One coin to unite them all.

A world with a currency for everyone, but not dominated by anyone.

We know that money had many forms and forms according to the culture of each civilization, however, it is common to see that while the same civilizations grew and met others, they looked for a common item to transmit value.

This was extremely rudimentary until gold began to be used as a medium of exchange, with gold came the minting of coins, and the most advanced civilizations began to transfer value based on the content of precious metals, mainly because the coins varied so much in weight and shape according to the nation, but the economies spoke the same language, and it was easy to understand each other among those merchants who connected the world.

Coins that ruled the world.

When the time came, the ancient empires become the economic center of the world, and at this point it is extremely important to speak of the Roman Empire, the world spoke the same monetary language as the Romans. In every market in the known world, the circulation of the denarius, the quinary, the sesterce, and the ace was common; Having a common measurement object to value merchandise gave favorable results for trade, first there was its fluidity, and on the other was the ease of administration throughout the territory controlled by Rome.

However, a currency with such extensive use (geographically speaking) in the control of a single authority also has some drawbacks, the main one in the case of Rome was the devaluation, the enormous public spending of the emperors caused that when they were minted again the coins contained fewer grams of silver or gold, this difference went to the emperor’s treasury, and when used in such a large territory they had a negative impact on the powerful empire, that’s how old are the first cases of inflation. All this added to so many other factors made this empire implode.

Gold on paper.

This was not the end of gold as money, many centuries followed, empires were born and died, the population grew, new nations were created, but gold was still the language in which value was transferred, although not always directly.

In China in 812 AD the use of paper money was made official, which was backed in silver mainly, this was called flying money because of its low weight and easy transport, in fact China was the first nation with a system of issuance of well-structured cash.

Europe did not know forms of paper money until the year 1661 (17th century) from the hand of the money changer Johan Palmstruch, who delivered them as a “receipt of ownership” that was payable to the bearer, for whom he deposited gold or another precious metal in the Bank of Stockholm, which was his property. This model was rapidly reproducing throughout Europe, gold continued to be the reference of value, but what circulated were these receipts, to the point that soon the nations issued their own notes backed by their reserves of gold or another precious metal.

It is more than obvious that at this point there was a boom in money changers, who valued one currency against another based on their endorsement of another so that merchants would use the legal tender within each nation. Compared to the Roman system, this system made trade more fluid, but in a more limited area, at this historical point we have many smaller nations instead of gigantic empires, which means that trade between countries was complicated, however, the underlying language was still gold, therefore any difficulty would be less against the benefit.

We change the language.

Broadly speaking, this situation was maintained for a relatively long period, there were technical changes, and improvements regarding the banknotes, but in theory the backing of these papers was the gold reserves of each government, because at this point in history the only ones authorized to issue money were the central banks.

Then in 1971, as a consequence of a deficit in the US balance of payments and the enormous expense that the Vietnam War represented, the Ex President, Richard Nixon imposed an economic shock and permanently suspended the direct convertibility of the dollar against gold. This meant that the United States abandoned the gold standard, and its “backing” would be directly confidence in the economic strength of the dollar.

The repercussions of this measure had a worldwide echo because during the Bretton Woods Conference, the economist John Maynard Keynes proposed to establish an international currency, and maintain the aforementioned principles, and preserve a single monetary language in the world, initially it would be a new currency called Bancor. However, it was decided to adopt the US dollar for that purpose, provided that the Federal Reserve System upheld the gold standard.

The departure from the gold standard was not limited to the United States, shortly after, the rest of the nations folded to this measure, and the immediate consequence was chaos in the language to transmit value, with hundreds of monetary symbols, and each one valued at confidence in the economy they represented.

If we don’t speak the same language, we isolate ourselves.

We live in a globalized world, and although in theory we have tools like the internet that help us to do this, money does not participate in this process. In theory, the dollar is used as an international reference for the cost of goods and services, however the world is more complex than that.

Currently, there are 182 currencies, including de facto currencies (monetary species that is not the official one in a certain country but is still used by the population), with 182 currencies derive approximately 16,562 possible exchanges, but this does not end here, each currency represents a different monetary policy, and each monetary policy responds to a biased stance according to the interests of each nation. This is chaos, and no currency issued by any government has the neutrality necessary to be truly an international reference, the immediate consequence of this is that moving money across borders is expensive, and it is very slow. In addition, entire populations can arbitrarily isolate themselves financially, this is our current monetary system, an immense ocean in full storm, where only a few have the tools to prevail.

A neutral money, of everyone and without belonging to anyone.

The solution to this problem was born in a very discreet way, when Satoshi Nakamoto made his essay on Bitcoin public, very few people realized the power of this technology, but in its virtues was the solution for a truly neutral international monetary language, at everyone’s reach, and really efficient.

All this starts from the virtues that Bitcoin has by design; Mainly its neutrality, the currency itself has no one to control it, it has a protocol protected by a network of nodes in a decentralized way, by consensus everyone enforces the rules, and by economic incentives everyone agrees to play fair. Nobody can unilaterally take over Bitcoin, so in theory no government can impose its economic agenda, but at the same time any user can use it.

Its scope is important, Bitcoin does not have a physical form, it only exists in a digital medium, being data has as much reach as the internet, but in addition to this, systems have been developed to even transmit transactions through radio waves, or via satellite, making almost impossible to censor, therefore the possibility of Bitcoin being “blocked” is also reduced.

Using Bitcoin correctly, each person is the custodian of their funds, so from different apps and software you can manage your funds, this brings two advantages, firstly they cannot block the sending of funds, since there is no intermediary in the transaction, all this in addition to the fact that the network does not differentiate between nationalities, social strata, age, race, culture, or even if it is human or not, the transfer of value between peers will travel in a world without borders. Likewise, there cannot be a “denial of service” because you can also run your own node to verify your incoming transactions yourself, and from any compatible software to transmit outgoing transactions, in addition to being open source, anyone can build their own solutions to use.

Bitcoin is perfectly auditable, for this reason you can know in real time current supply, future supply, how many Bitcoins are moving, in addition to the commissions that are being paid, how much congestion there is on the network, all this live, all this maintaining its pseudo-anonymous characteristics, so everyone has information about what happens in Bitcoin, without compromising privacy, all in a timely manner.

Bitcoin is valued in a tangible way, firstly in the cost of the resources necessary to mine Bitcoin, and secondly the purest supply and demand, being more objective in its valuation, in addition its supply is finite, guaranteeing that its value also adjusts to growing demand.

Everything mentioned in the previous sections makes Bitcoin the ideal currency to connect the world in a global monetary policy, a currency that can be traded in pairs without any type of barrier, with an adjustable value over the years, also within the reach of A good part of humanity, with the ability to travel in minutes from one side of the world to another with very low costs, commerce would speak in a single neutral monetary language, bringing an efficient, organized, and transparent flow.

A currency of everyone and nobody, a currency to unite us all.