A cryptocurrency is a financial asset secured with cryptological techniques, having the characteristics of money, i.e. a means of storing value and a means of payment.

In today's world, cryptocurrencies are decentralized, private, and their popularity, and hence value, depends on the degree and universality of recognizing them as a carrier of value.

All currencies, since the dawn of time, have a contractual value, ranging from those introduced by the Phoenicians, to those introduced today, state-owned, such as the Polish zloty.

States and their citizens have made an appointment for fiat currencies, such as PLN or USD.

The term fiduciary means trusted. It sounds regrettable today with the continuous, long-term depreciation of their real value as a result of the actions of state administrations in consultation with banks, bond issuers and stock exchanges.

A more detailed discussion of the world's financial system is contained in the article entitled Money and the financial system of the world. I invite you to read it.

Returning to the comparison of cryptocurrencies and fiat money and the growing interest in digital, decentralized currencies, the above paragraph has already properly explained the genesis of the declining interest in public money and the growing cryptocurrencies - this is the diminishing trust in traditional money, government institutions, banks and ways of storing value, and also for traditional forms of earning and investing.

Those who say that Bitcoin has no real value in it are right. But of course, just like there is no dollar or zloty. Bitcoin is a contract value, i.e. what people want to pay for it. Today, there are about 172 million active Bitcoin portfolios on the globe, and the so-called capitalization, i.e. the value of all cryptocurrencies on the global market, is 2 trillion dollars and already accounts for 20% of the world's gold volume.

In Poland, already in 2018, the number of cryptocurrency holders was estimated at 600,000 (W.P. 2018, statement by Robert Wojciechowski, president of the Blockchain and New Technologies Chamber of Commerce).

In summary, a cryptocurrency is a digital asset for storing value with the right to be exchanged for other currencies, services or goods.

However, there are many detailed features that distinguish these assets from each other. Let's diagnose them and compare them with our cryptocurrency - IBBcoin.

Here I will describe only those that, in my opinion, positively distinguish our cryptocurrency.

I must admit, however, that other assets also have many beneficial features, such as global reach, universal recognition or huge capitalizations today.

However, this will be discussed in another article.

 

1. The formation of cryptocurrencies, their issue

The global standard, i.e. Bitcoin, is created thanks to miners and is excavated as a result of their knowledge, work, technology, equipment involved, and in increasingly difficult conditions and with a decreasing, extractable quantity. This principle was introduced by the creator, the legendary Nakamoto Satoshi, to bring the Bitcoin function closer to another, model value carrier, i.e. to gold. Gold also needs to be excavated, hard work to extract it, and its deposits are limited and declining.

These features of Bitcoin, similar to gold, are to ensure that it maintains its value in accordance with the principle that something that is unavailable and desirable increases in value, and that something that is common and generally available decreases in value.

Giving Bitcoin the characteristics of gold is an undoubted achievement of this, the first in the world, cryptocurrency.

Unfortunately, there is also a serious drawback here, i.e. with regard to Bitcoin emission, because it is created as a result of unnecessary work, rapidly growing and necessary computing power of computers consuming ever larger amounts of energy that is difficult to obtain, and only because it is difficult to excavate them. No wonder some people call the job of mining Bitcoin a shitwork.

And here is the first difference between the global cryptocurrency benchmark and our IBBcoin. Our digital currency is also mined, it is also limited and the amount to be extracted decreases over time, which is to ensure its increase in value over time, but it is created thanks to effective and socially useful work.

As we define it, IBBcoin has a large parity of useful work - the most noble component of every value.

IBBcoins are generated under a certain smart contract an IT algorithm for the purchase of building materials in one of the largest, so to say, unlimited in terms of development, sector of any economy - the construction industry.

It is generated and issued as a result of the actually completed purchase transaction. Someone bought the material, someone transported it, and someone else built it up. It is development, it is progress, and IBBcoin reflects real value creation, so it is not a pure abstrac t it, and its deposits are limited and declining.

These features of Bitcoin, similar to gold, are to ensure that it maintains its value in accordance with the principle that something that is unavailable and desirable increases in value, and that something that is common and generally available decreases in value.

Giving Bitcoin the characteristics of gold is an undoubted achievement of this, the first in the world, cryptocurrency.

