The author recalls their experience investing in Bitcoin in November 2017 during the bull run, after which they became convinced that Bitcoin is the most reliable form of money invented by humanity. Despite its proven technological foundation, the widespread adoption of cryptocurrency remains slow.
Humanity has historically used various forms of money, such as shells, salt, cattle, and glass beads, but all were displaced due to the possibility of cheaper production, leading to the loss of savings for holders of old money. As Robert Bridle states, quality money must possess the following characteristics: divisibility, durability, portability, recognizability, and, most importantly, scarcity. Gold dominated for millennia due to its exceptional rarity, which cannot simply be produced or printed.
Bitcoin surpasses these criteria: it is divisible into hundred-millionths, has no weight, can be transferred across the planet in minutes, and, critically, its issuance is limited to 21 million units by code that has been functioning for 17 years. The network has demonstrated operational stability with a level above 99.98% (excluding the initial Value Overflow incident and the chain fork in 2013), and its core consensus rules have withstood attacks for over 15 years. Unlike gold, whose supply increases annually by 1–2% due to mining, Bitcoin's issuance schedule is fixed until the last coin is mined around 2140, making it the first currency in history with ideal scarcity.
Furthermore, no company can create the 'best Bitcoin,' because money operates on a 'winner takes all' network effect principle, and trust in Bitcoin is based on a fair, founder-less launch that cannot be replicated; any coin with an issuer requires trust in that party.
When comparing Bitcoin's ideal scarcity with money in a bank account, it becomes clear that in August 1971, US President Richard Nixon ended the dollar's link to gold. Since then, the entire world has operated on government money not backed by assets, and this experiment has lasted 55 years. The results of this experiment are visible everywhere: since 1971, the dollar has lost about 86% of its purchasing power, while the US money supply M2 has grown from approximately $630 billion to over $22 trillion. The situation with randomness is even worse. The pandemic demonstrated the consequences of active money printing: in 2020, the US money supply increased by 19%, and in 2021, by another 16%, significantly exceeding the average annual rate of 6% over the previous two decades, as about $6.4 trillion in new money was injected into the economy.
The subsequent surge in inflation is not accidental but is a consequence of the financial system's design. Central banks may argue that moderate inflation is an advantage, stimulating spending and giving policymakers the ability to fight recessions. However, the price of this flexibility falls on the shoulders of everyone who saves in this money, i.e., the majority of the world's population, whose funds are constantly being devalued.
Nevertheless, the adoption process is underway. The US created a strategic Bitcoin reserve in 2025, holding about 200,000 confiscated coins. Bhutan converted its reserves into a treasury worth over a billion dollars, El Salvador retains its assets, and Brazil and Kazakhstan are discussing creating their own reserves. Wall Street entered through spot ETFs—the most successful ETF launch in history, attracting $107 billion in the first year. BlackRock’s iShares Bitcoin Trust became the fastest ETF to reach $80 billion in assets, doing so in 374 days, compared to the previous record holder, SPDR gold ETF, which took 1,691 days. These funds collectively hold over 1.2 million Bitcoins, accounting for nearly 6% of the total supply, and asset storage giants like BNY Mellon and State Street have developed platforms for digital assets.
Despite this, ordinary people remain in the minority. Estimates of Bitcoin ownership vary widely: blockchain analysis indicates about 106 million holders, while 2025 surveys counted about 365 million, including indirect participation through ETFs and fintech applications. With a global population of 8.2 billion, this represents between 1.3% and 4.5%. Most governments do not own Bitcoin at all, which causes a feeling of extreme slowness among enthusiasts.
The question of speed was posed by Farzam Eshani, co-founder and CEO of the crypto exchange VALR, who previously headed blockchain initiatives at Rand Merchant Bank and saw the situation from both sides. He noted that behavioral and societal changes seem slow in the process, but in retrospect, it becomes clear how quickly everything changed. Eshani emphasized that Bitcoin is only 17 years old, which is not considered adulthood in human terms, yet it has transformed from an unknown concept and technology into a multi-trillion-dollar asset class owned by the largest asset managers, institutions, and even central banks.
He confirmed that this year the Czech National Bank acquired Bitcoin for a test portfolio of $1 million, marking the first instance of Bitcoin appearing on a central bank's balance sheet in the EU. Eshani acknowledged that prices have dropped by about 50% from peaks, and Bitcoin trades around $65,000 at the time of writing, compared to a historical high of about $126,000 in October 2025. Nevertheless, he believes that Bitcoin's attractive characteristics—digital scarcity, decentralization, censorship resistance, and native nature on the internet—have remained and strengthened.
