Notes

Can Bitcoin be a good investment?
is bitcoin a good investment

The invention of Bitcoin began a revolution.
There has always been this idea that you could have digital money. Bitcoin has validated the proof of concept.
But it didn't end with money. With Bitcoin, the multitrillion dollar market has seen innovators and creatives come together.
To determine if Bitcoin is still a profitable investment, we are analyzing this report.
Final score: 97/100 for Cryptomix
Please report the following results:
Product 31 / 33
The community is strong 33 / 33
A great leader 33/33
Product of the day
Bitcoin has one purpose. Money. Money fulfills all three functions well.
Organizer of values
Exchange method
Counting unit
As a store of value, it is strong. Bitcoins have a limit. 21 million is the maximum number.
Consequently, the circulating supply of bitcoin drops as people lose their passwords and send to nonexistent addresses.
In all, Decrypt estimates that almost 4 million Bitcoins were lost forever.
The Bitcoin is an influential medium of exchange. Bitcoin wallet creation and usage is extraordinarily simple.
Comparatively speaking, traditional banks are less expensive.
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. As compared to 18 million people having bank accounts.
Bitcoin can also be used as a unit of account. A product or service that can be evaluated based on its value.
Eight decimal places divide Bitcoin. Even if it were more, the developers could make that happen easily.
However, Bitcoin is a volatile unit of account at the moment. It is likely that we will in the near future.
Compared to the dollar or euro, Bitcoins are volatile.
An early Bitcoin user buying pizza is the best example. It cost him 10000 bitcoins. Bitcoin in today's market is worth millions.
It is only through broad adoption that this problem can be resolved. Everyone would use Bitcoin natively, which would keep the price stable.
At the moment, though, the price is too volatile to function as a unit of account. Hence, money.
As merchant adoption increases, US dollars (or another preferred fiat currency) will be used to measure first, followed by Bitcoin.
A scalable and decentralized solution
Bitcoin's inability to scale effectively is also a problem. There can be only one transaction at a time.
A bitcoin transaction cap of ten million per month applies to bitcoin.
There are a number of proposed solutions. Their centralization, however, is common. From the decentralized philosophy of Bitcoin.
The technology cannot scale and remain decentralized at the same time.
The two possible outcomes are as follows.
Developers build infrastructure on top of Bitcoin to enable scalable decentralization.
A competitor discovers a technological innovation that makes Bitcoin obsolete.
As the Bitcoin ecosystem expands, the first scenario becomes increasingly likely. Projects such as the Lightning Network come to mind.
However, the 2nd scenario is not impossible. This year marks the 10th anniversary of Bitcoin. Bitcoin has not been dethroned yet by a competitor, which is a good sign.
It would be profitable for people to create a better Bitcoin, since they would make billions of dollars. Although the financial incentive is strong, no one has succeeded so far.
The technology makes it impossible. The funny thing is, innovation surprises everyone. It is not a possibility we should rule out.
Bitcoin stands a real chance of replacing the current monetary system in either case. Most of the banking profession agrees.
A functional Bitcoin product exists. However, it can be scaled in time.
Work product score: 31/33
Communities that are active
The cryptocurrency market benefits from Bitcoin's first-mover advantage. Therefore, it has the largest market capitalization, most adoption, and most public recognition.
Cryptocurrencies with the largest user bases are Bitcoin and Ethereum. Several sub-communities exist in it. Languages, cultures and countries differ among them.
In essence, this is Bitcoin's philosophy. The federal government is not ruled by a single authority. In Mongolia's rural plains and among Latin American elected officials. Bitcoin is a belief held by millions.
Cryptocurrency adoption will grow Bitcoin's community too.
In summary, there is considerable growth to look forward to for the Bitcoin community in the near future
A score of 33 / 33 denotes an active community
Leadership is good
Decentralized monetary systems such as Bitcoin are the goal. A single person who is responsible for leading the project would be detrimental.
Satoshi Nakamoto would be the leader if there were one. In the current situation, everyone is unaware of their identity. Years have passed since they last used their Bitcoin wallet. Likewise, they will probably never be recognized as a public figure.
It was a perfect execution by Satoshi Nakamoto.
Bitcoin's best case scenario is to have no public figurehead. As a group, the community leads itself.
At the end of the day, Bitcoin does not require advocacy. Cryptocurrency speaks for itself.
A lack of leadership would lead to most projects failing. Bitcoin's greatness lies in precisely that.
Bitcoin is best served by no leader.

Leadership score on par with 33/33

Conclusions
It is Bitcoin that is leading the market. By any measure, it thrives. There is no way to stop it.
It has these advantages, making it an ideal investment for just about any portfolio.
Overall score for Cryptonomix is 97 / 100

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