Quick Lessons about Cryptocurrencies and Bitcoin
Why is Bitcoin better?
Bitcoin is an amazing technology. It's fair to be overwhelmed and wonder what all this wonderful technology means, but we explain this in Final Crypto Tool. The primary benefits and justifications for why Bitcoin is the ideal form of currency can be found here. We talk about Bitcoin more and more, but why do people adore it so much?
We leave you the main advantages of Bitcoin:
- Decentralized OutputThe creation or distribution of bitcoin is not under the power or influence of any government or central bank. With Bitcoin, the control that FIAT money has over the populace is removed because the currency is depoliticized and made up of people.
- FastSending any amount of money is a matter of minutes. No matter the quantity, no matter the destination.
- Low costYou may pay a high price for sending money through your bank to any location in the world. If you pay with bitcoins, the cost is either zero or very little. Micropayments: Is it impossible to imagine sending 0.3 euros by bank transfer to someone in Chile as a thank-you for a tweet or something similar? In Bitcoin it is reality.
- WorldwideYou can send bitcoins to any country in the world. Bitcoin, like the Internet or email, knows no borders. This, along with the guarantee of respecting the freedom of its users, makes Bitcoin the world's first truly working currency.
- Your OwnershipYou alone own your bitcoins. There are no mailboxes, accounts cannot be blocked (like in the wikileaks case), and the money is entirely yours. You can act as your own bank using Bitcoin.
- Programmable moneyBitcoin is easy to implement and involves an entire programming language, allowing you to create bits of code that will be executed in the transaction. This, previously unthinkable, allows any programmer to monetize all kinds of services. Even payments between fully autonomous machines are possible, simplifying manual, complex and time-consuming processes.
- Encryption and DistributionBitcoin is very secure. It has within it, and in each of its operations, one of the most powerful cryptographic systems in existence, surpassing those used by banks or critical services of our daily functioning. Its distributed nature makes it resistant to network outages or attacks: NEVER. No other computer system has been operational 24 hours a day, 365 days a year for more than 8 years.
All transactions are visible in real time under a pseudonym in the form of a bitcoin address, making them all public. Anyone with a bitcoin address can publicly reveal it, making it clear where every dollar goes.