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Bitcoin

Overview#

Bitcoin (BTC)

For current information on Bitcoin we refer to others that can keep up with Bitcoin

Generally, we use the term Bitcoin to refer to the Cryptocurrency which uses the Blockchain

Why Bitcoin It is important to understand that Bitcoin was originally designed purposefully to combat the inflationary tendencies of governments and Central Banking Systems. When economic downturns occur, governments are always tempted to print more cash, saying they are "satisfying demand for cash."" In reality, they are debasing the value of cash for all who hold it and reallocating value to whoever the government pays with that newly printed cash.

From Satoshi Nakamoto's thread unveiling the Bitcoin white paper:

The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.

Bitcoin is more typical of a precious metal. Instead of the supply changing to keep the value the same, the supply is predetermined and the value changes.

This is why bitcoin has come to be known as digital gold. Bitcoin provides the same protections for savers that gold provided in past inflationary periods, with vastly improved accessibility and portability. This is due to bitcoin’s supply not responding whatsoever to changes in demand. Precious metals are the only other assets on Earth with a total supply that acts similarly, though not as predictably, as bitcoin.

When governments decide to spin up the printing presses for their fiat currencies, store-of-value assets like Bitcoin and gold serve as exits from fiat debasement.

List of Bitcoin forks [2]#

List of Bitcoin forks

Why Bitcoin and not ???#

Part of the answer is that Bitcoin has been the most tested and reliable blockchain to date; in addition, the relatively robust self-interest of miners, and the financial investment made into Bitcoin (and Bitcoin related companies) make it likely that it will be around for a good while longer than many; even if Bitcoin is not the best choice.

More Information#

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