5 reasons why Bitcoin can make you a better person
The purpose of this article doesn’t want you to be convinced to invest in Bitcoin. On the contrary, I want to share my experience with you and explain why I have felt like a wealthier person since I started my journey trying to understand cryptocurrencies.
When I talk about wealth, I don’t want to speak about money. I’m talking about having the sensation of living a more exciting lifestyle, compatible with your own standard, and understanding how the world economy and technology works. Bitcoin isn’t its price, is a new way of thinking.
I started to study blockchain very recently, in September 2019, and since that moment, I have never stopped being passionate about this sector. After the last two years, many things have changed, and in September 2021, I left my employee job as a software architect to dedicate myself to Blockchain developments.
Before you start to read my five points, I want to invite you to read the Bitcoin whitepaper if you haven’t done that. I’ve never seen in my life such a concentrate on cryptography, algorithm, game theory, and economy in 8 pages relatively easy to understand. I’ve studied many other Altoicoins, I’m coding on Cardano in particular, but no one can touch this level of elegance as Bitcoin. It reminds me of the formula E = MC², so beautiful, so simple, and so inventive at the same time.
Now, let’s see what Bitcoin has taught me.
1. Think different
Talking about Bitcoin is talking about a decentralized economy in a decentralized world. On Contrast, In our society, we’re usually adapted to think in a very centralized way. We’re delegating everything, money to the banks, political power to the government, and data to big tech firms.
With Bitcoin, people come back to being the owner of their money. After bitcoin, the concept of DAO (decentralized autonomous organization) was developed, and let me remember that an organization is healthy how much the power is more distributed.
Everyone should be able to contribute to a network and should be rewarded for his contribution. Every decision should be discussed and voted in public. The asymmetry of information between the elements of the network should be thinner as possible.
A centralized organization can be more efficient in making decisions, but it is a single point of failure and corruptible, not to mention that it generates inequalities.
So, slowly and inexorably, I’m slowly switching my preference to decentralized systems.
2. Antifragility
Antifragility is a property of systems that increase in capability to thrive due to stressors, shocks, volatility, noise, mistakes, faults, attacks, or failures.
The consensus algorithm of the blockchains is designed to be antifragile. The Bitcoin code is designed to run into the public network and expose any kind of attack. Still, the elegance of his incentives system makes it more convenient to participate in the network than against it. After 10 years Bitcoin network has always been perfectly up and running more than any other enterprise infrastructure or social network.
This is why smart contracts delivered into blockchain 3.0 can be more secure and cost savings than conventional enterprise solutions.
So I learned that any system should be delivered to be antifragile as the Bitcoin network.
3. Economy
Since I’m studying Bitcoin, I’m more conscious about how the economy works; it’s a continuous deep dive into the economic gears. These are examples of simple questions I Responded to by studying bitcoin:
- What is FIAT money, and why does it exist?
- What is inflation, and why does it exist?
- And what is the role of central banks, and how their actions are related to the stocks market?
4. Curiosity
This paragraph it’s very related to the previous one. Going deeper into the blockchain grassland, it’s a continuous discovery and experimenting process as a pioneer.
Studying Bitcoin makes me a more curious person, and every day I can discover something new that enriches my life.
Every day I can learn something new about the economy, game theory, cryptography, investments, or entrepreneurship. As much as I study as my perspective increases.
Observe and study -> Design a strategy -> Execute and experiments -> Get an outcome ->Observe and study
5. Responsibility
Since I got involved in the blockchain sphere, I’ve become more aware of my money in the broadest sense. I know that if I send money to the wrong address, I lose my money; if I forget my seed, I lose all my money; if I trust too much in a third party, I lose all my money.
This responsibility makes me more conscious of when I should choose a decentralized or centralized solution. Personally, I’m still using both to diversify the risk.
I would be curious to know if and how blockchain changed your life.
Let me know your point of view in a comment below.
