Complete guide to Bitcoin
- Bitcoin introduction
Bitcoin is known as the first successful decentralized money ever existed. Conceived in 2008 implemented in 2009 by a person or a group of people pseudonymously known as Satoshi Nakamoto.
- What does Bitcoin solve?
Initially, as mensioned in the white paper, Bitcoin was intended to solve the double spend problem (no cash finality issue) that permitted fractional reserve to occur or unlimited fiat money creation out of thin air. So now Bitcoin makes it possible to do Peer-to-Peer digital cash transfer with cash finality meaning: no double spending issues, no intermediaries like banks, it is censorship resistant, no need to trust the person you are sending it to, and global transfers close to instant made possible.
Now Bitcoin grew up and inspires a never ending long list of other cryptocurrencies known as altcoins with different purposes, but Bitcoin always differs itself from the rest by being very reliable in doing something consistently unique, that is maintaining a fixed and unchangeable monetary policy of 21 million bitcoin to ever exist and keep executing its block every ten minutes to compensate the miners(computers owners) for doing the provable work to securing the network, a consensus known as the "Nakamoto consensus" or "Proof of work". Bitcoin Tips:
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- The Bitcoin Evolution
Unsurprisingly, Bitcoin became digital energy with scarcity. How come you may ask? Because it requires enormous amount of energy to mine or create bitcoin and once it's created it maintains its energy forever. In a world where energy is essential to life, meaning all living things require energy to continue to exist, it is crucial for at least humans to be able to preserve their energy for the future if sustainability is one of their goals, but before Bitcoin there were not a reliable way to preserve your monetary energy for long-term survival no matter how productive you could be.
- How to evolve yourself or your family with Bitcoin?
Now people can build their family and their businesses around bitcoin for sustainability and longevity because bitcoin is energy saving that does not leak energy, and most importantly the robustness of the Bitcoin decentralized security network can insure them self-sovereignty.
Just by adopting Bitcoin in the saving of yours or your family or your business or your country you can benefit from the evolution of the Bitcoin technology, this include: inflation proof, property right, digital energy saving, sustainability, self-sovereignty, permissionless transactions and so much more.
- Conclusion
To learn more about Bitcoin there are a lot more posts on this blog that answers a lot more questions about Bitcoin, please feel free to continue to explore more.
My goal is to help as many people as I can crossing the bridge of understanding the Bitcoin saving
technology so they can protect themselves. If this post helped you in any shape or form and you would like
to support me you are welcome to contribute with as little as $0.5 to this bitcoin address below. But
most importantly please share this with your family and friends to help them out in understanding the
Bitcoin potential to save their lives.
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