In Eshani's view, financial history has repeatedly shown that money changes its form and nature, and civilization evolves. Humanity is currently experiencing one such evolutionary period, transitioning from money belonging to citizens of a specific nation to money belonging to the whole world. He also added that today's young crypto enthusiasts will become future members of the boards of major institutions, and along with the change in leaders, the views and priorities of these organizations will change.
Existing barriers remain significant. The traditional system is not neutral: the dollar grants enormous privileges to the US, and entire industries—banking, payments, government borrowing—are built on the ability to arbitrarily expand credit. No one voluntarily dismantles their privileges. Regulators act slowly, and rules for institutional custody and accounting required many years to clarify, and volatility still frightens treasurers. Furthermore, energy consumption in Bitcoin mining remains a subject of debate.
The newest threat is quantum computing. Google Quantum AI researcher Craig Giddins showed last year that hacking modern encryption might require 20 times fewer quantum resources than previously assumed. In a subsequent paper in March, jointly with Dan Bonhom from Stanford, it was estimated that elliptic curve cryptography protecting Bitcoin signatures could be compromised by a machine with fewer than 500,000 physical qubits. Although such a machine does not yet exist (the largest processors today have several thousand qubits), Google set a goal of migrating to post-quantum protection by 2029, and the timeline is shortening.
Bitcoin developers are actively working on this. In February, the specification BIP-360, defining a quantum-resistant address type, was integrated into the official Bitcoin repository, and a related proposal by security veteran Jameson Lopp describes a phased transition from vulnerable addresses. Neither has been activated on the network yet, as it requires community consensus and a soft fork. The race is on to achieve this consensus and implement it before a cryptographically significant quantum computer appears, and there are trillions of dollars in incentives for this.
Perhaps Eshani is right: adoption happens quickly if measured in centuries, which is what gold required, and Bitcoin users just need more patience. However, watching how currency devaluation affects the lives of ordinary people who can buy less every year, patience is wearing thin.
This is particularly noticeable in Africa, where the volume of crypto transactions on the network grew by 52% to over $205 billion before June 2025, largely thanks to Nigerians seeking to escape the depreciating Naira. Venezuela demonstrates an extreme example: amid the collapse of the bolivar and inflation approaching 270%, almost 40% of peer-to-peer transactions are conducted in cryptocurrency. Most of these are dollar-pegged stablecoins, not Bitcoin itself, likely because they seem more familiar. But here the same lesson emerges: when money collapses, people run to the 'hardest' currency they can find. Ordinary people do not wait for permission; they are already gradually abandoning the old system.
As the saying goes, do your own research. The author did not meet anyone who deeply studied Bitcoin and remained doubtful (with the exception of Nassim Taleb, whose main objection applies equally to fiat money in a wallet). Economist Saifedean Ammous wrote an entire book, 'The Bitcoin Standard,' based on the lesson that when monetary systems clash, the hardest currency wins. Seventeen years later, this lesson remains true.
The eighteenth International Exhibition of Doors, Windows and Related Industries opened on Tuesday, July 21, at the Permanent International Exhibition grounds in Tehran. The event showcased the latest achievements of 61 domestic and foreign companies.
According to IRNA, 54 domestic companies and seven foreign companies participated in the exhibition. Among the foreign participants were representatives from China, Turkey, Spain, South Korea, and Germany. These companies demonstrated their newest products, equipment, and technologies across various segments of the door and window industry, as well as in related fields.
The exhibition serves as a platform for fostering a healthy competitive environment among local manufacturers with the aim of improving product quality. It also allows for direct contact between producers and consumers to gain a deeper understanding of market needs. Furthermore, the event promotes the exchange of ideas, technologies, and products among participants from different countries, strengthens business ties, expands commercial cooperation, facilitates the exchange of technical knowledge, demonstrates the potential of local producers, transfers experience and technology, and creates new opportunities for commercial interaction in the door and window sector.
The exhibition will last four days at the Permanent International Exhibition in Tehran. In addition to professionals from the construction industry, such as engineers, architects, mass developers, and specialists in related fields, the general public can also be visitors.
As part of the significant development of bilateral economic relations, leaders from the Tehran Chamber of Commerce and the International Chamber of Commerce of Khorgos met in the Iranian capital to outline a detailed executive roadmap for expanding trade.
These high-level negotiations concluded with the official opening of the Khorgos representation at the Tehran Chamber of Commerce, marking an important transition toward institutionalized interaction. These efforts aim to utilize the strategic land port of Khorgos, located on the border of China and Kazakhstan and functioning as a key Eurasian hub, to diversify Iran's trade routes and reduce dependence on traditional southern sea routes, especially against the backdrop of recent geopolitical tensions.
