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What is Bitcoin?
Bitcoin is a network of global consensus that creates a new payment system and completely digital money. This is the first decentralized p2p payment network that is serviced by its own users, without central authorities or intermediaries. From the users' point of view, Bitcoin is similar to cash for the Internet. Bitcoin can also be regarded as a leading accounting system with triple recording.
Bitcoin functions without any supervisory authority or central bank using P2P technology; transaction processing and emissions are carried out collectively by network participants. Bitcoin has open source; Its architecture is known all over the world, no one owns or controls Bitcoin, but everyone can become participants of the network. Due to its unique properties, Bitcoin opens up new horizons of possibilities, which have not been provided before by any payment system.
The constant volatility on all exchanges is traded 24/7/365 days a year.
First crypto currency
Bitcoin appeared in 2008, becoming the world's first cryptocurrency, taking priority in the market, so it gets some advantages over other cryptocurrencies, in fact, clones, Bitcoin's modifications.
The largest network
It has the largest and, therefore, the most secure network in the world. Nowadays the network power is 6.31 eksahesh per second (this is 6.31 * 1018). For comparison, the second capitalization of Ethereum’s cryptocurrency is only 80 GH/s (80 * 109).
The largest capitalization
Any entry into the cryptocurrency market occurs through Bitcoin, has the largest market capitalization.
Dynamics of Bitcoin’s (BTC) growth
8 years existing of a new currency – this is a sufficient time for strengthening its fundamental position of the payment instrument and attracting its loyal users. Let's evaluate how Bitcoin's cost has changed over the past 3 years. The graph shows the rapid dynamics of the growth of the crypto currency on the current time periods.
Given the history of the development of the crypto currency, we can say with certainty that Bitcoin as a means of payment has already taken place, and more and more investors see the future in this technology. So why Bitcoin will grow:
1. We have a deflationary model (which means that in time the coin becomes more valuable), no inflation.
2. Decentralized technology, which is so lacking in our world, thanks to this technology, you can not take and destroy the system, as a copy of the records (database) is located in each user on the network.
3. Global accessibility, speed of payments, security.
4. Scalability of technology is the main factor in the development of future technology.
5. The implementation of new protocols only adds confidence to BTC.
The number of transactions is only growing
The chart of market capitalization
Optimists believe that the rate of Bitcoin in a couple of years (perhaps tens of years) can generally reach up to 100 thousand dollars per 1 BTC. We will adhere to smooth growth, technology develops gradually, just as humanity learns and starts using new technologies bit by bit. Therefore, our forecast is more conservative!