Unfortunately, there is also a serious drawback here, i.e. with regard to Bitcoin emission, because it is created as a result of unnecessary work, rapidly growing and necessary computing power of computers consuming ever larger amounts of energy that is difficult to obtain, and only because it is difficult to excavate them. No wonder some people call the job of mining Bitcoin a shitwork.

And here is the first difference between the global cryptocurrency benchmark and our IBBcoin. Our digital currency is also mined, it is also limited and the amount to be extracted decreases over time, which is to ensure its increase in value over time, but it is created thanks to effective and socially useful work.

As we define it, IBBcoin has a large parity of useful work - the most noble component of every value.

IBBcoins are generated under a certain smart contract an IT algorithm for the purchase of building materials in one of the largest, so to say, unlimited in terms of development, sector of any economy - the construction industry.

It is generated and issued as a result of the actually completed purchase transaction. Someone bought the material, someone transported it, and someone else built it up. It is development, it is progress, and IBBcoin reflects real value creation, so it is not a pure abstraction.

 

2. Use value of cryptocurrencies and speculation

The initial value of Bitcoin was close to zero. The fact that someone put unnecessary work into it was completely irrelevant, and even today this element is of little importance in the value of Bitcoin from the point of view of usability, the parity of useful work. It must be admitted, however, that today work has become an important, difficult and necessary element of mining this cryptocurrency, while still socially useless, of course, apart from contributing to the closing of information blocks and the issuance of the desired currency.

Here you can again find a similarity to gold, which in itself has no value - we will not fill it or drink it, and in addition, if space mining develops and we import an unlimited amount of it to Earth, it will lose its value and it will be so much worth what other commonly available metals are.

The value in use of Bitcoin, however, is growing every year. This is because there are more and more people and companies and even countries that recognize it, acquire it and market it or plan to market it.

Bitcoin transactions are already carried out by Mastercard, Visa or PayPal. The first country has already appeared - El Salvador, which has allowed this cryptocurrency to be traded as an official means of payment.

The utility of Bitcoin and the increase in its utility value parity is very important, but today it is only a small fraction of its total market value. The majority of its value is an element of speculation, that is, the component that depends on the degree of desire. A huge number of wallets, exchanges trading this currency and its value, so far increasing over time, cause continuous and growing interest, growing desire to own and get rich on it.

On the one hand, we have a huge desire to own Bitcoin, and on the other hand, there is uncertainty about its value, fear, and equally huge criticism of this asset, and also other competing cryptocurrencies, called altcoins.

This fluctuation in sentiment around highly abstract assets causes frequent changes and fluctuations in their quotation. The exchanges where they are exchanged are constant battlefields.

 

The ability to earn both on increases and decreases means that large capitals often control rates as they see fit. There is only one rule here - there must be people, a lot of people, who will lose out.

Convincing investors to the formula that cryptocurrency trading is risky and legal encapsulation of this rule means that the loss of 10-50% of capital is treated almost as a norm, and another, instilled rule of investment diversification, is to give hope and compensate for pain and grief, transfer blame on the investor.

After all, only the financial surplus was to be invested, which would have a chance to earn, but could also be utilized. The thrill of emotions, gambling, bought moments of dreams about wealth were worth it for many, or maybe they have to see it this way so as not to go crazy.

The proportion of use value, parity of useful work in Bitcoin compared to our IBBcoin is another huge difference.

IBBcoin, like Bitcoin, is generated as a salary, a commission for the work done, just like for miners, but for socially useful work.

It is strictly defined and accounts for 2% of the turnover on the sale of building materials, which means that the value of IBBcoin will not fall below the guaranteed value of PLN 1,000 in Poland and £200.00 in the UK. This is how much IBB will pay for it, at every request. At this point, however, we must add that we have also given our cryptocurrency a growing speculative value. About it below.

 

3. Security.

Bitcoin is not backed by any parity, including gold or any currency. Therefore, its value may fluctuate strongly and in the worst case scenario it may even drop to zero.

It is enough for the governments of countries opposing decentralized cryptocurrencies to collude to outlaw it and prohibit its conversion to fiat currencies and its value will drop.

