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The announcer set the tone with infectious enthusiasm, elevating the already palpable excitement among crypto enthusiasts. Bitcoin, dubbed the "King of crypto land," laid claim to its legacy as the pioneering cryptocurrency that established the entire ecosystem. Known for its robust and secure blockchain, Bitcoin has earned a reputation as a "Store of Value," often referred to as "Digital Gold."
Bitcoin's limitations are highlighted—its 1 MB block size reduces its transaction capacity to just seven per second. This lack of scalability introduces challenges for everyday transactions, like purchasing a coffee, and has prompted debates on its effectiveness as a currency. Yet, advocates argue that Bitcoin’s longevity and security more than compensate for its slower processing speeds.