One day after finishing our coverage of the event that covers topics of Economy, Finance and Investments, people from EFI Week Online They bring us a talk to know the current status of the crypto. In order to fulfill this objective, the authors of the book entitled “Cryptocurrencies, status“
Status of Cryptocurrencies and their explorers
Before learning about the state of cryptocurrencies, we need to know who these explorers are who decided to put it in a book. Starting with Gonzalo Arzuaga, being the visionary who seeks to expand the knowledge of Bitcoin and crypto in Argentina. To fulfill this objective, he founded Bitcoinario.com to offer courses and workshops on cryptocurrencies.
In addition, we find Gonzalo Blousson, a developer passionate about the technical realm of crypto, particularly focused on Blockchain technology. Therefore, their vocation is to provide support to other people and companies, using their knowledge and new analysis. For this, he decided to found Signature, one of the largest Blockchain software development firms in Argentina.
In this way, we can see that both Gonzalo are professionals dedicated to the study of cryptocurrencies. Therefore, we can assume that they are able to study and determine the current state of cryptocurrencies, since they must constantly update and expand their knowledge.
Furthermore, once our panelists are known, it is time to listen to their words and experiences.
A common story
To begin their talk, they decided to introduce themselves by telling their story with cryptocurrencies, which several of us can feel identified with. We say this because, like many, they comment that they rode the crypto wave late, around 2013.
At that time they were skeptical and doubtful about this “decentralized digital money”, given that they had suspicions that it was another ponzi scheme, or a bubble like that of the Tulips. And it is here where they comment on his first teaching of life, demonstrating his process of reflection during his life.
They comment that it is a mistake to compare the tulip bubble, the historical case of the bubble that marked the world. The reason for this is simple, the tulips had no future value and at the time were known. Even assuming that cryptocurrencies and Bitcoin went through a bubble in 2017, it is a fact that they have significant use value for society.
However, they highlight an important issue to consider, being the cause of many errors and misunderstandings. While Bitcoin and cryptocurrencies have been around for a decade, it is still an immature market when compared to its more traditional counterparts.
In addition, the lags of knowledge about cryptocurrencies can be seen in the differences in regulations between each country. Latin America and some eastern European countries are the most backward on this issue, causing problems due to the lack of an adequate legal framework.
For this reason the initiatives of Bitcoinario.com and Signatura are born, to stimulate discussions about cryptocurrencies. In this way, they are the people who force their politicians to design laws that include crypto assets, filling the gaps caused by the lack of innovation.
Are cryptocurrencies money?
Continuing on the subject of the discussions that revolve in the world of cryptocurrencies, the eternal debate arises whether cryptos are really money. Faced with this question, they state that it is necessary to see the situation from another point of view, arguing that the word “coin”Works as an adjective.
In this way, it is possible to measure how much “currency” cryptocurrencies are, using their forms of use as indicators. It can vary from forms of savings, form of payment and means of investment.
To close their panel, they make two fundamental suggestions for people who want to invest in cryptocurrencies.
The first tip is that you should only invest what you are willing to lose. This means that you cannot use the money destined to make important payments or expenses.
The second tip, which is essential, is that the greatest investment will always be time, being the time you look for information, the time you feel to understand the market and so on.
Finally, if you liked this talk, we invite you to join us tomorrow for the last day of EFI Week Online.