As a store of value, Bitcoin has several favorable properties. First of all, it can be owned and easily stored. Unlike gold, Bitcoin can be stored on a USB stick, regardless of the amount you own. Gold takes up physical space, and holding large amounts of it can become noticeable. Bitcoin also has a fixed amount. In total, there will be no more than 21 million Bitcoin available to the world.
Gold, while rare, continues to be mined, and the supply continues to increase. Bitcoin is also hard to imitate. It cannot be counterfeited, although scammers can sell to ignorant buyers. An educated buyer, on the other hand, can much more easily spot fake Bitcoin than fake Gold or counterfeit cash — they can just check the blockchain, which holds a public record of every Bitcoin in circulation.
Finally, Bitcoin is becoming more widely understood — people are curious.
As the Bitcoin community continues to develop more technology to layer on top of the Bitcoin blockchain, the use cases for the digital currency may increase in the future. For now, it remains a speculative and unscalable asset that is currently held as a store of value.
The Blockchain Scalability Problem & the Race for Visa-Like Transaction Speed
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Christopher Zita in Towards Data Science. Alexandra Souly in Towards Data Science. Luay Matalka in Towards Data Science. Python vs. The value of Bitcoins has gone up and down over the years since it was created in and some people don't think it's safe to turn your 'real' money into Bitcoins.
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He said that he was "very nervous" about people using Bitcoin for payments pointing out that investors should realise its price is extremely volatile. By this, he meant that the value could drop significantly at any moment and investors could lose a lot of money. Elon Musk becomes richest person in the world. These comments are now closed. Find out how the rules change in England from today.
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Bitcoin: What is it, where can you use it and is it worth investing?
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Guide: What is Bitcoin and how does it work? Getty Images. What is Bitcoin?
What is bitcoin? - CNNMoney
How does Bitcoin work? A Bitcoin wallet app on a smartphone. How do people get Bitcoins? Denes Farkas. How are new Bitcoins created? People build special computers to generate Bitcoins. Why are Bitcoins valuable? Bitcoins are valuable simply because people believe they are. Why do people want Bitcoins? Is it secure?
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