Pradeep

“The bed so soft it feels like a cottony cloud!
The size so big t’will make you proud!
All the money you have in the keep!
Not enough to buy you some sleep!”

This is never a thing which you can see or feel! But still it is worth thousands of dollars and is one of the most exclusive commodity in the world today!

No! It is not your brain which you may not see but know it is there! But it can really stump your brain!


read on!

The biggest commodity in every industry is of course money! Then there is a form of money which you cannot see!

If someone says money is not necessary then he or she is either lying or well he or she is definitely lying!

Only thing is that it is not the most important thing and not the only necessary thing!

In the novel called the Bitcoin Standard by Saifedean Ammous he talks about different forms of currencies over the history starting with salt or a piece of limestone to gold and other metals to paper money!

Except gold which is a currency which can always be quantified and which would never fade away, other currencies are dependent on the state of the government and other economic factors.

This is where the latest currency craze, which is bitcoin comes into play! Now this is one the many types of currencies which is not under any control!

Bitcoin is the first decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 by Satoshi Nakamoto!

But did you know that even that is a pseudonym! No one has actually seen or met him!

In a documentary it was speculated that that Peter Todd, a college student in 2008, might be the original creator of the cryptocurrency!
Then again it has not been proven possibly so that people could take Bitcoin seriously, so they could believe it was created by a famous cryptographer and not some kid still in school!

Use of bitcoin as a currency began in 2009, with the release of its open-source implementation

In fact in one country in 2021, El Salvador adopted it as legal tender!

Now how powerful is a Bitcoin? Well, the first time Bitcoin was used for purchase was in around 2009-10 for buying a pizza! The buyer paid ten thousand bitcoins for that!

That would have in all probability the most costliest burger in the world! Because cut to 2021 and the value of a single bitcoin is 46k dollars and in 2024 Bitcoin’s price today is US$98,139.43!

And if you think practically it is not gold or cash! It is a mode of transaction or legal tender which you cannot see or hold in your hand!
It’s a mode of payment which is virtual! The Bitcoin are limited currency which cannot be produced more if you need so there will not be any recession!

It is not controlled by the central government and Bitcoin cannot be hacked since it would take so much more effort and resource and the end result without POW is useless!

POW is proof of work which has to be authenticated by a group who are paid for it and they will also never be hacked! Also the cluster size is fixed and that the original Bitcoin can be modified but that will lead to another currency so it is better to not modify it!

Then again you would think if you cannot touch or hold it then how can you put value to it? Well, if you practically think then even the 500 INR in your hand is having that value only because the government says so and certifies it! Without that it is just a piece of paper! Like how during the demonetisation that 500 rupees became ZERO overnight!

For now in spite of the controversies and illegal trading, for all practical matters, Bitcoin is one of the top contenders for the currency of the future! Let us wait and see how it goes!

Like old times maybe we return back to salt for money if the Bitcoin is a bit too much! Now speaking of old times reminds me of Sital Batabyal and his old super cool movies! I used to love watching his classic movies! You may know him as Pradeep Kumar!

Now crypto or not! Let all trading cease so that you can sleep in peace since Bitcoins may give you a comfortable bed but sleep has to be earned without it!

Shubh ratri!