Five key values of Bitcoin
- Decentralization: One of the most important values of Bitcoin is decentralization. This means that Bitcoin is not controlled by any central authority or government, but instead operates on a decentralized network of computers all over the world. This makes it resistant to censorship, manipulation, and corruption.
- Security: Bitcoin is designed to be secure through the use of cryptographic protocols. Transactions are verified and recorded on a public ledger called the blockchain, which makes it virtually impossible to tamper with or counterfeit Bitcoin transactions.
- Privacy: While Bitcoin transactions are recorded on a public ledger, they are not tied to personal information such as names or addresses. This gives users a degree of privacy and anonymity that is not possible with traditional banking systems.
- Limited supply: Bitcoin has a limited supply, with only 21 million Bitcoins that will ever exist. This means that Bitcoin is not subject to the same inflationary pressures as fiat currencies that can be printed in unlimited amounts.
- Transparency: The public ledger of Bitcoin transactions is open for anyone to see, which provides a high degree of transparency. This transparency helps to prevent fraud and corruption, and it also helps to build trust in the Bitcoin network.
