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What is the real meaning of Bitcoin?

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Written by   25
3 months ago

We all know that bitcoin is the first cryptocurrency in the market thanks to its large market capitalization, but do we really know its purpose? Today I want to mention and talk a little bit about this because I simply think that I can help many people who do not understand very well this cryptocurrency and what are its purposes in finance and in day to day life.

I want to mention that from my point of view bitcoin can be considered the new gold in the internet world, an intangible gold. Bitcoin today is the most popular cryptocurrency of all thanks to the fact that it was the first cryptocurrency in circulation and due to its market capitalization it is in the number 1 position of the main cryptocurrencies.

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One of the disadvantages for mankind is its electricity consumption, this asset usually generates large energy costs and this causes many problems to the environment, but I should mention that this has been gradually solved over time and an example of this are the solar panels that have been of great help to the environment and from a personal point of view this can be much more profitable in the long term.

Currently there are many Bitcoin miners and every 24 hours at least 4,000 new Bitcoin are mined, although it is said that this amount has dropped a lot because the price of bitcoin has decreased a lot, it is only news. From my point of view Bitcoin mining can be very profitable in the long term, especially in countries where electricity is much cheaper than in others, this can be very profitable if the miner has some other purpose in mind, such as staking or other long-term investment.

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What really is the purpose of Bitcoin?

I do not know exactly what is the purpose of Bitcoin (BTC), but I can say that the Bitcoin was created in 2009 in order to evade economic sanctions, combat economic crises and among other things, but from my point of view the main mission of Bitcoin (BTC) is to combat financial crises.

I have a long time in this, both as a writer and as a cryptocurrency reader and I have read many articles that claim this.

I should also mention that Bitcoin whales can control the price of Bitcoin, I have read several articles stating this guys, I would like to mention that Bitcoin is a good investment no matter the price because we know that this cryptocurrency has a lot of popularity and also has many uses.

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Can Bitcoin die?

Honestly yes, we all know that the Bitcoin today its price is approximately $19,000 at the time of writing this article, with this I mean that if the government of America does not want there to be trade of Bitcoin to dollars and with this if other governments join approving the idea can disappear trade, but can not disappear the Bitcoin.

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Written by   25
3 months ago
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