Breaking Down Bitcoin (I): The Only Cryptocurrency True To Its Essence

23 May 2023

Originally Posted On Publish0x

“Bitcoin, being limited, represents freedom, decentralization, security, but it's not fast, I don't care about speed, I'm not in a hurry, but I want freedom, I want security, and that's it, everything else below bitcoin, for me, is disposable”. Jaime Merino, Computer scientist by profession, Trader and streamer on YouTube, currently developing market analyst, technology educator with certifications in infrastructure and network topology, with diplomas in operating systems, servers and object-oriented programming (See article: Any cryptocurrency that has a "face" behind it, is disposable and adjustable).

Bitcoin was the first cryptocurrency to be created, inspired by a document published in 2008 by a mysterious author under the pseudonym Satoshi Nakamoto. In this document, it described the operation of a peer-to-peer electronic money system, based on proof-of-work and distributed consensus. The goal: to create a currency that would be resistant to censorship, inflation and corruption.

Since then, many other cryptocurrencies have emerged that have attempted to mimic or improve on Bitcoin's design, offering features such as greater speed, lower energy consumption, greater privacy or greater functionality. However, none of these cryptocurrencies have managed to surpass Bitcoin in terms of adoption, security or valuation.

This is because Bitcoin has a number of advantages that make it unique and superior to the rest of the cryptocurrencies:

📌 It is the most decentralized cryptocurrency that exists, having the largest network of nodes and miners that validate transactions and protect the network from attacks.

📌 It is the most secure cryptocurrency in existence, having the most computational power dedicated to its maintenance and being the most resistant to arbitrary changes in its protocol.

📌 It is the scarcest cryptocurrency in existence, having a fixed and unalterable supply that guarantees its value in the face of inflation and monetary manipulation.

📌 Bitcoin is the most neutral cryptocurrency in existence, as it is not controlled or influenced by any individual, group or entity that can impose its interests or agendas.

📌 It is based on blockchain technology, a decentralized network that allows value transactions without intermediaries or centralized authorities.

📌 It has a limited supply of 21 million units, giving it a digital scarcity that makes it attractive as a potential store of value and medium of exchange.

Bitcoin is the currency of freedom and security because it remains true to its essence, to its original purpose: to be a free, independent and sovereign electronic money.

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"You will ask yourself: And if I take a risk and lose...? I will ask you: AND IF YOU RISK AND WIN? Success begins with thought, because sooner or later the man who wins is the one who believes he can do it. Do not be afraid of mistakes or failure, winners are not afraid of losing, losers are, in most cases the risk comes from not knowing what you are doing, so trust yourself, learn, be patient, manage your emotions and above all, enjoy the journey, what the wise man does at the beginning, the fool does at the end" - Anonymous.

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Author's Note: The opinion expressed here is not investment advice, is provided for informational purposes only, and reflects the opinion of the author only. I do not promote, endorse or recommend any particular investment. Investments may not be right for everyone. Every investment in the market and every trade you make involves risk, so you should always do your own research before making any decision. I do not recommend investing money that you cannot afford to chair, as you could lose the entire amount invested.

“Everyone has their own forms of expression. I think we all have a lot to say, but finding ways to say it is more than half the battle" - Criss Jami.

"Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth" - Marcus Aurelius.

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