Another threat is armed conflicts on a larger scale, where various forms of abstraction, including digital currencies, cease to count and begin to increase in values of temporal goods, i.e. food, clothing and services essential for survival. The abstraction then depreciates, as does the gold in the desert.

Collateral in IBBcoin is carried out in fiat, i.e. the Polish zloty.

2% of each transaction to the bank account due to a completed trade transaction is transferred to the sub-account and accumulated.

In this simple way the commission value corresponding to the amount of the issued cryptocurrency IBBcoin is place on the accont.

The nominal value of IBBcoin, amounting to PLN 1,000 or £200.00 in the UK, is thus secured for each exchange order into PLN or GBP.

 

4. Low level of the investment threshold.

During the so-called take-off, i.e. the stage of implementation of the Bitcoin project, had a negligibly low purchase price, but also a low growth rate and thus also a low earnings rate. There is no need, however, in our considerations to fragment - let's call the saved amounts of financial surpluses at the level of several dozen or several hundred zlotys just savings, not investments. Today, investing in Bitcoin can make long-term sense with the involvement of many thousands of zlotys.

Our minimum investment threshold in the IBB asset is PLN 1000 net in Poland or £200.00 in the UK. It is not an investment fundraiser and is associated with the PRO365 subscription, which gives many benefits to people and builders.

Let me remind you that the PRO365 subscription generates the IBBgold asset, which allows you to earn in the IBBcoin cryptocurrency due to effective recommendation and trading in the mass of goods on the huge construction market.

 

5. Stable earnings or gambling.

The attractiveness of Bitcoin and many other cryptocurrencies is based on a widespread desire to get rich. This is already opium for the masses. The desire to get rich is understandable and noble, but not when we leave control over this process to chance, luck, exchanges, brokers in other words.

This is pure gamble.

We are no match for Bitcoin in gambling. With us, at most, there can be a thrill if and when and how much we earn, because the purchase transactions of our own purchasing group or many of our own purchasing groups will not be predictable, they will be carried out on an ongoing basis.

In the generally applicable opinion about the so-called investing in cryptocurrencies is dominated by the belief in the effectiveness of portfolio diversification and a certain, guaranteed return on investment and earnings in the long run. Not true or not true!

If we were to rely only on the history of cryptocurrencies to date, and the increase in their value over time, we would have to agree with this. There is only one fundamental fact - it is a universal, worldwide pumping and it has been a balloon of abstraction and speculation for many years, multiplication of left money, creating a huge circulation of pseudo-money ie bonds and trading these blanks on stock exchanges.

How long will real business, production of wanted goods, and real, useful services lift this balloon? You can probably blow it for many more years, and the money added in huge amounts and at a cosmic pace will give illusory hopes for increases - unfortunately only nominal.

Cryptocurrency investors performances regarding earnings on currency trading are real for today, but as perishable as gas, called speculation, including an inflatable balloon.

Many people will also earn from this practice, but in order for them to earn, others must lose.

If the left money, the one from overprint or created with bonds for bonds, floods the market in the amount of, say, 10%, then, by convention, the nominal value of each asset measured in this money will increase by 10%.

Only an increase in production or services provided, as well as an improvement in their quality, have a real impact on the growth.

How are thousands of cryptocurrency miners, stock traders, brokers, and other shitworkers to increase in value?

If they provide financial resources to those working in the real business creating goods, then yes, but unfortunately for years the number of people willing to earn money in casinos called Exchanges instead of businesses that create reality has been growing for years.

The big reset will come, and it will be that the value of necessary and useful goods and services will increase and the value of abstraction will decrease to zero.

For example, wars are such a reset. Let them not happen.

Bitcoin will not provide stable current earnings, i.e. those that can be paid out on a monthly or quarterly basis.

Theoretically, using its ups and downs it could be possible, but in practice it cannot be assumed, it is too unpredictable and out of control.

We have eliminated this weakness in IBBcoin.

It is closely related to business, without intermediaries, banks, brokers, external exchanges, it also has work parity.

 

6. Transparency and control of crypto investments.

In Bitcoin, only the purchase, sale and payment transactions are transparent and available through the block explorer, which allows you to control block operations, but you will never know how the cryptocurrency generates income, because such a parameter does not exist. Nobody knows anything, including crypto scientists, financial and investment advisers. Great - is it an investment or a gamble?

