The World’s Longest List of Reasons Bitcoin is Great
Bitcoin is a revolutionary system that will influence many aspects of our lives. It is one of the most meaningful inventions of our time and it deserves the praise it gets.
Bitcoin changed our philosophical outlook, the way we see technology, politics, and economics. To celebrate this money revolution, we came up with the world’s longest list of reasons Bitcoin is great. Enjoy it!
Bitcoin is Great Because of How it Works!
- Predictable money supply
- Money supply limited to 21 million coins
- Each coin can be divided into 100 million parts – Satoshis
- Decentralized
- It is the first widely used integrated payment system and a currency
- Blockchain
- Distributed
- Digital cash – “a version of electronic P2P cash”
- No intermediaries needed – completely P2P
- Natively digital – great for the internet era
- Easy to store
- Immutable and transparent – transactions cannot be reversed and everyone can see them
- Bitcoin is a space based on independent verification. There is always someone interested in exposing any vulnerability possible
- World-class developers are constantly assessing threats and vulnerabilities to the system and proposing improvements
- Satoshi Nakamoto disappeared – no personality cult makes it the money of its users
- We can say that those who claim to be Satoshi, are not the creators of Bitcoin, thanks to Bitcoin itself!
- Bitcoin has gone through a contentious fork and thrived
- Users hold miners accountable – and can prevail
Bitcoin Innovation
- BTC gave us hardware wallets
- It also enabled the invention of the Lightning Network
- Micro-payments are now possible on LN, making Bitcoin a crucial building block for micro-finance
Politics & Freedom
- The first democratized monetary system – run a node and you have a vote
- A simple majority cannot rule over Bitcoin – to change something you need a wide consensus
- Promotes individual freedom
- No one can regulate Bitcoin – people talking about regulation can only regulate the bridges between fiat and Bitcoin
- It is impossible to stop it; you would need to take all the nodes down simultaneously and those are distributed around the world
Bitcoin: An Island of Censorship Resistance & Relative Privacy
- Reduces user data gathering efforts in the age of digital money
- Censorship resistant
- With coin mixing and a secure connection to the internet, Bitcoin can become the most widely adopted currency that gives its users the greatest possible degree of privacy
Its the Economics, Stupid!
- Tends to appreciate against fiat
- Its price has gone up thanks in large part to BTC donations that result in adoption – Bitcoin faucet
- Bitcoin created its own economic niche with products designed exclusively for BTC hodlers
- It is the enabler of every other cryptocurrency out there, becoming the first successful attempt at native internet money
- Bitcoin markets are open 24/7/365
- BTC is in many ways the dream of Austrian School economists – Milton Friedman suggested a similar invention
- Its creator – Satoshi – could be nominated for a Nobel Prize in Economics, but since he (they) disappeared, a nomination is not possible
- It has saved thousands of Venezuelans and people from other countries from hyperinflation
- BTC prices fluctuate? Bitcoin doesn’t care. It keeps on working as advertised
- It makes a fool out of financial sector dinosaurs like Peter Schiff, on a daily basis
- Bitcoin products can take advantage of the blockchain, allowing consumers to verify the authenticity of the product independently, which helps defeat counterfeiters
Bitcoin Culture
- The best way to celebrate Bitcoin is eating pizza on May 22nd – Bitcoin Pizza Day
- A whole culture has developed around Bitcoin with its own slang
- Even unique stories about BTC emerged. Utopian – or Dystopian – posts , like the Bitcoin Citadel on Reddit, become an intricate part of emerging fiction literature in the space.
- This might be the first truly border-less culture
- There are various art movements and artists taking advantage of blockchain and Bitcoin culture to produce unique and innovative pieces
- Artists can “register” their art on the blockchain and people can always verify its uniqueness and authenticity
- Bitcoin memes are surprisingly clever!
Detractors Become Adopters
- Bitcoin’s soft power turns detractors into adopters and forces traditional companies to integrate it into their systems – PayPal for example
- People who didn’t believe in Bitcoin, adopt it once big teh and banks censor them
- Detractors who refuse to change their mind can never deny BTC’s power in the market
- BTC: the little experimental currency that could!
- No one does Bitcoin better than Bitcoin: those who tried haven’t been successful
- For all of its flaws, it is still the most dominant cryptocurrency in the market
- In the long run all Bitcoin bulls will outlive the Keynesians. BTC is the ultimate bear slayer!
This is the World’s Longest List of Reasons why Bitcoin is Great!
So, there you have it. This is the world’s longest list of reasons why Bitcoin is great, but it is not conclusive. We will keep on adding more reasons as they pop up.
After all, our favorite orange coin is just in its infancy. BTC will add to its accolades and our readers will surely let us know if we have missed something. For the time being, enjoy the world’s longest list of reasons why Bitcoin is great and share it with everyone you know!