Why is it difficult for people to understand Bitcoin?
The problem is that most people generally do not know how money really works. Money is a system used to trade funds. Most people like the digital aspect of Bitcoin and don’t like the fact that Bitcoin is only ones and zeros. But that is exactly what money is, information. The money is used to provide credible information about an asset that has not yet been received.Click here for btc to php.
Money is centralized
Money cannot be compared to a general ledger with fiat currencies such as the dollar or the euro. The general ledger is managed centrally, giving the general ledger owner a lot of power. History shows that this power is often abused. In Bitcoin, the general ledger is decentralized, so no one is really in control of the network. This means that no individual or entity can influence the general ledger. Therefore, no one can create inflation, lock accounts, or freeze / stop transactions.
Decentralized form of money
One form of decentralized money is gold. No one can create extra gold and gold is also divided across the world. However, it is difficult to distribute, especially in large quantities. Not only is it too heavy, it is also dangerous. That is the reason why gold is not suitable for worldwide transactions.Visit this site for btc to php.
Bitcoin is much more than money
Bitcoin is important and revolutionary. It is the first digital currency that is both digital and decentralized. Also, it is easier to transport than gold and we all know that there can be a maximum of 21 million BTC in circulation. While the total amount of gold can still increase due to rock mining. Bitcoin does not look at borders and is much more efficient than traditional banking. This is why people are excited about Bitcoin, because it has the potential to bring a revolution.