People describe Bitcoin as many things, including Digital Gold or Proof-of-Work. However, if you dive deeper into the BTC rabbit hole, you will discover a whole new kind of proprietorship. When Bitcoin launched, it introduced Digital ownership.
Despite the internet existing before the blockchain debuted, people never had a chance to possess anything digital. Take an example of the copied music on the internet. Facebook took ownership of your connection with pals (just to mention a few).
We had hoped that the internet would make us prosperous and the wild idea that we would have a thriving and stable economy for years. However, we are in an economic stagnation with dependency on fiat money. So the big question is, why was there no movement despite the internet?
One answer could be that we married old sophisticated methods with our modern-day technology (in this case, the internet). The internet geniuses like Facebook Founder Mark Zuckerberg and Amazon Founder Jeff Bezos benefited from taking over the web, leaving amateur users in stagnation.
Satoshi Nakamoto, however, built the ark, Bitcoin, necessary to bring equality and even save us from the raging high inflation waters. Bitcoin protects investors’ rights and provides a new type of world authority.
Digital Ownership
BTC is decentralized, meaning that it doesn’t depend on a third party; hence banks don’t have the power to freeze anyone’s riches. Meaning Bitcoin users can freely spend their money the way they like.
In addition, there are no taxes, and tracking is impossible. Other advantages include low transactional fees, protection from theft, and no charge-back risks.
Since we know our rights and how to use them, other than further research, we can use the power to our advantage and make an investment.
The Digital rights that come with Bitcoin are applicable for everyone worldwide, without borderlines or brutality.
In addition, the blockchain brings together a community that agrees on how the global BTC network should run.
What is Bitcoin?
Bitcoin is an open-source decentralized digital currency. Decentralized means it doesn’t have a central bank or an administrator. Additionally, it is decentralized and gets transferred from one user to another on the peer-to-peer BTC blockchain network without a third party involvement.
Nodes carry out the verification of transactions through cryptography and after which they get recorded in a public ledger called a blockchain.
A pseudonymous person/persons called Satoshi Nakamoto created Bitcoin in 2008, and their identity still remains unknown to date. A year after creation, users began using BTC.
Currently, Bitcoin has a price of $61000.00 per BTC/USD and has a trading volume of $29 110 375 336.
Conclusion
We now know that we are powerful. The question we are left asking is: How will we use it?
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