Review on Bitcoin by Syed Adnan
An innovative payment network and a new kind of money.
The Bitcoin network is not controlled by a central entity, transactions on the blockchain cannot be stopped or reverted. This makes Bitcoin possibly the world's most uncertain currency and digital currency.
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It is extremely powerful for a variety of reasons, but most importantly it enables people to protect their wealth from authoritarian rule and it truly enables open trade.
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Many supporters believe that Bitcoin will not only become a digital gold, but it will eventually turn the US dollar into a fiat currency. If this were to happen, Bitcoin's total market capitalization would jump to $ 1 trillion, dropping the value for Bitcoin by more than $ 1 million.
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Pros
- It's basically free to transmit Bitcoin from one corner of the world to another because it's just an online transaction.
- Bitcoin's blockchain is completely transparent and anyone in the world can easily verify how much Bitcoin holds for a particular address.
- Since Bitcoin is not a physical asset, you do not need expensive vaults and clockwise protection to store it. Securing your Bitcoin is as easy as sending in a great cryptocurrency wallet.
- Bitcoin mining consumes electricity and so does the environment, but it is smaller than gold.
Cons
- No concerns!
