Why is Bitcoin like a writing desk?

Why is Bitcoin like a writing desk?

Bitcoin (BTC) is like a writing desk because it has unlimited potential.

Let's start with: definitions.

Bitcoin - a digital value created via algorithm stored on a blockchain using a peer-to-peer network. The current network currently has global reach.

Value - the value is determined by the sellers/holders. Essentially, this is a supply and demand value system like everything else.

Peer to Peer - a transaction method without intermediary. No middle man required.

Let's continue with discussion...

In the global marketplace regional currencies can limit buying potential.

Due to cost risks such as: exchange commissions, counterfeit verification, service fees - that reduce the overall value. Merchants need an instant method to ensure the value is secure.

Because the world is using global peer-to-peer communications, it is looking for a global value transaction method.

Bitcoin is a method to transact and store a value in what is currently a global network.

A very short explanation of Bitcoin and why it exists.

Cryptocurrency Glossary

Extended terms index for the BTC writing desk above.

A - Algorithm: The process formula or set of rules to be followed in calculations used to mathematically solve the blockchain equation.

B - Blockchain: The decentralized, distributed ledger that records the transactions and value token creation.

C - Consensus: A method for all applicable parties to acknowledge and agree upon each transaction record to the blockchain distributed ledger.

C - Cryptocurrency: A digital payment method, normally in tokenized format, that can be used to buy goods and services using an online ledger to secure transactions.

D - Decentralized: A network primarily comprised of globally separated nodes.

E - Encryption: A method to obfuscate or encode a transaction to remain secure between two transactions.

F - FOMO: Fear Of Missing Out is an acronym for a personal emotion felt when the "boat-is-missed" or an opportunity passes without participation. Like watching your friend ride a rollercoaster.

G - Gold-backed: Currency or tokens that claim to be valued with physical gold held as collateral.

H - HODL: Also known as HOLD, is a meme term for "HOLD". Memes are often incorrectly spelled words examples.

I - Intermediary: Essentially "something" in between two parties within a peer-to-peer system.

J - Jabberwocky: An imaginary creature from a fictional story.**

K - Kart: A player vehicle used within Super Mario kart, with a preference to Mr. Toad.**

L - Ledger: An system that tracks each transaction on the blockchain. The ledger also tracks the value of all known wallets.

L - Limits: Specific values set by the equation used, such as buy, sell, or stop limit values within normal market trading.

M - Middle man: Also known as an intermediary is a step or process between two parties within a peer-to-peer network.

N - Node: A server, device, platform, or step within a transactional process.

O - Open Ledger: is a term used for a transparent or externally visible transactional system.

P - Peer to Peer: A transaction between two parties.

Q - Quorum: The least number of required nodes to validate a transaction on the blockchain ledger.

R - Risk: The chance or opportunity to not profit from the original investment or desired value.

S - Stable-coin: A digital currency that claims to have a method to keep the coin or token at a value within a small or stabilized margin.

T - Transaction: An action between two parties or individual nodes.

U - Universal: Also, known as multifunctional.

V - Value: An agreed upon method to determine the worth of a specific.

W - Wallet: A method to store cryptocurrency.

X - Xavier: Xavier, Professor Charles Francis sometimes enjoys reading minds.

Y - Young: The age best when paired with wild and free.**

Z - Zuckerman: The old man who has the swine named Wilbur.**

**some terms apply to a multiple glossary index