guido ochoa, brief histoy of cryptocurrencies

Some proposals to generate value based on other instruments that were not known until a few
years ago, such as Fiats, stocks, etc., had been exposed since the 1960s, with the passing of the
years and different technological developments, Satoshi Nakamoto proposes a cryptocurrency
called bitcoin. Technically, it is the union of several technologies that were already sufficiently
developed and Satoshi managed to unite them in a project called Bitcoin: an electronic cash
system, a payment instrument. Bitcoin in its initial stages was adopted by a group of nerds and
took its big step when the first commercial transaction was made when it was used to buy or
exchange for a pizza.

Bitcoin, as an instrument of value, since its beginning to this date has gone through several stages,
however the most important thing is that today there is no doubt about the value it may have.
Let’s remember that initially everyone was wondering how a crypto code could have value or
could be exchanged for something. Nowadays nobody asks that question, it is simply accepted as a
reality. Especially in the new generations, the value and use of bitcoin and other cryptocurrencies
is taken for granted.

Once the bitcoin took value, this day to day was increased according to its purchasing power and
the reference value for the conversion to the Fiats currencies or other cryptocurrencies. Other
crypto instruments designed not to be a cryptocurrency, also took value, in some cases important
values for a long period of time and in other cases temporarily.

The first exchange houses that allowed to exchange bitcoins for Fiat currencies made possible the
massification of cryptocurrencies and managed to lose the fear of cryptocurrencies as an
investment, beginning to generate a parallel and alternative system to the traditional financial
system. This new panorama makes the traditional financial system act under threat of being
displaced, which is why nowadays it has taken over the universe of cryptocurrencies and especially
bitcoin, being the largest investor of all click here startups that are related to the world of bitcoin,
cryptocurrencies and blockchains.

The aforementioned ideas raises the question whether, at present, is there a fundamental
difference between the value of fiat currencies and cryptocurrencies?. These values are based on
the trust and/or credibility that the holder has in the fiat currency or in the cryptocurrency.

To clarify what has been said previously, we are referring to value, not to the technological
components or institutions that support one or the other model, that is, between the traditional
financial system with its Fiats instruments and the technologies that support Cryptocurrencies.

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