Ever Since the Satoshi Nakamoto Invented the First Peer to peer transaction system called bitcoin, the revolution of blockchain is began.
After the massive global financial crisis is happened in 2008, peoples are losing faith on the traditional system. Peoples want a system where we put trust and security. So the need for this is inhabitable. So today we are going to break down the top 3 reason for the value of Bitcoin.....
Replacement of Gold
For the Century peoples are putting store of value in gold. If you ask the question why gold is so valuable?..just because peoples believe in it. its is not that we don't need some kind of precious metal to store of value. Gold has some economical value like for economical balance. But gold has some problem like its not transferable, feasible. it has no intrinsic value. On the other hand bitcoin solves the problem.
A need for a strong Global network
In this digital age as we are evolving very rapidly with exponential rise of internet and connected devices, A strong global network is very much needed. Bitcoin is unhackable because unprecedented amount of hash power is protecting it which we can trust blindly.
As a Global Currency
Ever since the rise of internet, The world is looking a lot more small. everything is connected . But our financial system kind of stuck in old system. So bitcoin is solving that problem. Bitcoin has all the properties of a currency. Properties of a currency are SCARCITY, Fungibility, Divisibility, Durability, Transferability.
SCARCITY - Decentralised Crypto Digital Currency: rare. Only 21 million Bitcoins will ever exist.
FUNGIBILITY - Decentralised Crypto Digital Currency: fungible. All Bitcoins are interchangeable, there are 21 million
Bitcoins and they are all the same. Just strings of numbers. One string is exactly like any another
string.
DIVISIBILITY - Bitcoin, Decentralised Crypto Digital Currency: infinitely divisible. Every Bitcoin can be divided into
100,000 portions to what is called a Satoshi. But the Bitcoin protocol can be extended to enable
devision
for even smaller portions of Bticoins.
DURABILITY - Bitcoin, Decentralised Crypto Digital Currency: 100% of the Currency is digital and will survive as long
as
the network survives. The network itself is decentralised and therefore is very hard to be destroyed.
Very durable Currency.
TRANSFERABILITY - Bitcoin, Decentralised Crypto Digital Currency: easy to transfer. Every person with an access to the
internet can transfer Bitcoins.
all comments are welcome
great one bro
True
soooo true
nice
I support your view on Bitcoin.