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Review on Bitcoin by Nuno Martins
Bitcoin is an excellent project that aims for a P2P economy, in which anyoneโฆ
Bitcoin is an excellent project that aims for a P2P economy, in which anyone can be their own private bank and control their own money. It's a really strong project and although its transactions can be slow if we compare with other altcoins, an investment in Bitcoin is a really good way to get started in the cryptocurrency world!
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Pros
- Bitcoin is a decentralized cryptocurrency that allows its users to transfer money with almost no fees. For that it relies on the Blockchain technology, that makes Bitcoin almost impossible to hack and it makes the transactions safe. The "miners" are responsible for maintaining the integrity of the network by solving advanced mathematical equations. There are 21 million bitcoins available, so its offer is limited.
Cons
- Bitcoin is a really volatile cryptocurrency. It can easily go up or down and the people who invest in it - hodlers, traders, etc - can easily lose a lot of their investment. The blockchain technology used in Bitcoin is not advancing, and the money transfering is a really slow process, which requires 30 minutes or more to confirm.
