Limited supply - There will only be 21,000,000 bitcoins created and are issued in a predictable way, you can view the inflation schedule here Once they have been issued, Bitcoin will be truly deflationary.
Open source: Bitcoin code is fully auditable. You can read the source code yourself here
Responsible - The public ledger is transparent, all transactions are viewed by all
Decentralized - Bitcoin is distributed globally through thousands of nodes without any point of failure and as such can not be closed in a way similar to how Bittorrent works.
Resistant to censorship - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions with which you disagree, see Operation Chokepoint.
Push system - There are no returns in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
Low Rate - Transaction fees can range between a few cents and a few dollars depending on network demand and how much priority you want to allocate to the transaction. Most portfolios calculate the rate automatically, but you can see current rates here
No borders - No country can prevent entry and exit, even in areas that are currently not served by traditional banking, as the ledger is distributed worldwide.
Trustless - Bitcoin solved the Byzantine general problem, which means that nobody needs to trust anyone to work.
Pseudonym - It is not necessary to expose personal information when purchased with cash or transaction.
Secure - cryptographically encrypted and can not be forcefully or brutally confiscated with appropriate key management such as hardware portfolios.
Programmable - individual bitcoin units can be programmed to transfer based on certain criteria that are satisfied
Almost instantaneous - From a few seconds to a few minutes depending on the need for confirmations. After some confirmations, the transactions are irreversible.
Equal - No intermediaries with a cut, no need for trusted third parties Portable - Bitcoins are digital so they are more easy to move that cash or gold. They can even be transported simply by remembering a chain of words for the recovery of the wallet.
Scalable - Each bitcoin is divisible up to 8 decimals allowing it to grow in value while still adapting to micro-transactions.
Designed money - Bitcoin was created to fit all the fundamental properties of money better than gold or fiduciary money.
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.reddit.com/r/Bitcoin/comments/6jlop4/rbitcoin_faq_newcomers_please_read/
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit