Why Bitcoin Only ?
When it comes to digital currencies, Bitcoin always gets the most attention and this isn’t just because it was the first cryptocurrency to hit the market. While other cryptocurrencies are mostly scams, if you take the time to learn about Bitcoin, you will see that it is not a scam. It is an amazing new invention that has the potential to change the lives of poor people around the world. Here are the main reasons why for us, it’s Bitcoin Only.
1. Scarcity
There will never be more than 21 million Bitcoin no matter what. This supply schedule was set in stone with the first block on 3 January 2009 and can never change. No matter how much price or demand for Bitcoin skyrockets, no matter which person or government tries to change things, there will never ever be more than 21 million. This creates scarcity which is absolutely certain and this is what makes Bitcoin the hardest money to ever exist and the best tool for long term savings.
2. Decentralized
A cryptocurrency is either decentralized or centralized; there isn’t such a thing as “working towards decentralization.” Bitcoin is the only cryptocurrency owned and controlled by the people. There is no central point of control for Bitcoin, so no one person can decide to make any change to the Bitcoin system or validate a transaction without there being a consensus among the Bitcoin node runners to initiate the change.
3. Lifespan/History
Bitcoin has been around for over 14 years and is the most stable of all cryptocurrencies. The idea of Bitcoin was to create a global digital currency using the internet, cryptography, network computing, and other systems. It relies on existing technologies that have been around for many years, so nothing about the concept is new. Bitcoin has stood the test of time, while over 2,400 coins have died off over the past 10 years.
4. Bitcoin Controls Market trends
Bitcoin has been around for over 14 years and is the most stable of all cryptocurrencies. The idea of Bitcoin was to create a global digital currency using the internet, cryptography, network computing, and other systems. It relies on existing technologies that have been around for many years, so nothing about the concept is new. Bitcoin has stood the test of time, while over 2,400 coins have died off over the past 10 years.
5. Bitcoin is the only uncorrup- table digital currency system
Bitcoin puts an end to the exploitative and corrupt banking system that makes a lot of profits by charging higher fees to send money to poorer destination countries. With just a few lines of code, anyone can send and receive money across the globe for a minimal transaction fee.
6. Acceptance
Bitcoin is the most widely accepted cryptocurrency in the world. It is legal tender in countries such as El Salvador and businesses and merchants worldwide accept it as payment for goods and services. This widespread acceptance has made Bitcoin more popular than other cryptocurrencies.
7. Network Neutrality
Bitcoin is an open-source system, and anyone can join the network. This means that there can never be a central entity who controls access to the network. It is permissionless. Everyone is on the same level and playing on the same field, and it will remain that way forever.
8. Accessibility
Bitcoin is the largest and most popular cryptocurrency in the world. This makes Bitcoin more accessible than many other crypto assets. Further, it can be accessed through more exchanges, merchants, software, and hardware products. Certainly, it is also the most accessible coin on P2P sales platforms.
9. Availability
Bitcoin has a larger user base and more trading volume than all alternative cryptocurrencies. This makes it easier to buy and sell Bitcoin, as there is more liquidity in the market compared to other crypto assets.
10. Market Cap
Bitcoin is the largest cryptocurrency by market capitalization, representing about 50% of the total cryptocurrency market value. Its strong influence makes it a trustworthy investment option compared to smaller and more volatile altcoins.
11. Awareness
Bitcoin has more market awareness than other cryptocurrencies. It is the most widely known and traded cryptocurrency, and its widespread media coverage makes it more accessible to the public. This increased visibility makes it easier for people to buy and sell Bitcoin, and its name often serves as a proxy for the entire cryptocurrency market.
12. Liquidity
Liquidity in the financial markets refers to how easy it is to convert an asset into cash. For cryptocurrencies, liquidity is the ability to quickly and easily turn a coin into cash. Bitcoin is a desirable asset for investors due to its high liquidity; it is easy to buy and sell, allowing them to easily liquidate their investments should they need to. In contrast, other cryptocurrencies are less liquid due to smaller market caps and lower trading volumes.
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