Introduction

Bitcoin and the digital Ledger are changing the world.

• The invention of Bitcoin meant we could quickly transfer money across the world without trust.
• This simple fact is changing the world.
• It is a simple solution to a complex problem.
• And the beauty of this simple statement is that you can remove Bitcoin and insert HIve.

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Body

First, I want to explain why digital ledger technology is changing the world. Please focus on three things:

First, Money is physical.

• So it can't travel in the virtual or non-physical world of the internet.
• Because of this fact, any physical money transfer system, which uses the internet relies on trust.

Second, cryptocurrencies like Bitcoin are not physical, they are virtual.

• So Bitcoin and Hive, being cryptocurrencies, can actually travel on the internet.

Third, because cryptocurrencies like Bitcoin travel on the internet, they achieve immediate settlement, so they don't need TRUST.

• Bitcoin, HIve and other cryptocurrencies are not physical currencies, they are virtual.
• Because they are a virtual money, they can travel over the internet settle debts immediately. So you don't need TRUST.

Brief Comparison: Compare the Digital Ledger Money Transfer System versus the Traditional Finance Money Transfer System.

First Concept

• We must understand that the Traditional Finance Money Transfer System can't actually transfer money over the internet.
• The system can't do it because money is a physical thing, and you can't send physical things over the internet.
• So in reality the current Traditional Money Transfer System sends a message, which is a promise to pay.
• The objective proof of this statement is the Settlement Period.

Settlement Period.

• The Traditional Money Transfer system has a settlement period, which is the period of time two parties wait for the Actual Money Transfer to Occur, after the Original Money Transfer message or Promise to Pay.
• This takes from 2 days to 30 days.
• Two to thirty Days for the actual Money Transfer to happen, after the Original Money Transfer message happened.

Delayed Settlement

• This is actually called delayed settlement because it takes time: 2 to 30 days, for the actual TRANSFER of money, to catch up with the Promise to Transfer Money.

Second Concept

• When we send cryptocurrency tokens like Bitcoin or Hive, over a Digital Ledger like we are not sending a PROMISE to pay MONEY, we are sending MONEY.
• We know this is true, because when you get the message that someone sent you cryptocurrency, you also get the cryptocurrency.
• This is called Immediate Settlement
• The objective proof that Bitcoin or Hive are sent on a Real Money Transfer System, is that they have Immediate Settlement.
• This is because with Digital Ledger Technology, the message is the money, and the money is the message.

Let me make this crystal clear.

• If I want to pay you ten Hive for a nice cold Coca Cola, I can send you ten using a QR code and you hand me the soda.
• The transfer of money is not delayed, it is immediate.
• So the settlement of my debt to you is immediate, and this is a True Money Transfer. System

Concept Number Three

• The Traditional Financial System is dependent of TRUST because the Money Transfer System doesn't transfer physical money, that is impossible. So it sends promises and receives promises.
• So the two parties conducting business must know and trust each other that promises today will be followed by money in 2-30 days.
• If they don't know and trust each other, somebody else has to be the middleman, someone they both TRUST, who guarantees that promises made today, will be followed by money in 2-30 days.
• These TRUST conditions are required for a country to have access to Global Money Transfer Systems, like SWIFT for U.S. Dollars and EUROTRANSFER for EUROS.
• This allows MONEY to flow freely between these TRUSTED entities.
• This flow of money allows the countries in this system to flourish economically, and for their people to prosper.
• But those countries who can't join these systems can't prosper, and their people live in poverty.

• Bitcoin Fixed This !!

• Digital Ledger Money Transfer Systems send MONEY, not PROMISES to PAY MONEY LATER.
• Digital Ledger Systems don't require TRUST between Two Parties.
• Digital Ledger Systems don't require a TRUSTED Middleman.
• Digital Ledger Systems are open to all countries.
• So money can flow freely, countries can prosper, and poverty can be overcome.

Last Words

• Pause to contemplate this simple truth about the Traditional Money Transfer System and the simplicity of the solution The Digital Ledger Money Transfer System.
• The Traditional Money Transfer System depends on TRUST, so if there is no TRUST, there is No Money, and No Money equals No Prosperity, and no prosperity equals Poverty.
• The Digital Ledger Transfer System doesn't depend on TRUST, so there can be MONEY flows and there can be PROSPERITY.
• Bitcoin, the world's best known Virtual Money, fixes this, problem and makes the prosperity of countries excluded from traditional money transfer systems.
• Hive, a less known virtual money, fixes this problem.
• The problem is that complicated, and the solution is that simple.

The End.

#Thank #You #For #Reading #My #Post

This post was written by @shortsegments

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#theycallmedan @theycallmedan

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