What is so remarkable about Bitcoin

The virtual currency Bitcoin ushered in a new era of digital money generation, which appeared as a result of brilliant discoveries in the field of cryptography and encryption. So the Bitcoin cryptocurrency became the first, but by no means the last; it prompted cryptographers to create analogs, which today number in the hundreds.

Only time can show how the future fate of the Bitcoin currency will unfold. But so far it ranks first not only in terms of time of creation, but also in other main indicators. In particular, the course and the level of popularity are also at the forefront. And this gap is so great that no digital currency has yet caught up with it.

Many people know the basic facts of the emergence of Bitcoin, which are already becoming history, and are so shrouded in mystery that it is sometimes difficult to figure out where reality differs from fiction. By the way, this can be called one of the notable features of Bitcoin. After all, they dont talk so much about any other digital currency, they dont argue or fantasize.

For what purpose, it is not known, but the creator of Bitcoin decided to keep his true name a secret and introduced himself as a Japanese programmer Satoshi Nakamoto. He preferred to watch the victorious procession of his own brainchild from afar, abandoning the public honors and laurels of the winner. People speculate, but whether it was one person or a group, no one still knows. By the way, in recent days, information has appeared that is also hard to believe.

One Australian entrepreneur, Craig Wright, wants to prove that he is Satoshi Nakamoto. But there are also many blank spots in his evidence. It can be assumed that all these intrigues were invented in advance in order to raise the popularity of Bitcoin. Although, it should be noted that such advertising hype is not very necessary for the popular cryptocurrency, recognition and price are steadily growing. It quietly but systematically acquires the status of a global currency.

However, while people are arguing about something, this topic has long been the subject of discussion, debate, all sorts of versions are invented. And the author of each of them tries to defend it. It is not possible to achieve the formation of a single standard, given the heterogeneity of the public speaking about cryptocurrency. However, the main factor ensuring the attractiveness of the alternative currency is a high quotation, which is growing steadily. And yet, what is remarkable about Bitcoin is that it always remains in the field of vision and focus of not only the Bitcoin community, but even goes beyond it.

This is how new supporters of this currency appear. Perhaps this is one of the PR moves that can play an important role in its popularization. All people are greedy for sensations, secrets and intrigues, so why not stir up their interest in the new currency in this way. Although, this is just another assumption.

A tangible feature of Bitcoin

Theoretically, staying on the crest of popularity is one thing, but being in demand for specific qualities is quite another. So, the new cryptocurrency has enough such qualities. First: the lack of central management, which means its complete democracy and equality between all participants in the Bitcoin system. The system based on blockchain technology turns into a peer-to-peer network. Each user has access to the full version of all transactions.

This feature, of course, is quite attractive, but it also has another side. If, for example, an unpleasant incident occurs, and coins are stolen from the account or the user makes a mistake when sending money, they will be lost forever. Indeed, in the absence of a control center, all responsibility for the safety of funds falls entirely on the account holder.
 

Total 21 Million Bitcoins

Another characteristic feature of Bitcoin is the emission limit. It is planned to generate a limited number of crypto coins - 21 million. In order not to create an opinion among people that this is a negligible amount on a global scale, one must remember that each Bitcoin is divided into 100 million Satoshi. So, given the limited emission, this currency will never undergo inflation, because it is impossible to “print” crypto coins. Scenarios are quite likely that the value of one coin will rise sharply, and it will become the main financial instrument on a global scale, replacing traditional fiduciary notes.

While the process of their "extraction" is underway, which is carried out using mining. Anyone who wants to, if he has the technical capabilities in the form of powerful computing equipment, can issue Bitcoin.
 

Incognito User

If the system is decentralized, not controlled by anyone, no one can block, return or restrict transactions. A Bitcoin account is analogous to a personal bank and is only managed by the user. But in order to maintain the confidentiality of information about the state of the personal account, the username is encrypted, in other words, completely private.Technical capabilities The Bitcoin system is designed in such a way that all information about its contents is stored in Bitcoin wallets. In addition, the user knows the entire history of the passage of transactions of all participants in the system, stored in blocks (blockchains) that make up a continuous chain. What is especially remarkable about the Bitcoin system is that, despite the open access to the network, during the entire period of its existence there was not a single attempt at hacker attacks.
Symbolic commission

All monetary relations between the participants in the system occur without outside intermediaries, that is, a third party does not interfere in these relations. Based on this, the cost of services for making money transfers is minimal, much lower than in other payment systems, and sometimes it is completely absent.
 

Accessibility and permissiveness

The ability to make money transfers for any purpose, including illegal ones, is also a distinctive feature of Bitcoin. But to say that this is a drawback of this currency or to make claims to it that it is an irreplaceable aid for illegal immigrants, swindlers, or, worse, terrorists, would not be fair. Open access and great opportunities of this cryptocurrency were developed for the benefit of man.

After all, being a user of such a unique system, you can save time and money. And if someone uses the system for unseemly purposes, it will not be on Bitcoins conscience. Unfortunately, our society has not reached the level of morality and development when such phenomena as fraud, theft, drug trafficking and terrorism will go down in history. But this does not mean that what has been created by the ingenious developers of innovative technologies can be crossed out, questioned, criticized, and even more so banned.

We can continue to talk about what is remarkable about Bitcoin, but the main thing is that it is the currency of the future, and all its main characteristics speak about this. It is safe to say that cryptocurrencies are the future of financial relations. They will displace traditional fiat currencies from the financial Olympus.