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The Silence of change

It's Almost Like a Thriller Movie Title, Right?

But don't worry, I'm not about to recount the latest episode of a TV series.

Today is one of those days where silence reigns supreme. A silence filled with 'normality' and gossip, just like any other day. It's as if newspapers, TV, and even social networks are all engaged in a cosmic game of hide and seek with a topic that, in my opinion, is too big to be hidden or ignored.

Okay, let's step down a notch towards the target.

I'm going to talk about macroeconomics, computer science, and history. If these topics don't excite you, now's the time to channel surf, sticking with the TV series theme.

If you're still here, congratulations! You've just earned the badge of the boldly curious.

Tomorrow is the big day.

Something huge is about to happen on a global scale. Something so new and revolutionary it will change the economy as we know it.

Remember the Bretton Woods Agreements? Doesn't matter, something similar is about to happen.

Tomorrow, January 10, 2024, a new player will enter the global economy stage: the Bitcoin ETF (Spot). Yes, that very cryptocurrency that recently celebrated its fifteenth birthday and that, until now... well, is still labeled as "the criminals' currency." But not those in suits and ties on comfy chairs, the "really bad" ones, those lurking in the "dark web," whose mere name should instill fear. But let's not dwell on that.

I'm so internally conflicted it's almost hard to find the words. It's a mix of excitement and fear, like when you realize you're one of the first to know about an epochal change, and everyone around you seems to live in another dimension. Obviously, I'm not the first, but we're indeed very few who are aware of this. However, we're not special, don't get me wrong. Anyone (and I hope they do) can find all the information online.

Away from weird conspiracy groups or strange theories. Just start from bitcoin.org, and from there, it's all downhill (or rather, uphill with a steep 89.9° incline, given the amount you'll discover).

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A Bit of History

Let's take a step back and talk about gold. Did you know that gold was the basis of currency value?

Boom, 1971, "Nixon Shock," due to an American "miscalculation," the state lent too much money and didn't have enough gold reserves to collateralize, so when many came back to reclaim their gold... well, it didn't exist. How did old fox Nixon deal with it? He declared that the value of the currency would no longer be tied to gold. Simple, right? From that day, circulating currency, cash, had no value, nothing beneath it that justified its preciousness.

If you already knew this, congratulations! You're a step above the average.

Now, the value of the currency is based on trust. That little piece of paper we call a banknote, therefore, has no intrinsic value. It's a bit like that game where with colored paper pieces we buy houses, hotels, parks... Yes, I'm serious. If we all agreed (everyone) and decided that Monopoly money was recognized for buying coffee at the bar, we would have just done the same thing Nixon imposed on the world then.

Anyway, I won't dwell on the controversies of the monetary system, even though it would be easy to fall into temptation.

Cut, transition, and we're in 2008: remember the financial crisis of 2008 and the panic in Greece first in 2009, then again in 2015, when people couldn't withdraw their money from ATMs? There you go, it's all a game of trust. And then it was betrayed by banks towards their citizens, who at most could have 60 euros a day.

But how, banks can do that? Welcome to the rabbit hole.

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The Paradox of Banks

Banks, oh banks! Those places where you deposit your money thinking it's safe behind a mega super giant door, when in reality they are used (by the bank) to make more money through various operations.

A practical example: if everyone wanted to withdraw their savings at the same time, they would discover the bitter truth: it's no longer in the bank. In fact, to be precise: it doesn't exist. Only one person out of ten can access cash from the bank (literally so. 10% of the money in the bank is liquid, the rest is electronic).

And here's the kicker: the control of the entire (electronic) monetary system is in the hands of... only three private companies. No government, no guarantor, just a trust agreement. With your money, though. Ironic, right?

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And Now?

Let's get to the point. Tomorrow we'll know if the Bitcoin ETF Spot will be approved. This could be the beginning of a new era for currency.

Bitcoin, this much-discussed and sometimes maligned cryptocurrency, could become a globally recognized financial instrument. Imagine: a currency that doesn't depend on governments or central banks, but is based on an advanced cryptography system. A currency that you can't print at will or "make disappear," on the contrary, you can track it! Follow it, see what it does, where it's used, and "by whom" (quotes because you won't find a name and surname written on bitcoins, but I won't go into that now).

And the beautiful thing...

You can hold it completely autonomously. It's like having cash under the mattress, but made of gold and protected by a Swiss bank, but not of others, you are the bank itself. Then, but just to pique your curiosity, I'll tell you that all this has upstream a system made of two codes, one public and one private, which then through the super complex cryptography and mathematics behind bitcoin, the game is reduced to an address and 12 magic words. Cool, right? For me, it is.

Conclusion (finally, you'll say)

From tomorrow, Bitcoin might no longer be seen just as a tool of cybercrime, but as a real economic revolution. In fact, for me, they'll slap it around a bit like the Ferragni panettone nowadays (Italian’s fact, sorry).

Not enough: it will be recognized, regulated, and potentially adopted on a global scale. I mean, do we realize this?!

And so, dear reader, welcome to the new era of the economy. An era in which "Bitcoin" might become a common word in every conversation and perhaps even attract your attention, unaware of it all until 10 minutes ago.

Do your research, because the future is right around the corner. A future made of community, mystery, value, scams (worthy of a top-notch TV series) but especially freedom.

All this, is bitcoin.

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