Post Menu and Details.
- Bitcoin Was Created To Make You Free!
- How Bitcoin Achieves Decentralization To Make You Free?
- Peer To Peer Network!
- Blockchain of bitcoin
- Was Satoshi Nakamoto Aware That Bitcoin Will Be Utilized As An Investment Asset!
- Does Bitcoin Guarantee Your Freedom?
Reading time: ~4 minutes
Bitcoin is considered the utmost robust version of online cash. Bitcoin was composed as a payment method to facilitate transactions. Bitcoin was released during the economic crisis in 2009 to mitigate the dominance of government and central parties while making transactions.
In a nutshell, bitcoin was not composed as a speculative asset at the very first glance. It was created just as a virtual currency aiming to embrace the ease of transactions. However, tons of investors are holding bitcoin as a speculative asset and are merely availing profitable results from bitcoin. It was not supposed to make us rich, but it still makes us rich.
Regardless of these facts, ample investors have availed a gigantic buck by investing in bitcoin. You might wonder how bitcoin is supposed to make you free; let’s have a look.
Bitcoin Was Created To Make You Free!
Bitcoin is a digitalized coinage subjected to few robust technologies. However, bitcoin is nowadays merely considered a speculative investment asset as almost every individual is fascinated by the return of investment rendered by bitcoin. Bitcoin was invented by a Japanese programmer named Satoshi Nakamoto in 2008; the prominent reason behind creating bitcoin was to make you free, you might be wondering how. To start investing in bitcoins, you can visit Bitcoin Prime Software.
Bitcoin is an utterly decentralized cryptocurrency, and there are no government authorities and national banks involved in the scenario of bitcoin. The noninvolvement of government authorities and central banks is enough to demonstrate that bitcoin was created to render you independent.
By utilizing bitcoin as a payment method, you are allowed to make transactions without the involvement of any third parties; all the more, you can carry any amount of transactions with a much more embraced pace.
How Bitcoin Achieves Decentralization To Make You Free?
Fiat currencies are objected to the rules and guidelines of higher authorities of the explicit region. In contrast, bitcoin does not confer the path defined by fiat currencies, but the major query is that how bitcoin achieves the decentralization features to make you free.
Peer To Peer Network!
A peer-to-peer network is the utmost scorching technology introduced by the bitcoin complex at the very first instance. Peer to peer network of bitcoin plays a significant role in assisting bitcoin in achieving decentralization. Crypto enthusiasts are familiar with the fact that bitcoin is complexed on a P2P network. The peer to peer network is composed of diversified computing systems, which are known as a node.
Currently, the bitcoin complex has 10000 nodes; these nodes further behave as a decisive entity regulating the complexity of bitcoin. In a nutshell, bitcoin is regulated by a set of entities and not by a singular entity, whereas fiat currencies are regulated, authorized, and issued by a singular centric entity, the central bank.
Blockchain of bitcoin
Bitcoin has introduced tons of innovative technology, and the utmost prominent technical aspect of the bitcoin complex is blockchain. Blockchain correspondingly plays a significant role in helping bitcoin achieving decentralization.
Blockchain is a public distributed ledger or an advanced database. Bitcoin is equipped with its database, demonstrating the fact that bitcoin does require the database system of traditional banks to store information.
The fact might amaze you that traditional banking systems are equipped with a private database, whereas a bitcoin database is subjected to a public database, another reason why bitcoin was meant to set you free. In a nutshell, the bitcoin complex allows you to access information regarding transactions just hassle-free, which embraces the transparency and trust between the entities of the bitcoin network.
Was Satoshi Nakamoto Aware That Bitcoin Will Be Utilized As An Investment Asset!
Satoshi Nakamoto is the inventor of bitcoin as per the white paper of bitcoin. However, there are still no crisp and clear facts regarding the identity of bitcoin’s inventor. According to the robust sources, Satoshi Nakamoto was not aware of the future value of bitcoin; conferring the statement of these proficient analysts, he just introduced bitcoin to eradicate the suffering of an average individual from the centric domination and greed.
However, investors are considering bitcoin as a great opportunity for investment and trading. You might be stunned by the fact that United States has availed more than 400 billion USD just as a profit through the cryptocurrency industry. If Satoshi Nakamoto was aware of the fact that bitcoin will be so valuable one day, he would have issued a few more units of bitcoin rather than issuing just 21 million bitcoin units, out of which 18 million are already mined.
Does Bitcoin Guarantee Your Freedom?
As mentioned ahead, bitcoin was composed to render you freedom but does bitcoin actually guarantee you freedom. Bitcoin did not actually guarantee you freedom at the very first instances of bitcoin release as there were merely centralized trustable exchange platforms. However, the arrival of a decentralized exchange platform can assure you freedom.
Centralized exchanges are equipped with KYC and AML; this progression verifies the identity of clients utilizing that explicit centralized exchange; all the more, these exchange platforms are regulated by a centric party or the owner of that explicit exchange.
Decentralized exchange platforms are not subjected to any sort of know your customer or validation progression. All the more core notion of these decentralized exchange is correspondingly derived from bitcoin as these exchange websites are correspondingly equipped with a peer-to-peer network, these computing entities of decentralized exchange platform ensures nominal blunders.
The transaction fees of these platforms are fixed for every transaction; all the more, it does not hike the value of transaction fees at all in any scenario. In a nutshell, decentralized exchange platforms act as a bridge to financial freedom. According to few robust sources, bitcoin was complexed in such a way to make only a few people rich, but thousands of investors are getting rich by bitcoin. However, these are just myths and rumors.
Yes, bitcoin was not created to make you rich and was created to make you free from centric domination.
Thank you for reading!