NotesWhat is notes.io?

Notes brand slogan

Notes - notes.io

Bitcoin: A Good Investment.
free bitcoin

Introducing Bitcoin ushered in a revolution.
People have always thought there could be digital money. Bitcoin confirmed the proof of concept.
Money was only one part of it. Blockchain has created a multitrillion dollar market filled with creativity and innovation.
In this report, we will review Bitcoin and determine whether it is still a lucrative investment.
Final score on the Cryptonomix: 97 / 100
Results of the report:
31 out of 33 products are functional
Solid community 33/33
Leadership is great 33 / 33
Finished product
The Bitcoin project has a single purpose. It is to be money. Essentially, it fulfills all 3 functions of money.
A place to store values
Exchanging medium
Object of account
It's a powerful store of value. Bitcoins have a limit. No more than 21 million will live there at any given time.
Consequently, the circulating supply of bitcoin drops as people lose their passwords and send to nonexistent addresses.
Decrypt estimates that just under four million Bitcoins are going away forever.
There are many advantages to using Bitcoin as a medium of exchange. You can create and use a Bitcoin wallet in a matter of minutes.
Comparatively to traditional banks.
A few months ago, El Salvador announced that Bitcoin will become legal tender in early 2021. 21 million citizens are now actively using a Bitcoin wallet. As compared to 18 million people having bank accounts.

In addition to being an account unit, Bitcoin also succeeds as a digital currency. It is the ability to quantify the value of a product or service.
It is possible to divide Bitcoin by eight decimal places. If it ever needed to be more, the core developers could easily do so.
At the moment, Bitcoin is not a strong unit of account. In the near future, it will likely happen.
Cryptocurrencies are more volatile than currencies such as US dollars and euro.
Pizza purchases made by early Bitcoin users are the best examples. It cost him 10000 bitcoins. Those same Bitcoins are now worth millions of dollars.
Widespread adoption of this technology is the only way to resolve this problem. Everyone would have a stable price if Bitcoin were used natively.
Currently, the price is too volatile to serve as a unit of account. Thus, money.
As adoption increases, merchants will start analyzing transactions in US dollars (or their preferred fiat) and bitcoins following.
In a nutshell, Scalability and Decentralization
Scalability is also an issue with Bitcoin. Thus, transactions are limited to a certain number.
There are approximately 10 million Bitcoin transactions per month.
Solution proposals are numerous. They often include some level of centralization, however. Bitcoin departs from its decentralization philosophy.
The technology is not capable of scaling and staying decentralized at the same time.
Two possible scenarios are presented here.
On top of Bitcoin, developers develop infrastructure to enable scalable decentralization.
Bitcoin is rendered ineffective by a competitor's technological innovation.
It appears increasingly likely that the first scenario will play out as the Bitcoin ecosystem grows. Lightning Network is an example of such a project.
A second scenario is less likely, but still possible. It has been more than a decade since Bitcoin was first introduced. A competitor has not yet dethroned Bitcoin yet, which is important.
A better Bitcoin could potentially bring billions of dollars to those who create it. However, no one has made it despite the powerful financial incentive.
In other words, it is not technologically feasible. Yet, innovation always manages to surprise everyone. It is not a possibility we should rule out.
In either case, Bitcoin presents a serious threat to the current monetary system. Even most banking professionals agree.
There is a functioning product with Bitcoins. It can be scalable in time, but is not scalable now.
Score: 31 / 33 for the working product
Community of active participants
In the cryptocurrency market, Bitcoin enjoys the first movers advantage. Therefore, it has the largest market capitalization, most adoption, and most public recognition.
All cryptocurrencies can be compared to Bitcoin in terms of their community. Because of its size, there are different sub-communities. Languages, cultures and countries differ among them.
The Bitcoin philosophy can be summed up here. No single central authority exists. Mongolia's rural plains to Latin America's elected officials. Bitcoin is believed by millions.
As cryptocurrency adoption increases, the Bitcoin community will grow along with it.
For the foreseeable future, the Bitcoin community will flourish and grow
This community has 33 active members (33/33).
Leaders who lead well
Decentralization is Bitcoin's goal. A single person in charge would undermine the entire project.
A leader would be Satoshi Nakamoto, if there were one. In the current situation, everyone is unaware of their identity. The Bitcoin wallet has been inactive for years. They're unlikely to become famous.
Satoshi Nakamoto performed everything perfectly.
Bitcoin operates best without a public figurehead. Leaders in the community lead themselves.
Bitcoin doesn't need anyone to represent it at the end of the day. In Bitcoin's case, everything is clear.
Leadership is crucial for most projects to succeed. But that is precisely why Bitcoin is so amazing.
In summary, Bitcoin's best option is no leader.
Score of 33 / 33 for leadership

One final thought
The Bitcoin market is the leader. Success can be measured in any way. In other words, you cannot stop it.
A portfolio comprised of these factors would make the investment a worthwhile one.
97 out of 100 for Cryptonomix

My Website: https://btcminerfarm.com/
     
 
what is notes.io
 

Notes.io is a web-based application for taking notes. You can take your notes and share with others people. If you like taking long notes, notes.io is designed for you. To date, over 8,000,000,000 notes created and continuing...

With notes.io;

  • * You can take a note from anywhere and any device with internet connection.
  • * You can share the notes in social platforms (YouTube, Facebook, Twitter, instagram etc.).
  • * You can quickly share your contents without website, blog and e-mail.
  • * You don't need to create any Account to share a note. As you wish you can use quick, easy and best shortened notes with sms, websites, e-mail, or messaging services (WhatsApp, iMessage, Telegram, Signal).
  • * Notes.io has fabulous infrastructure design for a short link and allows you to share the note as an easy and understandable link.

Fast: Notes.io is built for speed and performance. You can take a notes quickly and browse your archive.

Easy: Notes.io doesn’t require installation. Just write and share note!

Short: Notes.io’s url just 8 character. You’ll get shorten link of your note when you want to share. (Ex: notes.io/q )

Free: Notes.io works for 12 years and has been free since the day it was started.


You immediately create your first note and start sharing with the ones you wish. If you want to contact us, you can use the following communication channels;


Email: [email protected]

Twitter: http://twitter.com/notesio

Instagram: http://instagram.com/notes.io

Facebook: http://facebook.com/notesio



Regards;
Notes.io Team

     
 
Shortened Note Link
 
 
Looding Image
 
     
 
Long File
 
 

For written notes was greater than 18KB Unable to shorten.

To be smaller than 18KB, please organize your notes, or sign in.