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The Key Properties of Bitcoin by nimble-navigator

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· @nimble-navigator ·
$0.16
The Key Properties of Bitcoin
* Limited supply - There will only be 21,000,000 bitcoins created and are issued in a predictable way, you can view the inflation schedule [here](https://bashco.github.io/Bitcoin_Monetary_Inflation/) Once they have been issued, Bitcoin will be truly deflationary.

* Open source: Bitcoin code is fully auditable. You can read the source code yourself [here](https://github.com/bitcoin/bitcoin)

* Responsible - The public ledger is transparent, all transactions are viewed [by all](Https://blockexplorer.com/)

* Decentralized - Bitcoin is distributed globally through thousands of nodes without any point of failure and as such can not be closed in a way similar to how Bittorrent works.

* Resistant to censorship - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions with which you disagree, see Operation Chokepoint.

* Push system - There are no returns in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.

* Low Rate - Transaction fees can range between a few cents and a few dollars depending on network demand and how much priority you want to allocate to the transaction. Most portfolios calculate the rate automatically, but you can see current rates [here](Https://bitcoinfees.21.co/)

* No borders - No country can prevent entry and exit, even in areas that are currently not served by traditional banking, as the ledger is distributed [worldwide](http://bitcoinglobe.com/).

* Trustless - Bitcoin solved the [Byzantine general problem,](https://es.wikipedia.org/wiki/Problema_de_los_generales_bizantinos) which means that nobody needs to trust anyone to work.

* Pseudonym - It is not necessary to expose personal information when purchased with cash or transaction.

* Secure - cryptographically encrypted and can not be forcefully or brutally confiscated with appropriate key management such as hardware portfolios.

* Programmable - individual bitcoin units can be programmed to transfer based on certain criteria that are satisfied

* Almost instantaneous - From a few seconds to a few minutes depending on the need for confirmations. After some confirmations, the transactions are irreversible.

* Equal - No intermediaries with a cut, no need for [trusted third parties](https://es.wikipedia.org/wiki/Peer-to-peer) Portable - Bitcoins are digital so they are more easy to move that cash or gold. They can even be transported simply by remembering a chain of words for the recovery of the wallet.

* Scalable - Each bitcoin is divisible up to 8 decimals allowing it to grow in value while still adapting to micro-transactions.

* Designed money - Bitcoin was created to fit all [the fundamental properties of money](http://i.imgur.com/wkTyyaV.png) better than gold or fiduciary money.
👍  , ,
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vote details (3)
@cheetah ·
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.reddit.com/r/Bitcoin/comments/6jlop4/rbitcoin_faq_newcomers_please_read/
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