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Bitcoin is the most popular largest cryptocurrency in the world. Today (24jul 2021) the price of bitcoin reached $33,728.25 And its market cap is US$0.65 trillion.
But why bitcoin is so valuable in the times of banks? Why do people like it? What is the reason behind this coin?
Here I share 6 reasons why bitcoin is valuable
1. Insufficient -
The total number of bitcoin coins is 21 million. In fact, what we call bitcoin is divisible into 100 million units, with each unit being called a satoshi – after the creator of bitcoin.
So the bitcoin network will eventually be worth about 2.1 quadrillion units.
Is 21 Million Bitcoins Enough for Everyone?
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2. Transparent -
All transactions done by the blockchain in bitcoin can be seen. All bitcoin transactions can be viewed here.
3. Decentralized –
Bitcoin data is a network that is connected to many computers. And all the data is widely distributed among all the computers. And all these computers are not in one place but all over the world.
4 borderless -
bitcoin is borderless. bitcoin is not for any one country or any particular place , its for the whole world. its globally. bitcoin transactions can be done anywhere in the world anytime, that too without any charge. but some countries have banned bitcoin like china.
5 uncontrollable -
bitcoin is not controlled by any one company or any particular person. rather way are controlled by many computers spread all over the world so that no one has any right over it
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6. fungible -
all bitcoin are interlinked to each other. whenever there is a change in any one coin , then all the coins also change so that the chance of getting hacked are negligible.
