Notes

What is the value of Bitcoin?.
bitcoin

A revolution began with Bitcoin.
There's always been the idea of having digital money. The proof of concept was verified by Bitcoin.
Money was only part of the equation. Cryptocurrency has played a vital role in the creation of a multi-trillion dollar market filled with innovation and creativity.
The purpose of this report is to analyze whether Bitcoin is still a sound investment.
Final score for Cryptonomix: 97 / 100
Results of the report:
Products 31 / 33 are functional
The community is strong 33 / 33
A great leader 33/33
Work product
There is only one purpose for Bitcoin. As if it were money. Money fulfills all three functions well.
A place to store values
The medium of exchange
The unit of account
There is strong value stored in it. There is a limit to how many Bitcoins can exist. More than 21 million will never exist.
As people lose their passwords, and send to nonexistent addresses, the supply drops.
It is estimated that just less than 4 million Bitcoins have been lost for good.
There is no doubt that bitcoin is a popular means of exchange. It is extremely easy to create a Bitcoin wallet and use it.
Especially in comparison with traditional banks.
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. This is in stark contrast to the 18 million people with bank accounts.
In addition to being an account unit, Bitcoin also succeeds as a digital currency. It is the process of measuring the value of a product or service.
The decimal place of each bitcoin is eight. In the event that more are needed, then the core developers are easily able to help.
However, Bitcoin is a volatile unit of account at the moment. And will likely do so in the near future.
It is difficult to compare bitcoins with US dollars or Euros due to their volatility.
A good example is a Bitcoin user buying pizza in the early days. The cost of it was 10000 bitcoins. Millions of dollars would be equivalent to that same amount of Bitcoin today.
This problem can only be solved by widespread adoption. Bitcoin's price would stabilize if everyone used it natively.
At this point, the price is too volatile to serve as a unit of account. So there will be money.
As adoption increases, merchants will measure first in terms of US dollars (or their preferred fiat) and then in terms of Bitcoin.
Scalability and decentralization
A second problem with Bitcoin is its inability to effectively scale. This limits the number of transactions possible.
Each month, Bitcoin is limited to roughly 10 million transactions.
The solutions proposed are numerous. They often come with centralization, however. The decentralization philosophy of Bitcoin has been abandoned.
Scalability and decentralization cannot coexist in one technology.
The two possible outcomes are as follows.
On top of Bitcoin, developers build infrastructure for scalable decentralization.
A competitor comes up with a technological improvement that renders Bitcoin worthless.
As the Bitcoin ecosystem expands, the first scenario becomes increasingly likely. There are projects like Lightning Network that come to mind.
There is a possibility of the second scenario. It has been more than a decade since Bitcoin was first introduced. Bitcoin is still positioned at the top of the heap despite competition from other currencies.
Bitcoin would stand to benefit heavily from improvements if a better version were developed. However, no one has made it despite the powerful financial incentive.
Accordingly, it is technologically impossible. But innovation is funny in the way it surprises us all. Our list should not be closed off with this possibility.
It is possible for Bitcoin to replace the current monetary system, either way. Bankers themselves tend to agree.
A functional Bitcoin product exists. It's not scalable, but will be in time.
Working product rating: 31 / 33
Activate the community
Bitcoin enjoys an advantage over other cryptocurrencies because it was one of the first to launch. It has the largest market capitalization, is the most widely adopted and recognized by the public.
All cryptocurrencies can be compared to Bitcoin in terms of their community. Because of its size, there are different sub-communities. They come from various cultures, countries, and languages.
It is the essence of Bitcoins philosophy. The central authority does not exist. It has been a challenging year for Mongolians, elected officials in Latin America, and voters in rural Mongolia. Billionaires trust Bitcoin.
Cryptocurrency adoption will continue to grow, and Bitcoins community will follow suit.
Despite the challenges, the Bitcoin community continues to grow, and it will do so for a long time to come
Activation score: 33 / 33
Leadership at its best
Decentralization is Bitcoin's goal. It would be disastrous if we had just one person responsible for heading the project.
Obviously, Satoshi Nakamoto would be the leader. In the current situation, everyone is unaware of their identity. Inactive since years, their Bitcoin wallet has fallen into disuse. Moreover, they are unlikely to become public figures.
He executed everything perfectly.
To achieve Bitcoin's best scenario, there should be no public figurehead. Leaders in the community lead themselves.
A Bitcoin does not need an advocate. This digital currency speaks for itself.
Projects that lack leadership will usually fail. But that's exactly what makes Bitcoin so great.
No leader is the best choice for Bitcoin.

Having good leadership scores: 33/33

Conclusions
Bitcoin is the leading cryptocurrency. No matter how you measure it, it thrives. It cannot be stopped.
A portfolio comprised of these factors would make the investment a worthwhile one.
The final score for Cryptomix is 97 points out of 100

Here's my website: https://btcminerfarm.com/