EFI Week Online: Bitcoin Plan B Works

Officially, the event on Economy, Finance and Investment begins, exposing innovative topics such as cryptomoney, the EFI Week Online. To start, we have the presentation of Ivan Tello on the power of cryptomonies in the world, with his presentation entitled „It’s time for Plan B (Bitcoin)“.

Kryptomonas says present at EFI Week Online
One like us: Ivan Tello
Before giving his lecture on Bitcoin, Ivan Tello decided to tell his story with the Bitcoin Lifestyle, one that many will be able to identify with. He says that a friend of his in 2013 introduced him to this idea of digital money, which is totally decentralized and had a value that changed over time, $ 3 approximately. Ivan at first hesitated about it, thinking that his friend wanted to put him in another ponzi scheme.

However, as he read more about it, researching on the internet and seeing how its price was increasing. So, he decided to invest $30 in Bitcoin to buy parts, and from one moment to the next, he received what he bought.

This moment was revealing for Ivan because he was able to avoid all the obstacles and regulations imposed by Argentina. And since that event, he decided that he had to change his way of life, applying his own Bitcoin Plan B.

An alternative that would allow him to have control of his money.

The money is fake and it grows on trees

With this anecdote, he began his lecture, raising an idea that no critic of cryptomonies could accept. According to Ivan, Bitcoin is more real than Fiat money, since this centralized money grows on trees.

Developing this approach, he begins to explain how the money generated by the Central Banks is more unstable than the cryptosystems. With an important argument, one that we have set out several times on the page: Fiat’s monopoly on money and how they print to their liking and needs.

Unlike Bitcoin, Fiat money is constantly expanding at the behest of the governments in power. Although it is a topic that has existed since the creation of the Central Banks, it preferred to focus on a closer issue, the control measures by the Coronavirus.

If you remember, at the time, the Federal Reserve and the government of Donald Trump, chose to issue 2.6 billion dollars to stimulate the economy. However, like alcoholism, he argues that in the short term it seems like a good idea, but in the long term the negative effects appear.

As we have explained on several occasions, using economic theory, money injections cause access to consumers in the short term. However, every increase in money without production support causes inflation, as products become scarce.

To emphasize his point, he decides to use a more local case, exposing the situation with Argentina. Regardless of which political party one belongs to, it is an irrefutable fact that over the years, prices in Argentina have been rising considerably. When you compare it with the amount of money circulating, you can see that, every time it increased, inflation shot up.

Furthermore, as a curious fact, he comments that the emission of money in Argentina has reached such a point that, it became known that there was a shortage of paper money to continue the emission of money.