Bitcoin

Bitcoin is digital money; more specifically, it is a decentralized digital currency that allows secure and seamless transactions between peers

What makes Bitcoin Valuable?

  1. Bitcoin is supply-capped (21,000,000 BTC), making it a great "store of value".

  2. The Bitcoin blockchain network is decentralized, meaning no one owns or controls it and that peer-to-peer transactions can take place without middle-men.

  3. Bitcoin undergoes "the halvening" every four years, which cuts mining rewards by half and this results in a doubling of its price.

Other facts about Bitcoin

  1. Satoshi Nakamoto is a pseudoname; the creator of Bitcoin is anonymous.

  2. Bitcoin was the first blockchain technology.

  3. Bitcoing solved the Byzantine Problem, which allows for "trustless" transactions.

  4. Bitcoin is "mined" through computational power (called "hash power") used to solve complex algorithms. Solving the algorithm results in being selected to add a block to the blockchain (public digital ledger) and rewards Bitcoins.

  5. 18.5 million BTC (of 21 million) has already been mined.

  6. Approximately 100,000 validators secure the Bitcoin blockchain network.

Heading to the exchange for some BTC?