Been asked a couple of times, what problems does cryptocurrency solve, and what’s its unique value proposition compared to other cryptocurrencies or traditional financial systems. Would love any other users take on this ..
Bitcoin solved the Byzantine General problem, which was a way to describe how difficult it was for computer systems to agree on anything on a distributed network, and this is something that anyone that tried to do exactly that encountered, by bitcoin solving this problem it allowed for the creation of a decentralized currency, and while many people still do not see the value of bitcoin, to have a decentralized network in which no third party can freeze or take control of your funds is invaluable, and as governments get even more powerful the ingenious design of bitcoin and its power will become more apparent.