During the joint meeting, Mahmoud Najafi-Arab, head of the Tehran Chamber, and Ma Fumin, head of the International Chamber of Commerce of Khorgos, emphasized the urgent need for common mechanisms for logistics, export development, and market intelligence gathering. Najafi-Arab stressed the necessity of revising trade corridors, specifically shifting focus to the North-South corridor and the Khorgos land port to counteract disruptions in regular maritime access. He insisted that cooperation must go beyond general agreements, requiring actionable plans with clear division of responsibilities and strict deadlines.
Key operational proposals included establishing a joint export management company, setting up a permanent Iranian exhibition center in Khorgos to showcase domestic products, and launching a shared digital platform for exchanging accurate and up-to-date market data. Najafi-Arab also noted substantial opportunities for Iranian businesses in the post-war recovery phase, particularly in infrastructure, modern warehousing, renewable energy, and export-oriented agriculture. Addressing concerns from private sector stakeholders, he assured that the Chamber is actively working to eliminate logistical bottlenecks, reduce transit costs, and simplify administrative barriers.
Furthermore, both sides agreed on the exchange of permanent representations. Following the immediate launch of the Khorgos office within the Tehran Chamber premises, a representative from the Tehran Chamber will soon be dispatched to Khorgos. This mutual presence is intended to ensure rapid coordination, real-time tracking of market trends, and direct resolution of trade disputes, transforming sporadic trade contacts into continuous, organized economic partnership. During discussions, the creation of a joint committee to prioritize and implement these agreements was also officially proposed.
A special session organized by the Federation of Iranian Transport and Logistics thoroughly examined the operational difficulties associated with cargo transit through Khorgos. Members of the Federation described current problems: rail transport suffers from severe capacity limitations, prolonged container delays at border points, and complex customs bureaucracy for mixed cargo. In the road transport sector, difficulties include an acute shortage of trucks, the absence of a unified coordinating structure for Iranian companies, sharp increases in freight rates, and systemic delays in issuing visas for drivers crossing the border. Participants strongly called for the formation of a joint working group involving customs authorities, road service organizations, and private logistics firms to systematically address these obstacles.
In response, Ma Fumin presented a pragmatic assessment of the transport situation. Acknowledging the growth of rail transport through Khorgos in recent years, he stated directly that road transport currently offers higher speed and efficiency for Iranian traders, making it a more suitable option under current conditions. He expressed confidence that the logistics system would improve through the implementation of recently signed memorandums of understanding, and that railway capacity could be expanded once infrastructure constraints are resolved.
Ma Fumin's parallel meeting with Farial Mostofi, Vice President of the Tehran Chamber, focused on overarching strategic goals. Mostofi emphasized that sustainable trade requires a balance between imports and exports, calling for Iranian industrial and agricultural products—especially pistachios and other dried fruits—to have a more prominent presence in the Chinese market. The Chinese delegation, which included investors in machinery, auto parts, and renewable energy, expressed readiness for direct engagement. Discussions also covered the use of modern financial technologies, including correspondent banking mechanisms and the potential application of digital currencies to facilitate international settlements.
Concluding the high-level meetings, both chambers reaffirmed their commitment to maintaining expert-level dialogue, conducting trade missions, and identifying joint investment projects. The establishment of the representation and the development of the executive roadmap are viewed as the definitive first steps toward transforming the vast economic potential between Iran and China into tangible, mutually beneficial results for the private sectors of both countries.
Simple Energy is preparing to introduce a new scooter aimed at the mass market segment. The launch of this new vehicle is scheduled for September 2nd. It will directly compete with models such as TVS iQube, Ather Rizta, and Bajaj Chetak.
Unlike its previous product, the Simple One Electric Scooter, which emphasized performance, the new scooter will be oriented towards consumers who prefer a family format. The company plans to make this new product a family model.
The brand's latest development, Simple Ultra, focused on range, claiming a stated radius of 400 kilometers. The new scooter will be built on a new platform. It is expected to be equipped with a battery capacity of 3.7 kWh, similar to that in the Simple One-S, but with the possibility of customization to achieve better range.
Since the company will pay less attention to speed and performance, the main focus will be on increasing the driving range. According to reports, the claimed range of the new scooter is expected to be between 120 and 150 kilometers, making it a good choice for city rides and small family trips.
In terms of design, the company may move away from the sporty and aggressive look of the Simple One and focus on practicality. It is expected that the new scooter will feature improved internal storage under the seat, which is an important advantage for many buyers. It should be noted that the Simple One-S starts from 1.72 lakh rupees including all on-site expenses.
Based on Simple Energy's current product line, the price of the new scooter is estimated to be in the range of 1.30 to 1.50 lakh rupees, although the brand has not yet provided detailed information about the product.
