{"id":2754,"date":"2024-10-22T08:35:12","date_gmt":"2024-10-22T08:35:12","guid":{"rendered":"https:\/\/apex-aiexperts.com\/?p=2754"},"modified":"2024-10-22T08:35:12","modified_gmt":"2024-10-22T08:35:12","slug":"why-was-bitcoin-created","status":"publish","type":"post","link":"https:\/\/apex-aiexperts.com\/es\/why-was-bitcoin-created\/","title":{"rendered":"Why Was Bitcoin Created?"},"content":{"rendered":"<p class=\"wp-block-paragraph\">Depending on who you ask, the word \u201cBitcoin\u201d can have many different definitions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And as some start explaining what Bitcoin is, that\u2019s when you\u2019ll typically start hearing tech jargon spewed out.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Words like \u201c<strong>blockchain<\/strong>\u201d y \u201c<strong>protocol<\/strong>\u201d.And phrases like \u201c<strong>peer-to-peer networks<\/strong>\u201d y \u201c<strong>distributed ledgers<\/strong>\u201d.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">OMG! Jargon overload!\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s easy to feel like you\u2019re drowning in a sea of terms. Trying to accurately describe \u201cBitcoin\u201d can get technical and complicated\u00a0<em>really<\/em>\u00a0fast!\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So rather than go that route,&nbsp;I think a better approach is to start with the PROBLEMS that Bitcoin was trying to solve.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Once you understand that, everything will become much clearer for you and you\u2019ll be able to grasp the technical concepts faster and follow along much more easily.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why was Bitcoin created?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">According to the Bitcoin white paper, Satoshi Nakamoto wanted to create:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u201c\u2026<strong>electronic cash<\/strong>&nbsp;that would allow online payments to be sent&nbsp;<strong>directly<\/strong>&nbsp;from one party to another&nbsp;<strong>without going through a financial institution<\/strong>.\u201d<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Translation:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u201c<strong>Physical cash<\/strong>&nbsp;allows me to transact directly in the REAL WORLD with another person without the need of a bank. I like this freedom. I want this same freedom ONLINE. So I need a digital version of cash or&nbsp;<strong>dinero digital<\/strong>. \u201d<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Satoshi\u2019s answer:&nbsp;<strong>Bitcoin<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The concept of creating a digital version of cash that can be sent around online without a \u201ctrusted intermediary\u201d sounds simple but before Satoshi Nakamoto created Bitcoin, all previous attempts were unsuccessful.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>This had never been done before.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let me explain why using an example.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s say that&nbsp;<strong>Ursula the Unicorn<\/strong>&nbsp;bakes and sells cupcakes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These cupcakes are special. They sing. They\u2019re waterproof.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They are singing waterproof cupcakes!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And each cupcake only cost $1. With air delivery, via unicorn, included for free.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Molly the Mermaid<\/strong>&nbsp;wants to buy one cupcake from Ursula.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So they meet up and transact with cold hard&nbsp;<strong>efectivo<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Esto es lo que ocurre:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Molly gives the $1 bill to Ursula.<\/li>\n\n\n\n<li>The $1 bill is now\u00a0<strong>physically owned<\/strong>\u00a0by Ursula.<\/li>\n\n\n\n<li>Ursula trusts that the $1 bill is\u00a0<strong>unique<\/strong>\u00a0y\u00a0<strong>real<\/strong>.<\/li>\n\n\n\n<li>The $1 bill is unique and real because it can be\u00a0<strong>verified<\/strong>\u00a0since it\u2019s issued by a central bank.<\/li>\n\n\n\n<li>Due to these properties, the $1 bill is used as a\u00a0<strong>medium of exchange\u2026<\/strong>meaning other people are willing to\u00a0<em>intercambiar<\/em>\u00a0the $1 bill for stuff (\u201cgoods and services\u201d) they want.<\/li>\n\n\n\n<li>Ursula gives the cupcake to Molly.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Now let\u2019s say that Molly is soooo far away that the distance would be even way too far for even Ursula to fly and deliver the cupcake herself. She\u2019ll have to ship it via an air courier service like FedEx or UPS.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ursula wants Molly to send payment first\u2026.<strong>online<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But how will Molly handle payment?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">How can Molly&nbsp;<strong>send cash over the internet?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There lies the problem with cash.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cash is&nbsp;<strong>money in the PHYSICAL form of currency<\/strong>, such as paper banknotes (dollah dollah billz yo!) and metal coins.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But we have a problem\u2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can\u2019t send physical cash over the internet!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Buyers and sellers have to be&nbsp;<strong>physically present at the same location<\/strong>&nbsp;in order to transact in cash, which isn\u2019t always possible.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since cash is physical, how do you transfer it online?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By digitizing it\u2026by making it&nbsp;<strong>digital<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But if it\u2019s digital, that means it can be easily reproduced (digital counterfeit).