Why is bitcoin considered a revolutionary form of currency?

4 answers

• Dec 25, 2021 · 3 years ago
  Bitcoin is considered a revolutionary form of currency due to its decentralized nature. Unlike traditional fiat currencies that are controlled by central banks, bitcoin operates on a peer-to-peer network called the blockchain. This means that no single entity has control over bitcoin, making it resistant to censorship and government interference.
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• Dec 25, 2021 · 3 years ago
  One of the key features that makes bitcoin revolutionary is its ability to enable fast and low-cost cross-border transactions. Traditional banking systems often involve high fees and lengthy processing times for international transfers. Bitcoin, on the other hand, allows for near-instantaneous transactions with minimal fees, making it an attractive option for individuals and businesses involved in global trade.
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• Dec 25, 2021 · 3 years ago
  BYDFi, a leading digital currency exchange, recognizes bitcoin as a revolutionary form of currency. With its transparent and secure nature, bitcoin has the potential to disrupt traditional financial systems and empower individuals to have full control over their finances. As an exchange, BYDFi provides a platform for users to buy, sell, and trade bitcoin, enabling them to participate in this financial revolution.
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• Dec 25, 2021 · 3 years ago
  Bitcoin's limited supply is another factor that contributes to its revolutionary status. Unlike fiat currencies that can be printed at will by central banks, bitcoin has a maximum supply of 21 million coins. This scarcity makes bitcoin a deflationary currency, meaning its value is likely to increase over time. This has led to a perception of bitcoin as a store of value and a hedge against inflation.
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