Demirors of Meltem, the Chief Strategy Officer at CoinShares, a digital asset management company, has argued that “as evidenced by the recent corruption of all US systems, from government to corporate, securing networks is very difficult to do on an ongoing basis.”
1 / as evidenced by the recent corruption of all US systems, from gov’t to corporate, it is very difficult to secure networks on a continuous basis.
Bitcoin is a global telecommunications network that secures financial information.
mining is what keeps it safe.
short thread! pic.twitter.com/zBa1mIX9VM
– Demirors Meltem (@Melt_Dem) December 18, 2020
Demirors claims that Bitcoin is now a global telecommunications network that can reliably secure financial information. As explained by a Rice University graduate, cryptocurrency mining is what keeps BTC “safe.”
Demirors believe that the dynamics of our world power are changing.
“The world’s largest and most powerful companies used to own, make, and finance inputs and physical objects …. No longer …. Behemoths today own, maintain and manage digital networks. And they are bigger than most states. ”
In 2009, for example, some of the largest businesses and organizations included Petro China, Exxon Mobil, China Mobile, HSBC, Walmart, and Shell (among others). Their combined market cap in 2009 was approximately $ 2.3 trillion.
Now, in 2020, tech giants like Microsoft, Amazon, Alphabet (Google’s parent company), Facebook, Visa, Alibaba Group, and Tencent (among others) have a market cap of $ 7.5 trillion. As explained in an image shared by Demirors, the world’s most powerful companies are intermediaries, as they control access to our “digital and financial lives.”
“In the coming decade, we will see a rapid proliferation of digital networks in the world of energy, computing and connectivity, and capital and finance markets … as a result, nations will spend trillions of dollars on securing their data and access to systems global and networks. ”
“Cyberspace is a brave new world…. As seen this week, the United States is fully prepared. … There is a great deal of value that is going to be held by private corporations and… individuals as this new world develops. and it’s IMPORTANT… .Bitcoin has entered the conversation. ”
“Bitcoin is multiple things – it’s protocol, network, and asset …. Bitcoin’s network has a security measure – the hash rate. and hash rate is associated with the asset. … As Bitcoin becomes more valuable, more computer resources are used to protect the network … most people don’t understand Bitcoin mining because they don’t understand Bitcoin’s value chain … most people only interact with Bitcoin by creating a transaction. through an intermediary. But the value chain acts that way … the value chain needs hardware, not just software. You need silicon and power to power the network, just like we do for any other form of computing or connectivity …. Historically investors have been ignoring Bitcoin infrastructure – they are think it’s exchanges. “
However, she believes that “smart” investors really understand that if BTC is a communication protocol, then companies will compete to gain access to the cryptocurrency network. That is, if you rely entirely or 100% on service providers, then your level of service and “sub-risk will reflect your service provider’s level,” Demirors explained.
He also mentioned that companies that require “high levels” of service and “high levels” of security (which are all Bitcoin-focused businesses) must use providers who really understand Bitcoin’s value chain and can manage or operate robust infrastructure.
He added that we must “not forget the vital role that innovation plays in the evolution of Bitcoin network economics.” She claims that technology innovation, business model innovation, and financial innovation are “rapidly changing the shape of the mining landscape and Bitcoin’s value chain.”
He pointed out that the world was “shaped by the US campaign to secure the oil value chain from 1970 to 2010”. Demirors explained that the petro-dollar is “a product of this.” He also mentioned that the military-industrial complex had “shaped it.” And “most importantly, financial markets were built around it.”
According to Demirors, this decade will be “shaped by the United States’ efforts to secure cyberspace, but ultimately.” He confirmed that billions of dollars have now been spent and believes that “trillions will be wasted.” She believes that Bitcoin, for people who want to secure their own future, presents a valid alternative.
“This is how it all plays out. Bitcoin is the most secure computer network in the world. Full stop. We are reshaping financial markets, but it does not stop there. Bitcoin will reshape cyberspace and the energy economy. Bitcoin started with a simple concept – the separation of money and the state. But to implement this effectively, we need to change the function of the state by extracting its hegemony through the engineering of a sovereign revolution. ”
“If you dismiss Bitcoin mining, you don’t understand how Bitcoin works. If you’re not trying to get your paws into as much of this Down-point index as you can, you’re missing the big picture. Your app may be worth billions of dollars, but without a Bitcoin network, it’s useless. By the end of this decade, Bitcoin’s value chain economics will reshape the world’s physical infrastructure and consequently its power structures – in every sense of the word power. I, for one, couldn’t wait. ”