Bitcoin was the first cryptocurrency ever invented, and the one that stemmed the current digital currency revolution. Its uniqueness lies in the fact that is the first decentralized currency, means that no one controls its distribution and that there’s no central bank, government or company behind it.On top of that, it is a fully digital currency, meaning that it has no physical form and that it exists only in computerized addresses throughout the web.
Bitcoin was invented in 2008 by Satoshi Nakamoto during the global economic crisis.Base on encrypted technology ,it was a coin distributed the internet using peer to peer platforms
Between 2008 and 2010,the Bitcoin was vastly improved by many anonymous online communities since it was an open source project.
Eventually,its constant evolution substantially increased his value ,peaking at up to 20,000$ on December 2017.
The Bitcoin was created to find a solution to the so-called Debt Economy.
This era in which we are living, has been characterized by the assumption that a government or a bank must stand behind any currency,even without linkage to a physical assests(such as Gold)
However,this mechanism,A.K.A."centralization", was deeply flawed,and created inflation over time,eroding the value of the currencies and forcing many families into poverty.
A digital decentralized currency was proposed as an alternative to allow everyone to have control on money they own once again.
total amount of Btcoin is fixed i.e 21 million, meaning that once that amount has been mined, no one could produce any more of them.
the more they are mined,the harder it will get through minning and price go exponentially.
Thanks to Blockchian technology,Bitcoin are transferred at a much higher speed than traditional currencies,and since no bank stand behind them,the commission fee pay on each transaction are greatly reduced.
Thast cool. upvoted
thank you @cgastra
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