Post
Topic
Board Beginners & Help
Re: Why is bitcoin unique?
by
ItsCrafty
on 21/06/2023, 17:01:44 UTC

It is not all coins that is decentralized and transparent as they claim and you know about this. We should applaud bitcoin for being truly decentralized. And again as you stated, the ability of bitcoin to rebounce after several crashes is very unique.  It is very rare to see a coin that will crash more than 70% and still survive. Bitcoin holds a very good record for that.
Taking about fighting inflation, well I can say it is so but I still have my doubt about this for it will be a topic for another day.


I would like to say that, Bitcoin is distinctive because, in contrast to traditional currencies, it runs on a decentralised network called blockchain, which does away with intermediaries like banks.Blockchain technology for Bitcoin offers immutability, security, and transparency.  high degree of trust and integrity is guaranteed by the verifiable and immutable nature of transactions recorded on the blockchain. Bitcoin has also become a symbol of the broader cryptocurrency and block chain movement, inspiring the creation of thousands of alternative cryptocurrencies and driving innovation in various industries. Moreover, its increasing liquidity makes it unique amongst others, and people trust it.