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Review on Bitcoin by Hayo Zhang
Bitcoin
In my opinion, the very first cryptocurrency is a great project and I'm still intrigued to see how it will play out for the global society. It seems that thanks to blockchain technology itself the world is going to change drastically. Despite numerous new coins, Bitcoin is still dominant and the most elegant cryptocurrency project.
I hoped that crypto (and Bitcoin) gets adopted faster. The relatively slow changes in this sphere make me a little more skeptical of the real potential of Bitcoin. Let's see what happens and I hope that Bitcoin will soon become much more than just a speculative asset.
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Pros
- Peer-to-peer digital money
- Bitcoin knows no authorities and borders
- Deflationary
- The Bitcoin network consumes x3 times less energy than the banking system
- The network is transparent
Cons
- No real privacy
- Low capacity of the network
- Low adoption
- Not eco-friendly
- High volatility
