Notes

How good is Bitcoin as an investment?
bitcoin mining pool

Blockchain revolutionized the financial world.
Having digital money has always been an idea. Proof of concept was validated by Bitcoin.
Money was not the end of it. Cryptocurrency has played a vital role in the creation of a multi-trillion dollar market filled with innovation and creativity.

In this report, we will review Bitcoin and determine whether it is still a lucrative investment.
Final score on the Cryptonomix: 97 / 100
Results:
Functionality 31/33
Community 33 / 33 strong
Leader of the year 33 / 33
Work product
A bitcoin has only one purpose. Money. Money fulfills all three functions well.
The store of value
The means of exchange
Amount per unit of account
An important store of value. Bitcoin has a limited number of units. Twenty-one million will never be more than they are now.
With people losing their passwords, and sending to non-existent addresses, the circulating supply decreases.
It is estimated that just less than 4 million Bitcoins have been lost for good.
Bitcoins are a powerful medium of exchange. Bitcoin wallet creation and usage is extraordinarily simple.
In particular compared to a traditional bank.
Earlier this year, El Salvador announced Bitcoin will be accepted as legal tender by early 2021 In less than six months, 21 million citizens were actively using Bitcoin wallets. The 18 million with bank accounts contrast starkly with this figure.
As an accounting unit, bitcoin is also successful. A way to measure the value of a product or service.
The bitcoin currency has eight decimal places. Even if it were more, the developers could make that happen easily.
In spite of this, Bitcoin struggles at the moment as a unit of account. And will likely do so in the near future.
Cryptocurrencies are more volatile than currencies such as US dollars and euro.
An early Bitcoin user buying pizza is the best example. The transaction cost him 10000 BTC. A bitcoin of that value would be worth millions today.
The only answer to this problem is widespread adoption. The price of Bitcoin would remain stable if everyone used it natively.
At the moment, though, the price is too volatile to function as a unit of account. As a result, money is generated.
As merchant adoption increases, US dollars (or another preferred fiat currency) will be used to measure first, followed by Bitcoin.
Efficacy and Decentralization
Bitcoin is also unable to effectively scale. Transactions are thus limited.
Monthly transactions on Bitcoin are limited to approximately 10 million.
There are several possible solutions. However, they are often centralized. It departs from the principle of decentralization that underpins Bitcoin.
Scaling the technology at the same time as staying decentralized is impossible.
There are two possibilities from here.
A scalable decentralization infrastructure is built on top of Bitcoin.
Competitors find a way to make Bitcoin useless.
Bitcoin's growing ecosystem makes the first scenario seem more likely. Lightning Network comes to mind.
Unlikely but possible, the second scenario. Over a decade ago, Bitcoins were invented. Bitcoin is still positioned at the top of the heap despite competition from other currencies.
It would be profitable for people to create a better Bitcoin, since they would make billions of dollars. Even with strong financial incentives, nobody has succeeded.
The fact that it is technically impossible indicates that it cannot be done. Innovation, however, can surprise us all in funny ways. This possibility should not be ruled out.
In either case, Bitcoin presents a serious threat to the current monetary system. Even most banking professionals agree.
A functional product exists for Bitcoin. However, it can be scaled in time.
Score: 31 / 33
Activate the community
Among cryptocurrencies, Bitcoin is first to market. It has the largest market capitalization, is the most widely adopted and recognized by the public.
The largest community of any cryptocurrency is that of bitcoin. The population is so large that there are various sub-communities. Different countries, cultures, and languages are represented.
It is the essence of Bitcoins philosophy. No single central authority exists. Rural Mongolians to Latin American elected officials. There are millions of people who believe in Bitcoin.
As digital currencies continue to gain prominence, so will Bitcoin's community.
As a result of Bitcoin's popularity, it is likely that it will continue to grow for a while
The score of this community is 33 / 33
Leadership is important
Using Bitcoin, you create an entirely decentralized monetary system. It would be very inefficient to have one person lead the project.
Satoshi Nakamoto would be the leader if there was one. The identity of the person is currently unknown. The Bitcoin wallet has been inactive for years. It's unlikely that they'll ever become famous.
Everything Satoshi Nakamoto did was perfect.
It would be Bitcoin's best scenario if it didn't have a public figurehead. Leadership is assumed by the community.
At the end of the day, Bitcoin does not require advocacy. This speaks for itself: Bitcoin.
Leadership is crucial to the success of most projects. But that's exactly what makes Bitcoin so great.
There is no better option for Bitcoin than no leader.
Having good leadership scores: 33/33

A few words of wisdom
Bitcoin dominates the market. Thrives regardless of the metric you use. The trend is unstoppable.
A portfolio that includes it will not regret making this investment.
Score for Crystalmix: 97 / 100

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