THE YEAR IS 2050: WE RECOVERED FROM AN ECONOMIC COLLAPSE AND THE WORLD IS NOW BETTER — PART 3

(this is the third and final part of the article. Click here for Part 1; Click here for Part 2)

THE STATUS OF THE ECONOMY IN 2050

By Mirai Nakamoto

- Wow, grandpa. I would never think we went through that much.

- Yes, kiddo, we did. We went through quite a lot to arrive at today’s world where poverty is virtually eradicated, and most governments are finally financially responsible, only spending what they collect. The world is a much wealthier place today.

A few decades ago, countries who adopted a “do no harm” approach to crypto-currencies benefited the most. These include most western countries like Canada, USA, most of Europe and most of Latin America. And also Japan and South Korea. Countries who heavily fought against Bitcoin in the beginning, like China and India, found out that they could not win, so they finally embraced Bitcoin after a while. They still have some catch up to do, but they are on the right track. Governments are serving people better today, and Bitcoin certainly played an important part.

- Grandpa, how did Bitcoin evolve?

It has been constantly evolving. It scaled exponentially to accommodate all users, it added anonymity to become fully fungible; innovation never stopped. Many other cryptocurrencies were created and also evolved. Today we have all these cryptocurrencies that interact seamlessly with government money in several blockchains. All currencies today are voluntary and it is hard to imagine that, just a few decades ago, money was controlled by governments.

- And, what if Bitcoin never existed, grandpa?

- I do not know how we would get out of that economic mess without something similar to Bitcoin. I believe it would have been a total disaster, a complete social-economical failure. You see, back in the day when the Bitcoin price was quoted in fiat money and was rapidly increasing, many people claimed Bitcoin was a bubble. Today, many people say that Bitcoin was in fact the pin that popped the fiat money bubble. I prefer to view Bitcoin as our savior. Our world not only survived, but also got incredibly more prosperous.

- Grandpa, who should we thank for this transformation?

- Kiddo, we definitely should thank Satoshi Nakamoto for creating bitcoin, and the developers for continuously improving it. And certainly the millennial generation deserves our gratitude, since they were the ones driving the adoption over the years.

What I also enjoy about this crypto-revolution is the fact that it was NOT something that was imposed on us from the top down. Bitcoin was neither created by a government nor by a corporation. It was an anonymous human soul who invented it. It was a gift from the one of us to all of us.

- Grandpa, who was Satoshi Nakamoto?

- We still do not know, kiddo. Satoshi disappeared a couple of years after creating Bitcoin. But it does not matter. Whoever he, she or they are, we are thankful for this world-changing creation.

- Grandpa, how did you learn all that?

- Well, kiddo, I was an engineer and I also had solid financial training. I worked for a strategy consulting firm and I lived in many countries. I also worked with financial derivatives for a few years, so I got to know Wall Street– I was disgusted by the system. When I learned about Bitcoin, I immersed myself in that universe for years, I studied the Austrian School of Economics, and I would follow leaders in the space. At one point, I even wrote an article about the crypto-economy because felt that sharing my thoughts was an obligation to society.

- Well, grandpa. Thank you so much for this inspirational conversation.

- Thank you, kiddo. It is always a pleasure talking to you. Here, take this one hundred dollar bill from the late 1900’s. It is a nice collectible. And, do not forget that it is backed by the “full faith and credit of the Federal Reserve of the USA”.

I wrote this article to ignite interest in the crypto-economy. This article is copyright free — share it, use it, replicate it, translate it, get the word out, do something. Also, please translate to other languages and publish. I am NOT looking for personal recognition; I just want to help educate the public.

To learn about crypto, I’d suggest YouTube videos, reading books & articles, and following thought leaders on Twitter. I recommend materials from Andreas Antonopoulos, Beautyon, Chris Burniske, Jameson Lopp, Max Keiser, Nick Szabo, Saifedean Ammous, Trace Meyer, Tuur Demeester, Vitalik Butterin, and the World Crypto Network. And, if you are tech-savvy, read the whitepaper by Satoshi Nakamoto.