Bitcoin is much more than just a blockchain

Bitcoin blockchain reign

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Bitcoin blockchain reign

Bitcoin blockchain reignBitcoin blockchain reignBitcoin blockchain reign
Home
About
Videos
Leave a tip
Bitcoin Mining
What is bitcoin
What is a blockchain
What is cryptocurrency
What is a digital wallet
What is a private key
What is a mnemonic phrase
What is fiat currency
What is a public address
What is a hard fork
What about crypto taxes
Why bitcoin
What is custodianship
What is proof-of-work
Why cryptocurrency
Products
What is banking
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  • Bitcoin Mining
  • What is bitcoin
  • What is a blockchain
  • What is cryptocurrency
  • What is a digital wallet
  • What is a private key
  • What is a mnemonic phrase
  • What is fiat currency
  • What is a public address
  • What is a hard fork
  • What about crypto taxes
  • Why bitcoin
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  • What is proof-of-work
  • Why cryptocurrency
  • Products
  • What is banking
  • Home
  • About
  • Videos
  • Leave a tip
  • Bitcoin Mining
  • What is bitcoin
  • What is a blockchain
  • What is cryptocurrency
  • What is a digital wallet
  • What is a private key
  • What is a mnemonic phrase
  • What is fiat currency
  • What is a public address
  • What is a hard fork
  • What about crypto taxes
  • Why bitcoin
  • What is custodianship
  • What is proof-of-work
  • Why cryptocurrency
  • Products
  • What is banking

what is BITCOIN

Understanding bitcoin

Bitcoin is a peer-to-peer form of digital money that allows anyone, anywhere to buy, sell, or send money without a third party or financial institution.   The network timestamps transactions to a digital ledger then is added to a blockchain. 


Bitcoin is the one and only truly decentralized crypto asset.  All other coins are essentially just copy cats in one way or another and have some entity behind them.  It is the only coin that was never pre mined and started out 100% completely fair.  Bitcoin is like the gold standard of crypto.  Its easily the best sound money we have to date, with a simple design based off proof-of-work (PoW) network.  An ideal store of value is said to have these 8 attributes; durable, fungible, portable, verifiable, divisible, scarce, established history, and censorship resistance.  Bitcoin has all of those attributes plus some (open, borderless, permission less, unseizable, secure, and deflationary).  Some would try to argue that it does not have an established history, although they don't realize the 24/7 constant ongoing attacks its had since its creation in 2008 (birth of the white papers).


Durable:  Bitcoin does not decay nor can be destroyed.


Fungible:  Every bitcoin is the same, 100,000,000 Satoshi's.


Portable:  You can bring as much of it with you anywhere you want to go, or just access it from anywhere in the world.


Verifiable:  Every node on the network verifies and confirms every transaction.


Divisible:  1 bitcoin can be easily be divided into one hundred million Satoshi's, and those Satoshi's can be divided again if ever needed.


Scarce:  Only 21 million bitcoin will ever be mined and in existence.


Established history:  As mentioned above, bitcoin has undergone and is consistently being hacked, regulated, ridiculed, and manipulated, and just continues to get stronger.


Censorship resistance:  Bitcoin is completely decentralized, meaning not controlled by any entity or even its own creator.  The people that use the network get the say.


Open:  A completely open protocol.


Borderless:  Bitcoin is the same and can be used the same by anyone anywhere no matter your race, religion, region, or government.


Permission less:  You don't need any permission to use bitcoin anytime and anywhere 24/7/365.


Unseizable:  No one can seize, rob, take, or steel your bitcoin.


Secure:  Bitcoin can not be stopped and has yet to be hacked or hindered since 2008.  Once a block is complete and added to the blockchain, the more number of blocks added the more secure the data is on the ledger.


Deflationary:  Bitcoin is the most scarce form of money, so the supply will continue to go down until there is no more bitcoin to mine, while the demand dramatically increases due to its increasing value of energy over time and space.

More Bitcoin Info

One bitcoin or btc is broken down into one hundred million Satoshis.  Like a penny is to a dollar.  A Satoshi otherwise known as a "sat" is named after Satoshi Nakamoto, the creator of bitcoin.  When getting into bitcoin It's important to understand, you don't need to have a whole bitcoin but rather to just get as many satoshis as possible ("stack your sats").  As of right now $1.00 can buy thousands of satoshis, which always changes depending on the price of bitcoin.  It is recommended to read the bitcoin white papers.  8 pages written by Satoshi Nakamoto explaining the design of bitcoin (the bitcoin blue prints).

bitcoin white papers

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