In ancient Greek mythology, chimera was a monstrous hybrid creature that spits fire formed by the portions of more than one animal. It was a strange beast of divine origin that devastated the Lykia countryside in Anatolia. Classical depictions of chimera regularly depict her as a lion, with a goat’s head ousting from her back and a tail ending in a snake’s head. Chimera was considered “invincible to the fullest” because it had the strength of a lion, the cunning of a goat and the venom of a snake. However, his ultimate and fatal weapon was his ability to spit fire.
Today, the term “chimera” describes everything that is composed of disparate portions or that is perceived as incredibly imaginative, implausible or dazzling, is a concept that lives in the spirit of its host and is interpreted according to the cases and preconceived concepts of the individual. .
Bitcoin is the chimera of the economic world. Although its attributes seem deceptively undeniable at first glance, one of its greatest assets is that it represents many other things for others. A Syrian refugee can adopt Bitcoin as the primary means to preserve her wealth of savings she chooses to bring her wealth. as you embark on a precarious adventure across borders and settle into a welcoming European country. The owner of a winery in Argentina can use Bitcoin as a price reserve and as a means of exchange, as the Argentine peso depreciates rapidly. they see Bitcoin as a top beta game in gold that has impressive qualities to the shiny rock. Moreover, it is noted as a cover opposed to economic and fiscal irresponsibility that destabilizes the global economic formula through the world’s largest macroeconomic asset managers, insurance corporations and the state. ownership companies.
As Bitcoin grew, its network joined the narratives they have replaced over time. Starting as a speculative virtual collectible, moving to a new form of virtual currency from equal to equal, advancing towards virtual gold now and potentially becoming a fundamental currency and a based on the virtual capital market in the future, Bitcoin gains credibility as it goes through other stages of maturity.
This ability to redefine itself in the minds of its users provides Bitcoin with its most productive defense mechanism. How can you destroy a formula that constantly reconfigures itself to freeze with the last story of the day? In particular, a formula that allows its users to adapt. its assets by memorizing a mnemonic phrase, thus living literally in the mind of the user.
Financial operators your tone
Leading monetary gurus and business leaders were right to be skeptical of Bitcoin in its early day: no one could have foreseen that an embryonic virtual currency born under the pseudonym of the marginal Cypherpunk movement would challenge dominant sovereign currencies and the global reserve of valuable goods.
Although incredibly promising, Bitcoin still has a lot of technical and social disorders that it faces if it is in its perspective and continues its existing growth trajectory. and from a regulatory point of view. They are still very early in their lifecycle and their main usage instances will continue to solidify over time.
2020 was the year Bitcoin entered the public consciousness. As it prospered as our public establishments faltered, others began to see it as a true paradise. 2021 will bring new challenges and a vehicle to preserve uncorrelated non-sovereign wealth can help us manage the uncertainty of the future.
Bitcoin, crypto and blockchain, new business models and global coordination creation. In my writings, I explore how virtual assets allow for new instances of use and their
Bitcoin, crypto and blockchain, new business models and global coordination construction. In my writings, I explore how virtual assets allow for new instances of use and their second-rate effects on economics, finance, and politics. I am Vice President of Digital Asset Strategy at Fundstrat Global Advisors. I was also founder and CEO of NovaBlock Capital, a leading company in investments and generation studies aimed at adopting virtual assets. I attended the University of Pennsylvania and earned a bachelor’s degree in economics in collaboration with Wharton School.