A crypto enthusiast blog.

The 7 Bitcoin Pillars

1- Open:

Anyone can interact with the code. You can create projects within the network, copy it, make something better or worse.

 

2- Scarce:

There are only going to be 21,000,000. As of today there are 18780000. It becomes more and more difficult to mine BTC. Contrary to a government where you can issue without any backing. Bitcoin breaks all the schemes.

 

3- Public:

Anyone can see all the details of the ecosystem. Prices, volume, transactions. This is an open ledger. You can know times, amounts, graphs, whatever you want.

 

4- Borderless:

You can send money from Argentina to Australia, from Canada to Japan without any limits. Bitcoin is an object of inclusion.

 

5- Resistant to censorship:

No one can remove it. It does not depend on a government. It transcends state agencies. It is something that is tied to the freedom of the individual to do what they want with their money. Surely governments will try to stop it from time to time, because it is out of their hands, since Bitcoin’s jurisdiction is global. And how is it global? For that we go to the next item:

 

6- Decentralized:

Bitcoin does not depend on a person, nor on a government, nor on a central institution, nor on a machine. It depends on all the people who use the network. Each person using the network is a validator node that uses the system to leverage and scale to any part of the world.

 

7- Trust:

Bitcoin is not measured against gold, the dollar, or anything else. Bitcoin is measured in trust. It is the trust of us, the Bitcoin users, that in time made the adoption increase and the price has followed its path. All the things I named previously, grew because the community around them not only got excited about the idea, saw the value, but also contributed to making the network faster, wider, with better functionality as adoption increased.

 

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Federico

CRYPTO BLOGGER

Born in Argentina, been in Crypto Space since early 2017. Been present in +1000% inflation rate over 15 years in Argentina.

The passion for the industry made me open the game to DeFi, NFT markets, descentralized applications and anything government-free stuff.

 

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