Many myths persist about Bitcoin. One of the most widely believed, yet deeply mistaken, being the idea that Bitcoin is “only-used-for-buying-things-that-are-illegal.” Because it’s anonymous. The fact of the matter, however, is that Bitcoin isn’t actually anonymous at all. The movement of individual coins can be precisely traced.
Bitcoin is approaching new all-time-highs and, within the next month or so, is set to surpass the record seen during the last frenzy of 2017. This will mark the early stages of the impending 2021 frenzy. But, if you’re asking yourself whether you should invest in Bitcoin or not, and whether you should invest now or later, you’re asking yourself the wrong questions.
If you’ve heard about Bitcoin and you’re only somewhat familiar with it, chances are you’ve heard all about all the scams that are associated with Bitcoin. And if this is all you’ve heard about Bitcoin, then chances are you think Bitcoin itself is a scam. But this couldn’t be further from the truth.
The development of CBDCs is interesting because Bitcoin was designed to improve upon state issued fiat currencies and the sudden emergence of CBDCs show that central banks realize this.
Bitcoin is the democratization of money because for the first in the modern era, there is an alternative form of money available.
When first wrapping your head around the idea that Bitcoin is money, but that it’s effectively stored entirely on personal computer hardrives, it’s important to understand that, for the first time ever, we have a system of digital information wherein all the information is verifiably unique. Simply put, a unit of Bitcoin that is used […]
Bitcoin is decentralized. No single entity can control it. It is a truly global, friction-less and permission-less payment system with a very low barrier to entry. Anyone with a basic internet connected device can store, receive and send unlimited amounts of value anywhere in the world.
Individual Bitcoins (or multiples and fractions of a Bitcoin) are in fact tiny computer programs recorded on an open ledger and controlled by private cryptographic keys.
Bitcoin is different because there is more certainty than there is with anything else. That being said, there are off course no guarantees. Life itself is uncertain. But what the creator(s) of Bitcoin did was to to take as much uncertainty out of the monetary equation as possible.
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