IBBcoin is closely related to actual transactions in the construction sector. Each issue and withdrawal of IBBcoin reflects the transaction made. This process is transparent, controllable in the user account and mapped to the blockchain via block explorer.

 

7. Security of digital wallets.

In traditional cryptocurrencies, the private key to the wallet is lost or stolen from the owner of the coins. This is because there is no parallel plane reflecting and securing transactions on cryptocurrencies.

In our project, blockchain works in parallel with real-world transactions.

In the Bitcoin blockchain, customers are identified, but it is not possible to recreate their private key, in ours - knowing the address of the wallet, we can verify and guarantee access to it or block an attempt of unauthorized access.

 

8. Investment capacity and speculative parity.

Speculation has two faces. The first, unfortunately more common, is the thieving face of acting on asset declines and earning money at the expense of others. The world speculator George Soros is an example of this attitude. Devaluing money is acting to the detriment of others, but it must be admitted that, for example, Mr. Soros does not cause inflation, but only exposes it and uses this fact to his advantage.

Bitcoin, thanks to the possibility of playing on exchanges, both for increases and decreases, allows for this negative speculation.

Our IBBcoin - no.

The second face of speculative earnings is positive and consists in the increase in value through desire, in other words due to its increasing value and demand. This is due to the investor's own will and willingness to pay a higher than nominal value for his investment capacity.

We named this attribute Power, which is the ability to increase value in relation to the nominal price.

We have given positive speculative value to our IBBcoin and IBBgold assets.

Each IBBgold is listed on our internal stock exchange. Everyone has a different story and a different earning power, but if they do, it can be attractive to financial investors. Each owner will be able to put such an asset up for sale and its price will depend on the level of interest of investors.

A detailed description of the Stock Exchange and the speculative earning mechanism can be found in the article "IBB Stock Exchange - an offer for financial investors" - I invite you.

 

 

9. Anonymity of the authors.

Personally, I do not consider the anonymity of the creator of Bitcoin, who hides behind the pseudonym Nakamoto Satoshi, an advantage. I like to know the people behind specific projects, get to know their features, way of thinking, etc. This, in my opinion, gives credibility to the projects.

In our company, the project is carried out by specific teams of cooperating companies and by specific people with specific experience and business achievements.

You will get to know them personally, for example as part of the series of webinars and podcasts on Youtube, concerning, among other things, blockchain technology.

You are getting to know me and my way of thinking right now.

 

10. Local, national character of IBBcoin.

I am generally critical of everything, of others, but also of myself. Criticism is the basis for making adjustments, for improvement, for development. Uncritical people have no reason to correct themselves, their attitudes and actions, because what for, because everything is ok.

So forgive me for the generally beating criticism in my statements.

And here is another such thread concerning our Polish attitudes.

We know how to praise others, foreign, Western and American. What a backwater this is!

Fellow financial investors or crypto-experts compete in praising other projects, and the more foreign or English something sounds, the better.

The discussion about Poland, if any, concerns at best the pathologies or directions in which one has to flee our country.

I hardly hear about patriotism, the will to do something for the country, for the community.

They are growing egoists who think they are at the center of the world, their financial world. They don't know how wrong they are, because they are usually too young to look back, they only look ahead.

Patriotism is a responsibility not only for oneself, but also for family, friends, community and future generations, for the country.

Sorry, but I have to say this - our ancestors once died for that.

There was a reason, from the dawn of mankind, the communities were managed by the elders - I think I belong to this group already.

Here I will limit myself only to the appeal - "I will not throw the land from where our family comes from".

Well, as a life defiance, I returned to Poland, and in fact, despite my twenty-year stay and running a business abroad, I never left the country. In the midst of a pandemic, I also launched a business in Poland to show that it is possible.

The IBB project is a business project, but also a pro-social one, addressed to all Poles, its purpose is not only to activate them, but above all to show the power of cooperation, give everyone and every corner of the country a chance to earn money, as well as optimize the economy.

And in addition, it is to help others understand blockchain technology and the function of decentralized money, to familiarize us with future technologies entering life as part of inevitable evolution.