I'm a new user who knows bitcoin since 2020. I don't have much knowledge about bitcoin, but that doesn't stop my interest to read a lot about it. So I dedicate this thread to test my knowledge so far about bitcoin based on a myth that I often hear in the community.
It doesn't matter, as long as you want to learn, knowledge is still very possible to be improved. You'll get it, that's a guarantee.
Bitcoin is just like all other digital currencies; nothing new
Nearly all other digital currencies are centrally controlled. This means that:
- They can be printed at the subjective whims of the controllers
- They can be destroyed by attacking the central point of control
- Arbitrary rules can be imposed upon their users by the controllers
Being decentralized, Bitcoin solves all of these problems.
My assumption: Bitcoin's decentralization has answered all doubts about why this currency is different from other digital currencies. The average digital currency is a centralized currency which has become the basis of the difference between the two.
This is a form of resistance from any government or organization that doesn't like bitcoin. They can say that because they don't want people to use or adopt a decentralized payment system that is not controlled by a central authority like bitcoin. You know that the government will never agree to bitcoin because they can't control it so they will definitely think of various ways to make it competitive in the future like the CBDC plan.
So far, the government has only been able to regulate users without actually being able to prevent their use as investment or trading assets. Although some countries seem to be quite strict with
“crypto ban” regulations like China but that will never be able to stop this thriving bitcoin.
OP, unfortunately I don't have anything at the moment to appreciate your efforts but I'll be back and I will. This is a very well crafted thread in my opinion.