Steem Crypto Challenge Month #5 : - Why I love Bitcoin?

There's are so many reasons about why I love Bitcoin I'll mention some of them in details below..

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Availability

If we talk about the Availability of bitcoin , it is available 24*7, all you need is an proper internet connection to perform your transaction, you don't have to go anywhere, wait in long lines nothing just a few steps and your transaction is successful in a few mintues right from your bed!

Blockchain Technology

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Basically, Blockchain is the technology that enables the existence of cryptocurrency . Bitcoin is powered by Blockchain technology which makes is much more valuable and powerful. Bitcoin is the name of the first cryptocurrency, the one for which blockchain technology was actually invented. Blockchain technology is what makes bitcoin unique.
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Blockchain technology is an open distributed ledger that can record transactions of two parties securely and efficiently

Decentralization

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Bitcoin is a decentralized blockchain that uses mining and proof-of-work* to maintain the integrity of the ledger and to prevent people from corrupting the system. Bitcoin works on peer to peer network,that is powered by its users with no central authority or middlemen,means bitcoin prevents the use of middleman you can perform your transaction without needing any third party or middleman.

Digital money

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Bitcoin Is a digital currency, you don't have to carry it in your pocket or wallet, it's not like fiat money that you keep in your pocket and drop it somewhere. You simply keep it in your online wallets, for more security keep them in a ledger wallet, ledger NANO which is much more secured.

proof of work

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Proof of work or "PoW"is used to confirm transactions on blockchain and produce new blocks to the chain. Bitcoin uses the Hashcash proof of work system.Hashcash proofs of work are used in Bitcoin for block generation. In order for a block to be accepted by network participants, miners must complete a proof of work which covers all of the data in the block, The most widely used proof-of-work scheme is based on SHA-256 and was introduced as a part of Bitcoin.

In POW the miners technically compete against each other to complete transactions on the network and get rewarded, a new block is generated every 10 mintues but no one knows who will be the one generating a new block and get rewarded.

finite supply

The developer of bitcoin said The maximum and total amount of bitcoins that can ever exist is 21 million. There are currently 18,528,525 bitcoins in existence. This number changes about every 10 minutes when new blocks are mined. Right now, each new block adds 6.25 bitcoins into circulation. More than 88% of bitcoin total supply are already mined, research says all of the 21million btc will be mined by year 2140. Since it has finite supply and has no physical existence, it's copies can't be made it will always be unique.

Security

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Bitcoin is pretty secured, when you buy assets you watch out the security on how to keep them secure. Hacking bitcoin network is almost impossible. If anyone want to hack btc network they need to perform an 51 %attack, in this attack they are a group of miners controlling more than 50% of the network's mining hash rate or computing power.

According to data the cost of a successful 51% attack on the Bitcoin blockchain would have been more than $21 million per day. So yeah hacking this it's impossible.

Thank You

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