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>So how do you prevent people from spending their digital money twice (or more)?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So that\u2019s one problem.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There\u2019s another problem.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Molly wants to use cash because she already has some in her wallet. But if she wants to send cash&nbsp;<em>electronically<\/em>&nbsp;(in digital form), now she has to rely on a financial institution like a bank.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But what if Molly didn\u2019t have an account with a bank? Sorry Molly, no cupcakes for you then.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fortunately, in this story, Molly&nbsp;<em>does<\/em>&nbsp;have a bank account.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But when we\u2019re dependent on such financial institutions, this poses a threat or risk.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, let\u2019s say the greedy sharks who run the bank love cookies and hate cupcakes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So the bank, not being a fan of cupcakes, may abuse its power and decide to block Molly\u2019s transaction.&nbsp;<strong>The bank will not allow any transactions related to cupcakes!<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Say what?! Heartless I tell you!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Or the bank may charge extra fees for non-local transactions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Or even worse, the bank sees unicorns as evil, along with anybody who does business with unicorns as automatically evil also.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So even though Molly is a mermaid, she\u2019s seen as \u201cevil\u201d because she\u2019s trying to buy cupcakes from a unicorn!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a result, the bank may freeze Molly\u2019s account and now Molly can\u2019t even access her money. Molly the Mermaid is locked out!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The bank is holding Molly\u2019s money hostage. The bank is the single entity in control of all of her money. Since there is a single entity in charge, this is considered&nbsp;<strong>centralized<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cCentralized\u201d means one point or source of control.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Molly just wants her cupcake and is frustrated.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIf I were able to use cash, I wouldn\u2019t have to go through my bank! Gosh, darn it! This sucks!\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI wish a digital form of cash existed.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThat I\u2019m in&nbsp;<strong>total control<\/strong>&nbsp;of.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI want to be able to use this digital form of cash just like the cold hard cash in my tail where I can spend it however I want with whoever I want&nbsp;<strong>without needing the approval of any person, company, or institution<\/strong>.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So Molly basically wants two big things:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Digital money that can be used online like\u00a0<strong>efectivo<\/strong>\u2026.<\/li>\n\n\n\n<li>That is\u00a0<strong>descentralizado<\/strong>.<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">Decentralization is the exact opposite of centralization. With decentralization, there is not one single entity in charge.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">Decentralized is where control and decision-making is shared among participants.<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">In terms of money, \u201c<strong>decentralization<\/strong>\u201d means that you don\u2019t have to go through an intermediary like a bank or other financial institution.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This would give you&nbsp;<strong>the freedom<\/strong>&nbsp;to spend digital money any way you please without the risk of your transactions being blocked or your money being frozen or taken away from you.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Molly wants&nbsp;<strong>decentralized digital cash<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But this is actually extremely difficult to accomplish!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s learn why\u2026<\/p>","protected":false},"excerpt":{"rendered":"<p>Depending on who you ask, the word \u201cBitcoin\u201d can have many different definitions. And as some start explaining what Bitcoin is, that\u2019s when you\u2019ll typically start hearing tech jargon spewed out. Words like \u201cblockchain\u201d and \u201cprotocol\u201d.And phrases like \u201cpeer-to-peer networks\u201d and \u201cdistributed ledgers\u201d. . Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,12],"tags":[],"class_list":["post-2754","post","type-post","status-publish","format-standard","hentry","category-beginners-guide-to-bitcoin","category-learn-crypto"],"_links":{"self":[{"href":"https:\/\/apex-aiexperts.com\/es\/wp-json\/wp\/v2\/posts\/2754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/apex-aiexperts.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/apex-aiexperts.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/apex-aiexperts.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/apex-aiexperts.com\/es\/wp-json\/wp\/v2\/comments?post=2754"}],"version-history":[{"count":1,"href":"https:\/\/apex-aiexperts.com\/es\/wp-json\/wp\/v2\/posts\/2754\/revisions"}],"predecessor-version":[{"id":2755,"href":"https:\/\/apex-aiexperts.com\/es\/wp-json\/wp\/v2\/posts\/2754\/revisions\/2755"}],"wp:attachment":[{"href":"https:\/\/apex-aiexperts.com\/es\/wp-json\/wp\/v2\/media?parent=2754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/apex-aiexperts.com\/es\/wp-json\/wp\/v2\/categories?post=2754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/apex-aiexperts.com\/es\/wp-json\/wp\/v2\/tags?post=2754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}