuable for daily use as a medium of exchange.

Contact the leading Bitcoin Mining Specialists today to see how you can incorporate and benefit from Bitcoin in our everyday life.

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