Why is Bitcoin worth so much?

In the middle of the 21st century many still do not understand how Bitcoin can be worth that much, but as it is already possible to observe the vision of the financial market has changed compared to Bitcoin and this is a complex topic that covers several aspects, however, its value can be attributed to several factors.


Bitcoin

Perhaps the answer is simpler than we think and imagine, its high value is tied to the fact that how much you are willing to pay for Bitcoin. Even though it is new to the market, it is increasingly gaining strength, but devaluation cannot be ruled out as even Bitcoin is subject to volatility.

It is only volatile because at the moment there are many speculators, people who still use it to make money, and are traders, that is, sell high and buy low. But it will end mainly if the adoption grows further and it is certainly about to happen.

Bitcoin has value for what it can offer "

Bitcoin is a chain of blocks that runs on a peer to peer network, where it is possible to make transactions or even need intermediaries, where the incentive for network security is the fees for each transaction that allows miners to earn a reward for mined block.

Miners are validators who have a copy of the block chain on their machines, and they earn the reward when their machine can solve an extremely complex mathematical problem, that is, the better the hardware the more Bitcoin a person can earn.

Bitcoin is maintained by the community, there is no one who controls it, every machine that has the block chain on its computer and decides whether to apply new codes or not, and
anyone can become a validator of the block, just download it because it does not have a central control.

Because it is a decentralized network, no one can change the value of anyone's Bitcoin wallet, that's right. Assuming that you want to change the value of the wallet, for that it would be necessary to use a modified code on everyone that runs the blockchain, however there would need to be a consensus between the validators, but this could cause a rupture between those who want to keep immutable and those who want to defraud the net.

Come on...

With Bitcoin it is possible for a person who lives in the United States to help someone who lives in Africa for example, because Bitcoin does not need a bank, and as we already know that to open a bank there is a lot of bureaucracy, and not everyone can have this ease of having a bank account.

And detail ... sending money abroad has a high cost
do you know how many it costs to send money outside the country?
In Africa even the majority live on less than 1 dollar a day, and if the currencies there are weak and volatile, they switch to the Bitcoin financial system, they end up escaping inflation.

Bitcoin tends to appreciate with each passing year, while ordinary money keeps losing value.

How to buy Bitcoin?

It's easy, you buy from an exchange and send it to a cryptocurrency wallet, and the best of all is that sending Bitcoin is to almost anywhere in the world very quickly, and at any time, and without disclosing personal information, this is one of the prominent features of cryptocurrency. Too good, isn't it?

It is possible today to note that several companies and large investors are surrendering to the Bitcoin (BTC) market, and becoming defenders of the cryptocurrency in question.

The value of cryptocurrency moves at the pace of its own performance. After all, cryptocurrency can be considered as "digital gold".

Until next time πŸ’•πŸ’• ...

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