Bitcoin - The original cryptocurrency

BITCOIN (BTC)

What is Bitcoin?

Bitcoin is THE original ‘cryptocurrency’. It was founded in late 2008 amidst the global housing crisis. Bitcoin was initially envisioned as a peer-to-peer electronic cash system by its founder(s) but has since become a global store-of-value or a digital asset that is viewed as Gold 2.0. Bitcoin is also seen as a hedge against rising inflation because of its limited supply. Only 21 million bitcoin will ever be created. Bitcoin miners (essentially a decentralized network of computers) secure the Bitcoin blockchain by solving equations (via open-source software) and earn ‘bitcoin’ for doing so. Anyone with the right computer hardware and an internet connection can become a bitcoin miner, secure the network, and earn bitcoin. Globally, anyone can purchase Bitcoin through an exchange, decentralized exchange (DEX) or through peer-to-peer transactions. The price of bitcoin has swung wildly since inception and the price has ranged from less than $1 to over $68,000 per coin.

Why does Bitcoin have value?

Bitcoin's real value is that it is a decentralized monetary network. It eliminates the need for a central authority and allows network users to interact and trade value without needing a trusted third party. Bitcoin is considered sound digital money as it has a capped supply, is tamper-proof, is not controlled by a central authority or government and cannot be manipulated. As a network, Bitcoin has the most computing power in the world. Every transaction that takes place on the Bitcoin blockchain can be viewed by anyone; and a history of any-and-all transactions can be verified online. Individuals, corporations, and even nation-states are now investing in bitcoin as a store of value.

What are the benefits of Bitcoin?

·       Accessible to anyone with an internet connection.

·       Additional supply cannot be manipulated or “printed".

·       Has a global network effect and has established trust.

· Users can custody their bitcoin and have ownership of their assets without fear of government intervention or seizure; which is extremely useful for those that may live in corrupt or impoverished nations.

·       Fast and nearly free payments system.

·       Transparency, as all of the networks transactions are publicly available but pseudonymous.

· Has performed extremely well as an asset class.

What are the disadvantages of Bitcoin?

·       The network consumes a lot of energy.

·       Volatile asset with extreme highs and extreme lows.

·       Securing and storing your bitcoin can be confusing.

·       No recourse for user error and/or scams or fraudulent activity.

Bitcoin’s consensus:

Proof-of-Work

What are BTC’s tokenomics?

Capped supply of 21 million bitcoin will be produced. Miners earn bitcoin by solving algorithmic equations via computers and are rewarded hourly. Roughly every four years the amount of Bitcoin that miners can earn is cut in half. Supply will slowly decrease over time (and cannot be changed) while expected demand increases. 90% of Bitcoin's supply is currently in circulation as of March 2022; and the mining rewards will end in the year 2140.

Who founded Bitcoin?

Satoshi Nakamoto. An unknown person or persons who created the Bitcoin whitepaper and wrote the first lines of code for the Bitcoin blockchain.

Who are Bitcoin’s investors?

None.

Concise Crypto Grade:

A+ -- This is the blue chip of all blue chip cryptocurrencies. Bitcoin as an asset is something that everyone in crypto should at least own a small part of. What Bitcoin stands for is even more important. Unobstructed access to digital value for anyone and everyone. It's profound, it's important, it's why people love it and why everyone is so passionate about it. We encourage you to read more about Bitcoin and it's continuing positive impact on a global scale. **Not financial advise.

Where can I buy BTC?

Coinbase, Gemini, Voyager, Binance, OkCoin

What ecosystem does Bitcoin run on?

Bitcoin