Why should anyone invest in Bitcoin ?
Bitcoin is the oldest cryptocurrency in the market.
Why should anybody invest in Bitcoin ?
The whole bitcoin environment is nothing short of an active economic playground crafted intricately to incentivize growth and progress.
A currency bears value relative to the amount of work/value produced by it.
A currency that has the ability to produce more value is worth more than currencies that produce lesser value. Bitcoin tokens act as currency where the value isn’t backed by just supply and demand but in reality the value generated per transaction. It is innate that people’s demand for a currency enables them to work more and harder churning out a relative higher output than other currencies, thus adding value to the currency(Bitcoin).
The fact that the total number of Bitcoins that can ever be in the pool is limited to 21 Million ensures that there is constant demand for the tiniest portion of available Bitcoin. Hence, more demand implies more value generated per transaction and eventually results in a relatively higher valuation of the Currency by expanding the economy at large.
Technology: The technological base employed being Blockchain holds record of every single transaction ever made making it extremely secure. The usage of consensus system encompassed by democracy entitles it to a security level that can be altered by the trust of the people using it. Anything foreign that does not follow protocol shall be discarded. This technological breakthrough has immense potential as Eric Schmidt rightly said
“The ability to create something that is not duplicable in the digital world has enormous value”
Shift of Power:
The bitcoin ecosystem is implemented with a motive to allow power of change to rest with the democracy. People are allowed to vote over a change and consensus decides if it is to be implemented or not. It provides a transparent platform from which people are allowed to actually work towards the progress that they want to see. Countries and Organizations alike have tried to bring about this sort of change and Bitcoin has implemented this feature marvelously to bring about the shift in power from centralized authorities to the decentralized democratized masses.
Price of Advancement:
Bitcoin and its implementation of the blockchain technology is fairly new compared to the database systems that have existed from decades ago.
A lot of people display skepticality and caution as anyone would while exploring something new. The price of advancement observes a curve as time progresses, but the bitcoin ecosystem has beautifully incentivized the early users well enough to bring about this positive change in our world of Economics and Finance.
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