Notes

What's the best way to invest in Bitcoin?.
bitcoin

A revolution began with Bitcoin.
Digital money has been on everyone's mind for a long time. Bitcoin has validated the proof of concept.
But it didn't end with money. Cryptocurrency has played a vital role in the creation of a multi-trillion dollar market filled with innovation and creativity.
With this report, we are going to analyze if Bitcoin is still a good investment.
Final score on the Cryptonomix: 97 / 100
Please report the following results:
30 / 33 Product functional
34/34 Strong community
Leader of the year 33 / 33
Item of Work
Bitcoin has one purpose. As if it were money. As such, it fulfills all of the three functions of money.
Storage of value
Taking part in an exchange
The account unit
The store of value is strong. Bitcoins have a limit. Never will there be more than 21 million.
With people losing their passwords, and sending to non-existent addresses, the circulating supply decreases.
According to Decrypt, just under 4 million Bitcoins have been lost forever.
The bitcoin currency provides powerful exchange capabilities. Bitcoin wallets can be easily created and used.
The contrast between traditional banks is particularly striking.

In less than six months, 21 million Salvadoreans used Bitcoin wallets. El Salvador will recognize Bitcoin as legal tender in early 2021. It is an astounding difference from the 18 million US citizens with bank accounts.
As an accounting unit, bitcoin is also successful. A product or service that can be evaluated based on its value.
A Bitcoin can be divided into eight decimal places. Even if it were more, the developers could make that happen easily.
At the moment, Bitcoin struggles to function as a stable unit of account. Most likely, it will soon.
Cryptocurrencies are more volatile than currencies such as US dollars and euro.
The best example would be a Bitcoin user purchasing pizza. The transaction cost him 10000 BTC. That same sum of Bitcoin is worth millions today.
Adoption is the only solution to this problem. Everyone would have a stable price if Bitcoin were used natively.
To date, the price is too volatile to be used as a unit of account. Thus, money.
Over time, merchants will measure in dollars (or their preferred fiat) first and Bitcoin second.
Insights into Scalability and Decentralization
Scalability is another problem with Bitcoin. There can be only one transaction at a time.
Bitcoin is capped at approximately 10 million transactions per month.
There are many solutions proposed. They often come with centralization, however. The Bitcoin philosophy of decentralization is being departed from.
In order for the technology to scale and yet remain decentralized, it has to stop being centralized.
Two possible scenarios can be considered from here.
A scalable decentralization infrastructure is built on top of Bitcoin.
A competitor invents a technology that renders bitcoin useless.
As Bitcoin grows, a scenario 1 seems more and more possible. Projects such as the Lightning Network come to mind.
Unlikely but possible, the second scenario. A decade ago, Bitcoin was invented. Bitcoin is still positioned at the top of the heap despite competition from other currencies.
Someone could earn billions of dollars from creating a better Bitcoin. Even with strong financial incentives, nobody has succeeded.
In other words, it is not technologically feasible. Yet, innovation always manages to surprise everyone. It is not a possibility we should rule out.
Either way, Bitcoin could replace our current monetary system in the long run. It is even the consensus of most banking professionals.
In summary, Bitcoin is a useful product. Though not scalable, it may become so in time.
Overall score: 31 / 33
Engaged Community
The cryptocurrency space is dominated by Bitcoin due to its early movers advantage. Therefore, it has the largest market capitalization, most adoption, and most public recognition.
Cryptocurrencies with the largest user bases are Bitcoin and Ethereum. The community is so vast that it has different subcommunities. Their cultural and linguistic diversity makes them unique.
This is the spirit of Bitcoin. Central authorities do not exist. It has been a challenging year for Mongolians, elected officials in Latin America, and voters in rural Mongolia. Bitcoin is believed by millions.
Cryptocurrency adoption will continue to grow, and Bitcoins community will follow suit.
Overall, the Bitcoin community is thriving, and is expected to continue growing for the foreseeable future
Activity score: 33 / 33
Leadership is a must
With Bitcoin, we are creating a decentralized monetary system. A single person alone would undermine everything.
If there were a leader, Satoshi Nakamoto would be it. Right now, there is no way to identify them. Bitcoin has been inactive in their wallet for years. And they probably won't become famous.
Satoshi Nakamoto performed everything perfectly.
There is no public figurehead for Bitcoin, which is its best scenario. Leadership in the community is self-directed.
In the end, Bitcoin does not require anyone to speak on its behalf. This speaks for itself: Bitcoin.
In the absence of leadership, almost every project would fail. Bitcoin's greatness lies in precisely that.
Bitcoin has no best leader.
33/33, good score for leadership

A few final thoughts
Market leader Bitcoin is a digital currency. By any metric you measure, it thrives. Consequently, nothing can stop it.
Due to all of these factors, it is an excellent investment for any portfolio.
Final score for Cryptonomix: 97 / 100

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