Breaking Down Bitcoin (I): The Only Cryptocurrency True To Its Essence

Start writing...Bitcoin was the first cryptocurrency to be created, inspired by a document published in 2008 by a mysterious author under the pseudonym Satoshi Nakamoto. In this document, it described the operation of a peer-to-peer electronic money system, based on proof-of-work and distributed consensus. The goal: to create a currency that would be resistant to censorship, inflation and corruption.

Since then, many other cryptocurrencies have emerged that have attempted to mimic or improve on Bitcoin's design, offering features such as greater speed, lower energy consumption, greater privacy or greater functionality. However, none of these cryptocurrencies have managed to surpass Bitcoin in terms of adoption, security or valuation.

This is because Bitcoin has a number of advantages that make it unique and superior to the rest of the cryptocurrencies:

📌 It is the most decentralized cryptocurrency that exists, having the largest network of nodes and miners that validate transactions and protect the network from attacks.

📌 It is the most secure cryptocurrency in existence, having the most computational power dedicated to its maintenance and being the most resistant to arbitrary changes in its protocol.

📌 It is the scarcest cryptocurrency in existence, having a fixed and unalterable supply that guarantees its value in the face of inflation and monetary manipulation.

📌 Bitcoin is the most neutral cryptocurrency in existence, as it is not controlled or influenced by any individual, group or entity that can impose its interests or agendas.

📌 It is based on blockchain technology, a decentralized network that allows value transactions without intermediaries or centralized authorities.

📌 It has a limited supply of 21 million units, giving it a digital scarcity that makes it attractive as a potential store of value and medium of exchange.

Bitcoin is the currency of freedom and security because it remains true to its essence, to its original purpose: to be a free, independent and sovereign electronic money.

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⚜ Books & Other Tools - Some things you may find interesting.

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