(a silly poem about crypto and baked goods)
The Fed Ex, Cinnamon Roll
i don’t understand how this thing can fly,
and deliver love across the entire sky?
and when my old one stopped, i said good riddance,
but not before this new thing blew all my socks away,
but wait—a ship for my cinnamon bun!
if only you could all get along and sign,
then everything you love, we will be sure to bring.
oh, it’s like the crypto bakeries and Fed Ex,
who work so hard for my coin and make it run,
it’s so cool—let’s keep these blockchains growing,
but when will everything they make get sold, and bought?
About the Poem
This poem was inspired while doing research on crypto and eating a cinnamon roll. Sometimes I like to multi-task in mysterious ways. I had several questions about cryptocurrency (mostly BitCoin) and I decided to do some basic research. I never like to research on an empty stomach, of course.
Curious about my research? Read on, friend.
How cryptocurrency works
The cryptocurrencies such as Bitcoins work the same way the paper money or the gold do. When you want to send someone Bitcoins, you simply write on the transaction a special number or code called an address and that code is saved to a central server, which stores everyone’s balance. Your computer then adds up the total of all Bitcoins that you’ve received, and it sends a request to the network, which goes through the verification process and adds the new transaction to the existing number, and so everyone else sees this number is increasing in a small amount, and after a while, when it gets to be a particular number, they know you’ve reached that limit and they’ve seen that new transactions are always increasing your limit. This is how we have the value in Bitcoins that has taken a step closer to real-world use and we will also see many real-world examples for the currency, such as renting rooms and houses using Bitcoins as payment, because Bitcoins will be accepted just about everywhere.
How cryptocurrency will change the world
Cryptocurrencies, because they are decentralized, so the network is maintained by its participants; if people do not want to keep updating their servers they are not obliged to do so and will be free to use what they think is important;
Bitcoin uses blockchains for keeping and making secure the information within the network. This technology will be used in the future as well;
cryptocurrencies were introduced because some of the early financial systems like PayPal suffered from fraud and other problems, while the blockchain, or as the crypto enthusiasts say, the Bitcoin network will continue working even in case the system suffers from the loss of the participants in it. It also assures that there is a real-time system in place that allows transactions to happen faster;
Bitcoin works exactly like an international currency; there are countries and organizations that decide if it is a real currency or a fake one, but we’ll know this is real only once there are more uses for it outside the borders and that’s a problem because no other government has really given its full support and a country or country group that claims the digital currency as a local one and it does not accept others as well will make sure the economy will suffer badly, while no one wants this to happen and eventually there’ll be enough support to make it legitimate.
Why is cryptocurrency is going down in value
A few reasons, really:
- Cryptography
- Advanced Accounting and the threat of inflationary monetary policies.
- Lack of sufficient user demand, or understanding.
- Regulatory uncertainty, as most jurisdictions still are trying to catch up to technology.
- Conspiracy theory surrounding some of the actors and early hucksters.
- Short supply and demand dynamics
- Possible Eternal Inflation: No one has found an adequate substitute to gold, nor the lack of demand is factored into prices.
Castillo's Poetry Corner 