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PostPosted: Wed Oct 04, 2017 9:14 am 
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Why is bitcoin important?


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PostPosted: Wed Oct 04, 2017 9:20 am 
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Joined: Thu Aug 10, 2017 6:25 am
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There are plenty of reasons owing to which Bitcoin holds a great importance. The foremost reason of why Bitcoin is important is that Bitcoin is treated as Gold in comparison to Fiat currency. People rarely invest in commodity trading, apart from trading ETFs or funds. It is alike commodities as it can be easily sell and bought.

Transparency
Blockchain is a public ledger that records all the Bitcoin transactions. After confirmation of every single transaction, its details get recorded on the network. All this makes the Blockchain network more transparent and authentic. In case, a transaction is once confirmed on the network in some weeks, then there is a reason behind it. There is a possibility that it might not exist on other networks or inauthentic. However, Bitcoin makes the network transparent and secured.

Decentralized
Bitcoin is an open-source public ledger (blockchain) that is unbreakable and free. At first, Bitcoin was just an idea, but now Bitcoin has made a revolutionary change in the financial and other industries too. Banks are independent and they can do whatever they want with the deposits. However, in case of Bitcoin, a private key is assigned to every user and other than him/her nobody have the right of it. So, it is decentralized digital currency that can’t be controlled.


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