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What Determines the Value of Bitcoin⁉️ Bitcoin’s value is a perceived regard for its benefits and usefulness. The term value, as used here, is not to be confused with price, which is the monetary cost of a bitcoin. The usefulness and consequent value of #Bitcoin is a result of many aspects of its innovation, its network, and its features. This guide discusses the most important factors that lead its users to consider Bitcoin valuable.
Scientific Value📈📈📈 To the general field of Science, the Bitcoin innovation is valuable for having solved the long-standing Two Generals Problem (or Byzantine Generals’ Problem). Satoshi Nakamoto’s clever solution to the dilemma of digital double-spending is achieved via a self-organizing and time-based consensus record. The peer-to-peer nodes that populate the Bitcoin network maintain the blockchain, a shared public ledger.
Technological Value☑️ Because Bitcoin is decentralized via a distributed peer-to-peer network, there is no central server that the Bitcoin protocol depends upon for its existence. Like BitTorrent, Bitcoin is, therefore, censorship-resistant – it cannot be shut down. This aspect of Bitcoin is critical since it means that Bitcoin has continued usage is not subject to any external authority’s approval, opinion or action. Being a censorship-resistant alternative to official currency and payment systems makes Bitcoin an irreversible disruptive technology.
Social Value⚠️ Satoshi Nakamoto’s innovations in the field of Computer Science are significant milestones. In addition, a social implication of the way Bitcoin innovates payment and transactions is that it eliminates Trust. A distributed ledger and decentralized network means that no single entity needs to be trusted in order for the Bitcoin protocol to function. Each Bitcoin user owns and controls their own money outright, and is solely responsible for its security and usage. No third party, such as a bank or centralized issuer, needs to be implicitly trusted to hold, disburse or maintain one’s bitcoin holdings. #coinbasewallet#binance#bitcoin#bitcoinnews#bitcoincash#bitcoinmining#bitcoins#ethereum#local#localethereum#puertorico#miamibeach
🇬🇧 Mastercard and the main credit companies are investing in blockchain and virtual currencies more than they want you know.
🇮🇹 Mastercard e le principali società del credito stanno investendo da tempo nel settore blockchain e valute digitali, nonostante gli annunci di "fantomatici" divieti